Friday, November 4, 2016

How does presidential tax policy affect me?

As we watch the circus that is this presidential election wind to a close (finally!), I started searching for an online calculator that would show how the candidate's tax plans would impact me personally.  I found a pretty neat one by Vox that is a bit older and still includes Cruz and Sanders in the comparison.  

Basically, no change for me under Clinton's plan--sounds good to me!  The really interesting ones are Cruz and Sanders.  Under Cruz, my tax liability would decrease enough to give me an extra $1,100 a month to my budget!  I certainly would love that, but I shudder to think what the schools, roads, and other social programs would look like in that world.

Under Bernie, I would have have needed to learn how to live with $860 less in my monthly budget! That would be quite the adjustment to whittle that out.  To put that in perspective, that is a little less than a I pay for my mortgage and taxes every month.

Take a peek at what the candidate's have in store for you/your family.



P.S. Is anyone else wishing we could have 4 more years of Obama instead of Hillary or Trump?!


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