Example of text message with tax estimates
/ FOX21 News
Shows tax burden under Obama or McCain
By Laura Forbes
Friday, October 10, 2008 at 6:33 p.m.
Read more: Local, State, Education
COLORADO SPRINGS, COLO. -- In these tough economic times, many people are wondering what impact the two candidates would have on their pocketbooks.
Now, two Colorado College students have come up with a quick and easy way to find out. It's a text message that shows you what your tax burden will be under either President McCain or President Obama.
Kyle Cureau and Jess Arnsteen have heard the rhetoric and wanted voters to have an easy way to find out the truth about taxes. Their solution? Tax texting.
"Implementing new technologies to promote voter awareness," said Cureau.
Other than the standard text messaging rates, it is free. You simply send the word "tax," along with your income, and get an immediate response.
"It is definitely something you can do in a coffee shop and show your friends," said Cureau.
Arnsteen said, "As it breaks down, typically 95 percent will get a tax cut under Obama. Under McCain, 100 percent get a cut."
The question is--how much? According to Money Magazine, the median family income in Colorado Springs is around $60,000. The text message says that would mean $319 less under McCain or $1,042 less under Obama.
But what if you make significantly less, say, around $16,000? The text says you would pay $19 less under McCain and $567 less under Obama
Now, how about those who make around $300,000? Our text says, you will pay $7,871 less under McCain or $12 more under Obama.
But how can you be sure the information isn't biased? Cureau and Arnsteen say, because it comes from the Tax Policy Center.
"They are a self-proclaimed non-partisan center made up of tax experts from across the board," said Arnsteen.
Both say the text is just an estimate. Specifically, it is an average for your tax bracket. The accuracy depends upon a lot of variables, but it's one more way of making an educated decision this November.
The service has only been up for a few days, but already they say they've had about a thousand hits.
If you'd like to try it out, send the word "tax" and your income to the number 95495. They also have the information on their website.
