As an accountant and tax analyst, I can tell you that your statements are fundamentally flawed from the beginning. Because you are not an accountant or a tax analyst, this is not necessarily your fault. Please allow me to shed some light on this issue, so that you can become more informed about the subject. Then you can truly make an educated decision, rather than base your decision on second-hand inaccuracies.

1. Let’s start with your statement that Obama is going to raise taxes of those >$250K by 3%. This is false. He is going to raise the “marginal income taxation” of that group by 3%. This means that of the income they bring in up to $250K, their tax rate DOES NOT CHANGE. The rate only changes on the income they make ABOVE $250. Understanding taxes in the US requires full understanding of the progressive rate system.

2. Assume from this point forward, I am speaking of individuals or families making well above $250K.

3. A “Family with children” is afforded far more credits and tax deductions than an “individual” making the same income. Example: Family A with 4 kids recieves a tax credit for each child, plus the standard double exemption deduction for a married couple. They are also able to deduct medical expenses, interest on a mortgage, child care, etc. You see, their essential family expenses are, in large part, NOT subject to tax in this country. So your argument falls to pieces on this point. The single guy does not get child credits, only gets one exemption, and only gets to deduct those expenses which he has, which are likely a much smaller deduction than Family A. Of the expenses you listed, the following are deductible (and not taxed): Education, Indsurance, Mortgage Interest, Daycare. You only pay taxes on what is left of your income AFTER deductions. Then you get credits applied as well. Family A, in all likelihood, will be quite capable of deducting a very large share of their income, leaving them well below the tax increase break point.

4. I just explained how the plan differs, without spending “Trillions of dollars”. Aside from that, his system does not differ that substantially from the current system, except that there are a few extra credits for lower income families, and 3% higher marginal taxes on income above $250K (as stated before, the first $250K stays the same).

I hope this has helped to shore up some of your misconceptions.

Matt Vorwald

1- Senator Obama purposes to raise taxes to those making yearly over $250.000 by 3%.

The overlooked problem with his proposal, that unfortunately no one has dove into is, Family’s with Children.

What if Family A – Who makes $250.000 yearly, has four small children and a
$400.000 dollar mortgage.

Compared to

Family B – who makes $250.000 yearly, has no children and a $100.000 mortgage.

Senator Obama’s plan is not factoring children who require school costs, larger living quarters, higher insurance’s, food, clothing, daycare and so forth. While those without children, a low mortgage and living in a smaller home, can possibly survive this plan a bit further.

With this Spread the wealth plan, Senator Obama is jeopardizing more than small businesses. It is everything he is saying he will protect. Education, Insurance’s, Children and Home Mortgages.

Will Senator Obama’s plan be different for a bachelor without any children at
$250.000 yearly?

Compared to

A Family of 5 earning $250.000 yearly.

It would take Trillions of dollars yearly to deduce how Senator Obama’s plan would differ from …

A – A Business who’s owner was a self supportive Bachelor.

Or

B- A business who’s owner has children and more costs in which to raise them adequately.

The main discussions of Senator Obama has been spreading the wealth to those less fortunate in their small businesses or endeavors. The term “Taking food from my children’s mouth.” Does seem to apply to his Spread the wealth proposal.

The costs are astronomical when you have children. Being he has two children of his own, I am very surprised that this plan left out what I have entitled
the “Family Clause .”

If you are interested in contacting me with comments, please do so.

metalviolinist@aol.com

My name is Skyler James and I am a student of Psychology, Music Teacher, Writer and Inventor.

I am not a Democrat nor Republican. I am a proud American and concerned home owner.

Please email me your thoughts.

How can you say this is a smear when it is reporting facts, and even quotes from his family members?