Candidate's Tax Cut Calculator

To see who's tax proposals you'd do better under, goto calculator below:


http://taxcut.barackobama.com/

This does not tell the whole story, What about capital gains tax, inheritance tax, dividends tax, ect ect. remember we need to look at all of that.

Bk

Devil505 wrote:To see who's tax proposals you'd do better under, goto calculator below:

http://taxcut.barackobama.com/

And you worked for the IRS.

bksaun wrote:This does not tell the whole story, What about capital gains tax, inheritance tax, dividends tax, ect ect. remember we need to look at all of that.

Bk

You expect Obama to tell you the whole story? Come on.

bksaun wrote:This does not tell the whole story, What about capital gains tax, inheritance tax, dividends tax, ect ect. remember we need to look at all of that.

Bk

It is not meant to take the place of your accountant, for crying out loud!
Most people are just wage earners & do not have any of the things you mention above. For the vast majority of taxpayers, this simple tool will give them enough info to compare how they'd make out under both candidates.

(If any forum members here have to worry about paying an inheritance tax, I have one question:

What the hell are you doing on this forum.......SLUMMING!!!

It tells me I won't get a tax cut under Obama but won't say if I would get one under McCain. I played around with it a little entering different scenarios and it seemed programmed to not give any info on McCains plan if Obama didn't give a tax cut. Is this supposed to be an unbiased calculator?

If Obama gets in and you have a job, you will pay more. Even IF he cuts your taxes, who do you think is going to pay the massive taxes he plans for business? That's right, you the consumer. It is smoke and mirrors, he plans on spending $1.3 TRILLION more in taxes. Only taxpayers pay taxes, business just passes them on to you. They may not be your taxes, but you will pay them none the less.

titleist1 wrote:It tells me I won't get a tax cut under Obama but won't say if I would get one under McCain. I played around with it a little entering different scenarios and it seemed programmed to not give any info on McCains plan if Obama didn't give a tax cut. Is this supposed to be an unbiased calculator?

Congratulations then....You are making allot of money! (Why are you here with us peons?)

Under John McCain, you will be taxed on the employers contribution towards your health care, for the first time in history. A direct tax increase aimed, as usual, at the middle class.

I'm self employed, so I pay over $6k / year for my own individual health care plan. Do I lose my deduction under either candidates proposal? Why doesn't this site say something like you will get no tax cut from either plan rather than just specifying no tax cut from Obama's plan? Makes me think I would get something under McCains plan but they don't want to tell me that. The other question this leaves open is how much of a tax increase will I see from either plan?

I'm not voting for either guy, anyway. I just wanted a heads up as to how much this is going to cost me.

Devil505 wrote:
Congratulations then....You are making allot of money!

Yea....me & Joe the Plumber are so wealthy we can't stand it.

titleist1 wrote:I'm self employed

Then you are not easy to pigeon hole for tax purposes like most of us. Most Americans work for someone else & thus most Americans will benefit more under Obama than under McCain. If you make less than 1/4 million a year, you will benefit too.

"If you make less than 1/4 million a year, you will benefit too"

You are delusional.

Devil505 wrote:. If you make less than 1/4 million a year, you will benefit too.

That number keeps shrinking every day

Also, what about Obama's plan to imediately do away with the FICA tax cap? That's 102K, far shy of 250K

His claim he won't raise taxes, but isn't letting Bush's tax plans expire a tax INCREASE ?

vtec350 wrote:His claim he won't raise taxes, but isn't letting Bush's tax plans expire a tax INCREASE ?

Yes it is a tax increase....on those who can afford it. Obama has always said he would re institute the higher rates paid during Clinton's admin. on the top tax brackets & bring back the inheritance tax. The rich & rich corporations are losing they're man (bought & paid for) in the White House & we in the middle class are taking our country back.
Thank GW Bush for killing the Republican Party!

What about the FICA tax cap,That's a 7.5% increase over 102K