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How do McCain and Obama?
differ when it comes to taxes?
McCain: The average taxpayer in every income group would see a lower tax bill, but high-income taxpayers would benefit more than everyone else.
Obama: High-income taxpayers would pay more in taxes, while everyone else's tax bill would be reduced. Those who benefit the most - in terms of reducing their taxes as a percentage of after-tax income - are in the lowest income groups.
So, it looks like 98% of Americans would benefit with Obama in the White house, while 2% would benefit with McCain.
11 Answers
- Anonymous1 decade agoFavorite Answer
You missed one important part, They'll both raise taxes on the middle and lower class.
- Older and WiserLv 51 decade ago
The guy who stated capital gains above is mistaken. There are not that many paying capital gains because it only affects the stock market and real estate.
In the stock market, you have to exceed a certain amount of profit a year to have to pay capital gains. Most IRA's, mutual funds, etc., do not meet the guidelines.
In real estate, it has to be a non-principal residence that you have not lived in for 2 of the last 5 years, i.e. investments.
So, you are correct. Let me ask this though: Which plan will benefit more people AND give the government more funds to reduce the national debt? I'd say Obama's again.
Source(s): This isn't an issue for poor people, unless they're stupid. - John de WittLv 71 decade ago
I don't understand your math. If everybody sees a lower tax bill, that's 100%, not 2%. There's a difference unless the focus of your life is jealousy.
The other big difference is that when Democrats start talking about "the wealthiest," they routinely define down the definition before the bill gets through the House, and the people who get soaked are not only the wealthy but also a good chunk of the middle class, who through taxation find it isn't worth working harder or making more investments because there's no marginal return. Why work more if the extra income goes to Uncle Sam instead of to the individual?
- aiminhigh24u2Lv 61 decade ago
Your analysis is flawed. The reality is that the top 20% of taxpayers al ready pay 80%of the income taxes in the U.S.--thats a fact.
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- lawrenceba549Lv 71 decade ago
Well, let's put it this way; I prefer the taxes I pay now as opposed to making them higher...my tax refund is more than doubled under this adminstration, my take home pay is greater with the same amount of deductions and the same pay rate, and I make less than $22,000 a year.
How does making me pay more in taxes benefit me again?
- 1 decade ago
Yes, my tax cuts would go to the Richest 1% what's your point? I'm John McCain and I can't wait to give more of your money to the wealthiest Americans!
- blondeqtpie13Lv 61 decade ago
I agree, but most people haven't read the plan and think Obama is going to raise everyones taxes. I'd be happy to pay the same amount if the rich had to pay their share, too.
Source(s): Obama 08 - Anonymous1 decade ago
Politics and government suck, this country was supposed to be made by the people and for the people. Now this country has been forced to almost completely follow a dictatorship. People shouldn't be afraid of the government, the government should be afraid of their people (v for vendetta)
- Tyler MLv 41 decade ago
And the 100 million Americans who report capital gains will see those taxes double
- Anonymous1 decade ago
I hope Obama wins because i dont want to be in the war for 100 more years plus that will just put us farther in stuff america ows!!!!!!!!!