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Happy Presidents’ Day! A look at the presidential candidates’ tax stances

February 18, 2008

I hope you’re having a nice day off this Presidents’ Day. 

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Today is the perfect time, between hitting all the sales, to take a look at just what the presidential candidates say they’ll do to our taxes if we let them move into 1600 Pennsylvania Avenue.

So when you have to take a shopping break to let your credit card cool down, check out these Web sites that offer info on just where Clinton, McCain and Obama stand. Don’t read anything into that list order; we’re going alphabetical to avoid any charges of favoritism!

The Tax Foundation offers a nifty way to compare the candidates’ tax plans. The site starts with an outline of each candidate’s positions on the most important tax questions of this election and, as the race narrows and the remaining candidates refine and expound their positions, is updated.

And if you like engaging in "what ifs," you can even check on what the guys who have bowed out said they would have done for us taxwise.

Another good candidate-and-taxes comparison tool is the Tax Policy Center‘s matrix. At that site, you can download a spreadsheet that is updated as necessary with for the latest candidate tax policy data.

Citizens for Tax Justice has its own rundown. It’s a bit dated, but when it comes to taxes, more information is always better. And you’ll be able to see if anyone’s flip-flopped by looking at this and then some of the more recent tax position reports.

In that same regard, there’s also Tax Help Blog. Its November 2007 post has the tax views of the top 10 (at that time) presidential candidates.

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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