- Days left
Obama Romney Taxes
By Gregory Ferenstein

How much cash would you have in your pocket if Barack Obama were elected? Two Berkeley students have created a fun web app, Politify, that you lets you find out how each candidate would affect your pocketbook, based on your age, income, and number of dependents. Politify's predictions are based off of non-partisan economic models of each candidate's proposed tax plans. Users can also see the impact on their neighborhood, city, or the whole country.

The inviting user interface is enough to make up for the fact that the economic implications of an election are nearly impossible to predict and the fact that Mitt Romney has infamously refused to reveal details about his tax plan. The app also can't tell users how likely they are to lose their job, the impact of healthcare costs, depreciation of the dollar, costs of foreign wars, or any of the indirect costs associated with different fiscal policies.

Still, it's a fun app. Play it here.

This story originally was originally published by TechCrunch.

See more on TechCrunch:
Another Piece in Twitter's Money Puzzle
MilkTape: $15 for 128MB USB Drive Disguised as a Cassette Tape
Google Starts Pre-Approving More Google+ Vanity URLs

Increase your money and finance knowledge from home

How much house can I afford

Home buying 101, evaluating one of your most important financial decisions.

View Course »

How to Avoid Financial Scams

Avoid getting duped by financial scams.

View Course »

TurboTax Articles

Infamous Tax Crimes

Although most Americans fill out their tax returns diligently and honestly, not all taxpayers are as respectful of the law. Some wealthy taxpayers cheat because they feel they already pay more than their fair share of taxes, while some regard the entire tax system as unconstitutional. Regardless of the reason, it's big news when the rich and famous are convicted of tax crimes. You're likely to know at least one or more of the famous names on this list of notorious tax cheats.

Cities with the Lowest Tax Rates

The total amount of tax you pay reaches far beyond what you owe the federal government. Depending on where you live, most likely you're required to pay additional taxes, including property and sales tax. The disparity between the amount of tax you pay in a low-tax city and that in a high-tax city can be dramatic. Living in any of these 10 cities could save you a bundle, although the exact amount may fluctuate based on your income and lifestyle choices.

Cities with the Highest Tax Rates

Much ado is made in the press about federal tax brackets, but cities can carry a tax bite of their own. Even if you live in a state that has no income tax, your city may levy a variety of taxes that could eat away the entire benefit of living in an income tax-free state, including property taxes, sales taxes and auto taxes. Consider all the costs before you move to one of these cities, and understand that rates may change based on your family's income level.

Great Ways to Get Charitable Tax Deductions

Generally, when you give money to a charity, you can use the amount of that donation as a deduction on your tax return. However, not all charities qualify as tax-deductible organizations. While there are many types of charities, they must all meet certain criteria to be classified by the IRS as tax-deductible organizations. There are legitimate tax-deductible organizations in many popular categories, such as those listed below.

A Freelancer's Guide to Taxes

Freelancing certainly has its benefits, but it can result in a few complications come tax time. The Internal Revenue Service considers freelancers to be self-employed, so if you earn income as a freelancer you must file your taxes as a business owner. While you can take additional deductions if you are self-employed, you'll also face additional taxes in the form of the self-employment tax. Here are things to consider as a freelancer when filing your taxes.

Add a Comment

*0 / 3000 Character Maximum


Filter by:


September 02 2012 at 2:48 PM Report abuse rate up rate down Reply


REPORT: Seniors Will Pay $60,000 More For Medicare Under Romney/Ryan Plan
By Igor Volsky on Aug 24, 2012 at 9:53 am

August 26 2012 at 6:42 PM Report abuse +2 rate up rate down Reply

REPORT: Seniors Will Pay $60,000 More For Medicare Under Romney/Ryan Plan
By Igor Volsky on Aug 24, 2012 at 9:53 am

August 26 2012 at 6:38 PM Report abuse +1 rate up rate down Reply
1 reply to Adele's comment


September 02 2012 at 2:51 PM Report abuse rate up rate down Reply

Obamas a fiasco

August 26 2012 at 2:51 PM Report abuse -3 rate up rate down Reply


August 26 2012 at 2:49 PM Report abuse -3 rate up rate down Reply

Obama is not trying to make us into a Socialist Nation like the Europeans, but like the Mexicans. The richest man in the world is a Mexican and he controls the Mexican government through bribes and intimidation. Therefore he is in effect the Mexican people's slave master. Socialism promises equal distribution of wealth but delivers poverty for all but the ruling elite. Get it?

August 26 2012 at 5:55 AM Report abuse -2 rate up rate down Reply

I know I have been richer under President Obama because he gave rich people like me a tax cut. And let us not forget all my insider trading too darlings

August 25 2012 at 3:51 PM Report abuse -1 rate up rate down Reply

Everyone will be poorer with Obama, and richer with Romney.

More importantly, we will all be much freer, and preserve our liberlties and "inalienable rights", with Romney.

August 25 2012 at 2:25 AM Report abuse -1 rate up rate down Reply

Joe Biden would have used the word see Y'all later. He learned that from Hillary and Al Gore when they did their preacher stunts in front of African American audiences. They were embarrassing but not as embarrassing as Maxine Waters said Obama was when he did his preacher stunt in front of the Black Caucus.

Maxine said Obama was inauthentic.

August 24 2012 at 9:10 PM Report abuse -2 rate up rate down Reply

Bill Clinton is the perfect example and represents family values. Cheating on his wife in the White House and then lying about it. And poor Chelsey.

And all those other affairs Bill had when he was govenor. tsk tsk.

August 24 2012 at 9:06 PM Report abuse rate up rate down Reply