Reading Is FUNdamental

Like so many fundaMENTALists, Governor Palin of Alaska has trouble separating fact from metaphor. For example, last night she stridently asserted that ...

Taxes are too high ... he (Obama) wants to raise them. His
tax increases are the fine print in his economic plan, and let me be specific.
The Democratic nominee for president supports plans to raise income taxes
... raise payroll taxes ... raise investment income taxes ... raise the death
tax ... raise business taxes ... and increase the tax burden on the American
people by hundreds of billions of dollars. My sister Heather and her husband
have just built a service station that's now opened for business — like millions
of others who run small businesses.

How are they going to be any better off if taxes go up? Or maybe you're trying to keep your job at a plant in Michigan
or Ohio ... or create jobs with clean coal from Pennsylvania or West Virginia
... or keep a small farm in the family right here in Minnesota.
How are you going to be better off if our opponent adds a massive tax burden to the American economy?

However, please see the chart below and note that excepting those people earning more than a quarter of a million dollars a year, Senator Obama's tax plan actually decreases income tax more than Senator McCain's plan. Senator Obama would create budget surplus, rather than Senator McCain's defecit. Maybe Governor Palin should clean her glasses.

The tax plans:

Incomes of: --Obama-- --McCain
$227,000 - a year - plus -- --$23,000 more-- --$15,000 less
$112,000 - $227,000-- --$2,300 less-- --$3,200 less
$66,000 - $112,000-- --$1,290 less-- --$1,009 less
$38,000 - $66,000-- --$1,042 less-- --$319 less
$19,000 - $38,000-- --$892 less-- --$113 less
$0 - $19,000-- --$567 less-- --$19 less

For everyone:

$4,000/yr /college student

Double the dependent credit to $7,000

Impact of tax changes on federal budget:

Obama's plan will return $700 billion

McCain's plan will cost us $600 billion
Source: Chicago Sun-Times

(Oh and FYI, John McCain has never voted in favor of a bill which would help small businesses or relieve their taxes or make those taxes equitable to big business. I don't know what Heather is going to do if McCain and Palin win the election in Novemeber.)

Governor Sarah Palin speaks in tongues.

Oh, and a shout out to Michael who sent me the candidate's tax plan chart.