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/

________________________

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

[williesgirl]

1. This asshole will never come close to $250K/yr. rec'd

[Kurt_and_Hunter]

3. Even if he does it's an extra 2% only on the amount OVER 250

If he makes $260,000 in 2010 his taxes would only be $200 higher; much less than he will save in 2009!

[Kurt_and_Hunter]

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[Kurt_and_Hunter]

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[Kurt_and_Hunter]

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[Kurt_and_Hunter]

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[Kurt_and_Hunter]

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[Kurt_and_Hunter]

5. Shameslessly self-kicking because this is the only Joe-fact that really matters

[mzmolly]

6. Not to mention "someday" "Joe" may get a tax credit of $3K for every plumber

he hires to work for him.

Nice work Kurt! :toast:

[renate]

8. You'd kind of think the McCain campaign would have done the math

... before making Joe P. their poster boy.

Here's hoping that someone in the MSM has the investigative talents that you do, because it is truly funny that McCain made such a big deal out of this guy who would actually benefit more under Obama.

[Kurt_and_Hunter]

9. They're not really "do the math" types. (Exhibit A: vetting Palin)