Check Your Post Election Taxes

Here is a site that calculates your expected taxes under each candidates tax plan. Of course there are lots of caveats involved as these plans are somewhat nebulous in nature.

http://www.electiontaxes.com/

According to the site, I would do better under McCain's plan and "owe" about $2000 less over the 4 year period. Both candidates would lower my taxes. However under the current system, I get back everything that I put in, so I'm not sure how much better I could do. Can you do much better than zero income taxes owed each year? Of course I more than make up for that in the property taxes that I pay 🙁

My concern about this is that given the size of our current deficit, and the number of bailouts that we are likely to be paying for, it seems unlikely that any overall tax cuts will be put in place, no matter what each candidate may say.

Frankly, I'd be just fine if they leave the tax rates alone. I've saved quite a bit in the last 7 years, probably at least 2k less each year since Clinton was Captain of the ship.

As far as the financial bailout, I'm kinda up in the air about that. Recessions are part of a normal cycle. 700B is just plain nuts. I've read the dems want to get a part of that, and they even want to include car loans. To own shares and control salaries seems socialist to me.

A simple guarantee of the loans should be enough. Foreclose on the deadbeats and repossess the cars. Printing another trillion of fake money is just going to kill our dollar and send oil and food prices through the roof.


And yah Sarge, its the local taxes that kill me too. State and fed I can live with, its the property and school tax that really burns me up. They spend like 18k per kid here, and half of them cannot get past 50% on efficiency tests.

The bailout is a nightmare for both us as citizens and for the poor saps who are going to try and make whatever the Pres and Congress come up with work. I read an article this morning (here) that talks about how complicated this bailout will be. It's scary how much pressure is coming down to do "something" and do it quickly. This isn't something that should be discussed and put into place in a week though. It is incredibly complicated and will have far-reaching impacts.

The worst thing is that there is nobody out there (that I know of anyhow) who we could all look to for an honest analysis of this and get us all to agree regarding the response. The trust just isn't there anymore to get the sort of consensus that we need for an approach like this. It will be interesting to see what does happen and how the parties work or don't work together to solve it in the best interest of the country.

Oddly enough I do slightly better under Obama next 2 years, then better under McCain. However, that assumes Obama will support the Bush tax cuts that are about to expire. I have more faith that McCain will support them, then I have faith that Obama will renew them.

What's crazy is how much my taxes will increase in the next few years if they let the Bush Tax Cuts expire. It's actually scary.

I just wish that I got back what it says I should get for my refund... WAY OFF!

post election texas?
😄

same in the first year and cheaper with obama in the furthest out years

I pay less in and get more back from McCain and pay more in and get less back with Obama.