September 2, 2008
"Truth Patrol: Obama tax-cut claim right on target"
By Laura Frank
Denver was a slugfest of claims and counterclaims as Democratic power brokers held court in the Mile High City. Now the show has moved to Minneapolis-St. Paul and the Republicans. Confused about who is telling the truth? The Rocky Truth Patrol sets the record straight.
Can't we all get a break?
Claim: Barack Obama says he would cut taxes for 95 percent of working families.
Rocky Truth Patrol says: Rock solid
Obama's "Make Work Pay" plan would give tax credits to an estimated 150 million workers: $500 per person or $1,000 per working family. The Tax Foundation, a nonpartisan, nonprofit tax education organization, has analyzed both candidates' tax plans. It says about 44 million people already have no tax burden.
Obama's plan would raise taxes on the top 1 percent of wage earners but give most everyone else a tax break. Even people who earn roughly between $93,000 and $192,000 a year would see a tax break, the foundation says.
The top 1 percent of taxpayers would see a tax hike of $131 billion while the other groups would see a tax cut of $155 billion, according to a Tax Foundation report.