Obama's Plans to Raise Taxes

Obama claims that he is lowering taxes for 95% percent of the population. However, other statements that he is making do not add up. It continues to sound like the typcial Deomcrat tax and spend philosophy.

If you read between the line of his tax policies, you will find taxes going up for more people than going down. Some of the examples include:

• Obama wants to increase the "phase out" of certain tax credits such as child care and education. This is a hidden way to raise taxes.
• Obama wants to remove the ceiling for social security - this is a 12.4% tax increase for anyone making over $102,000. Yes, this is paid by the employee and employer unless you are self employed and you pay the full 12.4% yourself.
• Democrats are looking at removing the charitable contribution for non-profits. I agree there are a lot of loop holes in the tax code but there are legitimate items like this that move money toward more efficient chartiable efforts than the government. Charitable individuals will loose this deduction and pay more in taxes.

The net effect is that middle class working people will be subject to more taxes at the end of the day.

The independent, non-partisan Tax Policy Center put together a "tax calculator" to compare your tax bill under McCain and Obama. Surprisingly my taxes will go up under Obama even though I make far less than $250K a year.

Obama has also proposed massive government spending increases. Somehow he has to come up with the money to support those initiatives. The only way he can really do that is through raising taxes. Remember this when you vote next Tuesday.