What they'll do to your tax bill...

Tagged:  

http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc...

McCain: The average taxpayer in every income group would see a lower tax bill, but high-income taxpayers would benefit more than everyone else.

Obama: High-income taxpayers would pay more in taxes, while everyone else's tax bill would be reduced. Those who benefit the most - in terms of reducing their taxes as a percentage of after-tax income - are in the lowest income groups.

No votes yet

How about my gas bill? Since Bush took office my wife and I send about $300 more per month in gasoline.
$300 x 12 = $3,600

That is way more then Bush "gave" us in tax breaks. Of coarse all he did was was borrow the money from China to "give" me my tax break, so at some point I'm going to have to may China back. Or rather my kids will...

Lets also add that my wife and I 401Ks are down around $50K and our house is dropped in value by about $40K.

But hey- we pay a few thousand less in taxes...

My ass can't take a third term of Bush.

Wow--It looks like I would save alot of money by voting for Obama.

Pink Slip

If only any of this were true. First of all, we're electing a President, not a monarch. Most of these promises have to get past the House and Senate. Secondly, if you believe the article:

Under both plans, all American taxpayers could pay a price for their tax cuts: a bigger deficit. The Tax Policy Center estimates that over 10 years, McCain's tax proposals could increase the national debt by as much as $4.5 trillion with interest, while Obama's could add as much as $3.3 trillion.

That's if either candidate actually writes the promised legislation, which I don't believe they will. In McCain's case, it will be Iran and the weapons of mass destruction hidden in the presidential mosque. If Obama Rama Ding Dong is elected, it'll be health care and schools - "I had to raise money for the children!"

I'm betting that the $4.5 trillion mark is passed up in the first four years, and we hit $6 trillion by the end of the first term. Any takers?

Mad Jack
Mad Jack's Shack

Maddie, I can't afford to place any such bets since my betting money is going towards gasoline.

Admittedly, I now pay for LESS gasoline since changing my car, but that price does keep rising.

Well, looks like it would be pretty much a wash for me.

(Except that we'll all pay in the future for whatever new deficit is created, of course.)

thanks for posting it.

by voting for that fiscally responsible, free-enterprise lovin', let-the-people keep-more-of-their-hard-earned money Obama than that reckless, untrustworthy, tax-and-spend Socialist McCain!!!

Easy choice come November!

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.