Wednesday, June 11, 2008

McCain VS. Obama - Taxes

Here is a table showing the change in your tax bill in 2009 vs 2008 if McCain or Obama's policies are fully implemented:

McCain Obama
Income Avg. tax bill Avg. tax bill Difference


Over $2.9M -$269,364 +$701,885 +$971,249
$603K and up -$45,361 +$115,974 +$161,335
$227K-$603K -$7,871 +$12,000 +$7,883
$161K-$227K -$4,380 -$2,789 +$1,591
$112K-$161K -$2,614 -$2,204 +$410
$66K-$112K -$1,009 -$1,290 -$281
$38K-$66K -$319 -$1,042 -$723
$19K-$38K -$113 -$892 -$779
Under $19K -$19 -$567 -$548

Source:Tax Policy Center

From the table, we can see that if you make less than $112,000 a year, then you will pay less in taxes under Obama's policies compared to McCain's. According to the IRS, 89% of Americans report less than $100,000 in adjusted gross income (2005).

Perhaps it's worth showing this table to your undecided and Republican friends to let them know just how much they stand to lose under a McCain presidency.

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