Joe Biden was correct in his statement that folks making $150,000 would get a tax cut. The oversimplification of the Obama tax policy and the 'taking one phrase out of context' is again mccain/palin sleaze tactics.
Here it is; study it and learn it and make repulsivecants look bushesque!
Per the Tax Policy Center, here is how Barack Obama's tax plan breaks down for individuals:
$0-$18,891 = $567 tax cut $18,982-$37,595 = $892 tax cut $37,596-$66,354 = $1,118 tax cut $66,355-$111,645 = $1,264 tax cut $111,646-$160,972 = $2,135 tax cut $160,973-$226,918 = $2,796 tax cut $226,919-$603,402 = $121 tax increase $603,403-$2.87 million = $93,709 tax increase $2.87 million-plus = $542,882 tax increase
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