These are the proposed tax plans for the two candidates. You can see that McCain intends to further reduce the tax burden of the wealthiest Americans at the expense of the middle and lower income families. Obama’s plan increases taxes on the wealthy, especially that top 1%, to the benefit of working americans - a first step in reversing the rich-get-richer trend and toward re-building a real middle class. In fact, Obama has offered to actually raise his own taxes for the benefit of the country as a whole. Where are you in this table?
……………… MCCAIN …………. OBAMA
Income ……. Avg tax bill ……. Avg. tax bill
Over $2.9M …. -$269,364 (-4.4%)… +$701,885 (+11.5%)
$603K and up…. -$45,361 (-3.4%)… +$115,974 (+8.7%)
$227K-$603K…… -$7,871 (-3.1%)…….. +$12 (+0.0%)
$161K-$227K…… -$4,380 (-3.0%)….. -$2,789 (-1.9%)
$112K-$161K…… -$2,614 (-2.5%)….. -$2,204 (-2.1%)
$66K-$112K …… -$1,009 (-1.4%)….. -$1,290 (-1.8%)
$38K-$66K …….. -$319 (-0.7%)….. -$1,042 (-2.4%)
$19K-$38K …….. -$113 (-0.5%)……. -$892 (-3.6%)
Under $19K ……… -$19 (-0.2%)……. -$567 (-5.5%)
http://money.cnn.com/2008/06/11/news/eco nomy/candidates_taxproposals_tpc/?postve rsion=2008061113
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