Interactive: Tax plan roundup

  • Obama and Romney
  • Herman Cain, 9-9-9
  • Perry: Flat tax of 20%
  • Bush tax cuts expire

Obama and Romney

Current income tax, including $1,000 child tax credit and marriage penalty relief $57,000 income
  • They have a standard deduction of $11,600
  • Five exemptions at $3,700 each = $18,500
  • Taxable income of $26,900
  • Tax of approximately $3,185
  • Child Tax Credit of $2,000
  • Income tax of $1,185
  • (Plus Social Security/Medicare payroll tax of 15.3 percent = $8,721.)

Total tax of $9,906

Herman Cain,
9-9-9 flat tax

$57,000 income
  • Eliminates income tax and payroll tax
  • Levies three taxes equivalent to 25.38 percent, according to Tax Policy Center analysis

Total tax of $14,466

Perry: Flat tax of 20%

$57,000 income
  • Five exemptions at $12,500 each = $62,500
  • Federal Income Tax Owed = 0
  • Payroll Tax of 15.3 percent = $8,721

Total tax of $8,721

If the Bush tax cuts expire

Return of Marriage Penalty and Reduction in Child Tax Credit

$57,000 income
  • They have a standard deduction of $9,650
  • Five exemptions at $3,700 each = $18,500
  • Taxable income of $28,850
  • Tax of approximately $4,328
  • $500 child tax credit = $1,000
  • Income Tax = $3,328
  • Plus payroll tax of $8,721

Total tax of $12,049

Graphic by Ajani Winston