More on the candidates tax plans
Written by Michael Vass
As you may recall I have been providing various tools, charts, and polls that can help you decide which candidate is the most inline with your thoughts and goals. It’s been a lot of information. And while I will continue to seek out this information, I want to mention a bit about what others have mentioned.
In particular is the tax code debacle. Everyone wants it to be simpler; no one has any idea how to do so. Even tax professionals admit that the system is more complicated than it needs to be. And the varying tax plans are no different.
But I noticed a post by The Wandering Tax Pro, which reviewed the 2008 Presidential Candidates’ Tax Proposal Matrix that I recently spoke about. The matrix provides all the candidates positions and plans for taxes, which have been made public. It’s a fairly direct yet somewhat dense list. But the Wandering Tax Pro does a good job of deciphering the information into a bite sized mouthful.
“I like Mitt Romney’s proposal to reduce the tax rate on interest, capital gains and dividends to 0% for taxpayers with AGI under $200,000. I am all for encouraging savings and investment. This may, however, may be a bit too much. Perhaps, instead, a variation on John Edwards’ recommendation to exempt the first $250.00 in interest, dividends and capital gains from income tax, similar in a way to the old “dividend exclusion” of my early days in the business (everything old is new again).”
I defer to the greater knowledge and familiarity that can be found in this post. It’s worth reviewing and it may help in separating the wheat from the chaff in this crowed primary race. Let me know if that helps.
admin @ October 22, 2007