Obama-Biden Tax Calculator website results for Joe the Plumber (Saves $600-$1100)

[Kurt_and_Hunter]

Obama tax savings:

$1243 (mortgage balance $122K)
$987 (mortgage balance $80K)
$743 (mortgage balance $40K)

Plus, under Obama, you may be eligible for
50% tax credit for up to $1000 for retirement savings

McCain tax savings:

$150

http://taxcut.barackobama.com /

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Assumptions:

Joe made $40,000 in 2006, so putting him in the 50-75K range is generous. The tax assessment on his house is $122K so I ran his calculation with mortgage balances of 40K, 80K and 122K. He is a single father of one dependent. I assumed some child-care expenses, since he works such long hours.

What's your annual income?* $50,000 - $75,000
Your Filing Status* Single
How many dependents do you have? 1
Check if you have child care expenses YES
Check if you are saving for retirement YES
What is the outstanding balance of your mortgage? $40,000, $80,000 or $122,000

[Kurt_and_Hunter]

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[Kurt_and_Hunter]

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[musicblind]

3. Aw. My family wont get a tax cut under the Obama plan. :( My Dad makes 250,000 a year.

But it is STILL the best tax plan because it gives cuts where they are needed the MOST.