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lovin2shop
07-31-2008, 01:14 PM
Have either of the candidates put out their specific tax plans? Like the exact brackets and rates, capital gain & dividend rates, etc.? Do they ever do this before the election? It drives me crazy to hear the sound bites and not be able to get the full info.
JElaineB
07-31-2008, 02:44 PM
http://www.barackobama.com/issues/fiscal/
http://www.barackobama.com/issues/economy/
http://www.barackobama.com/pdf/ObamaBlueprintForChange.pdf
lovin2shop
08-01-2008, 12:59 PM
Thanks. I had seen this on his website, but to me, it is just overly general. I'm CPA, so naturally, I'm interested in the details. Eliminating tax breaks for the wealthy, providing tax relief for families and small businesses, etc. can all have very wide meanings.
kellij
08-01-2008, 01:20 PM
I doubt that any candidate would have that type of specific information. I'm sure that the specifics would come after election when they can have the opportunity consult several experts, form committees etc. I would think that an individual, who is not a tax expert, would not have the ability to formulate the appropriate rates, brackets, etc.

Plus, don't forget, that that is all statutory. So a statute would have to be amended and then passed through Congress in order for it to take effect. So I wouldn't put much weight on any specifics right now anyway. I would think the odds would be so against it working out that well, that you'd just set yourself up for failure.

But I haven't researched that in the past, so maybe other Presidential nominees did state specifics?
cvanbrunt
08-01-2008, 01:29 PM
Thanks. I had seen this on his website, but to me, it is just overly general. I'm CPA, so naturally, I'm interested in the details. Eliminating tax breaks for the wealthy, providing tax relief for families and small businesses, etc. can all have very wide meanings.

I've heard some numbers tossed around on capital gains and this seems to be the same:

http://money.cnn.com/galleries/2008/news/0806/gallery.election_issues/5.html
kijip
08-01-2008, 01:33 PM
Tax Policy Center/Brookings Institute did a comparison of the impact of the various tax plans of the nominees. The full report can be found here.

http://www.taxpolicycenter.org/publications/url.cfm?ID=411693

To avoid the sound bytes and the like, I just avoid all TV news. :)
kellij
08-01-2008, 01:40 PM
That is a really interesting site. I really like the comparison. What a mess it all is!!