PA-Sarah Palin addresses 3,000 supporters at Latrobe Airport

Pennsylvania-Palin promises tax-cut during Scranton visit

Visiting Northeast Pennsylvania for the first time, Republican vice presidential nominee Sarah Palin touted the new economic plan running mate John McCain unveiled Tuesday...... The new economic plan would get the nation “through a time of testing” and put “the economy back on track,” she said.
“Under this plan, we’ll help American families keep their homes and save family neighborhoods and bring stability to our housing market,” Mrs. Palin said.The plan seeks to reduce to 10 percent the tax on senior-citizen withdrawals from retirement accounts in 2008 and 2009, reduce to 7.5 percent the capital gains tax in 2009 and 2010 and quintuple deductions of capital losses. It is meant to supplement Mr. McCain’s call last week for a $300 billion government purchase of troubled mortgages.Mrs. Palin’s 29-minute speech was frequently interrupted with applause or chants of “Sarah! Sarah! Sarah!” ........... Full Report:The Times Tribune

Obama cannot deliver tax cuts to middle class (Sums do not add up)

Already Barack Obama has made promises totalling 1,000 billion dollars. In addition the bailout just agreed will cost an extra 700 billion dollars. Now he promises substantial tax cuts for the middle class. Quite simply these cannot be funded with an overhang of 1,700 billion dollars. This is political smoke and mirrors-loony bin economics. Such an economic policy will produce economic Armageddon.

Tax cuts can only be introduced by a freeze on government spending. Such a freeze would make resources available to fund such tax cuts. This is the McCain approach. McCain has advocated a freeze (excluding military spending). He has promised a war on waste and pork barrel spending. He has a strong track record in opposing pork barrel spending. Obama on the contrary has been a strong proponent of pork barrel spending and has voted for 94 tax increases.

When challenged on a public expenditure freeze-in the first debate-Obama ran for cover and fudged the issue.
Obama’s plans to double the capital gains tax is a further ingredient in the current instability. The likelihood of an Obama victory could trigger a further massive sell off on the stock market as investors seek to avoid higher capital gains tax rates.

Obama Dupes The Middle Class On Income Tax Cuts (Effective Tax Rate under Obama would hit 60%)

Throughout this campaign Barack Obama and Joe Biden have continuously campaigned on the basis of providing a middle class tax cut. Unfortunately Obama has a strong record of voting to raise taxes. In fact Obama has voted 94 times to raise taxes. Obama has made promises totalling 1000 billion dollars. In addition the bailout of the banking system will conservatively cost another 700 billion dollars.

How will Obama fund the propose tax cuts and the huge expansion in socialised medicine? Quite simply the figures do not add up. Obama is not levelling with the electorate. He is a proponent of loony bin economics. Quite simply his promises will require a massive hike in taxes. He would double the capital gains tax to 28%. The net affect of this is that you will get far less when you sell your home or your 401K or your stock plan. He would double the dividends tax. That means that those who clip coupons from corporate stocks get less money.

He intends to increase the limit on Social Security taxes, which means that instead of paying 12 1/2 percent of the first $100,000, you pay it on everything that you're making.
The real tax rate is then 60 percent. See Dick Morris

In essence Obama's tax proposals are a massive con trick.

John McCain Won't Raise Your Taxes-Obama will

The following are some of Obama's Taxing proposals :

• He will create a 60 percent tax bracket for upper-income Americans and raise the top bracket to 40 percent. He will apply FICA taxes to all income, not just that under $100,000 as at present. ( 40 %+ FICA’s 12.5 % + Medicare’s 2 % + state and local taxes averaging, after deduction, at 5-6 %=60 %. (Source-Dick Morris )


• He will double the capital gains tax. The likelihood of an Obama Presidency could trigger a Stock Market Crash as investors rush to sell shares to avoid the higher rates of capital gains tax.


• He will double the dividend tax.



• His opposition to nuclear power and extra oil drilling means that energy prices will remain high. America's over reliance on oil imports will continue.

Obama plans to raise spending by $800 billion over 4 years. The Tax Payer will fund the Socialist policies of a President Obama.