Wonk Room » Obama’s Tax Plan, Not McCain’s, Helps Americans Who Actually Need It

Obama’s Tax Plan, Not McCain’s, Helps Americans Who Actually Need It

By Sarah Dale on Jun 12th, 2008 at 5:00 pm

Obama’s Tax Plan, Not McCain’s, Helps Americans Who Actually Need It»

The Wonk Room is always looking for new and interesting studies, and luckily a paper by the non-partisan Tax Policy Center fell into our laps. The report compares the tax plans of both 2008 presidential candidates and shows precisely who will benefit under the proposals put forth by Senators Obama and McCain. Here is a chart from the report:

And here is what it means:

OBAMA’S PLAN	MCCAIN’S PLAN
Increases (after-tax) income for poorest taxpayers 5.5%	No benefit for poorest taxpayers
Increases (after-tax) income for middle taxpayers	Modestly increases (after tax) income for middle taxpayers
Increases taxes for top richest 1% of taxpayers	Increases (after-tax) income for richest taxpayers 3.4%

Essentially, the Tax Policy Center shows what we already know–Obama’s tax plan provides the heaviest benefits to the poorest Americans — the ones who need the most help — while McCain’s heavily favors the richest. And while McCain’s plan provides only a nominal benefit to the middle class, Obama’s gives solid middle class relief.

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7 Responses to “Obama’s Tax Plan, Not McCain’s, Helps Americans Who Actually Need It”

libsaremorons Says:

Are you people that gullible? WHat do you think is going to happen when BHO’s tax ‘RELIEF’ gives even more of people’s hard earned money to the poor? They will squander it, as usual. They do not know how to deal with a handout. You have to train people how to earn their own living, not generationally enslave them to government handouts in a cynical vote grabbing scheme. Oh wait, that’s all the libs have isn’t it? NONE of their ideas have any merit other than to blatantly BUY votes from the most impoversihed among us. ANd as soon as they grow un-impoverished they hate the corrupt liberal mindset and embrace common sense conservative ideas.

Don’t be fooled folks, this is robbing the rich to feed the poor classic class warfare. Socialism at it’s finest. STEAL from those who have earned their money just like everyone else and GIVE it to people who haven’t. And why? Because why I ask you? Does everyone deserve the same standard of living? The laggard and the worker both deserve the same lifestyle? If your answer is yes then you are obviously one of the laggards and would have died in the first socialist colonies for want of hard workers.
June 12th, 2008 at 9:09 pm
DoItFluid Says:

Yes tax breaks for working Americans is stealing from people who didn’t earn it. We should give even more money to the richest fraction of the country, while we cut healthcare, schools, libraries, police and everything else that benefits the people who work hard every day. You think people who earn 40k a year are less deserving of relief than those who make 400k, or 4 million? Will the money given back to the richest of the rich stimulate the economy for everyone, or will trickle-down economics continue to fail as it has for the last 25 years. The “worker,” in your mind, makes 200k a year plus, and Americans are sick of being told that guy needs a break, while you elitist conservatives look down your noses at people who work hard every day.

Obama’s riding a wave that your “class warfare” distractions can’t stop, and the rich of this country, whose tax breaks have ridden our government into the ground, will be forced to step up to the plate, swallow a bitter pill, and contribute to making this country better. It’s time for everyone to pull their weight, so Americans can all have access to good schools and health care. And that’s not class warfare, thats common decency, in the richest, and greatest country in the world. I won’t shed a tear for all the millionaires whose taxes have gone up….
June 15th, 2008 at 5:10 pm
bergall Says:

Um…..before we start waving the flag for this stinking socialist slob, just exactly WHO are the ‘middle class’,
as defined by the socialists ? What is the STARTING income level of this middle class, and what is the TOP income level of this middle class ? If you DEFINE the middle class as all those making 35K to 75K, but TAX everyone making from 40K to 500K then this plan is BS.

Also, how is this stinking socialist pig going to give ‘relief’ when he is going to allow the Bush tax cuts to expire ? THERE IS NO REPLACEMENT LEGISLATION FOR THIS, SO IT MUST EXPIRE FIRST AND THEN CONGRESS CAN FIGHT FOR THE NEXT 4 YEARS FOR IT’S REPLACEMENT LEGISLATION, BUT UNTIL THEN, WE ALL PAY !!!

You appear to be a bunch’a schmucks who are looking for any excuse to ‘anoint’ Obamalamadingdong as the current savior.
I see him, as do MILLIONS of Americans, as the destroyer….
July 18th, 2008 at 9:10 am
dono Says:

damn, I would hate to be rich. Their lives will be destroyed by Obama. If I were rich I would quit my job and give away all my assets so I could have it as good as the poor.

Obama will probably destroy everything that as been done to build a rock-solid foundation for our economy too. Mark my words, if osama wins, you will see the basics of the economy crumble. Massive bank closures, massive business failures, weak dollar, and high unemployment…

you fools.
September 15th, 2008 at 10:46 am
dono Says:

Oh and to the leftist ‘cut-and-run’ crowd, what do you think will happen to the Iraq people? Obama will take your tax dollars away from them! And for what? He will lavish the lazy by taxing them less and not sending their money to the needy Iraq people whom desperately need it for teh freedom (except the money they have as one of the top oil producers in the world).

You socialists just want to give away money to your fellow liberals instead of freedom wanters.
September 15th, 2008 at 10:54 am
mjvpi Says:

My percapita share of the national debt has gone up $20,000 during the last 8 years to a total of $34,000. Productivity is up and real income is down.

TRICKLE DOWN DOESN’T!!!!

People who are WORKING are paying more in taxes than those who are living on investments. The Obama plan doesn’t offer handouts. It’s not Socialism. For the majority of Americans, they will keep more of the money that they earn by WORKING. That’s not Socialism, that’s Capitalism.

If you are enjoying the benefits of our great country, and I believe that the upper 1% of our population most certainly are, then you have a responsibility to that society proportional to your benefits.
September 15th, 2008 at 11:03 am
alcyone Says:

mjvpi Says:

“…you have a responsibility to that society proportional to your benefits.”

Is that quote from the bill of rights, or is that in the main body of the constitution?
October 15th, 2008 at 10:53 pm