Monday, September 15, 2008

The Obama Tax Cut Calculator

The Obama tax cut might not seem too real to people. In fact Gallup_polls find that people think Obama will raise taxes. They are wrong and if you want to test it out for yourself there is a tax_cut_calculator online that estimates in a rough way how much more of your tax bill will be returned to you. They explain the source of their calculations:

All numbers are from the independent, non-partisan Tax_Policy_Center. Obviously, you'll note that filling out your taxes is a lot more complicated than just listing your income, filing status, and number of children -- these are estimates based upon the stated policies of the candidates and average deductions claimed by folks in similar economic conditions. Luckily, Obama promises to simplify_the_filing_process. The number reported above is the estimated difference between income taxes paid under current law and the taxes under the Obama plan.

hat tip to