Obama will tax Oprah $16m, McCain will give her $9m back= $25 million difference

[Ichingcarpenter]

Everyone knows that Oprah Winfrey is Barack Obama's long time friend and biggest supporter. She believes he stands for change:

“I think that what he stands for, what he has proven that he can stand for, what he has shown was worth me going out on a limb for – and I haven’t done it in the past because I haven’t felt that anybody, I didn’t know anybody well enough to be able to say, I believe in this person.”

We also hear about the tax differences between Obama and Republican rival John McCain. Oprah is one of the highest paid women in the US, obviously she makes more than $250,000. Obama's tax plan would effect her in a major way, but so would McCain's tax plan.

Obama wants to tax the top earners in the US, these are the people who make over $250,000. With Obama as president Oprah would be paying $16 million a year more in taxes.

McCain is proposing a $300 billion dollar tax cut for the wealthy and for large corporations. If McCain were to become president Oprah would be taxed $9 million dollars less than she currently is - like handing her a nice fat $9 million dollar check.
http://bakedpanda.blogspot.com/2008/10/obama-will-tax-oprah-16m-mccain-will.html

[Ichingcarpenter]

1. I need $9 million! I want McCain!

This is an important article for spreading.

[napi21]

2. I doubt that's true. Anyone in the income catagory of Oprah has

a very knowledgable staff of CPA'S to avoid taxes that high. The funniest quotes made by the Pubs claim "anybody or any company making more than XXXXX xwill have hugh tax increases." They never mention the term "taxable income" or "adjusted gross income". I'm not a tax expert by any streatch, but I have done quite a few tax returns for many people across the income spectrum. NOBODY but the poorest individuals pay taxes on their income without claiming any deductions. The greater your income, the more opportunities you have for deductions and loopholes.

[Fire_Medic_Dave]

4. The poorest don't pay any income tax.

[global1]

9. Wouldn't A Good Goal For Any President Be To Put The Poor Back In Jobs So......

they also have a chance to pay income taxes. Wouldn't that benefit everyone? I keep saying that jobs are the engine that will get this country back on track.

[Fire_Medic_Dave]

10. Yep.

[napi21]

11. I guess it depends on who you consider the poorest, but there are

a lot of people earning low wages and are single with no dependents other than themselves who pay taxes! They have NO deductions, no exclusions. Take a look at the tax table some time.

[Fire_Medic_Dave]

12. I guess you should be a little more specific next time.

[global1]

8. Doesn't Obama Also Say He'll Go After And Close Loopholes?....nt

[elkston]

3. Actually, it doesn't help to put it in such stark terms without saying ..

how much Oprah makes in the first place. Reading that somebody pays $16 million in taxes would be pretty jarring for anyone.

[Dangerously Amused]

5. Great story, great source. Thanks! K&R.

[Hutzpa]

6. Is this their latest

attempt at division?

Are they trying to drive a wedge between Oprah and Obama....
:rofl: they have really run out of ideas and are just searching.

How demeaning and condescending....typical Republican.

[progressivebydesign]

7. Not so fast. The wealthiest have ways to shelter most of that...

the rarely pay anything that straightforward. When you have numerous companies and such.

This is pretty bogus.

[victoryparty]

13. Would this make McCain ...

...a Socialite Socialist?

[TheDonkey]

14. Get Oprah on the phone NOW!

Oh nooooooes!