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Personal Taxes
Personal Taxes
Lower-income earners benefit more than wealthy taxpayers under Obama's proposals.

· Leave all tax cuts in place for everyone except couples making more than $250,000 and single filers making more than $200,000. Those high-income groups would see their top two income tax rates revert to 36% and 39.6% from 33% and 35% respectively.

· Provide $1,000 tax cut for working couples making less than $250,000.

· Introduce other tax breaks for lower and middle-income households.

"We shouldn't be distorting our tax code to benefit a few powerful interests -- we should be insisting that everyone pays their fair share, and when I'm president, they will." -- Obama*


NEXT: Taxing Business
Last updated November 06 2008: 11:36 AM ET
Source:
*Sept.18, 2007, Speech, Washington, D.C.
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