To think that Obama will give tax cuts to any one else is laughable. Bill clinton promised middle class income tax cuts when he ran, and raised taxes for everyone instead. He even started taxing social security income. He did this at a time when the economy was rebounding and ended up with tax gains to the treasury due to his hike in taxes and the increased revenue that the economy was generating. That is why he claimed to have a budget surplus when he ran for re-election (what he didn’t tell you was that they had to add in social security taxes collected but not paid out to retirees to the general budget to show a surplus).

Democrats are not in the business of giving tax cuts. They have pledged all kinds of new social programs and growth among current entitlement programs. That is how they get people to vote for them.

As a country, we can’t even afford Social security or medicare in its current form. If we add universal health care and a bad economy to the list, there is no way that Obama is going to lower taxes. NO WAY! He will try and fund his new spending with tax increases on virtually everyone and many of the tax increases he will impose on business will, soon there after, trickle down to the consumer so we will see increases in goods and services as well.

Take this to the bank because if Obama wins, you won’t have anything else to take to the bank.

Also, if income is just over 250k — is that your total income or your taxable income? Deductions before baby dropped our income (and thus taxable rate) by about 20k and about 25k after baby.

And, if 270 to 280k range is your taxable income, that takes us back to McCain’s health care proposal to tax your payroll healthcare costs, which could up your taxable income even farther.