Taxes/Debt? - Some helpful graphics

McCain’s vs. Obama’s Tax Plan:

I would  to point out that Obama’s avg. tax increase of 3/4 million on households making above $2.87 million, includes households making 100s of millions (so for the 150,000 households in the U.S. that fall into that bucket, for many of them,  that’s less then  1% of their income.  Also, the  percentages highlighted in red/blue are  not absolute percentages against their income, but the amount/percentage their current taxes would change.

Source: Washington Post. 

Projected National Debt:

Below we see the projected National Debt for each candidate’s tax plan.  The first chart is if the Bush Tax Cuts expire in 2010, the second is if they don’t expire (as both candidates compare their tax plans to for some reason.)  So also to note here, while Obama does seem to drive us further in to debt, it’s not as bad as McCain’s.  I am still waiting for an economically conservative republican president in my lifetime (they all seem to drive national debt pretty high, see next graphic)

Source: Washington Post. 

Historical National Debt (and sometimes surplus) 

Source: headybrew.net. 

And finally, who owns our national debt?  Top 5 share holders (billions of dollars):

Source: good ol’ wikipedia.org.

And be sure to check out the CIA World Fact Book to see:

• Worldwide National Debts (U.S. is wining with $12+ trillion)
• National Debt as a ratio of GDP