Wal-Mart Stores Inc., Exxon Mobil Corp., ConocoPhillips Co., Bank of America Corp., AT&T, Berkshire Hathaway Inc., JPMorgan Chase & Co., and Microsoft Corp. — would each receive over $1 billion a year.

Think Progress

McCain’s Tax Plan or Obama’s? Both don’t look very good in my opinion. Kinda great not beeing an American citizen.

Greg Mankiw posted an picture displaying the effective marignal tax rates of Obama’s plan compared to how they’re currently from an analysis by Alex Brill and Alan Viard:

While both candidates will reduce their tax plans to clever sound bites, voters should consider how those plans would affect incentives to earn income. Unfortunately, Senator Obama’s proposed “tax cuts for the middle class” are actually marginal rate hikes in disguise.

One should read the article as Alan Viard pointed out that the analysis

does not find an increase in average tax rates, or in tax payments, at the income ranges shown in the chart.

The following chart is from an comment by Michael J. Boskin the Wall Street Journal:

Brian Provost wrote his view on the “Obama Tax Hike” in a post titled “Obama Vows To Crush The Top Internet Entrepreneurs?” and Aaron Wall asked “Populism to Kill the US Economy?“.