Questions to ask Obama and Biden

I’ll keep adding more economics questions to the list as I have time. But will someone ask Obama and Biden at least one of these?

Author note: While I’m away from the computer, I’m republishing my top 20 posts from 2008 each afternoon. -Steve

1. My wife and I are lucky enough to be near the top 10 percent of wage earners. 2006 tax year data from the IRS shows that those in the top 10 percent contribute about 75 percent of the federal income taxes collected. Since you want more, can you let us know what our burden will be during your administration? 80 percent? 85 percent? 90 percent?
2. You say that if we’re making less than $250,000 per year, our taxes may actually go down, and you say that you want to provide tax breaks to 95 percent, and are asking the top 5 percent to spread the wealth around since it would be good for them. IRS data shows you need to make $155,000 to be in the top 5 percent. So where is your cut off? The $250,000 or $155,000?
3. Senator, even the top 3 percent of wage earners contribute well more than 55 percent of the federal income taxes. Obviously you think that is not enough, what should be their fair share?

Quick update for you, there has been some question about the $250,000 figure and the 95 percent thing. Other numbers like $150,000 are being tossed around too.

Some say if you make over $250,000 your taxes go up, and if you make between $150k and $250k they stay the same. But Obama on a few occasions has said tax cuts for 95 percent of Americans which would be for those who make less than $155k.

Hot Air has more this afternoon.

What’s the deal? From what I can tell, this is a case of Team Barry being characteristically slippery in getting out their message. The One likes to emphasize how only people making more than $250K will have their taxes raised, but that doesn’t mean that everyone making less than that will have their taxes cut. There’s a middle segment, between $150K and $200K for individuals and $200K and $250K for families (as I understand it and as NBC understands it), whose taxes will stay the same, which means Biden is technically correct in the clip. Obama actually mentioned the $150,000 figure back in June in an interview with Fox News, but he prefers to throw around the number $250,000 doubtless because casual observers will assume that’s the threshold for tax cuts. It isn’t. It’s the threshold for tax hikes, and only for families, not individuals. Or so I deduce.

Have The One and his surrogates in fact lied about the tax hike/tax cut distinction in his plan? Saith the RNC’s oppo research team, you betcha…