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  #1  
Old 10-23-2008, 01:10 AM
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Whistle McCain vs Obama taxes

Proof for those still in doubt.


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.
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  #2  
Old 10-23-2008, 05:20 AM
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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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Old 10-23-2008, 09:13 AM
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Quote:
Originally Posted by Wagner
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
I am not sure your percentages are correct. The data provided by LemansX5 represents avereges for each bracket. For example:
$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.
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Old 10-23-2008, 10:03 AM
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Does anyone teach Civics these days?

Taxes are a just responsibility. Our country's infrastructure does not create itself.
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Old 10-23-2008, 10:13 AM
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I don't think anyone is advocating paying ZERO taxes, but I could be wrong.
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Old 10-23-2008, 10:25 AM
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Quote:
Originally Posted by AzX5
I don't think anyone is advocating paying ZERO taxes, but I could be wrong.
Exactly. Apparently the Libby's think this is an all or none game
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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.

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Old 10-23-2008, 02:26 PM
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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...
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Old 10-23-2008, 02:28 PM
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Quote:
Originally Posted by JGQ
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...
So you want to put those decisions in the hands of the same organization that created todays problems There are more then enough institutions you can privately donate money to that will REALLY help people.
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"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.

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  #9  
Old 10-23-2008, 02:43 PM
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Quote:
Originally Posted by Wagner
So you want to put those decisions in the hands of the same organization that created todays problems .
I'm not sure if you have an option there?!


Quote:
There are more then enough institutions you can privately donate money to that will REALLY help people.
I know of some and I do.

Last edited by JGQ; 10-23-2008 at 06:27 PM.
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  #10  
Old 10-23-2008, 02:45 PM
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How do you guys manage to quote multiple sentences?? Clearly I botched the previous post!
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