Obama vs Romney Tax Rates

The diference in taxes paid when this all comes down is huge to anyone getting a bonus check. Do the math! At the top rate  39.6 vs 28 that's a difference of 11.6 %. On $300,000 that is a whopping $34,800 more with Obama!

 

Ordinary  individual income tax rates

Current tax rates:

  • 33 percent
  • 35 percent
  • 25 percent
  • 28 percent
  • 10 percent
  • 15 percent
Barack Obama's tax proposals Mitt Romney's tax proposals
Six tax rates with top rate applied to  adjusted gross income of $200,000 for individuals, $250,000 for families:
  • 10 percent
  • 15 percent
  • 25 percent
  • 28 percent
  • 36 percent
  • 39.6 percent
 A 20 percent reduction of the current six tax  rates. Romney is also considering itemized deductions to a certain dollar  amount:
  • 8 percent
  • 12 percent
  • 20 percent
  • 22.4 percent
  • 26.4 percent
  • 28 percent

Read more: Tax Proposals: Obama Vs. Romney | Bankrate.com http://www.bankrate.com/finance/taxes/tax-proposals-obama-vs-romney...

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Permalink Reply by Samuel J. Orr on October 22, 2012 at 2:45pm

Great Post; People criticize Romney but by eliminating a lot of itemized deductions for high wage earners, they will pay more. Addditionally, he will also address the issue of entitlements. They clearly are unsustaniable as presently constituted. Obama is like a drunken spendthrift who has maxed out his credit cards, but finds a temporary fix by getting even more credit cards. He has done everything he can to make nation's finances look better than they are. But the citizens have all come to love their entitlements especially when they do not have to pay the taxes to fund the benefits. Bush was wrong wn he got Congress to pass Medicare part D without simultaneously passing necessary taxes to fund the program. Now the Democrats want to compound the problem by "closing the donut hole" without the necessary additional taxes to pay for the program. Barack Obama, the very definition of 4 years of fiscal insanity with trillion dollar deficits every year. But  we all know that all the nation's problems are George Bush's fault! (Sarcasm intended for those of you who did not get it1) 

Permalink Reply by jason smith on October 22, 2012 at 6:17pm
Thanks for informing landowners on the unfair tax burdens landowners will pay if Obama wins a second term.
Permalink Reply by Frank W. McCafferty on October 23, 2012 at 1:49am

I don't know why this fact based post  was moved to the  opinion based section but please move it back. It is directly related to landowners and is fact! Do you know fact from opinion?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

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