Sen. Obama has repeatedly stated in debates that he would let the tax cuts lapse.
This is from the LA Times:
http://latimesblogs.latimes.com/wash...hetaxrais.html
Maria Bartiromo on CNBC's "Closing Bell" asked, "Who should pay more and who should pay less?" Predictably, the politician chose to talk about who would benefit from his higher tax plan, not who would get socked the hardest. But from his answers it sounds like the "wealthy" in his mind are those making more than $75,000.
"I would not increase taxes for middle class Americans and in fact I want to....
provide a tax cut for people who are making $75,000 a year or less,'' he said. "For those folks, I want an offset on the payroll tax that would be worth as much as $1,000 for a family.
$75K/year isn't wealthy. On $75K/year, it's almost impossible to get a mortgage in Massachusetts, and is ABSOLUTELY impossible if you want something more than a tiny ranch on a postage stamp piece of property. When we moved from MA to NY, we sold our house for almost $200K, which was a 1200 sq ft house on a 3000 sq ft lot, in an undesirable neighborhood.
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