Candidates' Tax Proposals

Oct 20, 2008 1 Replies

Sorry, I read the group offline and had nothing to say in response to the OP on this issue. Then I got around to reading today's papers.



There's an article in today's Washington Post business section about the retirement savings proposals made by the candidates. What it made me realize was that you can't go just by income in answering questions about the proposals. There are all kinds of different treatments for different circumstances and types of incomes.



I'm somewhat lucky in that my clients are VITA clients, and the only tax proposal that could possibly have an adverse effect on them is McCain's proposal regarding health insurance. Were I being queried by nervous clients who actually might be affected by generic tax proposals, I'd be sorely tempted to tell them to fuggedabowdit since candidates can propose the moon, but nothing matters until Congress, more specifically, Ways & Means, gets its hands on it, and Charlie Rangel's been too preoccupied to offer much insight about his thoughts.


2) Taxes, like government overall, should be considered in a context that extends beyond just one year and just one person or family.

As a simple example, government debt is a form of (indirect) taxation.

-Mark Bole

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