Obama Tax Cut Calculator

[Wander]

http://taxcut.barackobama.com/

Just a handy tool to calculate how much you would save on taxes under the Obama-Biden plan compared to what would be saved under McCain-Palin.

[Henrike]

Looks like my parents aren't getting any tax cuts. I'm screwed. XD

[biisme]

Originally Posted by Henrike

Looks like my parents aren't getting any tax cuts. I'm screwed. XD

If they aren't getting tax cuts, do they really need them? Doesn't that mean they have a substantial amount of money already?

[Nodnarb]

We would save around $1,000 more under Obama than McCain

We would save $500 under Obama

[Henrike]

When most of it ends up in the government's hands, no, they don't. Thanks to our economy, we're barely keeping our heads above the water. College and retirement funds have already been cut in half. If Obama is elected, 70% of their pay is going to be taken each year. My mom's pretty much the only bread winner here too, working 80 hour weeks at times. I guess it's no wonder that I'm economically conservative. =x

Originally Posted by Henrike

When most of it ends up in the government's hands, no, they don't. Thanks to our economy, we're barely keeping our heads above the water. College and retirement funds have already been cut in half. If Obama is elected, 70% of their pay is going to be taken each year. My mom's pretty much the only bread winner here too, working 80 hour weeks at times. I guess it's no wonder that I'm economically conservative. =x

I feel the same way. People would look at mine and go $500 is a good amount of money to be saving. But for a single mother who works all sorts of hours to support her kids, pay a mortgage, bills, and pets, it's really not. It's really not even enough, let alone a good amount of money. I guess it's no surprise that I share your economical conservatism.

[beckyg]

I would save $1500 under Obama and only $355 under McCain.

[Noah]

I save $1000
I think we should move beyond the income tax though

[jbb1236]

I'd only save 500, and honestly, I don't believe that Obama has the wherewithal to actually do what he plans to. Bottom line, he wants to increase government spending and decrease taxes, that doesn't add up to me, looks like there'd be a hugely unbalanced budget. Another thing, the top 10% of the nation already pay almost 60% of income taxes, why should it be there responsibility to pay even more to fund government programs that don't help them at all?

[Peter]

Not being a US citizen, I would not benefit in any way. I am impressed how, after years of corporations buying politicians, the politicians are now so obvious in buying their votes. Remember that promises made during campaigns are never covered by the "truth in advertising" laws.

[beckyg]

Originally Posted by Noah

I save $1000
I think we should move beyond the income tax though

I agree with you Noah. I mean we have alot of really good programs in the United States that are paid for with our tax dollars. The problem we have is wasteful spending. Is the money being used effectively for what it is intended?