Obama vs. McCain on Tax Cuts

Handy little calculator for figuring out what your tax cut would be under an Obama administration. Clearly designed to remind people that, unless you make over $500k/yr, Obama’s plan means less taxes for you.

Of course, I don’t really go for the whole tax cutting argument. Taxes are used to buy government services, and so long those services are relatively efficient and worthwhile (and are things that can be only done by government, not the market), I’m fine with paying them.

Somewhat relatedly, I’ve noticed John McCain has shifted his rhetoric a bit in response to the realization that Obama is acutally proposing bigger tax cuts than he for 95% of the electorate:

I will keep taxes low and cut them where I can. My opponent will raise them. I will open new markets to our goods and services. My opponent will close them. I will cut government spending. He will increase it.

My tax cuts will create jobs. His tax increases will eliminate them. My health care plan will make it easier for more Americans to find and keep good health care insurance. His plan will force small businesses to cut jobs, reduce wages, and force families into a government run health care system where a bureaucrat stands between you and your doctor.

The first point actually allows him to weasel out of any tax cuts at all. The second point is even more interesting. It’s a basic supply-side point about creating jobs cutting taxes for the rich, but it doesn’t come out and say it. The way he says it, it sounds like he’s saying that his tax cuts for all Americans will create jobs. But he can’t say that, because Obama’s cutting taxes more for 95% of Americans. The more accurate way to say this would be, “My tax cuts for the rich will create jobs. His tax increases on the rich will eliminate them.” Obviously he would never put it that way, but that’s what he’s implying.