Hi MyCoupons! Thanks for noticing the calculator I made. FYI, Obama's campaign has a new calculator at
taxcut.barackobama.com and there's also a new non-partisan calculator that let's you calculate your change in taxes in more detail at
electiontaxes.com.
If anyone has any questions about the results or methodology, post here and I'll answer if possible. Here are answers to a few frequently asked questions:
- Is this site biased? Obama's numbers are in a really big font at the top of the screen! I want Obama to be President, so I am biased, but the numbers I use come from the nonpartisan Tax Policy Center. I made the site after seeing a poll that said that over half of Americans think Obama will raise their taxes. Regardless of who you support for President, you have to be concerned about voters simply not knowing the facts! For example, it has to be frustrating for McCain supporters to see his opponents saying over and over again that he isn't pro-life - he is, but for some reason people think otherwise. I wanted to correct the record: for 99% of Americans, Obama won't raise your taxes.
- I make $X and it says I won't get a cut/have higher taxes even though Obama said he wouldn't cut taxes for anyone under $250K.The numbers that I use are averages that aren't perfect, and they also aren't totally up to date. I can vouch for the new calculator at taxcut.barackobama.com - it deals with a lot of problems that I ran into in using the numbers from the Tax Policy Center. I'm not an economist or tax professional and wasn't qualified to do any calculations of my own.
- How does this calculation work? Does it include Obama's capital gains rate increase? Once you get a result at ObamaTaxCut.com, click where it says, "Click here to see the relevant table for your filing status." I add the changes in income and corporate tax calculated by the Tax Policy Center. It's that simple.