For now I'll stop with this one. I disagree, Barak wanted to add into the current crisis coverage monies for ACORN. That's the community organizing group that he worked for. And we're not talking about a few $100k either. That organization is clearly wasteful spending by any measure.
Hmm, you sound as though you understand it fairly well. Ok, what is the difference in the Barak tax burden on a family making $125k verses what they pay now? Further, what is the financial burden that will impact on a couple making say $300k who's lifestyle (i.e., savings, mortgage, car note, etc.) was based upon the current tax obligation. Now to you $300k may sound like a lot. But the near westside of Chicago contains several homes in the $1.25m range who's owners might just fall into an arena of personal concern. If they are now going to be told that between federal, state and Cook County taxes they need to be thinking of paying around 50%, that's gonna' fiscally hurt.
It was just struck out of the current bailout plan. Barak specifically wanted that in there. It is one of his pet interests, understandably. ACORN, ok read here as to the bailout stuff: http://www.acorn.org/ It's a social justice platform that does nothing to prepare folks for homeownership, just wants to make it avaialable to them. In Chicago, we've worked (through our church) long and hard to explain its shortfalls as far as serving the people is concerned. Using several legaly permitted loopholes, they show folks (mainly Secion 8 category) how to snap up foreclosed properties for living and investment using little or no money. Basically, a quiet infomercial style dealing in real estate. No teaching or explaining of what home ownership means or requires past the monthly mortgage payments.
Thats odd that property taxes would INCREASE in this kind of real estate market. Why did that happen? Anyways..mccains plan would give them an extra $10 a month as opposed to Obama's.
This one you'll need to explain. My understanding is that the cutoff is $250k. And what stops Illinois from making up the difference? You see that's still government taxation. And it's pure semantics to say, "Oh, that's not the Fed, it's the state and/or county that's taxing!" In either event, the money has left the taxpayer's hands.
Easiest way to explain: http://www.washingtonpost.com/wp-dyn/content/story/2008/06/09/ST2008060900950.html Your point is taken, however it goes beyond the context of a mccain vs obama thread