Saturday, June 14, 2008

Today's electoral silliness edition

Thanks to Okiedoke, we have a comparison between Obama and McCain's income tax plans:
It should be remembered that what presidential candidates want isn’t what they always get. Thank goodness. But what they want does send a signal about who they are.

Here’s how the average tax bill could change in 2009 if either John McCain’s or Barack Obama’s tax proposals were fully in place.

MCCAIN OBAMA
Income Avg. tax bill Avg. tax bill
$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
Source:The Tax Policy Center
And the kicker:

Under both plans, all American taxpayers could pay a price for their tax cuts: a bigger deficit. The Tax Policy Center estimates that over 10 years, McCain’s tax proposals could increase the national debt by as much as $4.5 trillion with interest, while Obama’s could add as much as $3.3 trillion.
Which in today’s politics, makes Obama a fiscal conservative.
Of course, let's also keep in mind all the deficit spending that will be associated to the multi-front War on Terra, War on Drugs, outsourcing basic government services to private contractors, etc. If you're an actual fiscal conservative, the numbers will make you just about choke. If you're simply a deficit hawk (that's me) who otherwise is as left as they come, the numbers still just about make you want to choke.

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