11/12/2007
Obama - Raise Social Security taxes
Obama is proposing raising payroll contributions on Social Security. GOP screaming “Obama wants to raise your taxes11″ in 3 - 2 - 1…*poof*…
WASHINGTON (AP) — Democrat Barack Obama said Sunday that if elected he will push to increase the amount of income that currently is taxed to provide monthly Social Security benefits.
Obama and other Democratic presidential candidates previously have signaled support for this idea.
Currently, only the first $97,500 of a person’s annual income is taxed. The amount is scheduled to rise to $102,000 next year.
Obama’s proposal could include a gap or “doughnut hole” to shield middle-income earners from paying more in taxes, he said.
