Americans Prefer Obama Tax Plan, for Good Reason
As ThinkProgress just reported, CNN earlier today showed a deceptive chart which wrongly suggests that John McCain's tax plan provides more Americans with greater savings than that offered by Barack Obama. But CNN's upper-crust income brackets starting at $161,000 conceal the inescapable truth that Barack Obama's proposals offer working and middle class Americans steeper tax benefits at every income level up to $110,000. And according to a new Gallup poll released today, that truth isn't lost on American voters.
By 48% to 43%, Americans surveyed by Gallup say Obama would better handle the issue of taxes than John McCain. And with good reason. As the Washington Post detailed, an analysis by the Tax Policy Center showed:
"Obama's plan gives the biggest cuts to those who make the least, while McCain would give the largest cuts to the very wealthy."
Those whose income is under $67,000 - 60% of all American taxpayers - would see substantially larger tax cuts under the Obama plan. While McCain's plan concentrates 58% of its benefits to the wealthiest 1% of Americans, Obama's rollback of the Bush tax cuts above $250,000 produces tax increases for that group.
Sadly, Obama's story is not getting through. In the face of the TPC's analysis showing that 95% of American taxpayers would see savings under the Obama tax plan, 53% of the Gallup respondents wrongly believe their tax burden would increase under President Obama. Meanwhile, despite the same analysis showing McCain's plan to make permanent and expand the Bush tax cuts would produce a staggering $2.8 trillion in red ink for the federal budget, the Republican still claims the mantle of fiscal discipline.
And to be sure, CNN did American voters no favors today.