Under whose tax plan will you do better - Obama's or McCain's? The answer to that question depends on how much you make. Fortunately, the Tax Policy Center has provided tables that show the effect of the McCain and Obama tax plans on representative families.
As expected, the McCain plan provides nice tax cuts for the rich - and for the less rich...not so much. For example, a married, two earner couple with no children, making $75,000 a year get no tax break from the McCain plan. From the Obama plan they get a tax cut of $1,049. Where the difference lies is in those whose incomes are over $500,000. McCain's plan provides no tax cut for these individuals, but Obama would raise their taxes by $6,727.
Thus, I recommend that if you are wealthy, you vote for John McCain. If you are not so wealthy, do yourself a favor and get a tax cut.
Subscribe to:
Post Comments (Atom)
1 comment:
Quick question. Why should you be punished for you success by paying more and more in taxes everytime you make more money? Not saying MCCain's tax plan is the best, I'd much rather have a flat tax. But why does it seem that we a so ready and willing to punish people that do in fact live the American dream?
Post a Comment