There is one week left before Americans go to the polls and vote for the next president of the United States of America. According to top political survey polls, Barack Obama has increased his lead by 8 to 10 percentage points.

Are you still on the fence about who to vote for? Will the candidates tax plans influence your vote? Well, here is a quick reference that clears up any questions you may have about Senator Barack Obama’s tax cut plan.

Married couples making $75,000, with 2 children, with one of them in college would be entitled to a tax cut of:

$3,700, this amount includes…

• $1,000 Making Work Pay Tax Credit
• $ 500 universal mortgage credit
• $4,000 college credit

Married couples making $90,000 would be entitled to

$1,000

Single parents, making $40,000, with 2 young children and childcare expenses would be entitled to:

$2,100, this amount includes…

• $500 making work pay tax credit
• $500 universal mortgage credit
• $1,100 from Obama expansion of the child care tax credit

A 70 year old widow making $35,000 would be entitled to:

$1,900

These calculations are based on IRS Statistics of Income. The good news is that these tax savings are actually conservative, because they do not account for other tax credits and incentives that you may qualify for, specifically:

• $500 in savings from expanded Savers Credit
• $2500 in savings per family from the Obama healthcare plan

Find out more of the Obama Tax Plan.