Tax Foundation says marginal tax rates will rise for some under Obama, McCain's plans

If you really want to get specifics rather than campaign rhetoric, join me in a call for both presidential candidates to submit to aThis time in history may be remembered as the era of the government giveaway. Q&A by experts at the Tax Foundation. This organization has a gold mine of information and I’d be willing to bet there aren’t many in Congress who use it—some may even deliberately avoid it. The Tax Foundation said in a news release, “Marginal tax rates will rise to over 50 percent on some middle-income families if Sen. Obama's tax plan becomes law, and over 40 percent under Sen. McCain's plan,” according to a new report from the Tax Foundation. There’s an abstract including a comparison at the website for this nonpartisan organization founded in 1937. The foundation has been praised by both parties. Why doesn't mass media (and our government) use this expertise? Asking a campaign strategist to explain taxes is like asking the fox why he wants to guard the henhouse.

Last night’s debate, as usual, offered plenty to chew on—I’ll get to that in a later post. But in the interest of the U.S. taxpayer, here’s a call for both presidential candidates to debate the experts who know the nitty gritty on taxes—The Tax Foundation. A disclosure: I hate taxes. Several presidents have promised to cut taxes and after they were elected, we paid more taxes. And once we “patriotically” hand over our money, the government squanders a large amount of it.

Obama continues to promise reduced taxes for 95 percent of the middle class. Well, what does that mean? You’d think one of these pundits would ask him what the low and high ranges are for his interpretation of who exactly is middle class, seeing as how most of us who aren’t, as we say in the South, uppity define ourselves as middle class. I can see people calling themselves upper class (I know of a few politicians who might do that). I’ll bet not many would call themselves lower class. So what income range does Obama target with his use of the social/political term ‘middle class’?

President Bill Clinton’s promise to only raise taxes on the rich still chimes in my brain. President George H.W. Bush’s promise too. I don’t forget. Both raised taxes on the part of the ‘middle class’ I’m in, or maybe by both presidents’ definitions, I’m rich? Gee, I feel better already. And I have to say if we end up with a president who is a Democrat in the hands of the current Democratic leadership in Congress, we may never get control of a government that if it were an individual would be classified as morbidly obese.

So to both presidential candidates: submit to Q& A on TV with the Tax Foundation experts. In the interest of the great elusive middle class.

*Join me in forwarding this to every media outlet you know. We deserve specifics on tax issues from both presidential candidates, especially with the U.S. government handing out taxpayer money such as the Stimulus Payments that like our tax dollars, are now gone with the wind.