Taxes

It’s a bit of a dirty word, taxes. During election season it gets turned into a weapon. A heavy, blunt object used to bludgeon an opponent. A hot button word to strike fear into folks who are working hard to make ends meet.

The topic of taxes is the only issue that Chuck and I have had to declare off limits. We both agree on the need for taxes; the importance of pooling resources for the common good. We absolutely agree on paying our fair share. But it’s how taxes are calculated that leads to rows. That is until now.

Today we ran some errands. While I drove, Chuck read the New York Times Magazine cover story aloud: “Obamanomics”. It provides an overview of Senator Barack Obama’s economic plan. Part of that plan includes taxes.

Many of you have probably seen and heard the television ads from the McCain campaign that claim Senator Obama will raise taxes on the middle class and senior citizens. They are lying. Here’s an excerpt from Section Five of today’s New York Times Magazine article by David Leonhardt:

“The Tax Policy Center, a research group run by the Brookings Institution and the Urban Institute, has done the most detailed analysis of the Obama and McCain tax plans, and it has published a series of fascinating tables. For the bottom 80 percent of the population — those households making $118,000 or less — McCain’s various tax cuts would mean a net savings of about $200 a year on average. Obama’s proposals would bring $900 a year in savings. So for most people, Obama is the tax cutter in this campaign.”

It’s important to note that if your household income is less than $250,000 (yes, a quarter of a million) a year, your tax situation will improve significantly in multiple ways under Senator Obama’s tax plan.

Here’s a link to the economy section of Senator Obama’s website. His plan is equitable, comprehensive and understandable.

But for you visual learners (like me) here’s a link to a video of Brian Deese, Deputy Economic Policy Director on the Obama campaign, fact checking the McCain attack ads related to taxes and the economy. Mr. Deese has a couple of other videos up and they are very clear and concise.

As for Chuck and me and the topic of taxes, I don’t want to overstate this, but I believe we’ve reached detente. That’s right, the only subject which was too dangerous to discuss, which threatened the harmony of our married life, has been resolved. And we owe it all to Barack Obama!