Let's talk about the facts - Part I - Taxes

Obama's graph looks suggestive of a plan for Wealth Redistribution.

As if wealth redistribution towards the upper income brackets hasn't bee happening in the lase 25 years?

Yeah, because warren buffet's secretary paying taxes at a higher % then he is isn't wealth distribution. Or all the bailouts of large investment banks isn't wealth redistribution. Get real.

Charles Iliya Krempeaux:

Obama's graph looks suggestive of a plan for Wealth Redistribution.

Oddly enough, so does McCain's...

@Coriolis, you said...

"Or all the bailouts of large investment banks isn't wealth redistribution. Get real."

The bailout of the large investment banks is definitely Wealth Redistribution too.

But that seem to have nothing to do with noting that Obama's graph looks suggestive of a plan for Wealth Redistribution.

It's a red herrings.

Not only because it doesn't change the truthfulness of my assertion.

But also since both McCain and Obama are reported as supporting these bailouts!

I wish the graph showed median in addition to or instead of average. That means a lot more to the middle class.

Actually, the other thing missing here is the increase in BUSINESS tax for small business owners which Obama would implement. For example, a primary care doctor who makes $150,000 per year may not have a higher income tax, but his COMPANY (i.e., the practice made up of three partners) may make $900,000 per year in gross revenue. Well, if the business tax goes up, then that doctor will either have to cut wages of its employees, let some employees go, or reduce his or her own salary in order to pay those higher taxes. So, it's actually pretty misleading. This, by the way, is a VERY REAL EXAMPLE, since a practice making $900,000 would break down to about $300,000 per partner, and then about 50% of that goes to paying overhead (i.e., rent, supplies, employees, health insurance, etc.). Think about that the next time you go to a doctor's office and bitch about the bill!

Although one could expect Obama's Health Tax Credit to make health insurance more affordable would at the least partially offset such cost.

Further, from Obama's Plan For Small Businesses:

Provide Zero Capital Gains and Other Tax Relief for Small Businesses and Start Ups: Barack Obama believes that we need to reduce burdens on small business owners, many of whom are struggling to succeed as
health care and energy costs continue to skyrocket. Barack Obama and Joe Biden will eliminate all capital
gains taxes on small and start-up businesses to encourage innovation and job creation. Obama and Biden will
support small business owners by providing a $500 "Making Work Pay" tax credit to almost every worker in
America. Self-employed small business owners pay both the employee and the employer side of the payroll
tax, and this measure will reduce the burdens of this double taxation.