How much money will I get from a tax cut?
I am not a 1% and I am not poor. If I elect Mitt and he cuts my taxes, how much more money will I have at the end of each year then if I were to elect Obama?
- Ralph BLv 78 years agoFavorite Answer
Your taxes were cut in 2001 and later by Obama.
There is not enough spending cuts to support further middle class tax cuts. Romney's proposal is to further cut the taxes of "job creators", the 1%. Where jobs created when Bush did that in 2001?
No. It sounded like a good idea, a good idea unless you have a graduate degree in economics.
The way to prosperity is the growth of the middle class via jobs. And demand for goods and services is the actual job creator. So, if you are looking for more discretionary money in your checking account in 2013, go with the odds and elect Obama.
- 8 years ago
That depends on a lot of things.
Do you plan to go to college? Obama's American Opportunity Tax Credit can help.
Are you middle class with 3 or more children? The Earned Income Tax Credit gives you benefits.
Do you have children at all (and are middle to low class)? Try the Child Tax Credit.
Have you been unemployed? Think you might be, ever? COBRA and Unemployment Benefits will help you pay for healthcare and other basics.
Are you environmentally responsible? Claim your Energy Efficiency and Renewable Energy Incentives.
Do you want to start a small business? There are LOTS of tax cuts.
On the other hand, if you don't make $250,000+ a year, Mittens can't help you out much.Source(s): A 1%er who benefits more from OBAMA than ROMNEY