Rasmussen. Globeandmail.com: Obama's dues bulletin has a Reagan resonance. Today.

Further still, Mr. McCain over again drew people's regard to the truth that Mr. Obama proposed higher customs rates on affluent Americans.

Given the common person's limited capacity to sympathize with the weigh down burdens of the rich, this was an unbelievable strategy. The Obama plan, though, promised pressure cuts for 90 per cent of all American families. (For mortals in the cover 0.1 per cent category, the 147,000 families with incomes in over-abundance of $2.8-million, the Obama expect provided a tribute flourish of $701,000; the McCain plan, a demand cut of $270,000.) In one avenue or another, duty rates have exerted an enormous sway on U.S. politics for 50 years.

In 1961, Democratic president John F. Kennedy lowered the meridian borderline reckon from 90 per cent to 70 per cent in one of the biggest c tithe cuts in U.S. history, a reduction even to 1.9 per cent of the country's annual income. In 1981, Mr. Reagan dropped rates dramatically, harsh the acme questionable measure from 70 per cent to 28 per cent, reducing the horde of assessment brackets to two (with a middle-class scold set at 15 per cent) and lowering taxes by an total the same to 1.4 per cent of the country's income. (Ironically, President George W. Bush holds the recording for the biggest levy open in a solitary term, chill taxes three times, across the board, by a combined supply fellow to 2 per cent of the country's annual income.) U.S. presidents almost always shortened taxes in recessions, which is itself one pretext why Mr. Obama will almost certainly do so again now. The U.S. already has one of the most liberal proceeds pressurize regimes in the fraternity - and higher rates on the delicious be prone only to slim the revenue collected from them and to raise the export of capital to offshore hiding places.

With a topmost minimal rate now of 35 per cent, the crack 10 per cent of U.S. families requite 70 per cent of all profit encumber revenue while earning only 39 per cent of U.S. pretax income.

The crest 1 per cent, by itself, pays 40 per cent. The bottom 40 per cent reciprocate no revenue tax. Mr. Obama's cross one's heart was to introduce the prune disputable merit marginally to 39 per cent to accounting more cuts for the middle class.

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