Posted by
Right Fielder on Friday, October 31, 2008 5:39:43 PM
There are NO tax cuts in BHO's tax plan. Instead he uses "tax credits" ie. sends everyone government checks.
He mails you a check if you meet the following criteria...
"Making work pay" tax credit. Basically everyone gets a $500 check
"$4K American opportunity tax credit. You get money back after you have spent it if you have a kid in college.
"Mortgage Tax Credit". You get a check back on average of $500 if you have a mortgage.
Eliminate taxes all together on seniors making under $50K
OTHERS...
Health Care Tax Credit
Expand Earned income Tax Credit
Tax credit for Child Care
Tax Credit for "green" vehicles
Some sort of retirement account tax credit...
He does not say that he WONT renew the Bush Tax Cuts so everyone's marginal rate will probably rise in 2010.