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Courtesy of The Washington Post back in June, a comparison, by brackets, of the income tax reforms proposed by the two major candidates.
The graphic, behind the cut, was prepared by the Tax Policy Center.
The short version: If your household makes less than $111K per year, you will save more money under Obama's plan than under McCain's. If you make more than that but less than $600K per year, you'll pay less in taxes under both plans, but more under Obama's than under McCain's. (Thanks mnemex for the correction.)
If, like a bare minimum McCain "rich person", you make over $5 million, you'll pay a lot less under McCain's plan. Nice to be you!
ETA: Also, check the display from del_c in my comments which adds a second dimension to help demonstrate *how many* people will benefit more from Obama's plan than McCain's.
( Numbers and pictures are more effective than numbers )
The graphic, behind the cut, was prepared by the Tax Policy Center.
The short version: If your household makes less than $111K per year, you will save more money under Obama's plan than under McCain's. If you make more than that but less than $600K per year, you'll pay less in taxes under both plans, but more under Obama's than under McCain's. (Thanks mnemex for the correction.)
If, like a bare minimum McCain "rich person", you make over $5 million, you'll pay a lot less under McCain's plan. Nice to be you!
ETA: Also, check the display from del_c in my comments which adds a second dimension to help demonstrate *how many* people will benefit more from Obama's plan than McCain's.
( Numbers and pictures are more effective than numbers )
