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Here's a fascinating graph that compares what would happen to incomes under Obama and McCain's tax plans:
Allow me to decipher. The purple lines represent what will happen to income under Obama's plan; the maroon/red lines represent McCain. Each pair of lines represents a segment of the American population. As the lines go up from the middle of the graph, after-tax income for that segment increases; as they go down, after-tax income decreases. Here's what it all means in numbers:
| Your Income | Income Change Under Obama | Income Change Under McCain |
| $0-$18,981 | +5.5% | +0.2% |
| $18,981-$37,595 | +3.6% | +0.5% |
| $37,595-$66,354 | +2.4% | +0.8% |
| $66,354-$111,645 | +1.8% | +1.4% |
| $111,645- oodles | -1.5% | +3.2% |
So, as long as you make less than $111,645, your income will increase more under Obama than under McCain. But, hey, if you are among the richest 0.1% of Americans--making more than $2.87 million a year--Obama's tax plan will decrease your income by almost 9%, while your income will go up by almost 5% under McCain. Hooray for being rich and Republican!
The short of it: Obama's plan increases income for the middle and lower classes more than McCain's plan, which saves its biggest presents for the super-wealthy. So, as you decide which candidate to vote for, consider what you think is ethically correct: voting for the rich to get richer (McCain) or to help out the little and middle folks (Obama).
Want to read a really


2 comments:
Great bar graph. Where did you find it? (I looked at the tax policy link you provided; didn't see it there).
DV: Thanks for dropping by. I originally saw that bar graph on Ezra Klein's blog, but it's also on page 38 of the Tax Policy Center paper: http://www.taxpolicycenter.org/UploadedPDF/411749_update_candidates.pdf. Have fun!
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