Summary Senate Minority Leader Mitch McConnell of Kentucky is running an ad blaming his opponent for contributing to high gasoline prices in the state. We find that’s a big exaggeration. […]
Summary McCain has repeatedly claimed that Obama would raise tax rates for 23 million small-business owners. It’s a false and preposterously inflated figure. We find that the overwhelming majority of […]
Summary The McCain campaign claims that Obama voted to raise income taxes on individuals who earn as little as $32,000 per year. That’s wrong. The resolution Obama voted for would […]
Q: Why does diesel fuel cost more than gasoline?
A: The main reason is rising global demand, but new environmental restrictions and higher federal taxes also are factors.
Q: What percent of taxes does the top 1 percent pay and what percent of the income do they make?
A: The top 1 percent of all households got 18 percent of all personal income and paid nearly 28 percent of all federal taxes in 2005, according to the Congressional Budget Office. The top 1 percent now pay a significantly larger share of taxes than before President Bush’s tax cuts, and also have a larger share of income.
Q: What percentage of the U.S. population makes more than $250,000 per year?
A: Roughly one in 50 households will take in more than $250,000 next year.
Q: Is the economic stimulus payment taxable?
A direct-mail piece sent to voters by the Clinton campaign twists Obama’s words and gives a false picture of his proposals: It says he “wants to raise Social Security taxes by a trillion dollars,” a big distortion. Obama has said a “good option” would be to apply Social Security payroll taxes to incomes over $97,500 a year, but that would only affect taxes paid by 6.5 percent of individuals and couples. And he hasn’t formally proposed such a move anyway.
Summary In the run-up to the Jan. 3 Iowa caucuses, Huckabee is running a TV ad featuring graphics that claim he was "tough on crime" and "brought Arkansas' crime rate […]
Q: Do members of Congress pay Social Security taxes?
A: Yes, ever since 1984.