Published: October 17, 2008 12:20 am            

Obama online tax calculator called informative, gimmick

TERRE HAUTE — “I’m not surprised,” Jason Kennedy, 26, said when calculating estimated tax savings on the Obama-Biden Tax Calculator.

According to projections on the Internet-based calculator, Kennedy and his wife, Jennifer, 26, would save $1,000 in taxes under Democratic presidential candidate Barack Obama’s tax plan compared with $680 under Republican John McCain’s.

But Vigo County Republican Chairman Bill Treadway said he isn’t surprised, either.

“My opinion on it would be, number one, consider the source,” Treadway said of Obama’s online calculator, calling it “a gimmick.”

The Kennedys were visiting the Campaign for Change headquarters Thursday afternoon with their daughter Lili as Terre Haute City Council President Todd Nation, D-4th, demonstrated the online calculator’s use.

“This tax calculator will show voters they’ll pay less taxes under Barack Obama,” Nation said Thursday afternoon.

Nation and other supporters of Obama gathered at the Campaign for Change Office at 509 Wabash Ave. where they clicked on http://taxcut.barackobama.com and used the campaign’s online calculator to show the reported difference in savings between the two tax plans offered.

Participants can enter their income, marital status, retirement plans and other tax information into the calculator and the reported savings will appear.

And according to Nation, the goal of the calculator is to show that “95 percent of Americans” will receive a larger tax break under Obama than Republican candidate Sen. John McCain, R-Ariz.

“John McCain just doesn’t get it,” Nation said. “All he offers is four more years of failed George Bush economics that got us into this recession.”

Jason is employed by M&B Logistics while Jennifer works retail, and together they have two children and consider themselves to be “middle class.”

Nation said the calculations are “estimates” and could vary depending on whether families itemize their deductions.

But according to the Obama-Biden Tax Calculator, about 95 percent of Americans fall into an income bracket that would yield them greater savings under the Democrat plan than the Republicans.

“McCain plans to continue to give the largest tax cuts to those making over $250,000 a year,” Nation said.

Meanwhile, Treadway said Obama’s proposed tax plan and online calculator simply don’t make sense.

“I don’t think this can be done,” he said.

Treadway said Obama is proposing an additional $1 trillion in new spending; meanwhile, the $700 billion federal bailout is still moving forward, wars overseas are still being waged, and none of it adds up, he said.

“It’s common sense,” he said, adding that 40 percent of America’s lowest-wage earners either don’t pay federal income taxes or actually “make a profit” because of the Earned Income Tax Credit. “But he’s going to make all that up just by taxing the rich,” Treadway said.

According to information provided by Nation, Obama will give a tax cut to 95 percent of workers and their families, in addition to eliminating income taxes for senior citizens making less than $50,000 and giving struggling homeowners a tax credit worth 10 percent of the interest on their mortgage.



Brian Boyce can be reached at (812) 231-4253 or brian.boyce@tribstar.com.

        

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