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OBAMA & SENIORS. Also worth noting is that Barack Obama will be holding his own forum with seniors tomorrow in Ames, Iowa, and that this week he released a plan to eliminate income taxes for seniors who earn less than $50,000. That promise is likely to end taxes for the vast majority of seniors in Iowa, considering that if you make $60,000 a year out there you're pretty close to rich.
--Garance Franke-Ruta
COMMENTS (7)
Sounds like this might be Obama's way of making up for missing the AARP forum, without looking like he's going back on his word or playing favorites. It may or may not be enough to blunt the damage. I guess we'll see.
Posted by: Moonlight | September 20, 2007 3:10 PM
Obama is holding an event in Atlanta with Usher and 'Nique at the World Congress Center scheduled quite a while ago.
Posted by: Th | September 20, 2007 3:58 PM
"...considering that if you make $60,000 a year out there you're pretty close to rich."
??? What's up with the "hick-bashing"? Quickest Google result for Iowa shows "According to data released by the US Census Bureau, in 2000, the median household income was $42,993 compared to the national average of $42,148. In 2001, the median income for a family of four was $61,656 compared to the national average of $63,278. For the period 1999 to 2001, the average poverty rate was 7.7% which placed it 5th among the 50 states and the District of Columbia ranked lowest to highest." Seems pretty normal to me...
Posted by: dilford | September 20, 2007 5:34 PM
I read the "close to being rich" comment as a reference to the lower cost of living relative to major urban centers, not as hick bashing.
In any event, income is not a reliable measure of wealth, particularly for elderly people. For example, a wealthy retired person could have two million dollars invested in stocks with a 2% dividend yield, and a nice house with no mortgage. Assuming no other sources of income, that person would have a $40,000 annual income and qualify for Obama's proposed tax exemption. That's not what I would call good tax policy.
Posted by: Dillon | September 20, 2007 7:16 PM
This is shocking and disheartening- a blatant pander to an already over-influential constituency. I can see no reasonable justification to base income taxes on a person's age.
Posted by: Anthony Damiani | September 21, 2007 3:46 AM
Thank you, Dillon. Yes, that was a reference to the cost of living in Iowa.
Posted by: Garance Franke-Ruta | September 21, 2007 8:10 AM
Oh great, let's increase taxes on the young even more. EVen if he doesn't pass a tax increase on the young, the added debt will end up being ours anyway.
From a generational standpoint, it is the elderly of today who wracked up this huge debt. They need to take responsibility, and I'm ashamed that OBama would sell out his biggest constituency this way to pander for elderly votes.
Posted by: Adam Herman | September 22, 2007 10:07 AM