The Tax Issue

Topics: Taxation, Democratic Party, John McCain Pages: 1 (388 words) Published: January 8, 2013
The issue that I choose to write about is taxes. Taxes go towards our schools, social security, Medicare, transportation, etc. The state of Maryland takes about 30% out of paychecks for taxes. I choose this issue because I found this issue a very interesting debatable topic. Both Barack Obama and Mitt Romney have intriguing perspectives on this topic. I also choose the issue of taxes because the issue is significant. Whatever decision that is made on taxes can affect us economically and can affect our daily lives. Mitt Romney has an interesting stance on taxes. In his speech at the 2012 Republican National Convention, he says: that “Obama’s plan to raise taxes on small business will not create jobs, but will eliminate jobs.” Mitt Romney claims that he will not raise taxes on the middle class of America. Romney also believes that Obama has “inflicted on our fiscal health over the past three years.” Mitt Romney’s Tax plan includes lower marginal tax rates. His tax plan also includes tax cuts for the wealthy and making 20 percent cuts in marginal tax rates. It will also eradicate the Death Tax and cut cooperate taxes to 25 percent. His tax plan will strengthen and make permanent R&D tax credit. He says: “To Repair the Nation’s tax code, marginal rates must be brought down to stimulate entrepreneurship, job creation, and investment, while still raising the revenue needed to fund a smaller, smarter, and simpler government.” Barack Obama has an interesting stance on taxes and disagrees with Mitt Romney’s stance. He claims that in his years as president, he has cut taxes for those who need it. He was referring to middle class families, small businesses, etc. Barack Obama claims that his plan would cut deficit by a trillion dollars. He wants to reform our tax code and end loopholes for millionaires and billionaires. In the 2012 Democratic National Convention he said: “I refuse to ask middle class families to give up their deductions for owning a house or raising...
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