The Effects of the Candidates' Tax Plans on Households at Different Income Levels: Examples


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New Report from Citizens for Tax Justice

A new report from Citizens for Tax Justice examines hypothetical households that are representative of different income groups to determine how they would fare under the tax plans proposed by the presidential candidates The report calculates the income tax liability of each hypothetical household under the tax plans and explains how and why the plans would affect them differently.

We find that our hypothetical households in the low- and middle-income groups would receive a larger tax cut under Obama's plan than under McCain's plan. Our hypothetical households in the top one percent would have a tax increase that would be fairly small (as a percentage of their income) under Obama's tax plan, but they would receive breathtaking tax cuts exceeding $270,000 under McCain's plan.

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