11-04-2008, 01:00 PM
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| Seasoned Veteran | | Join Date: Jan 2007 Location: Kentucky
Posts: 11,047
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 Incredibly Shrinking Tax Cut Part III
Could this be the final number: Hot Air » Blog Archive » Video: Middle class topped out at 70K in 2003, according to Obama Quote:
Normally, this would not amount to much, but with Barack Obama, Joe Biden, and their various surrogates having trouble finding the floor for tax cuts, perhaps more trenchant than it otherwise would be. In a 2003 interview while starting his Senate campaign, Obama said that tax cuts should have been targeted no higher than the $70K level:
Well, you know the problem was is that they weren’t targeted at the short term stimulus of the economy. What we should have done is if we were going to initiate tax cuts, and I’m a strong supporter of tax cuts for working families like the Earned Income Tax Credit, to initiate things like cuts in the Social Security tax, and other taxes that are really burdensome on families that are making 50, 60, 70 thousand dollars a year. Those tax cuts I think would have stimulated the economy.
| $70,000 boy is that a long way from $250,000.
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