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Economic News, Data and Analysis

Tax Plans: Graphic

ChartJunk does a better chart of Obama vs. McCain tax policy. Be sure to click through for the chart.

chartjunk » Blog Archive » Tax Plans (that’s one for you, nineteen for me).

Tax Plans (that’s one for you, nineteen for me).
There’s a graph that Obama supporters are sending around, showing the differences between the Republican and Democrat tax cut proposals. It shows that Obama is not in fact planning to raise taxes – he’s planning to cut them for all but the very, very rich. I couldn’t help but notice though – the graph is still massively weighted towards the interests of the super-rich. For example, the bottom two-thirds of the population are given only a third of the space on the graph, while the top 0.1% of the population – one in a thousand people – gets almost 10%. What’s more, an “average tax cut” is then given, which seems to have been derived from taking a total of the nine income brackets shown and dividing it by nine. Journalists should really volunteer to take remedial arithmetic, you know. Once again, this ignores that one of the brackets represents one thousandth of the population.
So let’s make this a bit more accurate – let’s keep all the brackets, but draw it to scale.

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