Monday, September 8, 2008

Calculate your tax cut

I found this fun site http://alchemytoday.com/obamataxcut, which calculates how much you will be taxed under the Obama and McCain plans. I get a ~$980 tax cut under Obama. McCain would tax me ~$900 more than Obama.

Update:
Here is a graphical representation of McCain and Obama tax plans. It's from the Washington Post, who I am a little annoyed with at the moment, but it seems to follow the taxpolicy.org calculations

3 comments:

Karina said...

I'm suspicious. Did you try all of the different numbers? At $100K and $125K, it says I won't get one, would get $235.76 for $150K, and $2775.62 for for $200K, then nothing for $500K plus. This seems very weird. Also, I would like it if it told me the Obama and McCain numbers instead of not presenting McCain plan numbers when you might get a bigger tax cut from McCain.

Paulina said...

I think it falls apart after
$75000 for single, since Obama tax cuts are for those who don't make much. I agree with you on Obama and McCain numbers would be better than just Obama numbers. Also, they can't take into account anything other than pure adjusted gross income. I still think it's a fun link though.

Paulina said...

So I looked up the 'how do we calculate the tax cut' and followed the links to the taxpolicycenter.org
and you can see where the single no dependent $100 and $125K gets differnent tax breaks than $150K and $500K. Why, I have no idea. Hmmm....