Calculate Your Obama Tax Cut

I was wandering around the Tubes when I found this fun and interactive link to Calculate Your Obama Tax Cut. I saved $950 (plus change) based on my income and filing status (sort of).

I like how they break out the calculation of the tax cut:

How do we calculate your Obama Tax Cut?

Your Obama Tax Cut is calculated simply by summing the change in Individual Income Tax and Corporate Tax (yes, lots of people pay corporate tax) reported in the following tables compiled by the Tax Policy Center:

Single
Married
Elderly

If you want to explain the differences between the bottom-line effect of the Obama and McCain tax plans to your friends and family with simple numbers, these are the key points:

Obama will cut taxes for 95% of Americans

McCain will tax 80% of Americans more than Obama

Obama will only increase taxes for the top 1% of incomes; and this isn't really an increase: he's simply going to let the Bush tax cuts expire.

Here's a helpful chart to show your friends and family based on the same data I use

The Chart is from the Washington Post. They did a side by side comparison.