Ned Barnett, writing at The American Thinker, has analyzed Senator Obama's tax policy promises, and found four tax increases—big tax increases—for people earning under $250,000. He even found tax increases for those earning as little as $25,000.
I've worked as the state level media and strategy director on three Presidential election campaigns -- I know how "promises" work -- so I analyzed Senator Obama's promises by looking for loopholes.
The first loophole was easy to find: Senator Obama doesn't "count" allowing the Bush tax cuts to lapse as a tax increase. Unless the cuts are re-enacted, rates will automatically return to the 2000 level. Senator Obama claims that letting a tax cut lapse -- allowing the rates to return to a higher levels -- is not actually a "tax increase." It's just the lapsing of a tax cut.
See the difference?
Neither do I.
100% of those Americans who pay Federal income tax will be affected by this increase. Just this one increase will cost my family nearly $4000.
It ain't chicken feed.