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The $32,000 Question
The $32,000 Question — July 8, 2008:
The McCain campaign claims that Obama voted to raise income taxes on individuals who earn as little as $32,000 per year. That’s wrong.
- The resolution Obama voted for would not have increased taxes on any single taxpayer making less than $41,500 per year in total income, or any couple making less than $83,000. The $32,000 figure is approximately the taxable income of a single person making $41,500 per year, after all deductions and exclusions.
- Obama’s vote (for a non-binding budget bill) does not change the fact that his own tax plan would provide a tax cut of $502 for a non-married taxpayer earning $35,000.
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