An exploration of my life as I know it. Knitting, working, creating, and cat-wrangling.

Thursday, October 16, 2008

More People need to see this... feel free to cross-post, link-to, copy and paste, or whatever to help pass this along.  I copied this from Parade.  It's pretty safe to say that I don't know anyone in the top five percent, so if you fall into one of the "lower" groups it should be clear who you should vote for.  Just sayin'.

How Much Would You Pay in Taxes?
Sens. Barack Obama and John McCain both say they’ll cut federal taxes if elected. Here’s what their proposals would mean for you.

  Obama McCain
If you make... you'd   
less than $19,000 $567 $21
$19,000-$37,600 $892 $118
$37,600-$66,400 $1118 $325
$66,400-$111,600 $1264 $994
$111,600-$161,000 $2135 $2584




If you're in the top 5% of earners... you'd pay  
an extra...
$227,000-$603,400 $121 $8159
$603,400-$2.87 million $93,709 $48,862
more than $2.87 million $542,882 $290,708

*Source: Tax Policy Center. Numbers have been rounded. For complete details, go to

If your annual salary is less than $112,000, you’d pay less in taxes under Obama’s plan; if your salary is higher, McCain would cut your taxes more. “While the aggregate tax cut is bigger for McCain, a larger number of voters get more money under Obama,” says Alan Viard, a tax-policy expert at the conservative American Enterprise Institute. “Obama is choosing to emphasize tax cuts for the middle class, whereas McCain’s strategy is to keep rates lower at the top as a way to facilitate long-run growth.” For example, a person with an income of $1 million could see his taxes increase under Obama by as much as $94,000, whereas under McCain’s plan he could save about $48,000.

— Rebecca Davis O'Brien

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