• Obama's plan is to introduce tax cuts for most small businesses and ninety five percent of
the people. During the 2008 Presidential Debate against John Mc Cain, Obama stated that "I want to
provide a tax cut for 95% of the Americans the vast majority of small businesses would get a tax cut
under my plan."

• Obama feels that there is no need of $300 billion on tax cuts for people who do not need
them. In his first Presidential debate he proclaimed that "If we are spending $300 billion on tax
cuts for people who do not need them and are leaving out health care, which is crushing on people
all across the country, then we have made a bad decision and I want to make sure that we're not
changing our long term priorities."
 
• He stands for a cut in the taxes for the middle class to provide some respite for
struggling house owners.

• Obama believes in expanding the earned income tax credit. He once stated that "We have to
break the cycle of poverty and violence that's gripping too many neighborhoods in this country.
That's why I'll expand the Earned Income Tax Credit- because its one of the most successful
anti-poverty measures we have."

• Obama wants to retain an inheritance tax on the wealthiest citizens that others have fought
to repeal. 

• Obama opposed the suspension of the federal gas tax during the 2008 summer.

• Obama advocates for the elimination of income taxes for seniors making less than $50,000
and wants simplify their tax filing process.

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