How Much Would You Pay in Taxes?

[4 t 4]

Under the Obama plan you really only start to pay more Tax if you make More that $603,400 Octobe 12 2008


How Much Would You Pay in Taxes?
Sens. Barack Obama and John McCain both say they’ll cut federal taxes if elected. Here’s what their proposals would mean for you.
October 12, 2008
Obama McCain
If you make... you'd save... you'd save...

less than $19,000 $567 $21
$19,000-$37,600 $892 $118
$37,600-$66,400 $1118 $325
$66,400-$111,600 $1264 $994
$111,600-$161,000 $2135 $2584
$161,000-$227,000 $2796 $4437

If you're in the top 5% of earners... you'd pay an extra... you'd save...

$227,000-$603,400 $121 $8159
$603,400-$2.87 million $93,709 $48,862
more than $2.87 million $542,882 $290,708

*Source: Tax Policy Center. Numbers have been rounded. For complete details, go to TaxPolicyCenter.org.


If your annual salary is less than $112,000, you’d pay less in taxes under Obama’s plan; if your salary is higher, McCain would cut your taxes more. “While the aggregate tax cut is bigger for McCain, a larger number of voters get more money under Obama,” says Alan Viard, a tax-policy expert at the conservative American Enterprise Institute. “Obama is choosing to emphasize tax cuts for the middle class, whereas McCain’s strategy is to keep rates lower at the top as a way to facilitate long-run growth.” For example, a person with an income of $1 million could see his taxes increase under Obama by as much as $94,000, whereas under McCain’s plan he could save about $48,000.

— Rebecca Davis O'Brien

[RUMMYisFROSTED]

1. 100% if....

Food
Water
Health Care
Warmth
Shelter
Crack
Hookers

[pinto]

2. Kick.

Now that's pretty straightforward. Even the admission from AEI that McCain is in it for the wealthiest of Americans, *not* the middle class.

:kick:

[Donnachaidh]

3. please post the source link. n/t

[4 t 4]

6. Source is on my post but here it is

Source: Tax Policy Center. Numbers have been rounded. For complete details, go to TaxPolicyCenter.org.

[Skidmore]

4. May I send this text around to a few people?

[4 t 4]

7. Please Please do I would like this to be everywhere! n/t

[napi21]

5. One BIG THING that is not being explained is that those numbers

actually are "TAXABLE INCOME"! If you have ANY deductions, dependants, home mtg, RE Taxes, etc, the term "What you make" or "Income" is irrelevant! Perhapse it's not as important when you're talking about the average person or family, but it really ticks me off when I hear the Pubs constantly screaming about how HIGH corporate taxes are in the US! They try to make everybody believe that all corps. pay 25%-35% of their income! NOT TRUE!!!! In all cases, it should always be termed "TAXABLE INCOME"!

[4 t 4]

8. I guess that really is what I think about

average person or family because we are 95%. Thanks for your reply though, your right too!!