The tax watchers among you likely will be be laser-focused on today’s presidential contest. That’s because the candidates – President Barack Obama and Republican challenger Gov. Mitt Romney – present starkly different approaches to tax policy and whomever is elected, their plans are likely to impact your wallet.
Romney, according to his website, has proposed, in general, an across-the-board 20 percent cut in marginal tax rates, eliminating taxes on capital gains, interest and dividend income for for taxpayers earning below $200,000, and cutting corporate taxes.
Meanwhile, Obama’s website says he proposes, in general, asking high-income earners – those earning more than $250,000 – to pay a larger share of the tax burden and eliminating tax breaks for companies operating overseas.
(Those are some bullet points of their plans in broad strokes – not comprehensive portrayals – and ignore opposing viewpoints.)
So whose approach do you prefer, Obama’s or Romney’s? That answer can differ from who you vote for today based on a variety of other issues facing the country. But we’re interested in who you think has the best approach to tax policy. (If you want to share who you voted for and discuss their tax policies, feel free to do so in the comments).
Photo: Mitt Romney and President Barack Obama during the third presidential debate. (Associated Press)