Comparison: McCain, Obama Tax Plans

--- If your income ranges from $111,646 to $160,972, John McCain would give you $2,614 in tax relief. Obama would offer $2,204. The pendulum for six-figure income starts to swing toward McCain, if you're thinking from a purely selfish standpoint.

--- If you income is between $160,973 and $226,981, McCain would lower your taxes by $4,380. Obama would keep his pledge to extend tax breaks to this group, but his break would be a lower $2,789.

--- Now you're getting rich, with your income between $226,982 and $603,402. McCain would give you a break of $7,871. Obama? Twelve dollars off of your taxes. That's $12.

--- Income between $603,403 and $2.87 million? Now you're in the top 2 percent of all Americans. John McCain really appreciates you, and he would give you a tax cut of $45,361. But Barack Obama, in the name of redistributing wealth, would actually RAISE your taxes by $115,974.

--- Income above $2.87 million? Now you're in the top one-tenth of a percent of the top 1 percent. John McCain would cut your taxes by $269,364. Barack "Robin Hood" Obama would RAISE your taxes by $701,885.

As readers go to the polls, hopefully these numbers provide some enlightenment.

The bottom line of the Tax Policy Center's analysis is that Barack Obama's tax plan is more in favor of poor people and the lower middle class. John McCain's tax plan is more in favor of the upper echelon.

Still, neither Barack Obama nor John McCain would make progress in eroding the $10 trillion federal debt that would be inherited by the children and grandchildren of future generations. In fact, debt to future generations would increase under either Obama or McCain.

SOURCES

Tax Policy Center

Brookings Institution

Urban Institute