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#1
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![]() 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. ---------------------------------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 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. PDF - More Details |
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#2
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I don't think you pay federal income taxes if you make $19,000
![]() So people making near 3M get a 18% tax increase, $603,400 gets a 15.5% increase, $227,000 gets a 0.0005% increase? That seems fair ![]() Not sure why we continue to punish people who are successful. Wonder how long those businesses (because people with that amount of money, generally own a business or play a significant role in one) will stay in the US, will raise their end prices and reallocate their money ![]() And with McCain, 2.8M gets a reduction of 10%, $161K get a reduction of 3%, 0.0086% reduction for $37K. The difference, based on these numbers from McCain and Obama for the peeps making between 37K---227K would be: $8,376 vs $7,313
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An unwavering defender of those I see worth protecting. "promote the general welfare, not provide the general welfare" We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America. |
#3
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$603K-$2.87M will see an increase of $93K To calculate the percentage increase = 93K/[(603K+2.87M)/2] = 5.35% not 15% At least that is how I read it! Even within these brackets, I would think, the taxes would be progressive. A round 3% increase for those around the 250K and maybe 6-7% for those around the 2.87 M. |
#4
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Does anyone teach Civics these days?
Taxes are a just responsibility. Our country's infrastructure does not create itself. |
#5
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I don't think anyone is advocating paying ZERO taxes, but I could be wrong.
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#6
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__________________
An unwavering defender of those I see worth protecting. "promote the general welfare, not provide the general welfare" We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America. |
#7
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I believe in a flat tax or a consumption tax... Neither will ever happen in my lifetime.
Republicans had the house, senate and the white house, if they truly believed in lower taxes, they would have made the bush tax cut permanent? A wise friend of mine said one day, money in the hand of legislator is power. You will never have a legislator body (right or left) that will reduce its own power!! In the meantime, if me paying a little extra would help the country in these tough times, I am willing to do so... |
#8
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__________________
An unwavering defender of those I see worth protecting. "promote the general welfare, not provide the general welfare" We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America. |
#9
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Last edited by JGQ; 10-23-2008 at 06:27 PM. |
#10
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How do you guys manage to quote multiple sentences?? Clearly I botched the previous post!
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