Obama's 'No Income Taxes on Seniors' Draws Critics

Obama's plan to not tax seniors with incomes under $50,000 draws critics even among his allies By ANDREW TAYLOR Associated Press Writer WASHINGTON August 12, 2008 (AP) If you're a senior citizen and make less than $50,000 a year, Barack Obama has a deal for you: the rest of your life free of federal income tax. Democratic presidential candidate Sen. Barack Obama, D-Ill., speaks to the media about the conflict... Sounds appealing, right? Maybe to many seniors. But tax policy experts in Washington are giving it bad reviews. They see it as another subsidy for senior citizens, who already get federal help through Social Security and Medicare and often have economic advantages over other demographic groups. Seniors typically have paid off their mortgages. Many have investments and usually don't pay taxes on their Social Security... [read full story]