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Declared 2012 Democratic Presidential Candidate
Current President of the United States
Barack Obama
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Obama position on Taxes
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• 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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