Tax Confusion

I watch all the news channels--all of them, including Fox, which I endure just to see what the other side is saying. At the moment, McCain and his surrogates are dragging out that tired old GOP talking point: those liberals will raise your taxes! They say Obama is a socialist, Obama will take away your freedom, Obama wants to share the wealth. Well I happen to think that sharing the wealth is a great idea. The United States has grown into the greatest nation on earth through its progressive tax system. Taxation by its very nature is a redistribution of wealth. The wealthier you are, the more you pay, to finance the critical government functions that each and every citizen depends on, those things that individuals can't do for themselves. Firefighters, roads, education, security, clean drinking water, safe working conditions, military defense, and caring for those who cannot take care of themselves, to name just a handful. These are foundational American values. This is "sharing the wealth". It's a good thing.

For the past eight years, Bush has been giving tax breaks to the very wealthiest Americans, even giving breaks to corporations to reward them for shipping jobs overseas. He has abandoned completely the conservative pay-as-you-go philosophy. In the meantime, he has engaged in a very expensive war that has bankrupted this country and severely weakened our military. All the while, real wages have gone down, unemployment has gone up, and millionaires have become billionaires in record numbers.

Bush has irresponsibly traded away our children's futures in exchange for his adventure in Iraq. A responsible leader, before starting a war, should be willing to ask the American people to sacrifice for the effort. This means raising taxes. Bush didn't have the guts to go to the citizens because he knew that we would not be willing to pay for it. But we will be paying for it, for decades to come. And now that the entire financial system is on the verge of collapse, and trillions of dollars in wealth has evaporated overnight, how will we pay the bill?

And now McCain is doubling down on the Bush tax cuts, calling to make them even bigger. The "Joe the plumbers" that McCain claims to be fighting for would actually get a larger tax cut under Obama's tax plan than under McCain's. Don't take my word for it, look at this chart from the Tax Policy Institute as published on the Washington Post website. See for yourself which plan works better for your family. Or go here, for a nifty tax calculator. Don't fall for the spin.