ksuchewie
09-23-2008, 12:39 PM
This isn't meant to endorse either Obama or McCain but is simply meant to pass along some information about their tax programs. McCain has said that Obama will raise taxes and Obama has said that McCain will give tax breaks to rich.
According to Tax Policy Center , a joint project of the Urban Institute and the Brookings Institution, which is a non-partisan organization (URLs are below),
Obama will lower taxes on all Americans making less than $603,402, while increasing it for those above this amount.
McCain's plan lowers taxes much less than Obama's for those making under $603,402, but does give the biggest tax breaks to those making over $603,402 and particulary those making above $2.87 million per year.
Here is the breakdown, so you can look up how much your family makes and which presidential candidates plan will help you the most...
Here goes:
If you make $0.00 to $18981: Obama saves you $160.00 per year, McCain's plan saves you $19 per year.
If you make $18,982 to $37,595: Obama saves you $892.00 per year, McCain's plan saves you $113 per year.
If you make $37,596 to $66,354: Obama saves you $1,042.00 per year, McCain's plan save you $319.
If you make $66,355 to $111,645: Obama saves you $1,290.00 per year, McCain's plan saves you $1,009.
If you make $111,646 to $160,972: Obama plan saves you $2,204.00 per year, McCain's plan saves you $2,614.
If you make $160,973 to $226,981: Obama saves you $2,789.00 per year, McCain's plan saves you $4,380.
If you make $226,982 to $603,402: Obama saves you $12.00 per year, McCain's plan saves you $7,871.
If you make $603,403 to 2.87 Million: Obama's plan raises your taxes $115,974, McCain's plan saves you $45,361.
If you make over 2.87 Million: Obama's plan raises your taxes 701,885, McCain's plan saves you $269,364.
For Obama's plan, the largest tax cut (5.5%) goes to those making under $18,981. Obama's biggest cuts are for those making under $66354. This makes up 60% of the population. For McCain, the largest tax cut goes to those making over $2.87 Million (4.4%). This group represent 0.1% of the population (147,000 people).
Incidentally, the link to the full article may be found here: http://www.washingtonpost.com/wp-dyn/content/story/2008/06/09/ST2008060900950.html
Tax Policy Center: http://www.taxpolicycenter.org/
According to Tax Policy Center , a joint project of the Urban Institute and the Brookings Institution, which is a non-partisan organization (URLs are below),
Obama will lower taxes on all Americans making less than $603,402, while increasing it for those above this amount.
McCain's plan lowers taxes much less than Obama's for those making under $603,402, but does give the biggest tax breaks to those making over $603,402 and particulary those making above $2.87 million per year.
Here is the breakdown, so you can look up how much your family makes and which presidential candidates plan will help you the most...
Here goes:
If you make $0.00 to $18981: Obama saves you $160.00 per year, McCain's plan saves you $19 per year.
If you make $18,982 to $37,595: Obama saves you $892.00 per year, McCain's plan saves you $113 per year.
If you make $37,596 to $66,354: Obama saves you $1,042.00 per year, McCain's plan save you $319.
If you make $66,355 to $111,645: Obama saves you $1,290.00 per year, McCain's plan saves you $1,009.
If you make $111,646 to $160,972: Obama plan saves you $2,204.00 per year, McCain's plan saves you $2,614.
If you make $160,973 to $226,981: Obama saves you $2,789.00 per year, McCain's plan saves you $4,380.
If you make $226,982 to $603,402: Obama saves you $12.00 per year, McCain's plan saves you $7,871.
If you make $603,403 to 2.87 Million: Obama's plan raises your taxes $115,974, McCain's plan saves you $45,361.
If you make over 2.87 Million: Obama's plan raises your taxes 701,885, McCain's plan saves you $269,364.
For Obama's plan, the largest tax cut (5.5%) goes to those making under $18,981. Obama's biggest cuts are for those making under $66354. This makes up 60% of the population. For McCain, the largest tax cut goes to those making over $2.87 Million (4.4%). This group represent 0.1% of the population (147,000 people).
Incidentally, the link to the full article may be found here: http://www.washingtonpost.com/wp-dyn/content/story/2008/06/09/ST2008060900950.html
Tax Policy Center: http://www.taxpolicycenter.org/