McCain Plan Offers Lower Effective Tax Rates

Posted: October 31, 2008 in Barack Obama, John McCain, Taxes

Heritage

The Center for Data Analysis Individual Income Tax Model was used to compare the average income tax rate faced by different kinds of families, under the Obama and McCain tax proposals. These are the effective rates, in other words, the actual percentage of income paid out after considering all exemptions, deductions and credits.
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Even seniors on the average do worse (although seniors with less than $50,000 are exempt from taxes under) Obama’s plan. This is because seniors with more money face much higher taxes, and most seniors with less than $50,000 wouldn’t pay taxes under McCain’s proposal either.

But I thought that Obama was supposed to be better?

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