Tuesday, June 17, 2008

Voting for Obama won't cost me a million dollars

According to the AlterNet article A Comparative Tax Story: Obama, McCain, and Ike:
If Senator McCain's proposals and preferences on tax policy should become law, the Center calculates, the nation's most affluent 0.1 percent -- taxpayers who this year will make at least $2.9 million in income -- will pay $269,364 less in federal taxes than they would pay if current tax law stays in place.

If Senator Obama gets his way on taxes, these same households would pay $701,885 more, on average, in 2009 than they would pay under current law. The gap -- for the super-rich -- between Obama and McCain: nearly $1 million.
An even more amazing difference is that waaay back in the 1950's, tax rates on the super-rich were more than twice the current level.

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