Based on the candidates' stated tax plans, if McCain is elected, he will cut taxes for the wealthiest top 1% of the country, and Obama will raise them. Let's look at how it breaks down on average in round numbers by family income.
Top 0.1%, earning above $2.87 million: McCain cut $270,000; Obama raise by $702,000
Top 1 Percent, earning $603,403-$2.87 million: McCain cut $45,000; Obama raise by $116,000
Incomes of $227,000 to $603,000: McCain cut $7,900; Obama cut $12.
Incomes of $160,000 to $227,000: McCain cut $4,400; Obama cut $2,800
Incomes of $66,000 to $160,000: Obama and McCain similar, recommending cuts ranging roughly between $1,000 - $2,500
Incomes of $37,000 to $66,000: McCain cut $319; Obama cut $1,042.
Incomes of $19,000 to $37,000: McCain cut $113; Obama cut $892.
Incomes less than $19,000, McCain cut $19; Obama cut $567
Where do you fit in here? What do you think of these plans?
Source: Obama and McCain Tax Proposals, WashingtonPost.com, http://www.washingtonpost.com/wp-dyn/content/story/2008/06/09/ST2008060900950.html
Citing: Tax Policy Center, http://www.taxpolicycenter.org/publications/url.cfm?ID=411750
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