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Old 10-27-2008, 02:17 PM   #1
RJF
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Could you use an extra $1,365?

Check the facts and you will realize that everyone will pay more in taxes if Obama is elected.

Obama has said that he will not extend the 2001 and 2003 tax cuts, so the law will expire and this is an automatic tax increase since tax rates will automatically revert to the 2000 tax rates.

To see how much more you would pay automatically when that law expires, take your income and check what you would have payed using the 2000 tax tables and then compare to the 2007 tax tables.

Year 2000 - http://www.irs.gov/pub/irs-prior/i1040tt--2000.pdf

Year 2007 - http://www.irs.gov/pub/irs-prior/i1040tt--2007.pdf

A person with an AGI of $50,000 pays about $1365 less under the current tax rates.

Use your own numbers and do the math.
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