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Want to find out what your family's tax cut will look like under Obama?

From the non-partison group The Tax Policy Center. Enter in your family size, estimated income and number of dependents and you will get the estimated tax cut under Obama vs. Mccain. It is very useful people! Do it now!

http://alchemytoday.com/obamataxcut/

Answer Question
 
Anonymous

Asked by Anonymous at 2:15 PM on Oct. 7, 2008 in Politics & Current Events

Answers (12)
  • according to that site my cut is just over $900.
    who knows how the tax situation will work out anyway. if it means we can borrow less money from china, i'd be fine with paying more taxes even if that means i'll struggle more financially.
    heatherama

    Answer by heatherama at 2:18 PM on Oct. 7, 2008

  • I LOVE IT!! Great website!!
    amydh

    Answer by amydh at 2:21 PM on Oct. 7, 2008

  • there may be a tax cut with income, but we will more than make up for it other types of taxes! We will be spending more than we currently do.
    Anonymous

    Answer by Anonymous at 2:50 PM on Oct. 7, 2008

  • Huh, so the extra $71 I get from Obama makes everything else worth ignoring?
    Not to mention, the flaw with this web site's estimate is that it fails to take into account all the other deductions that may or may not be available via each plan - things like capital gains taxes, charitable giving, health-care, etc. When you add in those things (or take out based on the plan) the resulting dollar totals may NOT be as black and white as this site is trying to make it out to be. Sure those things I mention may show up in the impact of "adjusted gross income" BUT people inputing their info do so assuming the tax laws apply as they are today. If the rules of what you can 'deduct" change - so does your AGI #s.
    Anonymous

    Answer by Anonymous at 2:56 PM on Oct. 7, 2008

  • i would get almost $900 more from obama then mccain!!
    Anonymous

    Answer by Anonymous at 3:03 PM on Oct. 7, 2008

  • You may get $900 more on the surface, but it doesn't take everything into account and you will need to spend that $900 to get anywhere. I had $1300 more on that site but, in the end, my spending power comes out ahead with McCain.
    Anonymous

    Answer by Anonymous at 3:07 PM on Oct. 7, 2008

  • How do you know it comes ahead with McCain, did you get that info. from his website? THis site is from a non-partisan group and is a mere estimate for the taxes in 2009 alone. Read the small print.
    Anonymous

    Answer by Anonymous at 3:14 PM on Oct. 7, 2008

  • And I am willing to be taxed if it means that Obama's plan for revitalizing our school systems, helping mothers and children, paying teachers more, creating more jobs, etc. is realized. I am all for my tax money going to help our economy, rather than fund wars and such.
    Anonymous

    Answer by Anonymous at 3:18 PM on Oct. 7, 2008

  • I did read the small print
    McCain will lower taxes on businesses, so they will not have to extend their increased taxes along to others. He will also double the amount for each child from $3500 to $7000. This would leave more $$ all the way around.

    Plus, many of the tax laws are set, this year to revert back to the Clinton levels.

    Teachers are not paid due to federal mandate, their salaries are based on their local school districts---example average teacher salary in the St. Louis area is reported to be around $60k, where I live, it is $48k, where my in-laws live, $33k, my stepdad as a teacher made about $49k when he retired a few years ago. Teachers need to make more money but that should be a state issue, not a federal one leading to BIG government. Jobs will be created if businesses don't have to pay so much in taxes. Mothers and children will be helped if their buck has more spending power.
    Anonymous

    Answer by Anonymous at 3:49 PM on Oct. 7, 2008

  • "Your Obama Tax Cut:
    $490.40

    This is $476.66 more than the $13.74 cut you will get from McCain."

    Yeah, seriously.
    OH. MY. GOD.
    Just another reason for me to vote for Mr. Obama.

    caitxrawks

    Answer by caitxrawks at 3:50 PM on Oct. 7, 2008

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