Aces High Bulletin Board

General Forums => The O' Club => Topic started by: DREDIOCK on September 10, 2008, 09:51:21 PM

Title: Tax comparisons the two candidates
Post by: DREDIOCK on September 10, 2008, 09:51:21 PM

      Can someone fix this for me


                  McCain               Obama

Income     Avg. tax bill     Avg. tax bill Over $2.9M    -$269,364    +$701,885 $603K and up    -$45,361    +$115,974 $227K-$603K    -$7,871    +$12 $161K-$227K    -$4,380    -$2,789 $112K-$161K    -$2,614    -$2,204 $66K-$112K    -$1,009    -$1,290 $38K-$66K     -$319    -$1,042 $19K-$38K     -$113    -$892 Under $19K    -$19    -$567

Title: Re: Tax Tables
Post by: Anaxogoras on September 10, 2008, 09:53:55 PM

You really should include a source when you post stuff like that.

Title: Re: Tax comparisons the two candidates
Post by: DREDIOCK on September 10, 2008, 09:55:40 PM

My source was

http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc/index.htm

THEIR source was

The Tax Policy center
http://www.taxpolicycenter.org/index.cfm

Title: Re: Tax comparisons the two candidates
Post by: Anaxogoras on September 10, 2008, 09:56:30 PM

Much better. :aok

Let's see here, do I make more than $100,000?  No?  Hmmmmmm.... ;)

Title: Re: Tax comparisons the two candidates
Post by: DREDIOCK on September 10, 2008, 10:13:28 PM

Here's another site where you can compare ALL the candidates

http://www.taxfoundation.org/candidates08/

Title: Re: Tax comparisons the two candidates
Post by: DREDIOCK on September 11, 2008, 07:03:31 AM

Nobody has anything to say about this?

I figured at least one person would be pointing out either flaws. Or using it to show why one persons policies were better then the other

Title: Re: Tax comparisons the two candidates
Post by: Speed55 on September 11, 2008, 07:28:05 AM

Just from the numbers i like McCain's policy.  There's a drop across the board.

With Obama there's a robin hood effect.

Title: Re: Tax comparisons the two candidates
Post by: Mojava on September 11, 2008, 07:43:07 AM

 So with Obama, if you make under $225,000 a year then you get a better tax break.  I also saw where small business owners get a break in employee heath care costs under Obamas plan. 

  I hope these details are on the forefront come debate time, instead of flag waving and saber rattling.

Title: Re: Tax comparisons the two candidates
Post by: Sabre on September 11, 2008, 12:50:33 PM

The misleading thing is, Obama's "tax break" for the poorer income is actually a tax credit; those in the lowest tier pay none, or very little taxes, and in general actually already get more back then they pay in, due to the earned-income credit and child tax credit.  So, Obama's plan is actually more "Robin Hood" than it appears on the surface.  It is income redistribution, a basic socialist tenant.  The bottom 50% of earners pay less than two percent of tax revenues.  Who creates jobs? Not the government, but business...especially small businesses in the current economy.  Obama's plan will result in a loss of tax revenues, due to the depressing of ecomomic activity that unerringly results from increasing all ready high tax rates on the job-makers.  Cutting a person's tax rate will not help if that person has no job to go to and earn money to be taxed.

Title: Re: Tax comparisons the two candidates
Post by: Dos Equis on September 11, 2008, 01:04:35 PM

Drediock's post contains an incorrect premise; that the current state is equitable. It is not.

Buffett for instance, pays a REAL tax rate of 17.7%. His secretary pays 30%.

See:
http://www.timesonline.co.uk/tol/money/tax/article1996735.ece?print=yes

So, before showing the differences, you may wish to think about where the start line was.

Also, I noted that the last line of the article was not mentioned. Funny that...

Tax studies have shown that when tax cuts are deficit funded and they're paid for by raising taxes in the future, "the economy is worse off than if you didn't cut at all," Burman said

If there was ever a better repudiation of the Tax cut that Bush enacted, I don't know what it is.