Wednesday, July 30, 2008

WV Blue: The Tax Man

Repost: from West Virginia Blue by spruceshoe

Here's a tasty little chart from the Tax Policy Center posted as a "Web Extra" on WSAZ's site tonight.

According to The Tax Policy Center, here's how the average taxes would change in 2009 based on the two candidates' tax proposals.
    Average Income Over $2.9 million: McCain's Plan -$269,364 ; Obama's Plan +$701,885

    Average Income $603,000 and up: McCain's Plan -$45,361 ; Obama's Plan +$115,974

    Average Income $227,000-$603,000: McCain's Plan -$7,871 ; Obama's Plan +$12

    Average Income $161,000-$227,000: McCain's Plan -$4,380 ; Obama's Plan -$2,789

    Average Income $112,000-$161,000: McCain's Plan -$2,614 ; Obama's Plan -$2,204

    Average Income $66,000-$112,000: McCain's Plan -$1,009 ; Obama's Plan -$1,290

    Average Income $38,000-$66,000: McCain's Plan -$319 ; Obama's Plan -$1,042

    Average Income $19,000-$38,000: McCain's Plan -$113 ; Obama's Plan -$892

    Average Income Under $19,000: McCain's Plan -$19 ; Obama's Plan -$567

Here's what strikes me. The median household income in 2004 in West Virginia was $33,993.

Under John McCain's plan, that family gets two tanks of gas in a late-model sedan at today's gas prices.

Under Barack Obama's plan that same family would receive enough to pay for 17 tanks.

I wonder, is that  benefit only psychological to West Virginians?

If Vic Sprouse is able to bilk enough second-tier Republican candidates through November and avoid paying anymore child support, he'll make a chunk. Let's say for fun he makes $250,000. That seems to be a magic number in tax talk today.

Barack Obama wins, Vic pays Uncle Sam $12 more.

John McCain wins, Little Vikkey can fill up his SUV (twice the gas tank size of a sedan for argument's sake) 453 times.

2 comments:

  1. “I cannot in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us, at the expense of middle-class Americans who most need tax relief.” John McCain - 2001
    http://www.nytimes.com/2008/03/03/us/politics/03mccain.html

    I guess he's changed his tune since then.

    Justin

    ReplyDelete