Last time I looked at IRS figures there were about 40% of the population making under the 30K adjusted, If you have better figures by all means point out the link and the information. Proverty rate and median adjust income seemly supports that conclusion.
Looking at real numbers of tax returns that is provided on the IRS website, one might see a slight increase in the percent to about 45%;105,000,000 million filled with income under 30K, 78,000 millioned filled with income to 68K, and about 29,000,000 filled with income up to 150K, with about 10,000,000 filling above 150K, so while 40% might be low its not off by much.
Now my concern is that both candidates are making promises of tax cuts, which is not realistic in the face of the current debt for the nation, nor with the planned outlays that both candidates are advocating. The statistics of income and how tax is computed is interesting for the fact that it shows that both candidates are attempting to minipulate the vote by promising tax cuts at the federal level. Now if we pay attention to what is happening with the individual states, we can all predict a tax increase that will happen because of their own internal shortfalls, and that most states required that the state government have a balanced budget.
So they either get more money from the federal government or raise their own internal taxes. Which will effect the overall tax rate that people pay.
Worse case is that both candidates are misleading the people, knowing that either they will have to raise taxes, or cut out some of the campaign promised programs. I find it interesting that many think on those making above 250K will have a tax increase under an Obama adminstration, and that the rest will have a tax decrease. The rethoric from those within the campaign and outside doesn't really support that conclusion because of the adjustments in defining the cutoff by Biden and Richardson. To their credit they say they will not see an increase or a decrease, but that is completely different then what Obama has stated.
Now I only point out this, not because I am against Obama - only that I am pointing out that his campaign has not been consistent in the message. Now McCain is no better because he promises one across the board, which doesn't make since when one looks at his campaign promises and what the government budget is. So in the issue of Tax cuts, I find McCain's logic completely off, and Obama's campaign slightly misleading.
This forces me to look at the other issues that each candidate is running on, because I see both unable to meet their campaign goal of lowering taxes for my income level. (and no I am not in the 150 to 250K income group, I am in the next group that represents about 30 to 40% of the population)
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