Simple analysis of Obama and McCain tax plans here Notes: The analysis does not point out that the 40% of people who do not pay any Federal tax will receive "tax cut" checks from the IRS. The upper brackets (over 100K) have significant tax increases. If you also increase capital gains taxes I think you really end up hurting the middle class as the rich will cut back on their spending, cut back on investing and not be as interested in creating or investing in new businesses. Just my humble opinion. Cut everyones taxes and everyone wins. Also the chance of Obama changing his plan and increasing taxes on everyone is highly probable.