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Re: What has Obama done well?
Quote:
Originally Posted by firstdown
I think the Obama deal is a true tax credit instead of just a write off. For example if I owe 3000 next year before my tax break when its applied I will only owe 1500. Under the Bush plan I really would only save at my current tax rate. So if I claimed 1000 for windows then that is not counted as income and I save 300 if I was at a tax rate of 30%. Under Obama's plan I can write off 30% of the total cost up $1500.
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Gotcha...thanks for the explanation.
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