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Practically Speaking

Kyle and her husband moved to Brookfield in 1986. She became active in local politics and started blogging in 2004. Her focus is primarily on local issues but often includes state and national topics, too. Kyle looks at things from the taxpayers' perspective in a creative, yet down to earth way, addressing them from a practical point of view.

Whose Money Is It Anyway?

 McCain, Obama present different views on taxes

WASHINGTON (Reuters) - Republican John McCain and Democrat Barack Obama staked out starkly opposing stances on taxes on Tuesday, with McCain promising corporate tax breaks and Obama pledging tax increases for many.

McCain in a speech in Washington accused Obama of seeking the single largest tax increase since World War Two while Obama, in a television interview, said he would increase taxes on the wealthy and on stock profits to pay for a middle-class tax cut of $1,000 a year.

"No matter which of us wins in November, there will be change in Washington. The question is what kind of change?" McCain told a conference for small businesses.

 

 Obama told CNBC that he would raise taxes on Americans making $250,000 a year or more and raise the capital gains tax for those in higher income brackets while exempting small investors. He said the U.S. economy has been "out of balance for too long."

 

McCain, 71, vowed to maintain Bush's tax cuts, lower corporate tax rates from 35 percent to 25 percent and allow companies to expense new equipment and technology in their first year.

He supported keeping capital gains taxes as they are now, doubling a tax exemption for children, and phasing out the Alternative Minimum Tax, which he said would save some 25 million middle-class families up to $2,000 in a year.

He said he could pay for the plan by cutting what he called wasteful government spending, including ethanol and sugar subsidies and weapons systems.

"Under Senator Obama's tax plan, Americans of every background would see their taxes rise -- seniors, parents, small business owners and just about everyone who has even a modest investment in the market," McCain said.

Pelosi- said last fall that we should "shift" some of oil companies profits to govt. That is a tax. Venezuela did a major shift! 

Obama supported the windfall profits tax quote about how govt would take it and use to help families 

"I'll make oil companies like Exxon pay a tax on their windfall profits, and we'll use the money to help families pay for their skyrocketing energy costs and other bills," the Illinois senator said.

 

Links:

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Brookfield7, Fairly Conservative, Betterbrookfield,
Mark Levin , Vicki Mckenna

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