Tax Policy Center's Obama taxcut calculator shows MANY under 250K will pay MORE.

Tax Policy Center ^ | Tax Policy Center

[sybilll]

I checked on my parents: elderly (+65), Married, AGI of $100K. Result - under Obama, $353 more, under McCain, $1152 less. Wow, just wow.

[Azzurri]

I wonder why nobody talks about the Bush tax cuts that are expiring in 2010? Obama and the Democrats will let them sunset and EVERBODY’s taxes go back to 2002 levels (i.e. UP). Not sure why the McCain campaign does not hammer this home.

[Sgt_Schultze]

It's much worse. Read this about the dems in Congress planning to disallow deductibility of 401K contributions AND adding an extra 5% (NEW) tax on every worker's pay from dollar #1. That's a helluva big tax increase for the 95% expecting a tax cut.

[ari-freedom]

but we all know that as soon as he takes office, Obama will sadly announce that as a result of unforeseen circumstances, all Americans must share in the sacrifice and give up their tax cut for the sake of the country.

[seowulf]

My parents get social security and a pension. They checked theirs too, and said that they would be paying more.

They can think of it as their opportunity to be more patriotic.

[sybilll]

Listen, I GET the troll insinuation. I thought it was funny that a pro-Obama forum boasted this formula, until I busted them on my parent’s scenario. I thought I would share my joy with you all. If you can’t accept fresh input from a like-minded Conservative, I find that close-minded, and may turn off other fresh ideas/perceptions that will help us ALL.

[BAW]

Ummm, a major falacy with this calculation is assuming that Senator Obama will do as he says. Not likely. And history suggests otherwise. The trust factor is very low for him. that makes this tax cut calculation a bunch of hogwash.

[Freedom'sWorthIt]

Totally correct.