Please answer the question, do the tax cut calculator, and then do the post poll.

http://alchemytoday.com/obamataxcut/

what poll?

3 kids $35000 pays $555 under McCain ,close to $1600 under Obama

3 kids $25000 pays $0 under Mccain and clsoe to $1600 under Obama

I put your info from above in and the TAX CUT is $1,536.98 under Barack Obama's proposed policy.

Where did you get the info you posted?

Real misleading wants to put at top (maybe because it is Obama plan..but I do better on McCain plan according to this)

Obama plan
Your Obama Tax Cut:
$478.92

These numbers come directly from calculations by the independent, non-partisan Tax Policy Center. They estimate that your taxes in 2009 will change by -$478.92 under Barack Obama and -$1,162.59 under John McCain. Click here to see the relevant table for your filing status. Tax cuts for Obama and McCain are calculated by adding the changes in income tax and corporate tax estimated by the Tax Policy Center.

I was going to post the same thing:


These numbers come directly from calculations by the independent, non-partisan Tax Policy Center. They estimate that your taxes in 2009 will change by -$478.92 under Barack Obama and -$1,162.59 under John McCain. Click here to see the relevant table for your filing status. Tax cuts for Obama and McCain are calculated by adding the changes in income tax and corporate tax estimated by the Tax Policy Center.

So, actually, with McCain's plan you would get a $1,162.59 cut, right?? That is bigger than the Obama cut.

__________________
Doing the right thing isn't always the same as doing the easy thing.

Linky please.

link??????

I haven't read through it all but here's a link to start:

TPC Tax Topics | 2008 Election

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

the link is in the OP by nightowl. Just plug in some numbers.

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Doing the right thing isn't always the same as doing the easy thing.

I get over 400 more in tax cuts with the Obama plan using the information presented.

Thanks for trying. I tried to find it also by going to the website but cant find any kind of tax calculator there. Anyone else have a tax calculator to support forrestlayne and allinaugusts posts?

I did but I guess you guys make a lot more than me. I get more of a tax cut using Obamas plan.

So I plugged in single no kids and $100,00 and got this. (not a lot of people fall into this category BTW)

The results are in...

You probably will not get an Obama Tax Cut. This calculation is not perfect, and Obama has recently promised not to raise taxes for anyone making less than $250,000 per year.

These numbers come directly from calculations by the independent, non-partisan Tax Policy Center. They estimate that your taxes in 2009 will change by $97.27 under Barack Obama and -$115.14 under John McCain. Click here to see the relevant table for your filing status. Tax cuts for Obama and McCain are calculated by adding the changes in income tax and corporate tax estimated by the Tax Policy Center.

So it seems the tax calculator has not been updated since Obama has said that anyone making less than $250,00 a year will not get a tax increase. So this calculator is outdated. Does anyone have a more recent calculator that takes Obamas recent promise into consideration?

from the link above (added link) http://alchemytoday.com/obamataxcut/
How will your taxes change if Obama or McCain is elected in November?

The Tax Policy Center, an independent, non-partisan group, has estimated how taxpayers' 2009 taxes will change under the next President. Answer a few simple questions to calculate the likely change in your tax bill in 2009:

1. What's your family's filing status?
(on drop drop menu .. married One-Earner


2. How many dependent children are in your family?
(on drop down menu ..3-5)


3. What's closest to your Adjusted Gross Income?
(on drop down menu.. 75,000)



Next page: after hitting the calculate button.
"The results are in...

Your Obama Tax Cut:
$478.92

These numbers come directly from calculations by the independent, non-partisan Tax Policy Center. They estimate that your taxes in 2009 will change by -$478.92 under Barack Obama and -$1,162.59 under John McCain. Click here to see the relevant table for your filing status. Tax cuts for Obama and McCain are calculated by adding the changes in income tax and corporate tax estimated by the Tax Policy Center.

To calculate your tax cut in more details, check out ElectionTaxes.com, a calculator made by Quantrix and the University of Southern Maine.

Click here to run another calculation.
Spread the word by e-mail

Show your family and friends how to calculate their tax cut by entering your address and their addresses (separated by commas) here:
To:
From:


Text of e-mail: Hi! I just found out that I am going to get a tax cut of about $478.92 from Barack Obama in 2009 if he is elected President. You can find out what tax cut you will get from Obama and McCain at http://ObamaTaxCut.com!"

***I was using last years tax information. I put in bold the difference.
Yes, I would do better under McCain's tax plan

You guys left out this important part.

You probably will not get an Obama Tax Cut. This calculation is not perfect, and Obama has recently promised not to raise taxes for anyone making less than $250,000 per year.

As i said in pp, this calculator doesn't take this info into account. So I will ask again if anyone has a more recent calculator that does? Thanks!

That information was not on the result page I copied.
Here is the stuff on the side of the page that I copied (that makes it complete..I did not leave out the information you found which apparently is on a different result page).

"ObamaTaxCut.com

This is a project of AlchemyToday and is not related to any political campaign, party, or organization.

Contact: zach/at/alchemytoday/dot/com

These numbers are based on public statements by Barack Obama, John McCain, and their respective advisors. Actual results will vary.

Inform yourself about the candidates' plans by checking out the latest Tax Policy Center report, An Updated Analysis of the 2008 Presidential Candidates' Tax Plans.

Digg stability provided through Apis Networks' adaptive service monitor."

**As you pointed out this looks out-dated. I will see if I can find a different calculator.

The point is any calculator isn't going to be accurate. Neither Obama's or McCain's plans are workable in our current situation. Rest assured. . . your taxes will go up no matter who gets in office. And let's not forget that Congress is 1/2 of the equation here. . .

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Not sure why I got a different message. But here is a screen shot of the info I go when I plugged in single, no kids and $100,00.



ETA: In the name of accuracy, this isn't a screen shot (showing whole page) but a picture using a program called MWSnap.

Is anyone else totally confused now????

Also, are they using AGI to calculate this? I forget.

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Doing the right thing isn't always the same as doing the easy thing.

You got a different result page because you used different numbers than I used.
Apparently people will get a similiar result page with the higher income numbers.

No biggie.. I just didn't want people to think I had omitted anything important from my result page. The bottom line is some people will do better under Obama's plan others will do better under McCain's plan.

But, I would not count of any of these. With all the bailouts, etc who knows if anyone will get a tax return.

I ran into this one from Obamas website while googling tax calculator. It takes into consideration a lot of things the other doesnt. I.E. if you are a senior, if you have child care expenses, saving for retirement etc. Since it doesnt come from a non partisan site, take it or leave it.

Barack Obama and Joe Biden: Change We Need | Tax Calculator

Your Obama Tax Cut:
$2,030.06

This is $1,450.27 more than the $579.79 cut you will get from McCain.

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Come and visit the gang at TLJ
PM me for info

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.

This is a good point! This is one of the main reasons why I prefer Sen. Obama's plan to Sen. McCain's plan. Sen. Obama's plan is responsible: he pays for tax cuts for 95% of Americans by rolling back the Bush tax cuts for the top 1% of American's (people making over $250,000/year) back to what they paid under President Clinton. In fact, Obama's tax plan will result in a small increase in revenue for the Federal government according to independent analysis.

On the other hand, McCain is proposing extending Bush's tax cuts for everyone and further decreasing taxes for the richest Americans: over 80% of McCain's tax cuts go to the richest 20% of Americans! And while it's true that McCain won't raise anyone's income taxes (although he will tax health benefits for the first time), this means that his tax cuts for the rich are completely unfunded. He basically wants to add a few hundred billion dollars to the Federal debt every year to lower the taxes of the richest Americans. I don't see how this will help the economy, and it hasn't worked before.

If you're worried about the economy, think about it this way: who is most likely to spend their money in America and help the American economy recover if they get a tax cut? I think most Americans would use their tax cut to pay bills, pay rent, buy food, pay down their credit cards and mortgages, buy Christmas presents, etc. These things all help our current economic problems. People who don't need tax cuts will probably invest the money, but they probably won't invest it in a struggling American economy.

On top of that, Obama's plan will pass in a Democratic Senate. McCain's plan won't ever see the light of day -- a Democratic Senate will never let a bill get to McCain's desk that irresponsibly cuts taxes for the wealthy, so McCain can promise whatever he wants, but the odds of it coming to pass are just about zero.

You also need to understand that ANY president's tax plan or tax cuts has to go thru Congress where A LOT of changes can occur. So, what you see if might not be totally correct.
The plans do give people a better idea of how the candidate views tax burdens. tax spending. tax cuts.

I do think your site is very misleading to people. Instead of the words in RED letters saying about Obama plan saving me x amount, I would rather see a totally truthful site that does not try to slant it to any candidate.

I am new to the board as far as posting goes....but welcome. The past 8 years has almost destroyed the middle class. Trickle down economics does not work.

So true, but if he gets elected and has a Democratic* congress, he should be able to implement his plan.

*I mean a Democrat majority

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Mary

My results from each site....

Barack Obama and Joe Biden: Change We Need | Tax Calculator

Obama tax savings$1366
McCain tax savings$645


ObamaTaxCut.com - What's your Obama Tax Cut?

-$468.76 under Barack Obama
-$760.34 under John McCain.

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Once the game is over, the king and the pawn go back in the same box.

The alchemytoday one doesn't take into consideration Obamas recent proposals, i.e. childcare, saving for retirement, etc. The alchemytoday person even posted on here and said his/hers isn't correct and to go to Obamas website for accurate info.

Thanks, I should pay more attention.

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Once the game is over, the king and the pawn go back in the same box.

I found this. . .kinda interesting. It talks about the half truths and basic lies about what was debated about taxes tonight:

The Tax Foundation - Tax Foundation's "Tax Policy Blog"


On the issue of whose tax plan would provide more relief to middle-income taxpayers, Barack Obama once again brought out this line:

"And 95 percent of working families, 95 percent of you out there, will get a tax cut. In fact, independent studies have looked at our respective plans and have concluded that I provide three times the amount of tax relief to middle-class families than Sen. McCain does."

The 95 percent figure is correct. Even though many conservatives have argued that you can't cut taxes for people who pay no income taxes, most of those who are receiving refundable tax credits on the income tax side are still net taxpayers given that they do pay payroll taxes, corporate income tax, excise taxes, etc. (And even that assumes the fact a person is a net taxpayer even matters versus the net fiscal incidence of the person, and once we go down that road, at least we are actually getting somewhere on the core questions of public finance and the role of government in distributional outcomes.)

The independent study that Sen. Obama is referring to comes from Tax Policy Center, which does indeed verify this fact for middle-income tax units when you exclude the effects of the two candidates' health care plans. What Sen. Obama doesn't tell you is that Sen. McCain's health care tax plan (which he criticizes on many occasions and runs about a billion television ads a day on) would actually provide more savings to middle-income tax units (as a group) than Sen. Obama's health care plan. And when you include the effects of these health care plans, the three-times as much tax relief claim no longer holds. When TPC ran the tax plans, they analyzed the health care plans separately from the other parts of the candidates' tax plans.

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Obama says he wants to spread the wealth around and will rise taxes - this came from him.

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Lizzzz
Haunted_Studio

You know, with kids in school, we reward the ones who do good. They get good grades thru studying. They get the scholarships and awards. The ones who choose not to do so well, we use the ones who do well as a positive example. We don't say "oh, here Johnny, I understand you don't feel like studying to get those good grades, so we'll just take some of the recognition and accolades from Jimmy, who DID study and got good grades, and give that to you. Afterall, we need to spread these things out". That is NOT what we do, so why is it any different with people's wealth???

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Doing the right thing isn't always the same as doing the easy thing.

That is not what he is doing I started another post on this very subject. This is what he means by redistributing the wealth.....

Warren Buffet made 46 million dollars his tax bracket was 17%
His Secretary made 60,000.00 and her tax bracket was 30%

The upper 1% are in a lower tax bracket % wise than most of the middle class.....

Turn it around why am I busting my a$$ making less in a year than what the upper 1% make in day....but I am in a higher tax bracket % wise.

Is that what they actually wound up paying?? IOW, the secretary paid $18,000 in taxes? I just want to be sure i have that right.

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Doing the right thing isn't always the same as doing the easy thing.

It wouldn't be $18,000 but it would be 30% of her taxable income after exemptions, etc.

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Ana
The Republicans have been putting lipstick on a pig for 8 years. Is a pitbull wearing lipstick an attempt to keep us from noticing the pig?

Here is the 2007 Income tax chart. I am not understanding how the taxes are as stated by the other poster, unless it is after all the deductions, etc.... For example: If a person earns $100,000 and itemizes, gives to charity, claims whatever all things they can claim, and a person earning $45,000 does not, or does not have as many......I can see them (the ones paying $45,000) possibly having to pay more taxes. Does that make it wrong, I guess is what I want to know.

http://www.irs.gov/formspubs/article...164272,00.html


hopefully that made sense.

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Doing the right thing isn't always the same as doing the easy thing.

Thinking Mr. Buffet's income is not from a salary per se but income from investments, etc., and I'm sure he has much of it sheltered to say nothing about accountants to make sure he takes all write-offs possible. I doubt he would have made the comparison if it weren't true.

As far as "making it wrong", I certainly don't think it's wrong to legally take advantage of all tax write-offs possible if that's what you meant.

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Ana
The Republicans have been putting lipstick on a pig for 8 years. Is a pitbull wearing lipstick an attempt to keep us from noticing the pig?

yes, the write offs is what I meant. I guess what I think is that it is not comparing things equally (the way I see it, anyway) since a person with more income may be able to shelter it from taxes, as you say, and a person with less income maybe does not or can not do that.

Now, if we are talking about what is due BEFORE you start chipping away with all the deductions and such, the higher your income, the more you pay % wise, right?? That can be changed obviously if someone takes deductions and other things. Not to mention, some people receive pay that is not taxed at all, and not included as income. So, they may really bring in $100,000 but some of it isn't included or taxed.

I think the whole tax system is confusing. Hoping the poster who originally posted about Warren Buffet will weigh back in on this.

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Doing the right thing isn't always the same as doing the easy thing.

I would venture a guess that all rich people have investment income. Capital gains are taxed at a rate of 15%; much, much less than earned income.

Look at the other other post Joe the plumber. i copy from the a article i think was in time.

If anyone actually believes that EITHER candidate is going to lower their taxes in this economy, they are going to be in for a big surprise. We are shelling out so much to bail out the fat cats and the Iraq war there is absolutely no way anyone is getting anything but a rate hike. They just can't use that as a campaign slogan and get elected.

So you are compaining that Warren Buffet paid 7 million 8 hundred & 60 thousand dollars?

$7,820,000.00 in one year..damn him anyway, that selfish pig!

30% huh? wow..I'm in a much higher tax bracket than that secretary & I'm not at 30%, I don't pay a tax attny either, good old Turbo tax works just fine for us, maybe she should try it.

If his secretary is single I'm pretty sure she would be paying around 30% on her taxable income.

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Ana
The Republicans have been putting lipstick on a pig for 8 years. Is a pitbull wearing lipstick an attempt to keep us from noticing the pig?

If she is being taxed on her entire $60,000, she is paying 25%.

She would have to make between 164,500 and 357,700 to be paying 33%

Tax Brackets (Federal Income Tax Rates) 2000 through 2008

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Which is 5% less then what Mr. Buffet is quoted as saying and 10% more then he is paying. His point still is unrefutable.

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Ana
The Republicans have been putting lipstick on a pig for 8 years. Is a pitbull wearing lipstick an attempt to keep us from noticing the pig?

But like others have said. . .he is paying on income. . .that's what income tax is. Most wealthy don't earn their money as "income".

I don't buy his not using loopholes thing either. . .his tax bracket for 46 million is 35%. If he feels he isn't paying his fair share he is free to write the federal government a check.

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Nearly 8 MILLION dollars a year he hands over to the government to screw up with!

But, my question is this: After all of our exemptions, deductions, and whatever all else you can write off, our "tax" was approximately $1,500. Then, we got a child tax credit that was equal to that, so our tax was then zero, so we got back everything we paid, and then some with the add'l child tax credit. So, what was our tax %?? Zero, or negative something or other???

Then, take someone who earns $30,000 and has no or very few deductions, and acutally pays in with no refund at the end of the year...... they are clearly paying a higher percentage than me, yet I have earned much more than them.

You see, to me the statement about the rich paying less in taxes doesn't really mean anything to me. The tax system, from looking at the tables, seems to be set up for the people earning more to pay more, yet, with deductions and other write offs, which are legal, they can actually pay less. I don't know that this necessarily makes it wrong.

What about the military person who re-enlists in a Hazardous Duty Zone, receives a Re-enlistment bonus of $60,000 and is not taxed on it at all, and it is not included in their pay figure, nor are many other payments, or monies earned in a HDZ. Does that make it wrong??? You could easily have someone making $200,000 in a year, and getting a refund, since much of their income is not included or taxed.

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Doing the right thing isn't always the same as doing the easy thing.

I understand what you are saying. . .but thank the legislature for those things. They have a way of convoluding everything they touch. Maybe a flat tax is the only real fair tax.

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

I think the difference, for lack of a better word, in the amount of taxes people pay, is the deductions. If someone has no additional deductions than the standard deductions, they are taxed on ALL of their AGI.

I think there should be some types of deductions for people without children, for one thing. Is the idea behind the child credit to keep more money in your pocket to support your kids? I appreciate that, but, don't see why people with no children, or no children they can claim now, should have to basically be penalized.

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Doing the right thing isn't always the same as doing the easy thing.

closed thread......post limit reached

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