Mark Knows It All

This is reprinted from the Wall Street Journal. It is about as clear an explanation of Obama's tax proposals as I have read. Please note, that under Obama, the number of Americans paying no income tax would rise from 38% to 48%. Do you really think a country can sustain 1/2 its population paying no taxes, being supported by the other half. When it comes to taxes, the difference between Barack Obama and John McCain is arguably as wide as it's been in a presidential race since Ronald Reagan and Walter Mondale battled in 1984. Sen. Obama is proposing to raise taxes more than any recent candidate, while Sen. McCain wants to cut them substantially. Most of the campaign debate has been over whose taxes would be raised, and whose cut. Here are the facts: Mr. Obama would roll back the 2001 and 2003 tax cuts for taxpayers in the top two brackets, raising the top two marginal rates of income tax to 36% and 39.6% from 33% and 35%. The 33% rate begins to hit this year at incomes of $164,5...