Will McCain Help Lower-Income Americans?
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- Purple_States
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more from News and Politics:
Did McCain give a substantial enough answer to Tamara's question? Will giving Americans tax credits help relieve the burdens of lower-income Americans?
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- groups:
- News and Politics, Politics, Citizen Journalism
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- tags:
- News and Politics, Politics, Economy, Election 08, 1 more
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VoyagerFilms
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Great idea McCain! Great idea with the $5,000.00 tax rebate thing.
Take OUR tax money, give it back to us so we can hand OUR money to medial and insurance companies. It just keeps things the way they are. Greed prevails, the poor get screwed.
Don''t believe that if you don't pay INCOME tax, (the tax McBain was referring to), that you aren't still paying a huge percentage of your income in taxes for goods and entertainment, etc.
For example: if the price of a 3 bedroom 2 bath house is $50,000.00, and the tax rate is 10%, you pay $55,000.00, $5,000.00 in taxes.
Now say there is inflation, or I don't know, an artificial increase in demand (remember supply and demand) as a result of slackened regulations on lending institutions by the federal government for people to qualify to purchase or interest only loans which increases the number of "qualified" buyers. Because of increased demand, more buyers or more people buy into the notion housing values will continue rising forever, the house now sells for $100,000.00, and although, the tax rate remains unchanged, the tax for that same 3 bedroom 2 bath house (still 10%) is now doubled, $10.000.00.
No increase in the tax rate - so the President can claim he did not raise taxes! And he's right. But the result is for the sale of one 3 bedroom 2 bath house, the government now collects twice as much money.
Back to reality:
Did the majority of American's income double in the same time period? NO!Did the income of a tiny percentage of American's increase more than ten fold in the same time period? Yes!
Do you have to work twice as hard? Yes!
Do you want to continue in this way?
If not, don't vote for McCain or HIllary.
- 1 year ago
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VoyagerFilms
