How do we calculate you Obama Tax Cut?
Your Obama Tax Cut is calculated simply by summing the change in Individual Income Tax and Corporate Tax (yes, lots of people pay corporate tax) reported in the following tables compiled by the Tax Policy Center:
If you want to explain the differences between the bottom-line effect of the Obama and McCain tax plans to your friends and family with simple numbers, these are the key points:
- Obama will cut taxes for 95% of Americans
- McCain will tax 80% of Americans more than Obama
- Obama will only increase taxes for the top 1% of incomes; and this isn't really an increase: he's simply going to let the Bush tax cuts expire
Here's a helpful chart to show your friends and family based on the same data I use (original image from the Washington Post):
ObamaTaxCut.com is a project of AlchemyToday.com and has no relation to the Obama campaign or any other organization whatsoever.