Quote:
Originally Posted by PornMogul
Lets see, what costs me more? Mccains 15-20% tax or obamas 30% tax? The national debt doesnt mean shit to me. How much comes out of my pocket matters to me.  |
You may want to read up more on this.
First, they have to get these changes passed through Congress, and most will not pass.
They both are talking about reducing taxes in some areas and increasing in others. The total net gain of tax is not 15-30% for either of them.
McCain, is talking about shifting taxes, so far what he has stated could not possibly pay off the national dept, it would actually increase. So you will pay less in some areas and more in others, paying the same rate you pay today.
Under Obama, 5% of the Americans would be effected and 95% would have a reduction. Now he is also talking about other gov funded programs, which have to be paid for. This is what the lower income people will take up since they take a cut on ss tax. If his plan went through as is, the national dept would be paid off and the average American would pay less tax.
In short, Obama's plan will make the country money and McCains will cost it net revenue. If the tax plans went through as is.
The positive of McCains plan is to lower the corporate tax rate by 10%, that would bring in billions of dollars and create jobs. But his other tax shifts pretty much kill this benefit for the average worker.
So really, with both - we are all screwed. Rich or poor.