Nevadans weigh in on Obama's proposed tax plan

http://news.rgj.com/apps/pbcs.dll/article?AID=/20070919/NEWS19/709190415/1321/NEWS

Saying he seeks to even the playing field for American workers, U.S. Sen. Barack Obama,

D-Ill., on Tuesday proposed $80 billion in tax cuts targeted mostly at middle-class taxpayers and an increase in capital gains tax for the richest Americans.

"What we're talking about is restoring balance," Obama told the Reno Gazette-Journal in a telephone interview after a speech in Washington, D.C. "You've got a system in which you've got corporate CEOs often paying lower tax rates than their secretaries. The basic principle is we want everybody paying their fair share."

Obama said his plan would eliminate taxes for about 110,000 lower income workers and 35,000 senior citizens in Nevada who make less than $50,000 a year, according to the campaign. It would also provide a credit for homeowners who do not itemize deductions.

Obama also proposed providing most taxpayers with a tax return already filled out by the Internal Revenue Service.

"All they have to do is scan it over and sign it," he said.

To pay for the plan, Obama said he would close corporate loopholes, eliminate off-shore tax shelters, increase taxes on hedge fund managers and increase the capital gains rate for the top income earners to

20 percent to 28 percent.

Nevada political observers said Obama's tax plan would appeal to constituencies important to his campaign in the state's Jan. 19 presidential caucus, such as labor unions and senior citizens.

Nevada political observers said Obama's tax plan would appeal to constituencies important to his campaign in the state's Jan. 19 presidential caucus, such as labor unions and senior citizens.

But some warned his focus on increasing taxes for richer Americans would not be popular with Nevada voters.

"Anything that can be done to simplify the tax code is going to be very warmly received," said Carole Vilardo, president of the nonpartisan Nevada Taxpayer Association. "Closing of loopholes that have been abused will probably not create major problems. But the capital gains tax, potentially does."

Eric Herzik, a political scientist at the University of Nevada, Reno and a Republican, said Obama's populist tax plan is "labor-friendly and senior citizen-friendly."

ever notice the repubs are starting the Democrats: tax hikes meme again?
And one actually characterized Obama's health Care plan as "Big government"
How could the government trough be any larger that it has grwon under BushCo? And that doesn't mention the HUGE group of crony war profiteer corporations affixed to the gov't teat.