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Barrack Obama |
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John McCain |
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| Alternative Minimum Tax | Tax primarily on upper-middle and above income level | | | | Eliminate |
| Capital Gains | Current rate scheduled to rise in 2011 | | Increase to 20% | | Temporarily Lower 15% rate to 7.5% |
| Economic Bailout | What is candidates position on 700B economic bailout plan | | Limit CEO pay, Independent Oversite, Taxpayer Protection | | Independent oversight, way to get money back, transparency, limit salaries |
| Economic CrisisTax Changes | Special provisions during economic crisis | | Some Early IRA/401k withdrawals without penalty | | Lower IRA/401k withdrawal tax rate, Cut Capital Gains |
| Estate Tax | How would candidate change current tax law | | | | favors radically decreasing |
| Gasoline Tax | Federal 18 cents/gallon gas tax | | Opposes temporary reduction in Federal Gas Tax | | Favors temporary suspension of Federal Gas Tax |
| Health Insurance: Can't Get | Many people cannot get private Health Insurance because of previous illness | | Proposes plan which will cover all, including those with pre-existing condition | | Federal and state plan to pool high risk uninsured |
| Health Insurance: Uninsured | Some people can't afford and some don't want health insurance | | Proposes plan which will help those who cannot afford, unclear about those who do not want | | Favors making insurance available and affordable for all, however few details |
| Home Mortgage Interest Deducti | Ability to deduct home mortgage interest from taxable income | | Allow Deduction for non-itemizers | | |
| Income Tax for Elderly | Does candidate propose any tax changes specifically for elderly | | Would eliminate income tax for elderly making under $50000 | | |
| Income Tax High Income | Generally family income above $250,000 | | favors repealing Bush tax cuts for very wealthy | | would make Bush tax cuts permanent |
| Income Tax middle income | Generally family income up to $250,000 | | Keep Bush Tax Cuts | | would make Bush tax cuts permanent |
| Personal Exemption Amount | Personal Exemption is now $3500, would they change it | | | | Raise from $3500 to $7000 for dependents |
| Retirement Health Costs | Under Medicare average couple needs $400,000 to cover out-of-pocket medical expenses | | | | |
| Small Business Capital Gains | Capital Gains Tax on Small Businesses | | Eliminate | | |
| Social Security Payroll Tax | Should upper limit on Social Security Payroll Tax be increased | | In Flux - Collect 2 to 4% for incomes greater than $250,000 | | |
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