Calculate your Obama tax cut

Discussion in 'Politics, Religion, Social Issues' started by és:, Oct 14, 2008.

  1. és: macrumors 6502a

    és:

    #1
    Firstly, watch this video.

    Secondly, Visit this site to see how much of a tax break you'd get.

    Third and lastly, post how much you will save per year and, if you don't mind, if you're single or married and if you have a dependent. Also, how much you would save with McCain's plan (which is also included in the results)
     
  2. mobilehaathi macrumors G3

    mobilehaathi

    Joined:
    Aug 19, 2008
    Location:
    The Anthropocene
    #2
    I file single.

    I save

    under Obama: $500
    under McCain: $0
     
  3. scotthayes macrumors 68000

    scotthayes

    Joined:
    Jun 6, 2007
    Location:
    Birmingham, England
    #3
    Even though I live in England I thought it would be fun to see what I'd get.

    did a conversion of £ in to $ and got back...

    Obama Tax saving $1800
    McCain Tax saving $0


    WOW!!!
     
  4. yg17 macrumors G5

    yg17

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    Aug 1, 2004
    Location:
    St. Louis, MO
    #4
    Same here.
     
  5. nick9191 macrumors 68040

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    Britain
  6. Thomas Veil macrumors 68020

    Thomas Veil

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    OBJECTIVE reality
  7. Peace macrumors P6

    Peace

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  8. abijnk macrumors 68040

    abijnk

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    Location:
    Los Angeles, CA
    #8
    Ok... Support? Proof? Links to its inaccuracy?

    Seriously, it should be understood that if you are going to say something you need to back it up.
     
  9. miloblithe macrumors 68020

    miloblithe

    Joined:
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    Location:
    Washington, DC
    #9
    abiyng87, the proof is common sense. It's obviously very vague. There's a difference between making 75,000 and 100,000 in reality, but not in this calculator. I have child care expenses, but it doesn't ask how much they are. Obviously that would make a difference. It doesn't ask how much I'm putting away for retirement, and comes up with the obviously very round number of $1000 in savings for me vs. $60 with McCain.
     
  10. Peace macrumors P6

    Peace

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    #10
    In the calculation it doesn't show what McCains tax plans are.

    It doesn't even show Obama's.
     
  11. montanachad macrumors regular

    montanachad

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    Jul 7, 2008
    Location:
    Helena, Montana and Lacey, Washington
    #11
    Obama and tax-cuts are mutually exclusive terms. ;)
     
  12. abijnk macrumors 68040

    abijnk

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    Location:
    Los Angeles, CA
    #12
    miloblithe and Peace,

    I think you are taking it for WAY more than it is. Its a general estimate, not a penny for penny calculation. It isn't "rigged," it is showing what the differences look like at a bracket for bracket level.
     
  13. yg17 macrumors G5

    yg17

    Joined:
    Aug 1, 2004
    Location:
    St. Louis, MO
    #13
    This is just fine. It's meant to give you a rough estimate. No one wants to have to fill out a 1040 and calculate all their deductions to use this tool.
     
  14. bradl macrumors 68040

    bradl

    Joined:
    Jun 16, 2008
    #14
    Interesting..

    Obama: $1050
    McCain: $0

    Filing single, with a mortgage, and not including the home-based business I have.

    I wonder if McCain will throw up a page on his site trying to calculate the same thing under his plan. If not, Obama is really nailing him on the technology use level. I'm impressed.

    BL.
     
  15. CalBoy macrumors 604

    CalBoy

    Joined:
    May 21, 2007
    #15
    I find this calculator suspect (and not only because it is from Obama's own website).

    I tried several test incomes and conditions, the first of which was $30k with no dependents but some savings for retirement. Under those conditions, I would get $500 from Obama and $0 from McCain.

    Then I tried the same conditions with $100k-150k, and ended up getting $0 from both. Then I tried the bracket from $150k-200k, and from Obama ended up getting $34 back? :confused:

    I think that using common sense we know that most middle and lower income earners would see a boost, but the calculator's constant $0 result for McCain (even at incomes above $150k) is a bit hard to believe.
     
  16. Sky Blue Guest

    Sky Blue

    Joined:
    Jan 8, 2005
    #16
  17. rdowns macrumors Penryn

    rdowns

    Joined:
    Jul 11, 2003
    #17
    Recently unemployed.

    File single

    Obama-$34
    McCain-$ 0

    Edit: After reading CalBoy's post, I went back to play a little. This thing is crap and will probably bite him in the ass. Probably not?
     

    Attached Files:

  18. Dont Hurt Me macrumors 603

    Dont Hurt Me

    Joined:
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    Location:
    Yahooville S.C.
    #18
    The rigging is tax breaks for the rich and the Oil companys .. or tax breaks for working Americans.

    If you think the Oil companys need more vote Republican.
     
  19. iSaint macrumors 603

    iSaint

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    Location:
    South Mississippi y'all, near the water!
    #19
    In all probability. :rolleyes:


    for us:

    Obama: $1,000
    McCain: $ 645

    With two kids, I'm already getting a ton of breaks. Our income is going down this year. Either of these amounts in addition to our current break is a ton more. Our measly amount can't be helping much. I guess I should be thankful.
     
  20. és: thread starter macrumors 6502a

    és:

    #20
    If it's rigged, which I don't believe it is because it's on his official site, then he will deservedly get slammed for it.
     
  21. jplan2008 macrumors regular

    Joined:
    Feb 15, 2008
    #21
    The only McCain cut for the "middle class" (i.e, not very rich), as far as I know, is increasing the exemption for dependents. So you should only see a difference for those with dependents (I haven't tested it). Most of his cuts are for corporations, estates, and possibly further capital gains cut. The place where he'd argue is the health insurance credit, but I haven't seen any credible source saying it would do anything other than add up to 20 million people to the uninsured rolls.
     
  22. hulugu macrumors 68000

    hulugu

    Joined:
    Aug 13, 2003
    Location:
    the faraway towns
    #22
    Well, cool.

    I get $1,488.

    I'm also eligible for $4,000 tax credit to pay for college expenses, apparently.
     
  23. aethelbert macrumors 601

    Joined:
    Jun 1, 2007
    Location:
    Chicago, IL, USA
    #23
    I'll calculate it once I actually pay. As always, I'm hauling in some huge grains of salt from African mines to take with this election. I'm guessing that my tax cut will be somewhere in the negatives regardless of who wins. Either that or I will suddenly receive an even larger burden to hold when the government decides that maybe they should start paying back China, etal.
     
  24. firstapple macrumors 6502a

    firstapple

    Joined:
    Sep 25, 2007
    #24
    A lot of you are hilarious... You are going to go to an obvious biased website to see how much you would save in taxes compared to this guys competitor? Send me to an unbiased website, with complete facts of what each campaigns' tax plans are and then I will try it out. Until then, everyone please move along.

    And now I have to puke since you all just got me to go to Obama's website... ugh
     
  25. bobber205 macrumors 68020

    bobber205

    Joined:
    Nov 15, 2005
    Location:
    Oregon
    #25
    Just google obama's tax plan and mccain's. The majority of americans get 3x the cut. Which, when it's not 0 for mccain's, is what we're seeing.
     

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