I am middle class, will Obama raise my taxes if elected?

He will not RAISE your taxes, but he will allow the Bush tax cuts to expire. The net result is the same - less money in your pocket - but the semantics make all the difference.

Then he'll give you a tax cut. So if your tax rate goes from 15% to 28%, and he gives you a 2% tax cut, then your new tax rate will be 26%, because Obama gave you a tax cut. See how that works?

The lower and upper Middle class simply put are those who make average household incomes anywhere between $85,000 to $110,000 a year, in most cases there are two income earners.

Obama's tax plan clearly says if you make 250k or less you wil NOT see a tax increase.

I see many of these answers are from those that don't even know what his plan says, let alone the result of it.

They say "yes" because McCain says "yes". And McCain is a liar.

McCain isn't dumb he knows what Obama's tax plan involves he knows it won't raise taxes on the middle class, but he wants his supporters to be dumb and think it will...Looks like it's working.

No. Economists have gone over both plans. Under 250k you will pay less under Obama, up to 600k a year, and you will still pay less than you did this year under Obama (not as much less as McCain's plan in this bracket)

McCain's plan becomes better at about the 300k mark, but most people making that understand the economics of the situation and that the middle class is disappearing. Without them, everyone loses out. So the majority of people that would directly benefit under McCain are voting Obama, because they see the long term implications of another 4 years under the Bush economy.

He wants the tax cuts to those over $250,000 to expire, while the others stay in place. If you make $42000 and are single, you will pay an extra $15 whole bucks! I guess technically, that's a tax increase.

For all those who say raising taxes on the rich will hurt the rest of us, please note that about 10,000 of those in the top 1% of income brackets pay NO taxes at all, and the rest of them pay 10 cents on the dollar to our 13 cents. And with the Bush tax cuts, you would say that the companies would have stayed here, but they haven't. The number of companies moving or outsourcing their labor has skyrocketed in the last 8 years, in spite of the Bush tax cuts. 2/3 of all corporations pay no taxes. So, what? Are they going to move just because someone charges them a tax they won't pay anyway?

Honey, no matter what they say, BOTH candidates are going to raise taxes. They simply MUST. We are trillions of dollars in debt due to the Iraq war that Bush started, and the recent economic bailout. If we want to save our country (we could simply go under and be owned by Asia or Europe, if we aren't careful), we must get out of debt to everyone. We borrowed too much. BUT, Obama will tax corporations and the rich more, making it more fair for we poor and middle class folks (that's everyone making less than $5 million a year, according to McCain). McCain will raise taxes on the middle class so he and his wealthier buddies can keep making their riches bigger.

No. These statistics compare the projected results from McCain's tax plan versus Obama's. Someone in the bottom 20%, for example, would pay $20 less a year under McCain's plan and $617 less a year under Obama's. Someone in the top 1% would pay $133,715 more under Obama’s plan and $31,628 less under McCain’s.

Affects of John McCain Tax Plan (Average change in Federal Tax)

Bottom 20% - $20 less

Second 20% - $123 less

Middle 20% - $282 less

Fourth 20% - $512 less

Top 20% - $2826 less

Top 1% - $31,628 less

Top 0.1% - $190,653 less

Affects of Barack Obama Tax Plan (Average Change in Federal Tax)

Bottom 20% - $617 less

Second 20% - $959 less

Middle 20% - $969 less

Fourth 20% - $753 less

Top 20% - $7748 more

Top 1% - $133,715 more

Top 0.1% - $789,241 more

http://www.taxpolicycenter.org/

Yahoo had a report on all of Obama's plan this morning, you need to read it. No he wont raise you taxes if you make less than $250,000 as a family and if you make more he will simply tax you the same way you were taxed before Bush gave all those tax breaks to the wealthy.

No and to check these facts yourself use the link below and you can see for yourself that you will get a break. Additionally, McCain will tax you on your health care for the first time ever.

LOL - I have to laugh that someone gave me a thumbs down for pointing out that McCain plans to tax people's healthcare.

If you make $150,000(married)$145,000(single) and under you will receive a tax cut,if you make 150,000.01 up to $250,000(married) $200,000(single)you might get a slight cut but it might stay the same it will not raise from what you are paying now. If you want to know look it up, a lot of people will try and tell you lies like the person who posted first.What they are referring to is Obama and him wanting to let the Bush tax cuts expire and letting the tax brackets go back to what Clinton had them at.

Have you heard that old one about bears crapping in the woods? Democrats always raise taxes; it's one of the things they DO. Or check his record at http://www.obama.senate.gov/

Even better, for a clearer view of the party so many sheeple keep putting into power, try this one. If you don't find it chilling, you need to read it again.

http://www.nationalblackrepublicans.com/

Do you make more than $250,000 in your household?

Does a significant amount of your annual income come from investment in capital gains?

If so, then your taxes might go up a little. The more money you make, the more your taxes go up. The progressive tax system works to only raise taxes on the additional amount above each new tax bracket, so if you make $251,000, you will pay more taxes on that extra $1000 only.

However, you'll get improved services for your money, like cheaper health care options.