Calculate Your Tax Savings: Obama Plan for Middle-Class vs. Bush-Era Tax Cuts Extended for Wealthy
Chuck Sheketoff
Ever wonder how much you would benefit from the Obama tax cut extending middle-class tax cuts as compared to the proposal to extend the Bush-era tax cuts for the wealthy?
While The Rich Do Very Well When the Middle Class is Helped by Tax Cuts, virtually everyone benefits from Obama's middle class tax cuts.
Calculate the Income Tax Cut You Would Receive Under Different Tax Proposals, is a quick-to-fill-out form that does just what its title says, compliments of Citizens for Tax Justice.
Discuss.
Chuck Sheketoff is the executive director of the Oregon Center for Public Policy. You can sign up to receive email notification of OCPP materials at www.ocpp.org.
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5:57 p.m.
Sep 2, '10
Everybody should be required to compute their tax here. I had no idea that if you're under 200-250k./year that you'd do better under Obama than under Bush continuation. I thought it'd be the same.
Can I give this two or three "likes"?
9:22 p.m.
Sep 2, '10
That's because CTJ compared the Obama plan with the plan that refuses to extend the tax measures that were in the Recovery Act that help low- and middle-income families, such as the Making Work Pay credit. Those who voted against the Recovery Act are apparently unwilling to now extend the tax provisions when they give the wealthiest tax cut extenders.
9:27 p.m.
Sep 2, '10
See the endnotes on the CTJ page.