First off, a caveat: Basing a vote on potential personal financial changes is as one-sided as basing a vote on gender, skin pigment, or hair color. It’s one factor and one that I hope to argue it is a wash to vast majority of Americans. For both plans call for significant cuts for the vast majority of Americans – households making less than $603k/yr (99% of Americans). For those remaining 1%, taxes will either go up or down. I’m part of the 99%, and I suspect you are as well1.
|Income (% of Taxpayers)||Plan Difference in $||Plan Difference
as % of Income
|< $603k (10)||7,869||1.3||McCain|
|< $227k (10)||1,591||0.7||McCain|
|< $161k (10)||410||0.25||McCain|
|< $111k (10)||281||0.25||Obama|
|< $ 66k (20)||723||1.1||Obama|
|< $ 38k (20)||779||2.0||Obama|
|< $ 19k (20)||548||2.9||Obama|
While much attention has been made to how different these plans are at the poles, it surprises me how close the two plans are for the middle 60% of tax payers (<2% delta).
I’m assuming both plans are drafts and would have to pass Congress to be enacted 2. If so, then I assume getting them passed through Congress would change the plans – perhaps even making them more similar.
Does this betray how similar their policies are/will be for the majority of Americans?
1. If you’re not, can I has monie? kthxbye.
2. Confirming we shouldn’t be investing too much in the candidates plans: