Obama Tax Plan

(Community Matters) If you haven’t read this WSJ article on Obama’s tax plan, you should. here

Written by Jason Furman and Austan Goolsbee, economic policy director and senior economic adviser to Obama, respectively, they discuss tax cuts for families making less than $250,000 and a roll back of tax rates for those making more than $250,000 BUT at no higher capital gains or ordinary income rates than those of the 1990s. As well, there are tax cuts for small businesses.

Compare and contrast to extended tax cuts in McCain’s plans for the very wealthiest Americans and corporations, tax cuts which further enlarge the national deficit and do nothing to relieve the burden on middle income families.