US 2008 Presidential Candidates On Tax Issues

tag:blogger.com,1999:blog-8414181796915902782.post-35168542564119362662008-01-22T14:08:00.000-08:002008-01-22T14:19:21.127-08:00US 2008 Presidential Candidates On Tax Issues<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://bp2.blogger.com/_t6prfYfnxJM/R5ZqPwRLyeI/AAAAAAAAdZ4/-sTAudhdMD0/s1600-h/candidatetax.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer;" src="http://bp2.blogger.com/_t6prfYfnxJM/R5ZqPwRLyeI/AAAAAAAAdZ4/-sTAudhdMD0/s400/candidatetax.jpg" alt="" id="BLOGGER_PHOTO_ID_5158427242087041506" border="0" /></a>TAXES: Clinton: Raise income taxes on wealthiest and keep estate tax on them. Higher tax breaks for college. Edwards: Raise income taxes on wealthiest and their capital gains tax. $25 billion a year in tax cuts for non-wealthy, including tripling the Earned Income Tax Credit for singles and $500 tax credit for families making up to $75,000. Obama: Raise income taxes on wealthiest and their capital gains and dividends taxes. Raise corporate taxes. $80 billion in tax breaks mainly for poor workers and elderly, including tripling Earned Income Tax Credit for minimum-wage workers and higher credit for larger families. Giuliani: Cut corporate tax rate to 25 percent from 35 percent, eliminate estate tax, establish a permanent child tax credit. Huckabee: Replace income and investment taxes with 23 percent national sales tax, with help for poor and rebates for essential purchases. McCain: Opposed some of Bush's tax cuts because they were not tied to spending cuts, now says the tax cuts should be permanent. Romney: Tax breaks to those earning less than $200,000, eliminating capital gains, interest and dividend taxes for most. HEALTH INSURANCE: Clinton: $110 billion a year for mandatory universal coverage in first term. Tax credits to make insurance more affordable. Raise taxes on wealthy. Edwards: Up to $120 billion a year for mandatory universal coverage in first term. Tax credits for affordability. Raise taxes on wealthy. Obama: No universal coverage mandate for adults but one for children. More than $65 billion a year to make universal coverage affordable. Raise taxes on wealthy. Giuliani: Income tax deduction of $7,500 per taxpayer to defray insurance costs. Huckabee: Spend more on prevention, let market and states expand insurance. McCain: $2,500 tax credit per taxpayer to help pay for insurance. Romney: Incentives for states to expand affordable coverage. As governor, signed law aimed at ensuring universal coverage. SOCIAL SECURITY: Clinton: Noncommittal on raising $97,500 income cap on payroll taxes. Proposes a federal match of up to $1,000 to help set up 401(k) plans. Edwards: Subject the portion of income over about $200,000 to Social Security taxes. Obama: Raising cap with unspecified "small adjustment" that would subject a portion of higher incomes to Social Security taxes. Giuliani: Rules out tax increase to save Social Security. McCain: Would consider "almost anything" in a compromise to save Social Security, yet rules out higher payroll taxes for now. Huckabee: Higher benefits for people who delay retirement past 70. Let retirees choose to get benefits or a payment at death for heirs. Romney: Higher taxes are "wrong way to go." Who is your favorite candidate? Do you agree with where they stand on the tax issues? Who will lead the lost country in the time of uncertainties? Vancouver Tax Accountanthttp://www.blogger.com/profile/04555062495662358497noreply@blogger.com