Summerwind

It does say (somewhat sneaky, but potentially accurate) "numbers come from. . ." Hmmm, I hate it when they do that. So the calculator doesn't come from TPC, just the numbers plugged into the calculator. That does lend to some legitimate suspicions.

obvious Child

It's likely that they are taking assumptions from the TPC's various 2008 election reports and quantifying some of them. However, their disclosure is less then honest. I wouldn't put much stock in this calculator. Read the reports if you have time. They seem far more worthwhile then this calculator. 45 pages however on a LCD can be a bit straining.

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Summerwind

Yep, I didn't catch their little slyness till you checked the other site. I went back thinking. . . "No, it says. . . ", then saw the sleight. My bad.

John1234

Obama is going by household income.

I plugged in 2 income earners with 2 dependants making $200,000 per year.
(What is to me, a little bit above middle class but we can call it middle class for the sake of argument.)

The tax savings came back just under 6 thousand dollars.

SouthernDemocrat

Said we would be saving 2,800 dollars a year, 71 dollars a year more than we would under McCain.

Personally, I am not so much interested in tax cuts as much as I am in returning to the kind of median income growth we saw in the 90s.

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SouthernDemocrat

Thats would be in about the top 3% of households in America.

To put some perspective into this, if your household earns over 100k a year, then you are in about the top 15% of households in America.

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shuamort

According to that, my SO gets a tax cut of $2,490.92, I get a tax cut of $433.92 which total for us: $2,924.84. If we (gays) were able to get married in Minnesota and have it recognized by the federal government, our tax cut would be $3,095.76.

chevydriver1123

Saving money at my income level doesnt matter if my company is taxed up the ying yang.

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Summerwind

Where have you gotten the idea that your company will have its federal taxes change at all? What taxes, corporate or payroll?? I'm confused, or is the health care that you may have to provide?

SouthernDemocrat

1. If your company pays corporate income taxes rather than personal income, it won't effect them directly at all.

2. The money they pay you is a deduction for them either way.

3. Most small business owners that are unincorporated and pay personal income taxes and would get a tax cut under either McCain or Obama.

4. By more significantly reducing taxes on the Middle Class than McCain would, Middle Class consumption increases, thus businesses benefit from the increased consumption.

5. If making income taxes more progressive hurt businesses, then why did the Clinton years significantly out perform the Bush years by every major economic measure (median income growth, job growth, GDP growth, stock market growth and so on)?

I am for progressive taxation and middle class tax cuts not because I want to stick it to the rich or businesses, but rather because history has shown that everyone benefits under such a system, rich, poor, and everyone in between. Thus, to me it is simply pragmatic.

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“A drink a day keeps the shrink away”

- Edward Abbey