The Tax Policy Institute, a think tank run jointly by the Brookings Institution and the Urban Institute, concluded that under Obama's plan middle-income taxpayers would see their after-tax income rise by about 5 percent by 2012, or nearly $2,200 annually. "Those in the top 1 percent would face a $19,000, or 1.5 percent, reduction in after-tax income," the institute concluded in an analysis issues this week.
"McCain would lift after-tax incomes an average of about 3 percent, or $1,400 annually, for middle-income taxpayers by 2012," the institute said. "But, in sharp contrast to Obama, he would cut taxes for those in the top 1 percent by more than $125,000, raising their after-tax income an average 9.5 percent."
Analysis by Associated Press Writer Jim Kuhnhenn |
