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Published on Jun 12, 2008
CNN shares the results of a non-partisan study comparing Obama's and McCain's tax plans. This excerpt of a video, first posted by Veracifier, has an important annotation.
Let's put this into perspective. US Household Income Distribution (US Census Bureau)
Bottom 10% $0 to $10,500 Bottom 20% $0 to $18,500 Bottom 25% $0 to $22,500 Middle 33% $30,000 to $62,500 Middle 20% $35,000 to $55,000 Top 25% $77,500 and up Top 20% $92,000 and up Top 5% $167,000 and up Top 1.5% $250,000 and up Top 1% $350,000 and up
About 90% of Americans make less than $112,000 a year and benefit from Obama's tax plan. McCain only benefits the top 10%--more than $112,000 a year.
This CNN report is slightly misleading because it does not talk about families who make less than $38,000 who benefit very much under Obama's plan. Most (about 60%) Americans make less than $38,000 a year. Come on CNN, you talked about the super rich, so let's also consider the more struggling Americans in our society as well. Your report only considers the top 40% of America's incomes, which is only 4 out of 10 Americans.