Promises about Taxes on The Obameter

Increase the capital gains and dividends taxes for higher-income taxpayers


Increase capital gains and dividends taxes from 15 to 20 percent for those making more than $250,000 (couples) or $200,000 (single)


>> More

Eliminate all oil and gas tax loopholes


"Eliminating special tax breaks for oil and gas companies: including repealing special expensing rules, foreign tax credit benefits, and manufacturing deductions for oil and gas firms."


>> More

Eliminate capital gains taxes for small businesses and start-ups

"Barack Obama understands that small businesses are the engines of our economy, and he will eliminate all capital gains taxes on investments in small and start-up firms."

>> More

Extend child tax credits and marriage-penalty fixes


Will extend aspects of the Bush tax cuts such as child credit expansions and changes to marriage bonuses and penalties.


>> More

Expand the earned income tax credit

Expand the earned income tax credit for workers without children and taxpayers with more than three children. Equalize threshholds for married filers and head of household filers.

>> More

Expand the child and dependent care credit


Expand and make refundable the child and dependent care credit.

>> More

Require publicly traded financial partnerships to pay the corporate income tax


Require publicly traded financial partnerships to pay the corporate income tax.


>> More

Create an international tax haven watch list


Create an international tax haven watch list of countries that do not share information returns with the United States.


>> More

Close loopholes in the corporate tax deductibility of CEO pay


Congress has set rules regarding the tax deductibility of the salaries of CEOs, but forms of non-salary compensation have become popular. Obama would look at revamping definitions of compensation.


>> More

Require economic justification for tax changes

Adopt the economic substance doctrine, a policy that states that tax changes must have significant economic justification, as a federal law.

>> More

Provide option for a pre-filled-out tax form


Will direct the Internal Revenue Service to "give taxpayers the option of a pre-filled tax form to verify, sign and return to the IRS or online. This will eliminate the need for Americans to hire expensive tax preparers and to gather information that the federal government already has on file."


>> More

Create a mortgage interest tax credit for non-itemizers


Create a refundable tax credit equal to 10 percent of mortgage interest for nonitemizers, up to a maximum credit of $800.


>> More

Make permanent the Research & Development tax credit


The Research & Development tax credit and the renewable energy production tax credit are intended to spur innovation in the private sector, but the tax credits have expiration dates under current law. Obama would make them permanent.


>> More

Require automatic enrollment in 401(k) plans


Automatic enrollment in 401(k) plans for workers whose employers offer retirement plans.


>> More

Require automatic enrollment in IRA plans

Require employers who do not offer retirement plans to offer their workers access to automatic IRAs and contribute via payroll deduction.


>> More

Create a retirement savings tax credit for low incomes


A tax credit for retirement savings up to $500 (couples) or $250 (singles). Phases out when incomes exceed $65,000 (couples) or $32,500 (single). Indexed for inflation.


>> More

End income tax for seniors making less than $50,000

"Will eliminate all income taxation of seniors making less than $50,000 per year. This will eliminate taxes for 7 million seniors -- saving them an average of $1,400 a year-- and will also mean that 27 million seniors will not need to file an income tax return at all."

>> More

Create a tax credit of $500 for workers


Enact a Making Work Pay tax credit that would equal 6.2 percent of up to $8,100 of earnings (yielding a maximum credit of approximately $500). Indexed for inflation.

>> More

Extend the Bush tax cuts for lower incomes


Extend the Bush tax cuts for those making less than $250,000 (couples) or $200,000 (single)


>> More

Repeal the Bush tax cuts for higher incomes


Repeal the Bush tax cuts for those making more than $250,000 (couples) or $200,000 (single)


>> More

Advertisement
How to contact us:

We want to hear your suggestions and comments.

For tips or comments on our Obameter and our GOP-Pledge-O-Meter promise databases, please e-mail the Obameter. If you are commenting on a specific promise, please include the wording of the promise.

For comments about our Truth-O-Meter or Flip-O-Meter items, please e-mail the Truth-O-Meter. We’re especially interested in seeing any chain e-mails you receive that you would like us to check out. If you send us a comment, we'll assume you don't mind us publishing it unless you tell us otherwise.

Browse The Truth-O-MeterTM:
Subscribe: