Re: Barack McCain or John Obama?
(posted this on another thread. I thought it should be here too)
This is an excerpt from the
Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans (Full Report) From the Urban Institute — a nonpartisan economic and social policy research organization.
The two candidates' plans would have sharply different distributional effects. Senator McCain's tax cuts would primarily benefit those with very high incomes, almost all of whom would receive large tax cuts that would, on average, raise their after-tax incomes by more than twice the average for all households. Many fewer households at the bottom of the income distribution would get tax cuts and those whose taxes fall would, on average, see their after-tax income rise much less. In marked contrast, Senator Obama offers much larger tax breaks to low- and middle-income taxpayers and would increase taxes on high-income taxpayers. The largest tax cuts, as a share of income, would go to those at the bottom of the income distribution, while taxpayers with the highest income would see their taxes rise.
Clearly, Obama's economic plans are far more beneficial to the middle class and the poor, who make up the majority of this country, than are McCains. McCains economic policies obviously favor the wealthy and place a larger tax burden on the people who can least afford to bare that burdon.
The Analysis of the 2008 Presidential Candidates' Tax Plans, a combined effort of the Urban Institute and the Brookings Institution, is a completely independant and nonpartisan report that makes sense of the candidates stated economic plans. Here is the link to it:
http://www.urban.org/publications/411693.html
^This source is as "legit" as it gets.
If a person makes less than $250,000 a year then Obama is the best choice of the two economically speaking. If you make more than $250,000 a year then McCain is the best choice economically.
