Politics

Making under $250,000?

Quoting from a piece in the American Thinker

Senator Obama’s two tax promises: to limit tax increases to only those making over $250,000 a year, and to not raise taxes on 95% of “working Americans,” intrigued me. As a hard-working small business owner, over the past ten years I’ve earned from $50,000 to $100,000 per year. If Senator Obama is shooting straight with us, under his presidency I could look forward to paying no additional Federal taxes — I might even get a break — and as I struggle to support a family and pay for two boys in college, a reliable tax freeze is nearly as welcome as further tax cuts.

Jim Geraghty also makes the point that if Obama allows President Bush’s tax cuts to expire, that’s an effective tax increase for most middle-class families.

I’ve asked several people at work. All of us makes well under $250,000, but even the Obama supporters don’t actually expect to pay less in taxes under Obama’s plan. I certainly don’t. Something doesn’t add up.