Friday, August 29, 2008
Calculate your "Obama tax cut"
Here is a calculator that purports to estimate the tax cut you will get under Obama's plan. I am too fortunate (or productive, depending on your point of view) to get any "Obama tax cut." Not surprisingly, the "calculator" does not estimate my "Obama tax increase," which I expect will be very demotivating.
5 Comments:
By 
JPMcT, at
Fri Aug 29, 10:52:00 PM:
It doesn't say anything about the "Thank You" card that those of us who are in the upper 5% should get from everbody getting our money...oh...excuse me...I mean the Obama Tax Cut.
By Robert, at
Fri Aug 29, 11:02:00 PM:
No Obama tax cut for me either.
By 
, at
Sat Aug 30, 06:40:00 AM:
Well, I'm not over 500K, but range between 2 and 500K is rather large ...
First, it's unclear where it crosses over. Second, even taxing the top 2% at 100% won't raise enough money, so one can imagine that the 'cuts' wind up making it to only the lowliest. Add on Obama's 2400+ square foot home taxes, and all the other communist line items, and we can be Russia. That'll work great.
By , at
Sat Aug 30, 11:32:00 AM:
"Tax cuts for the rich! Tax cuts for the rich!"
If you use the calculator, a 2 earner family with one dependent would get a 1.8% break at $50,000, 2.3% break on $100,000 and 2.5% on $200,000.
The "rich" are still getting a bigger cut than the less "rich".
By Georg Felis, at
Sun Aug 31, 01:52:00 AM:
P.T. Barnum would approve. Anybody who thinks Obama would *cut* taxes for *anybody* deserves to be gently relieved of any sharp objects and placed in a quiet supportive environment. He's still going to have to go quite a distance to beat Clinton's Middle Class Tax Cut (which lasted to my recollection about 10 days after swearing in before he "caved" and signed into law the largest tax increase in US history)
