After watching Al Gore blast George W. Bush for giving everything to the richest 1 percent of Americans, I figured I would check for myself exactly how much I’d save under the plan at TaxClarity. I’d go from paying about $1,250 a year in taxes to $20.
They have an option to test how much you’d save under Gore’s plan, but I couldn’t for the life of me understand the bizarre mathematical formula behind Gore’s targeted tax credit for child care, so I just put in the maximum allowable deduction there, and under his plan I’d pay about $550 in federal taxes.
I guess Gore wants to make sure us wealthy folk pay our fair share.