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  Obama Economic Plan Includes Tax Breaks
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ContributorServo 
Last EditedServo  Sep 18, 2007 10:57am
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News DateTuesday, September 18, 2007 04:00:00 PM UTC0:0
Description Democratic presidential candidate Barack Obama is proposing more than $80 billion in annual tax relief for workers and seniors funded by an increase on wealthier investors.

Obama wants to give 150 million working Americans a $500 tax credit, expand relief for homeowners, eliminate income taxes for seniors making less than $50,000 and simplify tax returns so millions of Americans can file in less than five minutes, according to a summary document provided by his campaign.

Obama's campaign said he would pay for his proposals by closing corporate tax loopholes, fighting international tax havens and raising the top rate on capital gains and dividends. But the campaign did not provide specifics in advance about how high the rate would be raised or how much income each of those proposals would generate.
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