Has anyone else used the Obama tax calculator and doesn't trust his numbers?

Yes my business partner have run the numbers over and over again and we have decided to drastically downsize our business to stay under the 250k cap. And we dont believe thats the true cap either. Obama and Biden both have track records of being the worst and most liberal spenders in congress. Now that they have the keys to the candy store do you sincerly believe their appetitite will stop at the 250k mark?

http://taxprof.typepad.com/taxprof_blog/2008/02/mc...

As I understand it, this refers to a spread sheet from the "American Enterprise Institute. One of the posts from your source addresses the issue.

Posted by: Don Pedro of Economists for Obama | Sep 5, 2008 9:59:43 PM

This spreadsheet does not work at all. I am a CPA and an attorney with an LL.M. in taxation. I am an expert at Microsoft Excel and I am looking at the formulas and they are completely inaccurate. Cell C21 does not include reference to the percentage in C10, therefore if you do not live in New York City and change that percentage to your own state's tax rate, it has no effect. How do you make a cell (C21) which purports to calculate state tax, when it makes no reference to the state tax rate (C10)?!?

Generally speaking, why make a schedule that doesn't work for people who make less than $78,850? Not everyone is a fifth year associate at Sullivan & Cromwell making $280,000 a year. What country do you live in? I live in Manhattan as well but I understand that there is a whole great big nation outside of our island. When one Googles "obama tax calculator" on the World Wide Web your schedule comes up first, and it is utterly useless in 9,826,280 out of the 9,826,630 square miles of our country's area. Tell me the password so I can Unprotect the sheet and I will fix it for you, free of charge.

huh, do I trust the one that has the actual facts or the one based on assumptions and guesses? I'll trust the one at the site made by the guy who actually knows what his plans are.

I have not used it but I do expect my taxes to increase. He will have to find money from somewhere to fund his socialist programs. The "wealthy" can't pay for it all. Also, we have a huge deficit and we're fighting wars in Afghanistan and Iraq. How our political leaders can pretend that they will not raise taxes is beyond me! I read his lips and he lied. Obama will have to raise taxes

Remember Actions are louder than words, so let's wait and see before we confirm our fears. I think he will have no choice but to abandon on most of his liberal values that got him elected.

No, never used it, never will. I never trusted the guy, and again, I never will. Mccain should have won.

Sure have, but where are all my deductions?

No and No.