$111,645 is the magic # for the Obama vs McCain tax debate.
If you make less than $111,645 a year, Obama will put more money in your pocket if elected. If you make more (besides being a lucky s.o.b! haha...), then McCain is your man on this one. At least, that's what Smart Money Mag is saying this month.What i like about this statement is that it is simple. It's saying "here's a # that you can base your presidential decision on" if you base your vote merely on the affects of your wallet. Sure it's all "in theory" (we don't know if either will, in fact, follow through with their ideas), but it does help get the core information out there - One nominee saves money for this group, and another potentially saves more for another group.
I'm all for this simplicity. Those of us with short memory spans, and/or political smarts, eat up these tidbits of information ;) To my credit, I actually did read the entire article on this, but i couldn't tell you for the life of me what the details were. My memory is horrible. I can, and will, however, remember that Obama will help those of us making under $100k. (yeah i know, i'm biased)
Here are some other interesting nuggets straight out of Smart Money (pg. 74):
MCCAIN on Taxes: Tax cuts in 2001 and 2003 lowered the top rates on income, dividends and capital gains; they're scheduled to expire in 2010. McCain originally opposed the cuts, but he now supports making them permanent.So am i going to vote for Barack on this alone? of course not. But it's no surprise to many of you that i will in fact vote for him, based on a number of variables. Unfortunately that'll have to wait for another time though, and another blog ;) I know what'll happen if we go down that route, and i'm sure as hell not ready for a cyber showdown here!
OBAMA on Taxes: Middle-income families would get breaks tied to home ownership, college tuition and savings; some retirees would be exempt from income taxes. People with income of $250,000 or more would see their rates increase.
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Check out my other post on political donations not being deductible.
Labels: barack obama, politics, taxes
posted by J. Money at
11:40 AM
6 Comments:
Simplicity? In this case I am for McCain :)I dont want to pay more taxes period.
Nice post, J! I've been trying really, really hard to keep politics off my blog - but was pleased to stumble upon this one :) Obama already had my vote - but this would have helped if i were undecided!
Further, what percentage of the population makes over $111,645? Not many. Yet I imagine the election will be close.
Is that per a person or per a couple?
haha, you do your thing Chicky.
& thx Savingcent!
And i think the $111k is per person from the way the article was written :)
i gave up on keeping politics off my blog. :) but to be honest, i'm more concerned about what i might end up paying under mccain's health care plan!
i will have to say that i'm skeptical, given the ongoing war and this bailout, that taxes won't go up. i still remember bush sr, and what happened to his "no taxes"!
As much as I would like to think that the new President will sort this mess out I'm doubtful -- don't think either one knows what they're doing in this regard.
Hate to sound negative maybe I'm just in a bad mood today.
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