See how much your tax cut would be from Obama...

vindicator

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I thought this was a pretty cool tool to see how much of a tax cut you would get based on Obama's versus Mccain's outlined platform. You can plug in how many parents and dependents and your income and it will tell you what you will get back. If i were a resident, I would get almost double back from Obama's tax cuts versus Mccain's.

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

Figures are based on calculations by the independent, non-partisan Tax Policy Center.
 

vindicator

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It's all the same tool. At the end it will tell you both Obama and Mccains.

For me:

The results are in...

Your Obama Tax Cut:
$1,422.73

This is $791.59 more than the $631.14 cut you will get from McCain.

These numbers come directly from calculations by the independent, non-partisan Tax Policy Center. They estimate that your taxes in 2009 will change by -$1,422.73 under Barack Obama and -$631.14 under John McCain.



So my taxes would go down under Obama or Mccain, but i would get double the cut from Obama.
 

SeeDickRun

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These calculations are not accurate.
How can I get a tax cut of 896.24 from Obama if I don't pay any taxes?
I'm retired, and have only SSI as a taxable income. I pay no taxes on that. My other income comes from T-bills, which are not taxable.

This is more Obamabunk.
 

vindicator

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These calculations are not accurate.
How can I get a tax cut of 896.24 from Obama if I don't pay any taxes?
I'm retired, and have only SSI as a taxable income. I pay no taxes on that. My other income comes from T-bills, which are not taxable.

This is more Obamabunk.

Again, this site has nothing to do with Obama. It's based on figures from the independent, non-partisan Tax Policy Center.

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

I am not a tax expert. It could be something wrong in the formula for calculations for someone who does not pay tax. There might also be a rebate involved.

Just because it doesn't work for someone who doesn't pay taxes doesn't mean it's not correct for everyone else and it certainly doesn't mean it's bunk.
 

vindicator

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yeah if they drop 700bn on this crisis, the cuts will probably be delayed. at the same time, god forbid we pay for our spending.

I agree, but as of this moment there is no $700 billion bail out and this is the current platform for both candidates. It is comparing apples to apples as of this date.
 

Domisoldo

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I thought this was a pretty cool tool to see how much of a tax cut you would get based on Obama's versus Mccain's outlined platform. You can plug in how many parents and dependents and your income and it will tell you what you will get back. If i were a resident, I would get almost double back from Obama's tax cuts versus Mccain's.

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

Figures are based on calculations by the independent, non-partisan Tax Policy Center.

Are you sure the Honorable Bank of China (bless their heart and kiss their assets) will let us simultaneously:

- Slowly "draw down" troops from Iraq (vs. promised outright "withdrawal").
- Bail out the whole financial sector.
- Increase spending programs by hundreds of billion $.
- Give away tax credits for those who never paid federal taxes.
- Cut taxes for the majority of the US population.

?


 

Domisoldo

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who is giving tax credits to people who dont pay federal taxes?

Well, it is obviously not possible to cut taxes for people who don't pay (US) taxes because their income is too low.

One way to circumvent that obstacle was to propose an increase in the tax credits (EIC for instance).

Tax credits are really government spending, but from a marketing standpoint, the "tax cut" branding sells better.
 

mindseye

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These calculations are not accurate.
How can I get a tax cut of 896.24 from Obama if I don't pay any taxes?
I'm retired, and have only SSI as a taxable income. I pay no taxes on that. My other income comes from T-bills, which are not taxable.

This is more Obamabunk.

I'm skeptical. How did you come to this figure? If you have no taxable income, then your Adjusted Gross Income would be zero. Using the closest figure on the table for the Adjusted Gross Income -- with any combination of filing status or dependents -- doesn't give a figure of 896.24.
 

lucky8

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It says I would only save $18.86 with McCain and over $900 with Obama. Too bad these calculations don't take into account a number of other tax factors that are needed to accurately reflect how much you'd save...
 

D_Davy_Downspout

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These calculations are not accurate.
How can I get a tax cut of 896.24 from Obama if I don't pay any taxes?
I'm retired, and have only SSI as a taxable income. I pay no taxes on that. My other income comes from T-bills, which are not taxable.

This is more Obamabunk.

"I have a special snowflake tax situation and a web-based calculator doesn't cover it, this is clearly lies."

Data was provided by the non-partisan Tax Policy Center.
 

midlifebear

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I end up paying more taxes according to the number cruncher. But I'd be more than happy to pay more taxes in the USA. But only if we received national health care, improved/upgraded physical infrastructure (roads, bridges, national parks, etc.), an increase in salaries for teachers with a proven track record of successful teaching, and a state-wide transportation system (think rapid speed trains) that worked. There's other stuff, too. But the Republican fantasy of unregulated free markets has led to giving us the worst possible parts of socialism without any of the positive benefits. Land of the Free my ass! George W. Bush owes me 700 billion dollars!
 

Pecker

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Your Obama Tax Cut:
$896.21
This is $877.52 more than the $18.69 cut you will get from McCain.


Send me a check. I don't even PAY taxes on $15,000 agi.