Non Partisan Tax Policy Center: McCain's even more regressive than Bush

[grantcart]

This is an excellent article to share with conservative middle class friends who want lower taxes.




full report
http://www.taxpolicycenter.org/UploadedPDF/411741_updated_candidates.pdf


summary
http://www.taxpolicycenter.org/publications/url.cfm?ID=411741


The two candidates’ tax plans would have sharply different distributional effects. Senator McCain’s tax cuts would primarily benefit those with very high incomes, almost all of whom would receive large tax cuts that would, on average, raise their after-tax incomes by more than twice the average for all households. Many fewer households at the bottom of the income distribution would get tax cuts and those tax cuts would be small as a share of after-tax income.

In marked contrast, Senator Obama offers much larger tax breaks to low- and middle-income taxpayers and would increase taxes on high-income taxpayers. The largest tax cuts, as a share of income, would go to those at the bottom of the income distribution, while taxpayers with the highest income would see their taxes rise significantly.



If enacted, the Obama and McCain tax plans would have radically different effects on the distribution of tax burdens in the United States. The Obama tax plan would make the tax system significantly more progressive by providing large tax breaks to those at the bottom of the income scale and raising taxes significantly on upper-income earners.

The McCain tax plan would make the tax system more regressive, even compared with a system in which the 2001–06 tax cuts are made permanent. It would do so by providing relatively little tax relief to those at the bottom of the income scale while providing huge tax cuts to households at the very top of the income distribution.

[Captain Angry]

1. I've always wondered why tax cuts for the unbelievably wealthy works for the regular Republican

Is it that somehow they think in the next couple of years that they'll be a billionaire, so they want the policy in place for when they get there?

What is it?

[EC]

3. I think it's because the regular Republican

can't tell the difference between income and accumulated wealth.

[calimary]

2. KICK!

Good to add to the mcsame files.

[phrigndumass]

4. Kickin'

To borrow from David Swanson, why do less-well-off republican voters think they are potential billionaires? Becoming billionaires would be the only way they see any tax relief under McCain.

[grantcart]

6. lol

[grantcart]

5. morning kick