November 17, 2008
Columnist for The Statesman (Stony Brook University) Talks About President-Elect Obama’s Tax Plan
"Looking Past the Lies of Obama's Tax Plan"
By Zachary Kurtz
The Obama plan won't actually help all the people he says that it's going to help, according to a study done by the Tax Foundation. On the surface, Obama's tax cuts and redistribution plans seem to put more money into the hands of those who need it. In a progressive taxation system, however, the real tax rate doesn't provide an accurate assessment of tax obligations. This is because the deductions available at each tax bracket create a disparity between actual tax liabilities and taxable income, depending on what tax bracket you fit into.
