The Obama versus Romney Tax Calculator - post this everywhere and send to all your friends

Here is a tax calculator to see what the difference is between the taxes you would pay under the Obama plan vesus the Romney plan.

Simply put in your annual income and the number of dependents

http://www.barackobama.com/tax-calculator/

These figures are based on a study released by a nonpartisan group - Tax Policy Center, a joint project of the Brookings Institution and the Urban Institute. The study was headed by an economist who was a adviser to President George W. Bush

WaPo: Nonpartisan Study: Romney tax plan would result in cuts for rich, higher burden for others

By Lori Montgomery, Published: August 1

The Washington Post Mitt Romney’s plan to overhaul the tax code would produce cuts for the richest 5 percent of Americans — and bigger bills for everybody else, according to an independent analysis set for release Wednesday.

The study was conducted by researchers at the nonpartisan Tax Policy Center, a joint project of the Brookings Institution and the Urban Institute, who seem to bend over backward to be fair to the Republican presidential candidate. To cover the cost of his plan — which would reduce tax rates by 20 percent, repeal the estate tax and eliminate taxes on investment income for middle-class taxpayers — the researchers assume that Romney would go after breaks for the richest taxpayers first.

They even look at what would happen if Republicans’ dreams for tax reform came true and the proposal generated significant revenue through economic growth.

It is not mathematically possible to design a revenue-neutral plan that preserves current incentives for savings and investment and that does not result in a net tax cut for high-income taxpayers and a net tax increase for lower- and/or middle-income taxpayers,” the study concludes.


http://www.washingtonpost.com/business/economy/study-romney-tax-plan-would-result-in-cuts-for-rich-higher-burden-for-others/2012/08/01/gJQAbeCCOX_story.html