This weekend I found myself defending Obama’s tax plan against McCain’s with a couple friends. In a nutshell I stated it wouldn’t be beneficial to vote for McCain (with your wallet foremost on your mind) unless you were making over 250k/year. Well, this morning I read a CNN Money report updated this past June concluding that my assessment was/is pretty accurate. However the 250k/year is actually closer to 150k/year (trust me, no one in the crowd was making even close to that). However, real disparities don’t come into account until around the 250k mark.

Here’s the breakdown:

Income Avg. tax bill Avg. tax bill
Over $2.9M -$269,364 +$701,885
$603K and up -$45,361 +$115,974
$227K-$603K -$7,871 +$12
$161K-$227K -$4,380 -$2,789
$112K-$161K -$2,614 -$2,204
$66K-$112K -$1,009 -$1,290
$38K-$66K -$319 -$1,042
$19K-$38K -$113 -$892
Under $19K -$19 -$567
Table courtesy of CNN Money

In brief, each individual for the group in question stands to gain an average of $723/year if they vote for Obama over McCain.

If money is so important to you, don’t you think it would be beneficial to research the candidates prior to assuming the Republican is always going to be better on your pocket book?

Here’s a second source pretty much reiterating CNN Money numbers.
And a third source…