Quote Originally Posted by MsgMills View Post
I then went to the McCain Web site in search of a clue to Obama’s financial magic. And there I found the clue I was looking for. Sen. John McCain says he wants to extend the Post - 9/11 tax cuts that will “expire” next year unless Congress extends them. I then went back to Obama’s Web site and after more analysis found the answer to the magic. Obama, if elected, will reduce middle class taxes from the restored “Higher” rates that take effect next year.
This means that instead of the promised tax reduction I heard Tuesday night he really means net increases of several trillion dollars to be paid by the middle class tax payers like me. Regardless of how one feels about Obama’s political agenda and social philosophy, one has to admit this is a great deception being played on America’s voters.
This letter at the very least, misrepresents the facts, and if you ask me, that statement that "he really means net increases of several trillion dollars to be paid by the middle class tax payers like me" is an outright lie. First off, the tax cuts were 1.2 trillion dollars in the first place, so even if they all expired, it wouldn't be "several trillion dollars." And of that $1.2 trillion, $380 billion of those cuts have already been extended through 2013, namely the extension of the 10% tax bracket, the $1,000 per child tax credit, reduction of the so-called marriage penalty and various tax cuts for people serving in the military and national guard. In other words, the ones most likely to affect middle class taxpayers like you and me. The ones that are still in place are the ones we liberals always complain about, the ones aimed at the richest few, who need them the least. And they expire in 2010, not "next year."

http://www.usatoday.com/news/washington/2008-03-13-senate-tax_n.htm

http://www.nysun.com/national/senate-democrats-reject-bush-tax-cut-extension/72898/