The candidates and taxes

People vote according to different priorities. It helps to have some facts to see what you should decide. How about an independent analysis of the candidate’s plans for changing taxation?

Compiled by the Tax Policy Center, this report is long and dry, but it’s worth reading if you pride yourself on making an informed candidate choice. It was last updated on the 23rd.

Within the report you can see who gives you what for your income bracket. Then you can read proposed effects on the economy. Here are a couple of quotes on the deficit:

Senator Obama’s plan would substantially increase the deficit compared with current law and would add $3.4 trillion to the national debt over ten years.

Senator McCain has proposed substantial tax cuts, offset only very partially by proposals to broaden the tax base. Some of these tax cuts would have positive economic benefits, but adverse effects of the resulting increased deficits may make the net effect of the plan economically harmful.

The report also reiterates McCain’s plan for a balanced budget by 2013.

Do your homework! Tomorrow – voting records.