As long as I remember, pandering to lower taxes was necessary to win a political campaign. Whether or not the election was for a position that had taxing authority. Formula for getting elected has always been to lower taxes and increase services or military spending/law enforcement. I'd like to see someone come out and say they are going to raise taxes and decrease services.

I believe Walter Mondale told the truth about taxes, and look where it got him.

Hasn't Obama said he was going to raise taxes?

Jack, I know it's probably totally unrealistic, but what's your take on the Fair Tax system?

Actually, Obama said the other day he'd lower taxes for the middle class...

And with Barry doubling the capital gains tax that won't affect the middle class??

Most middle-class capital gains are held in retirement plans, which are nontaxable. And upon withdrawal, retirement funds are ordinary income, not capital gains.

No, the middle class have relatively little to fear from President Obama's tax plans. As for the rich, though, the tax party's almost over. About time.

So Jack, if all of the stocks are in IRA's and are nontaxable, why would the IRS report in 2005 that 47% or all tax returns reporting capital gains were from households earning below $50K and 79% came from households with incomes below $100K. What is your definition of middle class??

What a misleading statistic. I had a $5 capital gain on my tax return this year -- so did my 4-year-old daughter. Believe me, the impact on us of what Obama is calling for would be negligible. If you look at dollars of income, or even percentages of income, middle-class people (I'll say $150K and under, but my case gets even stronger if you peg it at $100K) don't really care all that much about capital gains.