The Tax Policy Center has created an online tax calculator the how each presidential candidate’s tax plan would affect you.
Check out the calculator by clicking here
A married couple with two children who makes 60K Household Income would
- Save $4,020 under Trump
- Save $2,220 under Cruz
- Pay $40 more under Clinton
- Pay $7,520 more under Sanders
We adjusted the income for 2017 dollars, which puts the average family at $62,718. On average, people — whose income is between $60,000 and $65,000 and are married with two or more children — would pay about $10,960 in federal taxes in 2017 under the current tax code, or an effective tax rate of about 12% of your expanded cash income. The following is how the individual income tax, the corportate income tax, excise taxes, and payroll taxes would affect people, under the candidates’ plans.
Pay $4,020 less(Tax rate: 7.6%)
Pay $2,220 less(Tax rate: 9.5%)
Pay $40 more(Tax rate: 12%)
Pay $7,520 more(Tax rate: 20.2%)