Election Tax Calculator

[HowardRoark]

There is more to this story though......marital deductions (estate planning), etc.

More revenue will be coming into the Treasury and out of our pockets in an Obama regime.

[rdanomly]

There is more to this story though......marital deductions (estate planning), etc.

More revenue will be coming into the Treasury and out of our pockets in an Obama regime.

Someone has to pony up for W's contractor friends working in Iraq.

[mraynrand]

There is more to this story though......marital deductions (estate planning), etc.

More revenue will be coming into the Treasury and out of our pockets in an Obama regime.

I doubt it. The economy will contract, businesses will leave, and revenues will drop sharply. If Obama guts the military (cutting spending in half and leaving Iraq immediately), he might recoup enough to hold even, but he's made a lot of promises to the military and veterans as well, so this is unlikely, at least within the first 2-3 years of his administration. I honestly don't know where the money for his spending proposals will come from. perhaps there will be a way to increase the loaves and fishes, Obama willing..

[HowardRoark]

There is more to this story though......marital deductions (estate planning), etc.

More revenue will be coming into the Treasury and out of our pockets in an Obama regime.

I doubt it. The economy will contract, businesses will leave, and revenues will drop sharply. If Obama guts the military (cutting spending in half and leaving Iraq immediately), he might recoup enough to hold even, but he's made a lot of promises to the military and veterans as well, so this is unlikely, at least within the first 2-3 years of his administration. I honestly don't know where the money for his spending proposals will come from. perhaps there will be a way to increase the loaves and fishes, Obama willing..

Yes, you are right (forgot my Laffer Curve), but the second part of my sentence I stand by.

BTW....keep this stuff up:

perhaps there will be a way to increase the loaves and fishes, Obama willing...

it's the only humor I have so far this week.

[HowardRoark]

Someone has to pony up for W's contractor friends working in Iraq.

Does that fit on one bumper sticker, or does it take two? And what color Volvo does it look best on?

[Scott Campbell]

I doubt it. The economy will contract, businesses will leave, and revenues will drop sharply.

Agreed. Rates will be up, but 40% of 0 is still 0. That's what pandering to the economic underachievers will get you.

[MadScientist]

Obama keeps harping away at how he would CUT taxes for 95% of the population--everybody with income under $250,000 per year. How is that a LIE--when he keeps repeating it? The answer is that Obama would NOT renew the Bush tax cuts. Therefore, the net effect--the major INCREASE from that non-renewal of the Bush cuts combined with the lesser DECREASE of Obama's redistribution program--cutting for lower income, raising for higher incomes amounts to a net increase--even for the great majority of the 95% Obama claims to be cutting taxes for.

Tex I pointed out in the other thread (complete with an independent link) that your statement is bullshit. Obama's plan would continue the existing tax cuts for the under $250K taxpayers ($200K for individuals). If you wish to argue merits of various proposals fine, but start with actual facts instead of ignorance or outright lies.

Forgive me if I don't believe that, MadScientist. I'm fairly sure Obama is on record as saying he would vote against extending the Bush tax cuts as a senator. Do you have evidence that Obama claims he wants the Bush tax cuts extended? I really don't believe he advocates that. If you already posted that, please repost it, as I missed it.

Here's a couple:

http://money.cnn.com/galleries/2008/news/0806/gallery.election_issues/11.html

And for a more complete look at both proposals, here's the analysis used in the calculator:

http://knol.google.com/k/jeffrey-gramlich/the-mccain-and-obama-tax-plans-for/2k7f943jjgete/3#

Scroll down to the section on tax rates for the discussion.

There is no credible source for your take on things.