If the Bush tax cuts were repealed how much would you personally pay more in taxes?

Question

In hard numbers- how much does it add up for you personally?

For myself $35 this year- last year $300, If the economy was better I my business would be doing better much better than the one or two days of work Bush gave me!!!

Obama wants to repeal the Clinton capitol gains tax back to 15% from 10%. But I am not a house flipper or a trader. I only occasionally sell stock that I have owned less than a year (not that I'm going to be taking a profit on many of my holdings right now). +$50/ yr with Obama for $1000 worth of profit on my short term sales...

Answer 1

Of my $65,000/year salary, $20,000 goes straight to taxes, never to be seen again.

If I were to lose a dime more it would be $20,000.10 to much.

Answer 2

Under $500 for both years, which is less then McCain's plan to make my employer's contribution to my health insurance taxable will cost me.

Answer 3

Over $3,000 and no I am not rich, my wife and I both work and make over $50,000 and under $100,000 combined. It makes a big difference to our household.

Answer 4

Here's the bottom line:

If you make less that $226K a year, Obama's tax plan means you'll pay less.

If you make more, McCain's tax plan gives you more back.

Details: If enacted, the Obama and McCain tax plans would have radically different effects on the distribution of tax burdens in the United States. The Obama tax plan would make the tax system significantly more progressive by providing large tax breaks to those at the bottom of the income scale and raising taxes significantly on upper-income earners. The McCain tax plan would make the tax system more regressive by providing relatively little tax relief to those at the bottom of the income scale while providing huge tax cuts to households at the very top of the income distribution. McCain would cut taxes a bit for the working-class and a lot for the rich. Obama would provide modest tax cuts to low- and moderate-income people while imposing stiff tax hikes on the very wealthy.