Friday, October 31, 2008

Barack Obama Lowers the Rich Threshold

Several days ago, Barack Obama was claiming that any household with less than $250,000 in combined income would receive a tax cut under his tax plan. During the last few days, Barack Obama has changed this figure. Now, your combined household income has to be under $200,000 to receive a tax cut. There is also a story floating around that Joe Biden recently said the actual threshold will be $150,000.

Why do we keep hearing all of these different numbers? What is the truth? What does Obama consider to be rich? When the dust settles, and Barack Obama is comfortably in office, we are probably going to find that any married couple making $100,000 is considered rich. Do not be surprised if that number is even lower. Socialism is not cheap.

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