Comparing Obama and McCain Tax Plans: A Different View

It seems that there has been quite a bit of publicity for the tax proposal comparison graph done by the Washington Post based on the analysis done by Tax Policy Center.

I thought it would be useful to see the data with a bit more context. It’s the same data, though the numbers might vary slightly because this graph is based on the September 12 update to the Tax Policy Center analysis, but presented as actual rates rather than changes in rates.

I didn’t include the income break-downs, but they are the same as for the other versions of this chart.

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  1. #1 by whall on September 17, 2008 - 10:08 am

    I find it interesting that they closed comments on the article after only 3 comments.

    It’d be nice if someone would really lay out ALL the facts, like the difference in letting the Tax Cuts expire, comparing “now” taxes to “proposed” taxes, not “after the expiration” taxes vs “proposed” taxes, plus the payroll and business taxes, plus social security and medicare bumps that Obama proposed (such as removing the upper limit of when you stop paying the tax), and capital gains tax increases, and death and inheritance tax increases, and any proposals that they have to reduce deductions, if any.

    whalls last blog post..Stuff you don’t want to MISC, #59

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  2. #2 by whall on September 17, 2008 - 10:08 am

    and I forgot to subscribe. What is Obama/McCain going to do about that?!?!?!

    whalls last blog post..Stuff you don’t want to MISC, #59

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  3. #3 by Ren on September 17, 2008 - 1:08 pm

    Actually, the Tax Policy Center analysis does have comparisons between each candidates proposals and letting the 2001 and 2003 tax cuts expire. They also have comparisons versus making those cuts (and AMT relief) permanent.

    This data already factors in payroll tax, social security tax, capital gains and inheritance tax changes.

    Here is another chart that shows the 2012 rates, with tax cuts expired and also extended.

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  4. #4 by Ken on September 17, 2008 - 3:21 pm

    Okay, maybe you have this data too – what’s the expense side of the story look like? Because that really seems to be more of the problem (at least from a “non-individual” perspective).

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  5. #5 by Ren on September 17, 2008 - 4:59 pm

    Sorry, no real spending data. They do have an analysis of the two candidates’ health plans, with estimated 10-year costs of $1.6 Trillion for Obama and $1.3 Trillion for McCain. Note that this cost is effectively a government handout (progressive in both plans, though substantially more so in Obama’s plan).

    I highly recommend reading the entire Tax Policy Center analysis.

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  6. #6 by whall on September 18, 2008 - 6:26 pm

    Oh, and did they leave out libertarian and green parties or was that just you?

    whalls last blog post..Love is in the air

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  7. #7 by Ren on September 18, 2008 - 7:20 pm

    They left them out — only McCain and Obama plans are included. Still, good reading.

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  1. Renagerie » Blog Archive » Our Stealth Tax

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