As Im trying to get informed for this upcoming election I have been trying to read up on the plans of the candidates for their presidency. I came along this on Obamas website and its very vauge so I was wondering what truly is his plan here with tax cuts? What is obamas plan on taxation for all classes and tax cuts he has planned if any?
This is taken from his wesite.
Provide Middle Class Americans Tax Relief
Obama will cut income taxes by $1,000 for working families to offset the payroll tax they pay.
Provide a Tax Cut for Working Families: Obama will restore fairness to the tax code and provide 150 million workers the tax relief they need. Obama will create a new "Making Work Pay" tax credit of up to $500 per person, or $1,000 per working family. The "Making Work Pay" tax credit will completely eliminate income taxes for 10 million Americans.
I get the jist of this but not sure what his plan is to accomplish all of this.
This is taken from his wesite.
Provide Middle Class Americans Tax Relief
Obama will cut income taxes by $1,000 for working families to offset the payroll tax they pay.
Provide a Tax Cut for Working Families: Obama will restore fairness to the tax code and provide 150 million workers the tax relief they need. Obama will create a new "Making Work Pay" tax credit of up to $500 per person, or $1,000 per working family. The "Making Work Pay" tax credit will completely eliminate income taxes for 10 million Americans.
I get the jist of this but not sure what his plan is to accomplish all of this.