Organizing for America | Moonwhile: TAX FACTS FOR CONTACT WORK

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TAX FACTS FOR CONTACT WORK

By Moonwhile - Sep 13th, 2008 at 12:13 pm EDT

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Today in America the wealthiest 1% owns more than everyone in the bottom 95% combined. Income inequality is at its greatest level since the 1920s - right before the great depression. Though the US has continued to make big gains in productivity over the last decade, nearly all of the benefit of those gains has gone to the wealthy, not the workers. American CEOs earned 411 times as much as average workers in 2005, up from 107 times in 1990. In the economic expansion of 2002-2006, the top 1% captured nearly three quarters of income growth. http://elsa.berkeley.edu/~saez/saez-USto pincomes-2006prel.pdfThese are the proposed tax plans for the two candidates. McCain intends to further reduce the tax burden of the wealthiest Americans at the expense of the middle and lower income families. Obama’s plan increases taxes on the wealthy, especially that top 1%, to the benefit of working americans - a first step in reversing the rich-get-richer trend and toward re-building a real middle class. In fact, Obama has offered to actually raise his own taxes for the benefit of the country as a whole. Where are you in this table? ……………… MCCAIN …………. OBAMA
Income ……. Avg tax bill ……. Avg. tax bill
Over $2.9M …. -$269,364 (-4.4%)… +$701,885 (+11.5%)
$603K and up…. -$45,361 (-3.4%)… +$115,974 (+8.7%)
$227K-$603K…… -$7,871 (-3.1%)…….. +$12 (+0.0%)
$161K-$227K…… -$4,380 (-3.0%)….. -$2,789 (-1.9%)
$112K-$161K…… -$2,614 (-2.5%)….. -$2,204 (-2.1%)
$66K-$112K …… -$1,009 (-1.4%)….. -$1,290 (-1.8%)
$38K-$66K …….. -$319 (-0.7%)….. -$1,042 (-2.4%)
$19K-$38K …….. -$113 (-0.5%)……. -$892 (-3.6%)
Under $19K ……… -$19 (-0.2%)……. -$567 (-5.5%)http://money.cnn.com/2008/06/11/news/eco nomy/candidates_taxproposals_tpc/?postve rsion=2008061113Drawn from Reuters. National Voter Registration Week is September 15-19 Is the registration of every person in your household up to date? Check it. GOP is extremelyt skilled at voter suppression techniques and challenges to voters. How about your friends? Co workers and neighbors? If every Obama supporter were to be responsible for one new voter for Obama who actually voted, he would win by a mile.

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