Taxes and the Candidates

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Both McCain and Obama are starting to put numbers to thier tax plans. Here is an assessment of how each candidate's plan would impact an individual taxpayer. Now, neither plans are written in stone, so each should be taken as a work in progress.

http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc/index.htm?postversion=2008061115

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Here's a summary:

According to the Tax Policy Center's findings, the common assumptions most people make about the plans of McCain, the presumptive Republican nominee, and Obama, the Democrats' pick, are not wildly off-base.

McCain: The average taxpayer in every income group would see a lower tax bill, but high-income taxpayers would benefit more than everyone else.

Obama: High-income taxpayers would pay more in taxes, while everyone else's tax bill would be reduced. Those who benefit the most - in terms of reducing their taxes as a percentage of after-tax income - are in the lowest income groups.

[SparkleHugs]

While I don't know too much about economisc (Hey, i sound like John McCain), Why is it we cannot just do a flat tax for everyone? that way the rich people aren't getting screwed and neither are the poor. While I agree the rich people have more money to spare, i know if i were raking in the dough each week, i'd not be too happy about half of it being taken from me for tax purposes. I look at both of those summaries and think damn, either way you go someone is getting screwed. While I believe Obama's plan is by far the lesser evil i think of the people who have worked hard to get where they are and work hard daily for their income to only have it taken from them. Is there a way around it? Would it be fair to tax everyone the same percentage?