Which Presidential Candidate is Better for Your Wallet?

Posted by on Nov 6, 2012 in Election

I recently appeared on WLTX to discuss the impact of the elections on your investments and tax bill.  Here is a comparison of the tax proposals and a copy of the clip.

Obama Romney
Ordinary Income Rates Increase rates for those making more than $200K/Individual and $250K joint.Proposed Tax Rates10%15%

25%

28%

36%

39.6%

Extend all tax cuts and cut rates overall by 20%. Highest tax bracket would be 28%.Proposed Tax Rates8%12%

20%

22.4%

26.4%

28%

Capital Gains Rate 20% capital gain for high earners 15% capital gains rate for high earners, 0% for everyone else
Dividend Tax Rate Ordinary income rates for those making more than $200K/Individual and $250K/Joint. 15% for people making over $200,000; 0% for everyone else.
AMT Buffett rule- requires minimum  30% tax rate for those making $1M or more Repeal  AMT
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