What Obama means by tax the wealthy
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What Obama means by tax the wealthy
| Sat, 06-28-2008 - 11:14am |
What Obama means by tax the wealthy
Here's a closer look at how the Democratic candidate defines well-off for different households, and what his proposals will mean for them.
Here's a closer look at how the Democratic candidate defines well-off for different households, and what his proposals will mean for them.
http://money.cnn.com/2008/06/27/news/economy/obama_wealthy_taxes/index.htm?postversion=2008062809


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According to that chart, people making $227K would be paying about $5k more in taxes under Obama's plan.
Susan
MCCAIN
OBAMA
Income
Avg. tax bill
Avg. tax bill
Over $2.9M
-$269,364
+$701,885
$603K and up
-$45,361
+$115,974
$227K-$603K
-$7,871
+$12
$161K-$227K
-$4,380
-$2,789
$112K-$161K
-$2,614
-$2,204
$66K-$112K
-$1,009
-$1,290
$38K-$66K
-$319
-$1,042
$19K-$38K
-$113
-$892
Under $19K
-$19
-$567
Corrected because I misread the chart.
I happen to be looking at a tax return with a taxable income of about 2.2 million and taxes paid/owed of approximately $751,000.
It isn't as straightforward as a chart for the people not considered rich/poor.
Sorry, I read that wrong.
Susan
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