Both Obama and McCain have tax cuts in store for America; Obama will shift the tax burden so the vast majority of Americans will pay less and the rich closer to their fair share.Obama will let the Bush tax cuts expire (which is not the equivalent of a tax increase unless you live in Bizarro world and reason with Bizarro logic), while McCain wants to continue wasting resouces on handouts for the rich.  Here's who much you will save under either Obama or McCain (note that there many other variables you need to take into consideration when making up your mind about tax policy, e.g. a tax cuts may save you $2,000 a year, but eliminate a program that is of greater value to you - such as having better roads to drive on, living in society where the poor don't go homeless, etc...). Keeping in mind that you shouldn't favor a tax policy simply based on how much cash you save, here is the direct effect either Obama's or McCain's tax plan will have on your wallet:

If you make $0 to $20,000 you will save:

• $567 under Obama
• $19 under McCain

If you make $20,000 to $38,000 (about 40% of American households make less than $38,000) you will save

• $892 under Obama
• $113 under McCain

If you make $38,000 to $66,000 (note the median household income is $46,000 as of 2007, more than 2-thirds of Americans make less than $66,000), you, along with the vast majority of Americans will save,

• $1,042 under Obama
• $319 under McCain

If you make $66,000 to $112,000, along with about 87% of Americans who make less than $110,000, you will save

• $1,290 under Obama
• $1,009 under McCain

If you make $112,000 to $161,000 you will save

• $2,204 under Obama
• $2,614 under McCain

If make $161,000 to $227,000, putting you in at least the top ca. 6-7% of American households), you will save

• $2,780 under Obama
• $4,380 under McCain

If are at least among the top 2.5% and make between $227,000 to $603,000 you will pay $19 more under Obama and save $7,781 under McCain

If you are among the 1%, but not 0.1%, i.e. semi-rich (I usually use $1,000,000 per year as the cut-off for what I call "rich"), making $603,000 and $2,900,000 , you will pay $115,974 more under Obama and $45,361 under McCain

Finally, if you are super-rich, making $2,900,000 or more (only about 0.2%-0.1% of Americans do), you will pay $701,885 more under Obama and save $269, 364 under McCain (note that many in this group make far more than $2.9 million - the Fortune 400, for example, had an average income of $214 million in 2007)

Simply put, unless you are among the bottom 99.2%, you will pay less taxes, less so under Obama if you make less than $112,000 and about as much as under McCain if you are in the bottom 94% and make less than $161,000. If you make more than $603,000 you will pay more under Obama, but perhaps you have a concience and favor poverty relief, universal health care and a good education for everyone, and are thus willing to see the Bush tax cuts expire.