Do you have a presidential candidate that you currently favor? Are you interested in learning how your candidate’s tax proposals will affect your personal tax returns if they are elected?
You are only a few clicks away from the answer. The Urban-Brookings Tax Policy Center and the online news site Vox have created a calculator for individuals to give you an idea of what your tax bill will be if a specific candidate is elected. All you have to do is put your adjusted gross income for 2015 into the calculator, whether you are single or married and how many children are in your household.
The calculator will generally determine your tax liability under the five remaining presidential candidates. Ohio Republican Governor John Kasich’s tax plan was too vague to be included in the calculator.
Not surprisingly, both Donald Trump’s and Ted Cruz’ tax plans significantly reduce income tax while Bernie Sanders’ tax plan significantly increases one’s tax liability. Hillary Clinton’s tax plan slightly increases the tax liability for larger income taxpayers.
Perhaps this calculator will either solidify your decision as to whom to vote for or it may change your mind.