In reality, there is a whole lot on the table, at least if you believe the talk.
Women's rights, social programs, healthcare, "jobs", the direction of energy development, how we will address our national debt, and everyone's favorite, TAXES are all up for grabs. Not to mention the future of the Supreme Court, and the fallout that can happen if appointments go one way or the other.
But on taxes..
Extends Bush tax cuts, except for individuals over $200k and families over $250k/year. Capital gains and invesetment income taxed harder, Obamacare tax built into capital gains, increased dividends tax, potential limits on itemized deductions.
Take away: wealthy tax payers and those with substantial investment portfolios are going to pay more tax. Middle class largely spared.
Extends Bush tax cuts for everybody, cut rates an additional 20%, if you are under $200k you pay no capital gains/dividend/interest taxes, repeal the estate tax. Pays for it by getting rid of "loophole deductions," which we are not sure what those are.
Take away: wealthy tax payers and those with substantial investment portfolios will make out like bandits. Everyone else pays their "fair share," with the middle class coming out about the same and the poor not getting much extra relief.
I found an interesting calculator that will tell you how each candidate's tax plan will affect your bottom line. Try it for yourself, here. No idea if it is accurate, just a fun tool. Interesting to see what happens at lower incomes, and extreme upper incomes, though (start at $500k, then keep going up. See a trend?)
I don't really care who, or what you believe in or support, and I will not tell you who to vote for. Mainly, because neither candidate has chosen to request an endorsement from Yourtexasestateplan.com.
Also, while you are here, vote in our scientific straw poll on the right.
Just go vote. It is your right and your duty. Then lets talk. About taxes.