Not So Fast With Those Numbers, David Brooks

Obama's tax rate for the rich no steeper than in the '90s

By Jonas Oransky, Newser Staff

Posted Jul 2, 2008 7:12 PM CDT

(Newser) – Despite David Brooks' attempts to “muddy” the mathematical waters, Barack Obama’s tax plan doesn’t hit the wealthy very hard—and it’s the one that helps the middle class, Jared Bernstein writes in Talking Points Memo Café. Brooks wrote in the Times that moneyed Americans would pay “over 50% of their income” under Obama, but Bernstein says the top 1% would fork over 36%, the top 0.1% only 39%—comparable to rates under Clinton.

Further, Bernstein writes, Obama will raise taxes only on those making more than $250,000 (that’s the top 3-4%) and he’ll cut middle-class rates $1,000—far more than McCain’s $300 (meanwhile, Mac would cut rates for those making $2.9 million by $270,000). Brooks also observes that Obama’s big donors are elites, but 90% of the Dem’s contributors gave less than $200.

In this Feb. 7, 2008, file photo Democratic presidential hopeful Sen. Barack Obama. (AP Photo/Rick Bowmer, File)

Democratic presidential candidate, Sen. Barack Obama. (AP Photo/Jae C. Hong)

Brooks (Getty)

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Not So Fast With Those Numbers, David Brooks

Obama's tax rate for the rich no steeper than in the '90s

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Who Are You Calling a Socialist?

McCain: Obama's tax cut plan is 'welfare'; Dem: Mac 'out of touch'

At 11th Hour, Obama Keeps His Poker Face

Insiders say Dem feels confident after long tests of primary, general election campaigns

Campaigns Call in Big Guns for Final Fireworks Shows

Obama gets Clintons, Gore; McCain counters with Schwarzenegger, Giuliani

Obama Pushes Don't-Let-Up 'Closing Argument'

'We are one week away from changing America,' Dem says in Ohio

Robin Hood, Beware: The Rich Get Poorer

Financial crisis hits US wealthiest hard, reduces inequalities

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Not So Fast With Those Numbers, David Brooks

Obama's tax rate for the rich no steeper than in the '90s

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OTHER STORIES ON OUR RADAR

Barack Obama • John McCain • taxes • wealth • Bill Clinton • middle class • David Brooks

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Who Are You Calling a Socialist?

McCain: Obama's tax cut plan is 'welfare'; Dem: Mac 'out of touch'

At 11th Hour, Obama Keeps His Poker Face

Insiders say Dem feels confident after long tests of primary, general election campaigns

Campaigns Call in Big Guns for Final Fireworks Shows

Obama gets Clintons, Gore; McCain counters with Schwarzenegger, Giuliani

Obama Pushes Don't-Let-Up 'Closing Argument'

'We are one week away from changing America,' Dem says in Ohio

Robin Hood, Beware: The Rich Get Poorer

Financial crisis hits US wealthiest hard, reduces inequalities

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