Looks like most pilots are better off with McCain. Not to mention our neighbors with expendable income that actually buy plane tickets in a poor economy will have more expendable income to help our industry and the overall economy. If Obama truly thinks that these tax rates will help the economy he is nuts, read a history book.
What is best for me is generally not what is best for the country conversely what is best for the country generally turns out best for me in the long run.
An important distinction between McCain’s and Obama’s tax plans is that McCain is proposing a “tax rate” cut while Obama is proposing a huge “tax rate” increase (but only on the rich) and a “tax credit” for rest of us. In other words the almost 40% of Americans that currently don’t pay any taxes will be getting a check from the government and that money will becoming from the huge amount that the “rich” will be anteing up.
This is the same at the tax credit stimulus that we got this year that we had to borrow money from China to pay out. Obama is just buying votes.
This is not a tax plan it is redistribution of wealth to those who aren’t paying taxes.
Obama also wants to decrease the investment of money into companies by raising the capital gains tax rate. This will hurt the economy and the government will take in less money. The reason for this action, “It’s Fair.” Click Here.
If you want to know who pays the taxes here is a good link. Click Here.
It's good to know that my hard times living paycheck to paycheck (mostly due to terrible decision making abilities and general lack of motivation to "go that extra mile" in life) will now be rewarded by the government at the expense of the very people that provide jobs and opportunities for others.
"Teddy Roosevelt supported a progressive income tax."- Barack Obama