Blog Post Round Up

October 26, 2008

  • Obama’s McCain-Bush Ad More of the Same: Falsehoods and Misleading: All taxes are paid by people and all tax cuts flow to people, including those legally remitted by businesses (such as corporations). How much is paid by the “middle class” depends on questions of economic incidence of the corporate income tax, but it’s not nothing. Now regarding the claim that McCain’s tax cuts and Bush’s tax cuts provide no relief to the middle class, that is just downright false.
  • Correction for Steve Malanga of Real Clear Markets: NTU’s Ballot Initiative Report: NTU has done a great job summarizing [the 106 tax-related state ballot] initiatives.
  • Obama Tweaks Tax Plan: Now in response to criticisms from the McCain campaign that Obama’s tax credits are welfare, the Obama campaign is adding one string to the mortgage credit: you must work.
  • Why is $1 Trillion in Redistribution Not Enough?: Obama did come clean on this issue when he said recently that he would “spread the wealth around,” but the facts show that government tax and spending policy is already designed to redistribute vast sums of wealth from upper-income households to low-income households. The question for Obama is “why is $1 trillion in redistribution not enough?”
  • Even Proposing a Sales Tax Holiday Creates Tax Instability: I received a phone call today from a New Jersey resident, requesting my “professional opinion” on whether the sales tax holiday would become law. He was planning to purchase a new car, and wanted to know whether he should delay his purchase in anticipation of the holiday.
  • Presidential Candidate Tax Plan Comparison Update: The Tax Foundation has updated the Presidential Candidate Tax Plan Comparison section of our website to reflect recent changes and clarifications in Sen. McCain’s and Sen. Obama’s tax policies. The most significant changes: both candidates have recently outlined short term tax policies designed to help taxpayers deal with the current economic troubles. Check it out here.

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