I wonder how many people have done the math on how an Obama tax plan may effect them? I am simply taking into account income taxes. My personal guess is a) Obama cannot lower taxes on 95% of Americans b) that a massive tax cut on lower bracket Americans (if it could happen) would result in other tax increases on the state and local level and c)whether he lowers taxes on 95% of Americans or not….those in upper brackets will pay.Just a little background info…my husband is a fourth year med student. It took 3 years for him to get in (though we watched several ladies and international students with lesser grades and lesser scores get in ahead of him) he finally signed a rural match contract, meaning he has to work in the butt-crack of America for 4 years…on the plus side instead of $150,000 in student debt, we will only have about $75,000 in student debt.
The last seven years have been tough, in the end though it will all be worth it because we will have a better life, and my husband will be doing what he loves…saving lives in the emergency room. I have had full time career since graduating with a degree in Political Science and Psychology, but have worked one sometime two part-time jobs to supplement our income. But hey, the sacrifice will lead to a more comfortable life, right?
As election time nears I have found myself VERY angry and worried with the possibility of what tomorrow will look like for us wtih an Obama government. Under Obama’s tax plan, once my husband completes his resident program, he will bring home about $124,000/year. THAT’s right after 3 years of being rejected from school, despite his 3.7 GPA, above average MCAT and phenominal school/volunteer/community involvement, because he was a white male… After 4 years of hard work and financial struggles. After three years of 70 hour weeks in a resident program. My husband will work in a small town, and moon light in another town. He will likely bring in over $200,000/year but he will only bring home about $124,000.
Not a really good Return on Investment. Now some may say…$124,000/year is really good pay. And, for a small town it probably is, but when you look on the investment….$124,000 is not a really good return…and that is BEFORE he makes a monthly payment on the loans that he does have, after which he will bring home closer to $110,000/year.
My husband’s dad makes more than that in the same small town working at a factory with little education.
My inlaws by-the-way are voting….Obama.
Mine is only one story of many out there. This is just to show how an Obama presidency could effect the lives of individuals all across the country. Encourage friends who have yet to decide between Obama and McCain to do the math on what their take-home may be under Obama. This is of course if they still HAVE a job under him.