Speaking in Iowa recently, Democratic presidential candidate Barack Obama, says he wants to free upwards of seven million senior citizens from the need to file income tax returns. He finds it sad that throughout their working life they pay taxes for everything and then when they retire, their Social Security income is taxed. After working their entire lives, Obama believes they deserve a chance to live worry-free, but the increasing cost of everything is making that impossible.
USAElectionPolls.com has posted the latest Iowa polls that show a tight race between Barack Obama and the other two top candidates.
The Illinois Senator says he is against privatizing the Social Security program as well as allowing some of the funds to be diverted by members into private investment funds. The ability to receive a Social Security income upon retirement depends on many factors, according to Obama.
He rejects the notion that the only way to save a system, that he claims is not as broken as some others claim, is not to reduce benefits or increase the retirement age. He wants to end the pillaging of the Social Security fund for any other use and allow the deposits being made to continue to grow as they historically have risen.
He plan is to eliminate the need to file a tax return for citizens making less than $50,000 a year, and allowing them to use the balance for necessities such as gasoline and prescription medication. With the continually rising cost of healthcare, Obama believe by eliminating the tax burden on those who paid into it their entire lives, will help them obtain a batter quality of life through their retirement years.
