Design your tax plan that is fair and collects as much revenue as the current tax policy. We will post the results on the web site and release them to the media and politicians once we get 1000 submissions.
Click the Buttons for Different Plans, Then Make Your Own.
Your Plan $1,087,172 Billion
Use the buttons to set the Percent Tax for Each Income Level
| Your Tax Plan Compared with the Candidates' Revenue | ||||
|---|---|---|---|---|
| Total Revenue Percentage | Total Revenue Billions | Balanced | Surplus/Deficit Billions | |
| Your Plan | 100% | $1,087.17 | Neutral | $-5.00 |
| Current Plan | 100% | $1,092 | Neutral | $0.00 |
| McCain's Plan | 94% | $1,024 | Deficit | $-68.50 |
| Obama's Plan | 103% | $1,117 | Surplus | $27.52 |
These projections are based on a simplified tax model using 2006 IRS data for the quantitative numbers for the tax rates and income. This uses just one tax category (Two earner one dependent) and 9 coarse income levesl as the base for all comparisions. The estimates of the tax impact are based on the analysis of the Tax Policy Center (see Your Tax Page). The downloadable spreadsheet provides greater detail on how the calculations were made. Note the IRS and T08-0211 had somewhat differenct break points. To estimage the $20,000 for the IRS we averaged the $15,000 and $25,000 rates. For above $1 million we used the the tax rate at $2 Million annual income. Data on the total tax revenue derived from http://www.irs.gov/taxstats/indtaxstats/article/0,,id=96981,00.html. Note estimates for deficits/surpluses are approximations based on a single rate model to simplify the interface to enable voters to see the general effects. More detailed models with more tax categories would be used for more detailed projections. Data for the tax rate of the super rich is from the IRS listing of data of the top 400 tax returns and reports of that data in the Wall Street Journal http://s.wsj.net/article/SB120468366051012473.html.