Balancing Act

No one likes to thinks about it but taxes are something we all have to face. For anyone who has caught the presidential debates or attempted to make sense of the two candidates’ tax proposals it is hard to tell which plan will be the most difficult to swallow. This is particularly true for those of us who tend to vote with our wallet.

By now, we have heard the worn tale of Joe the Plumber. We have heard the promise of Obama’s that 95% will receive a tax break and McCain’s belief that taxes should not go up for anyone.

What this voter and blogger has noticed is that neither candidate has been able to clearly articulate how their tax strategy will work in real life. I have heard anecdotes from each candidate but really aren’t we all thinking, “That’s great, but how will this effect me?”

Well, the good people at Quantrix and Professor Jeffrey Gramlich from the University of Southern Maine have broken out their calculators and reading glasses to create www.ElectionTaxes.com.

www.ElectionTaxes.com is an online tool that will show you what your tax bill would look like under each candidate’s plan. According to Gramlich in a statement “The economy is a key factor in the presidential election, and our interactive tool enables individuals to make an informed choice when casting their vote.”

The site does not require any personal identity information such as name or social security number. Simply enter in your income or provide more detailed information such as deductions and see which tax plan is best for you.