Tax plan comparisons

Here's a comparison of Obama and McCain's tax plans from the independent Tax Policy Center. This chart shows the net effect on income (i.e. a higher bar means higher income) of each of their plans for various income categories.

Obama's plan would result in higher after tax income for everyone but the top 1% of tax payers, and his plan would result in higher after tax incomes than McCain's plan for everyone but the top 20% of tax payers.

(Obama's plan is in blue; McCain's in red.)

So estimate which income bracket you fall into and ask yourself, who's going to do more for you... and if you're lucky enough to be in that top 20% bracket, look at the pattern of red bars that represent McCain's plan. Do you really think it's fair that the top 1% of tax payers benefit so disproportionately?

More from Ezra Klein. And interestingly, even McCain's top economic adviser now agrees that Obama's tax plan would result in a net tax reduction over the next ten years.

Here's Obama talking today in Dover, New Hampshire, about taxes, including the fact that McCain's plan has a provision to tax employer healthcare benefits.

(Video link)