The Senator announced he would give 150 million workers a $500 payroll tax credit, expand relief on mortgage interest, eliminate income taxes for seniors making less than $50,000 and simplify returns so millions can file in less than five minutes.

How would he pay for it? First he would roll back the Bush tax cuts and then…. he didn’t say. His campaign said the following, quoted from a Associated Press article:

Obama’s campaign said he would pay for his proposals by closing corporate tax loopholes, cracking down on international tax havens and raising the top rate on capital gains and dividends.

However as the article noted “But the campaign did not say how much each of those proposals would generate.”

The article also pointed out that the Obama campaign originally said it would roll back certain Bush tax cuts to pay for the Senators proposed Healthcare plan. It now says they have enough money from “other sources” to pay for that. No one knows what those other sources are at the moment.