Reality Check on Taxes (reported on CNN) - The FACTS regarding Taxes!

[DemoRabbit]

The Tax Policy Center is the place that did the analysis...

Abstract
Both John McCain and Barack Obama have proposed tax plans that would substantially increase the national debt over the next ten years, according to a newly updated analysis by the non-partisan Tax Policy Center. Compared to current law, TPC estimates the Obama plan would cut taxes by $2.9 trillion from 2009-2018. McCain would reduce taxes by nearly $4.2 trillion. Obama would give larger tax cuts to low- and moderate-income households and pay some of the cost by raising taxes on high-income taxpayers. In contrast, McCain would cut taxes across the board and give the biggest cuts to the highest-income households.

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

Summary:

-Under Obama's Plan- By 2012, middle-income taxpayers would see their after-tax income rise by about 5 percent, or nearly $2,200 annually. Those in the top 1 percent would face a $19,000 average tax increase—a 1.5 percent reduction in after-tax income.

McCain would lift after-tax incomes an average of about 3 percent, or $1,400 annually, for middle-income taxpayers by 2012. But, in sharp contrast to Obama, he would cut taxes for those in the top 1% by more than $125,000, raising their after-tax income an average 9.5 percent.

Charts:

[magellan]

1. This is the kind of thing that needs to be put in a campaign ad

A simple chart or graph so even the simplest minds get it, along with a simple weblink to an unbiased site where people can check the figures.

[DemoRabbit]

2. We should all KNOW this and repeat it - over and over

MEMORIZE them... I don't know about you, but it's one of the most common question I get when... "aren't you worried about Obama raising our taxes??"

[mike_c]

6. so how about "aren't you worried about Obama..."

"...increasing the national debt?" It's become so fashionable for politicians to promise tax cuts that everyone feels compelled to do it, dispite the obvious disconnect from reality. If we're going to have a government, we have to pay for it somehow. Sure, Obama's financial plans sound a bit more responsible than McCain's, but I want to know how the candidates intend to provide government services without saddling our children with our debts!

[VP505]

9. There is a simple graphic, its from WAPO.

You can find it here http://www.crooksandliars.com/2008/08/27/despite-cnn-di...

[DemoRabbit]

3. edited to add charts

[DemoRabbit]

4. just bumping important info

[DemoRabbit]

5. Bumping to support additional post on the topic :)

[central scrutinizer]

7. Is there an independent comparison website?

Where you could type in last year's adjusted gross income and get the figures on how you would fare under the Obama plan versus the McW plan? If so, that site should be spread far and wide.

[Pastiche423]

8. Another reality check

Obama May Delay Reversing Tax Cuts