The $32,000 Question
July 8, 2008
Updated: July 11, 2008
The McCain campaign falsely claims that Obama voted to raise income taxes on individuals earning "as little as $32,000 per year."
http://www.factcheck.org/elections-2008/the_32000_question.htmlHere's part of McCain's statement in reply to Obama's acceptance speech
FactCheck.org: The Budget Resolution Would Have Allowed Most Of The Provisions Of The 2001 And 2003 Tax Cuts To Expire, Effectively Raising Taxes On Those Making $41,500 In Total Income. "What Obama voted for was a budget resolution that would have allowed most of the provisions of the 2001 and 2003 tax cuts to expire. In particular, the resolution would allow the 25 percent tax bracket to return to its pre-2001 level of 28 percent. That bracket kicks in at $32,550 for an individual or $65,100 for a married couple. ... But as those of you who have filled out a 1040 know, that's not actually how income taxes work. We don't pay taxes on our total earnings; we pay them based on our 'taxable income.' The Urban-Brookings Tax Policy Center's Eric Toder told FactCheck.org that 'people with taxable income of $32,000 would have a total income greater than that.' In 2008, anyone filing taxes with single status would be entitled to a standar d deduction of $5,450, as well as a personal exemption of $3,500. So to have a taxable income high enough to reach the 25 percent bracket, an individual would need to earn at least $41,500 in total income, while a married couple would need a combined income of at least $83,000." ("The $32,000 Question," FactCheck.org,
http://www.factcheck.org, 7/8/08)
FactCheck.org: "Obama's Votes Indicate A Willingness To Raise Taxes." "Certainly Obama's votes indicate a willingness to raise taxes, and Obama has not been shy about saying explicitly that he will raise some taxes." ("The $32,000 Question," FactCheck.org,
http://www.factcheck.org, 7/8/08)
Obama Campaign: Barack Obama Voted For A Budget Resolution That Wouldn't Have Increased Taxes For Any Taxpayers Making Less Than $41,500. ROSEN: "Campaign aides to Senator Obama today, called the charge that he voted for tax hikes on people making only $32,000 a year, quote, 'bogus.' They circulated an analysis stating that the resolution that Obama had voted for would not have increase taxes on single taxpayer making less than $41,500 a year in total income." (Fox News' "America's Election Headquarters," 7/30/08)
The New York Times: Barack Obama's "Vote Was On A Budget Resolution To Raise Taxes On People Making $41,500 A Year." "FactCheck.org, a nonpartisan Web site, said the vote was on a budget resolution to raise taxes on people making $41,500 a year; the $32,000 figure, it said, was the amount of taxable income those people had." (Michael Cooper, "McCain Goes Negative, Worrying Some In GOP," The New York Times, 7/30/08)
http://www.johnmccain.com/Informing/News/PressReleases/Read.aspx?guid=caac48a5-790f-4b44-8e6a-bf08eb5fadeeThese morons are citing something calling them out as liars!
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