Barack Obama says 95% of Americans will get a tax cut if he’s elected. McCain says … well, whatever he’s saying that day or week. But what does it all mean for you? Under a McCain or Obama regime, how much of your hard-earned booty will the IRS demand for such indispensable national priorities as, say, endless wars of choice and making sure Wall Street billionaires don’t have to sell their second ski lodges? Now you can find out at this handy new website.
I entered a few different incomes into the calculator, starting low and adding a couple-ten thousand each time. And, if this magical contraption of the netwebs and intertubes is to be believed, it does appear that Obama’s tax plan will save people making under $125,000 a few hundred bucks a year. Note: I did not enter deductions, investments, assets, etc. – just straight income.