Tags: obama | biden | tax | plan

Obama, Biden Shift 'Tax Break' Threshold

By Rick Pedraza   |   Tuesday, 28 Oct 2008 05:25 PM

Barack Obama’s “spread the wealth” tax plan took another hit today when a new campaign ad debuted over the weekend shifting the presidential candidate’s definition of rich from those making more than $250,000 to those making $200,000.

Obama, who repeatedly has said the new tax structure is intended only for those making over $250,000, says in the new video, “To deal with our current emergency, I’ll launch a rescue plan for the middle class that begins with a tax cut for 95% of working Americans. If you have a job, pay taxes and make less than $200,000 a year, you’ll get a tax cut.”

VIDEO: Obama Shifts Lowers Tax Break Threshold to $250,000

But not to be outdone, Obama’s vice presidential running mate Joe Biden dropped the threshold of those who should be taxed more even lower to $150,000.

Biden claims in a satellite interview with WNEP-TV in Scranton, PA, Tuesday that Obama doesn’t intend to “spread the wealth” from rich to poor, he merely wants to wants to change the structure of the Bush tax cuts to benefit lower income workers.

“Spreading the wealth is not something [Obama] is talking about, Biden says. “All the tax breaks have gone to the very, very wealthy. For example . . . under the old tax policy that was put in by George Bush, people making an average of $1.4 million a year — good people, decent people, patriotic — they’re going to get an $87 billion tax break,” Biden explains.

“What we’re saying is that $87 billion tax break doesn’t need to go to people making an average of $1.4 million. It should go . . . to middle-class people — people making under $150,000 a year.”

Biden Drops Tax Threshold from $250K to $150K

With the definition of “rich” already shifting downward, and without even having won office, the John McCain camp responded by asking, “What’s next?” when it comes to Obamanomics. How much further will the goalposts move?

“Senator Obama has made a lot of promises,” McCain said Tuesday at a rally in Pennsylvania. “First he said people making less than $250,000 would benefit from his plan, then this weekend he announced in an ad that if you’re a family making less than $200,000 dollars you’ll benefit. But yesterday, right here in Pennsylvania, Senator Biden said tax relief should only go to ‘middle class people — people making under $150,000 dollars a year.’ You getting an idea of what’s on their mind huh? A little sneak peak.”

McCain continued: It’s interesting how their definition of rich has a way of creeping down. At this rate, it won’t be long before Senator Obama is right back to his vote that Americans making just $42,000 a year should get a tax increase. We can’t let that happen.”

Biden spokesman David Wade tells Politico the Obama-Biden contradictions were more an example of the proposed tax plan, not a slip, and reiterated the promise that no family making less than $250,000 will see a tax hike. Wade also responded by saying the McCain campaign’s attacks are getting more desperate by the hour.

“As Obama and Biden have always said, under their plan no family making less than $250,000 will see their taxes increase one cent,” Wade said in a statement. “If your family makes less than $200,000 — as 95 percent of workers and their families do — you’ll get a tax cut.”

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