Tax Plans (OR The Devil in the Details)

September 20, 2008

Via Ezra comes this nifty little page that will estimate tax changes based on income tiers. I’d seen this before, but didn’t look that closely. At first glance, it’s about what you’d expect at each tier. When you compare tiers, though, the inequity is painfully clear.

For a single filer, no dependants, Sen. McCain won’t offer a tax break larger than $100 until you make $100,000, where Sen. Obama will offer 7 to 8 times that for people making 10 time less.

For those people making $10,000 to $15,000, Sen. McCain offers less than $20 off their current taxes. Twenty dollars! That’s one dinner at Applebee’s a year. Sen. Obama’s $700-$800 could pay for a couple months of rent.

On the other hand, Sen. McCain’s plan seems to encourage lots of kids for middle income families:

Married, two earners, no dependents, $50,000: -$40
Married, two earners, 2 dependents, $50,000: -$760

I could go on, but you get the picture. If you have some time, play around a bit…