How McCain and Obama will change your tax bill

[Quote:]

John McCain and Barack Obama have starkly different philosophies about tax policy - how to raise the revenue needed to support government programs, spur growth and ensure economic fairness.

But voters really want to know one thing: How would the presidential candidates’ views trickle down to their tax bills? A report released Wednesday by a nonpartisan policy group in Washington, D.C., takes a big first step toward answering that question.

[..]

“Middle-class families get tax cuts that are three times larger from Obama than from McCain,” Furman said. “And the McCain plan gives nearly one-quarter of its benefits to households making more than $2.8 million annually - the top 0.1%.”

MCCAIN OBAMA
Income Avg. tax bill Avg. tax bill
Over $2.9M -$269,364 +$701,885
$603K and up -$45,361 +$115,974
$227K-$603K -$7,871 +$12
$161K-$227K -$4,380 -$2,789
$112K-$161K -$2,614 -$2,204
$66K-$112K -$1,009 -$1,290
$38K-$66K -$319 -$1,042
$19K-$38K -$113 -$892
Under $19K -$19 -$567

According to the IRS, 89% of Americans report less than $100,000 in adjusted gross income (2005). Most of them will pay LESS taxes under an Obama administration… the big problem is that you have to show the above numbers.. I don’t have the link any more, but at the time of the 2000 election, 17% of Americans thought they were in the top 1% of incomes . . . Can you imagine how many thought they were in the top 10%?

One Response to “How McCain and Obama will change your tax bill”

  1. Blaise Says:

    How would the national health care Obama plans affect the taxes vs McCains health care.


indoor-dictatorial