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Welfare State

October 22, 2008

Just to show that I am not wild about some of McCain’s policies, I wanted to address income tax. Currently, about 33% of Americans have a zero or negative income tax liability. Under the Obama plan, that number would increase to 44%. The problem is that under the McCain plan, that number would increase to 43%. There’s not much difference there.

Here is a plot of the percentage of Americans with a zero or negative tax liability in recent years:

Things have been getting progressively worse since the 1986 tax reform.

In addition, Obama claims he will cut taxes for 95% of working Americans. I’m not sure how that math works out.

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