Palin on Taxes

Sarah Palin reiterated the familiar McCain campaign line about Barack Obama raising taxes on the middle-class.

As Biden correctly responded, Obama did vote for a non-binding budget resolution that provided guidelines that assumed the Bush tax cuts will sunset in 2011. That's not the same as voting for a tax increase. And Obama's current tax plan does call for tax cuts for everyone making less than $250,000 a year.

Factcheck.org has repeatedly taken McCain to task on this one. Here's their explanation:

The measure Obama supported contained a provision -- which is not part of his current tax proposals -- that would have increased the rate paid by those who have taxable income high enough to fall into the 25 percent tax bracket. The 25 percent rate would have increased to 28 percent, as it was before the Bush tax cuts. The effect would have been to increase taxes for a single taxpayer with as little as $32,550 in taxable income in 2008, after all deductions and exclusions from total annual earnings.

-- Evie Stone

9:27 PM ET | 10- 2-2008 | permalink

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