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2008-08-27 18:21:10 UTC
Half of Americans Believe GOP Spin on Obama's Tax Plan
By Joshua Holland, AlterNet. Posted August 26, 2008.
Even though Obama says he'll cut taxes for 95 percent of Americans, Gallup
records 53 percent thinking he'll raise them.
You've really got to tip your hat to the anti-tax propagandists on the
Right. According to Gallup, 53 percent of Americans believe an Obama
presidency would result in their taxes going up, despite the reality that he
has offered tax "relief" for 95 percent of taxpayers and would only raise
taxes on the top 5 percent to the levels they paid during the Clinton years.
Interestingly, about a third of respondents to the Gallup poll said John
McCain would also raise their taxes. A quarter said as much of George W.
Bush in 2004 -- clearly, there's a sizable group of Americans who believe
that it's just what politicians do.
From Gallup:
Given the current economic environment, one might think that the last thing
the presidential contenders would be thinking about -- let alone verbalizing
-- would be their intention to raise federal income taxes. In fact, McCain
has pledged to renew the tax cuts Bush instituted, and Barack Obama has said
he would raise taxes on the wealthiest but would provide a tax cut to
middle-class Americans. Therefore, it may be somewhat surprising that so
many Americans think their federal taxes will go up, regardless of whether
Obama or McCain is elected. ...
Republicans are overwhelmingly convinced that Obama will increase their
taxes, with 81% stating such an expectation, compared to 52% of independents
and 34% of Democrats. In sharp contrast, only 16% of Republicans think their
taxes will increase if McCain is elected president, compared to 34% of
independents and 46% of Democrats. While party affiliation clearly plays a
role in the way Democrats and Republicans view potential tax increases, a
substantial percentage of independents think their federal taxes will
increase no matter who wins.
You can boil down conservative messaging to the economy to this: We're all
the same. Rich and poor, high-skilled workers and those without, wage-slaves
and Paris Hilton -- and either politicians "raise taxes" or provide "tax
relief." The reality is that the federal government is always going to rake
in somewhere around 18 to 20 percent of the GDP in revenues, and the
questions people should be asking are: 1) is the level of revenue sufficient
so that government can do what we ask and expect it to do, or are we going
to run up huge deficits, and 2) how is that burden distributed?
And we're not talking just about individuals. During the boom years after
World War II, corporate income taxes represented around 6 percent of the
government's revenues; today that number has fallen to less than 2 percent.
But back to individual taxpayers. According to an analysis of both
candidates' tax proposals by the Tax Policy Center and the Urban Institute
(PDF), the reality is that under McCain's plan, the middle class would pay a
few dollars less, the top 5 percent would pay a whole lot less, and the
deficit would continue to snowball. Under Obama's plan, the top 2.5 percent
of filers would see their tax rates return to what they were under Clinton
-- a real increase -- and the bottom 95 percent of filers would pay a lot
less.
These are estimates only, but certainly adequate to make the point that
average families would see bigger cuts under an Obama administration -- and
those at the top would clean up, while the deficit continues its steady
upward trend, under McCain.
If you haven't signed up for AlterNet's Corporate Accountability and
Workplace coverage yet, you really should. Each week, we'll send you our
best econ coverage -- including stories that don't get onto the front page
-- along with news of the latest studies, a little quote or a factoid of the
week. Sign up today!
By Joshua Holland, AlterNet. Posted August 26, 2008.
Even though Obama says he'll cut taxes for 95 percent of Americans, Gallup
records 53 percent thinking he'll raise them.
You've really got to tip your hat to the anti-tax propagandists on the
Right. According to Gallup, 53 percent of Americans believe an Obama
presidency would result in their taxes going up, despite the reality that he
has offered tax "relief" for 95 percent of taxpayers and would only raise
taxes on the top 5 percent to the levels they paid during the Clinton years.
Interestingly, about a third of respondents to the Gallup poll said John
McCain would also raise their taxes. A quarter said as much of George W.
Bush in 2004 -- clearly, there's a sizable group of Americans who believe
that it's just what politicians do.
From Gallup:
Given the current economic environment, one might think that the last thing
the presidential contenders would be thinking about -- let alone verbalizing
-- would be their intention to raise federal income taxes. In fact, McCain
has pledged to renew the tax cuts Bush instituted, and Barack Obama has said
he would raise taxes on the wealthiest but would provide a tax cut to
middle-class Americans. Therefore, it may be somewhat surprising that so
many Americans think their federal taxes will go up, regardless of whether
Obama or McCain is elected. ...
Republicans are overwhelmingly convinced that Obama will increase their
taxes, with 81% stating such an expectation, compared to 52% of independents
and 34% of Democrats. In sharp contrast, only 16% of Republicans think their
taxes will increase if McCain is elected president, compared to 34% of
independents and 46% of Democrats. While party affiliation clearly plays a
role in the way Democrats and Republicans view potential tax increases, a
substantial percentage of independents think their federal taxes will
increase no matter who wins.
You can boil down conservative messaging to the economy to this: We're all
the same. Rich and poor, high-skilled workers and those without, wage-slaves
and Paris Hilton -- and either politicians "raise taxes" or provide "tax
relief." The reality is that the federal government is always going to rake
in somewhere around 18 to 20 percent of the GDP in revenues, and the
questions people should be asking are: 1) is the level of revenue sufficient
so that government can do what we ask and expect it to do, or are we going
to run up huge deficits, and 2) how is that burden distributed?
And we're not talking just about individuals. During the boom years after
World War II, corporate income taxes represented around 6 percent of the
government's revenues; today that number has fallen to less than 2 percent.
But back to individual taxpayers. According to an analysis of both
candidates' tax proposals by the Tax Policy Center and the Urban Institute
(PDF), the reality is that under McCain's plan, the middle class would pay a
few dollars less, the top 5 percent would pay a whole lot less, and the
deficit would continue to snowball. Under Obama's plan, the top 2.5 percent
of filers would see their tax rates return to what they were under Clinton
-- a real increase -- and the bottom 95 percent of filers would pay a lot
less.
These are estimates only, but certainly adequate to make the point that
average families would see bigger cuts under an Obama administration -- and
those at the top would clean up, while the deficit continues its steady
upward trend, under McCain.
If you haven't signed up for AlterNet's Corporate Accountability and
Workplace coverage yet, you really should. Each week, we'll send you our
best econ coverage -- including stories that don't get onto the front page
-- along with news of the latest studies, a little quote or a factoid of the
week. Sign up today!