Obama's Tax Plan

[MrJohnWayne]

So I got this in an email today.

what do y'all think?

Subject: FW: Comparison of tax plans

This is pretty scary stuff.

Proposed changes in taxes after the 2008 General election:

CAPITAL GAINS TAX

MCCAIN
0% on home sales up to $500,000 per home (couples). McCain does not propose any change in existing home sales income tax.

OBAMA
28% on profit from ALL home sales

How does this affect you? If you sell your home and make a profit, you will pay 28% of your gain on taxes. If you are heading toward retirement and would like to down-size your home or move into a retirement community, 28% of the money you make from your home will go to taxes. This proposal will adversely affect the elderly who are counting on the income from their homes as part of their retirement income.

DIVIDEND TAX

MCCAIN 15% (no change)

OBAMA 39.6%

How will this affect you? If you have any money invested in stock market, IRA, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends, you will now be paying nearly 40% of the money earned on taxes if Obama becomes president. The experts predict that 'Higher tax rates on dividends and capital gains would crash the stock market, yet do absolutely nothing to cut the deficit.'

INCOME TAX

MCCAIN (no changes)

Single making 30K - tax $4,500
Single making 50K - tax $12,500
Single making 75K - tax $18,750
Married making 60K- tax $9,000
Married making 75K - tax $18,750
Married making 125K - tax $31,250

OBAMA (reversion to pre-Bush tax cuts)

Single making 30K - tax $8,400
Single making 50K - tax $14,000
Single making 75K - tax $23,250
Married making 60K - tax $16,800
Married making 75K - tax $21,000
Married making 125K - tax $38,750

Under Obama, your taxes could almost double!

INHERITANCE TAX

MCCAIN 0% (No change, Bush repealed this tax)

OBAMA Restore the inheritance tax

Many families have lost businesses, farms, ranches, and homes that have been in their families for generations because they could not afford the inheritance tax. Those willing their assets to loved ones will only lose them to these taxes.

NEW TAXES PROPOSED BY OBAMA

New government taxes proposed on homes that are more than 2400 square feet.

New gasoline taxes (as if gas weren't high enough already)

New taxes on natural resources consumption (heating gas, water, electricity)

New taxes on retirement accounts, and last but not least....

New taxes to pay for socialized medicine so we can receive the same level of medical care as other third-world countries!!!

You can verify a lot of the above at the following web sites:

Election 2008: The candidates and your money - CNNMoney

Taxes: Election Center 2008 - CNN.com

McCain Touts Free Trade, Defends Immigration Stance at La Raza - America’s Election HQ

McCain, Obama offer different visions on taxes

Fact Checker Archive by Category

Fact Checker Archive by Category

(and there are many more to choose from, just use your favorite search engine)


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NOTCONFIDENTIAL OR PRIVILEGED

[Banshee34]

I really wish there was a way to get all this information all of us aware of to all of those who support Obama.

[TXbroker]

Originally Posted by Banshee34

I really wish there was a way to get all this information all of us aware of to all of those who support Obama.

It would be great if we have a forum with Actual data, not specilation or assumption.

The single biggest problem with our voting system is the lack of factual and influx of fluff info we as voters recieve. Both sides taint the info.

Just give me the fact, i'm a big boy, give me unbiased details and let me do whats best for me.

[cja7928]

Originally Posted by Banshee34

I really wish there was a way to get all this information all of us aware of to all of those who support Obama.

Even if they had the info it probably wouldnt do any good. A good majority of liberals are easily manipulated by a smooth talking "feel good" im gonna make everything better type of candidate. Their choices are based on emotion not reality. I think someone here on the org said it best "liberals equal feel good solutions that dont work using other peoples money"

[TexasR.N.]

Originally Posted by cja7928

Even if they had the info it probably wouldnt do any good. A good majority of liberals are easily manipulated by a smooth talking "feel good" im gonna make everything better type of candidate. Their choices are based on emotion not reality. I think someone here on the org said it best "liberals equal feel good solutions that dont work using other peoples money"

Yup what he ^ said.
Craig

[LPstroker]

Originally Posted by Banshee34

I really wish there was a way to get all this information all of us aware of to all of those who support Obama.

That would never happen, those people are too blind.

[95dieselsmoke]

Originally Posted by cja7928

Even if they had the info it probably wouldnt do any good. A good majority of liberals are easily manipulated by a smooth talking "feel good" im gonna make everything better type of candidate. Their choices are based on emotion not reality. I think someone here on the org said it best "liberals equal feel good solutions that dont work using other peoples money"

so, so true