President Barack Obama made taxes a key issue in his 2008 Presidential Election campaign. Obama advocated a tax reform that relieves the tax burden of the middle class, while seeking to eliminate tax havens and corporate loopholes.
On February 21, 2009, President Obama announced that he would ask the Treasury department to reduce the amount of taxes withheld in paychecks by April 1, an average of $65 per month for each family.MarketWatch: Obama promises tax breaks by April 1 (February 21, 2009)
Paris Hilton Tax Break
Barack Obama has referred to the Estate Tax, as a "Paris Hilton Tax Break."Obama.Senate.gov: Remarks by Senator Barack Obama on the Paris Hilton Tax Break (June 7, 2006) If elected, Obama intends to reverse the tax cuts implemented by the Bush Administration and claimed, "Its not as if rich people were suffering under Bill Clinton."On The Issues: Barack Obama on Tax Reform(October 30, 2007)
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Fast Facts
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Wants to enact PAYGO Rules in Congress
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Supports a reformed Alternative Minimum Tax
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Opposes estate tax decreases
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Opposed to repealing the Estate Tax
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