VP Debate - Tax Policies: Why are your tax policies not ...

SEN. BIDEN: Well, Gwen, where I come from, it's called fairness,

just simple fairness. The middle class is struggling. The middle

class, under John McCain's tax proposals, 100 million families --

middle-class families -- households, to be precise -- they got not a

single change -- they got not a single break in taxes.

No one making less than $250,000 under Barack Obama's plan will

see one single penny of their tax raised, whether it's their capital

gains tax, their income tax, investment tax, any tax.

And 95 percent of the people in the United States of America making

less than $150,000 will get a tax break.

Now, that seems to me to be simple fairness. The economic engine

of America is the middle class. It's the people listening to this

broadcast. When you do well, America does well, even the wealthy do

well. This is not punitive. John wants to add 300 million dollars --

billion dollars in new tax cuts per year for corporate America and the

very wealthy while giving virtually nothing to the middle class. We

have a different value set.

The middle class is the economic engine. It's fair. They

deserve the tax breaks, not the super wealthy, who are doing pretty

well. They don't need any more tax breaks. And by the way, they'll

pay no more than they did under Ronald Reagan.

MS. IFILL: Governor?

GOV. PALIN: I do take issue with some of the principle there

with that redistribution-of-wealth principle that seems to be espoused

by you.

But when you talk about Barack's plan to -- tax increase

affecting only those making $250,000 a year or more, you're forgetting

the millions of s