Americans for Tax Reform and Rutledge Capital Release 2008 Election 401(k) Calculator

WASHINGTON, Oct. 10 ATR-401k-calculator


Capital Gains and Dividend Tax Rates Have a Great Effect on Nest Egg Value



WASHINGTON, Oct. 10 /PRNewswire-USNewswire/ -- Americans for Tax Reform (ATR), in partnership with Rutledge Capital, has launched a new "2008 Election 401(k) Calculator." It is prominently featured on www.atr.org, and will be available through Election Day.



The calculator asks a voter to input the value of his or her 401(k). Then, it recalculates what their 401(k) will be worth under four different tax scenarios:



The Obama plan to raise the capital gains and dividends rate to 20% 
The McCain plan to cut the corporate income tax rate from 35% to 25% and allow for immediate expensing instead of long depreciation 
The Hill Democrat/Obama-in-the-Primaries plan to raise the capital gains tax to 28% and the dividends tax to 39.6%, and 
The ATR plan to cut the capital gains and dividends rate to 0%, cut the corporate rate to 25%, and allow for immediate expensing. 




Since the calculator is a widget, the code is available by clicking "get this widget." It can be loaded up on any blog or website.



"This election may prove to be the "401(k) Election," said ATR President Grover Norquist. Obama doesn't have a single proposal that would increase anyone's 401(k) plan. With the market taking a bite out of people's nest eggs, the last thing taxpayers need is a stock market-killing hike in the capital gains and dividends rate."



While 401(k) plans are tax-advantaged and don't pay capital gains and dividends taxes, raising and lowering those rates has the effect of making stocks more or less valuable. Since 401(k) plans hold stock mutual funds, a change in these key tax rates has a direct effect on a 401(k)'s bottom line.



Dr. John Rutledge is a leading economist who has advised several presidents, including the current administration. He also advises multinational corporations, financial institutions, and investors. He is the author of a new book, "Lessons from a Road Warrior."



Americans for Tax Reform (ATR) is a non-partisan coalition of taxpayers and taxpayer groups who oppose all federal, state and local tax increases. For more information or to arrange an interview, please contact John Kartch at (202) 785-0266 or at jkartch@atr.org.





SOURCE  Americans for Tax Reform