October 15th, 2008
05:45 PM ET
14 years ago

Obama debuts online tax calculator

(CNN) - With tonight's domestic policy debate looming, both Barack Obama and John McCain debuted economic plans this week that they say will put more money in taxpayers' pockets. And both are hoping that instead of crunching the numbers, voters will let the campaigns do it for them.

The Obama campaign unveiled an online "tax calculator" Tuesday designed to highlight the Illinois senator's proposed tax breaks for the middle class.

Fill in a few details, and the tool calculates your savings.

A married couple filing jointly with $60,000 in income and two dependents, for instance, would enjoy $1000 in tax savings under Obama's plan, according to the calculator, versus $645 under McCain's. Take away those dependents, and the McCain number is reduced to zero.

"We expect that for the third debate in a row, John McCain will lie about Obama's tax plan," said Obama campaign spokesperson Nick Shapiro. With the tax calculator, he said, "the vast majority of voters will discover that they¹ll pay less in taxes with Obama as president."

The calculations get a little fuzzy for the highest wage earners: plug in an income of over $250,000, and the message pops up: "You will probably not get a tax cut under the Obama-Biden plan" something the Conservative group Americans for Tax Reform called "misleading" because it fails to mention any of Obama's plans for tax increases on high-income voters.

But two can play the numbers game: The Republican National Committee battled back with a "spend-o-meter" measuring how much they think Obama¹s new policy proposals will cost taxpayers.

Related: CNNMoney on McCain, Obama crisis plans

Filed under: Candidate Barack Obama • Economy • John McCain
soundoff (10 Responses)
  1. saint paul mn

    this is our leader, someonewho can take us into the future,

    Obama Biden '8

    October 15, 2008 08:55 pm at 8:55 pm |
  2. Winnie Hussein.... in Montana

    That's a pretty cool idea, think I'll go over there and try it. Of course, McCain can't put up something helpful, he can only attack!

    October 15, 2008 08:56 pm at 8:56 pm |
  3. allene L of Atlanta

    If anyone doubts what Barack Obama can do, just look at all of the technical gadgets he and his team have created. Imagine using the intranet to handshake phoning potential supporters. Using the technology to collect donations ranging from 5.00 to the Maximum allowed by law. Barack is smart and he has the people working in his campaigne who have the no how to get things done.
    Haters Don't hate, just admit and appreciate.

    October 15, 2008 08:57 pm at 8:57 pm |
  4. Barbara - 65 yr old white female in NC

    Sure will save me money. I'd rather get the money than have the fat-cats get more tax breaks.

    October 15, 2008 08:59 pm at 8:59 pm |
  5. angie in dallas 28


    one sees the past and thinks, hmmm that was a good time.
    one sees the future and sees where it is going and how much further america can go

    October 15, 2008 08:59 pm at 8:59 pm |
  6. Concerned Citizen, IN

    Obama = 1600 for me, McCain = 100 for me. Choice is clear.

    October 15, 2008 09:03 pm at 9:03 pm |
  7. Stacy from Loudoun County VA

    Wow, looks like I save more money...

    October 15, 2008 09:11 pm at 9:11 pm |
  8. Independent FL voter

    Love it!!!!!!

    October 15, 2008 09:40 pm at 9:40 pm |
  9. loly

    i guess it is time for MCCain to retired so he can enjoy living in those seven houses he got. i was his supporter, but from today's debate no anymore.

    October 15, 2008 10:19 pm at 10:19 pm |
  10. loly

    would you trust a man with havard degree or a p.o.w military officer to shake the economie?
    i go with the havard degree

    my wife and i will have a total of 50k ion student once we exit from college. we need truly releive on that ....and we both know who has it on his agenda:)

    October 15, 2008 10:37 pm at 10:37 pm |