President (and candidate) Obama has pledged numerous times not to raise taxes on Middle-Class Americans. Any tax!
- No raise in Income Tax.
- No raise in Capital Gains Tax.
- No raise in Payroll Tax.
But – What is the definition of Middle-Class?
Who belongs to the Middle-Class and therefore ‘deserves’ to see no tax increase?
And who of us belongs to the Upper-Class and therefore ‘deserve’ to be taxed more?
1) The $250,000 threshold
On numerous occasions Obama has promised that your taxes won’t go up if you’re making under $250,000 a year.
2) The $200,000 threshold
In a campaign ad from October 2008, Obama pledged a tax cut to any family making less than $200,000 a year.
3) The $150,000 threshold
In an interview given in October 2008, Vice President (then candidate) Joe Biden said tax breaks should go to middle-class people – people making less than $150,000 a year.
4) The $97,500 threshold
In November 2007, President (then candidate) Obama said he wanted to raise payroll taxes on people making over $97,500 a year, defining this portion of the population as “upper-class”.