Obama's Proposed Tax Hikes, And you thought you already paid enough? Options

[Billy]

Proposed changes in taxes after 2008 General election:

CAPITAL GAINS TAX

MCCAIN proposes:
0% on home sales up to $500,000 per home (couples)


McCain does not propose any change in existing home sales income tax.

OBAMA proposes:
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 proposes:



15% (no change)

OBAMA proposes:



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 be paying nearly 40% of the money earned on taxes if Obama become 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 proposes:



No changes, ie:
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 proposes"
Reversion to pre-Bush tax cuts, ie:
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 will more than double! How does this affect you? No explanation needed. This is pretty straight forward. You can figure that out according to your situation.

INHERITANCE TAX



MCCAIN proposes:



0% (No change, Bush repealed this tax)

OBAMA proposes:



Restore the inheritance tax

How does this affect you? 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 bequeathing their assets to loved ones will most likely lose them to these taxes. The sad part about this tax is that it was supposedly aimed at the uber-rich but hit the middle-class person.

NEW TAXES BEING 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) to overhaul national transportation infrastructure.

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

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

* New taxes to pay for socialized medicine.

[Billy]

Admittedly, this was from an email I received. I have not yet checked the validity. Feel free to discuss.

[pebkac]

I like it. The person who put that together ignored the parts of Obama's tax plan that would lower taxes. Taken as a whole, Obama's proposal would actually cut government revenue (although admittedly not as much as McCain's tax proposal would). But of course if you only take the parts of his plan that involve raising revenue but not the ones that lower it, then it looks like Obama's a tax-and-spender.

This post has been edited by pebkac: Jul 28 2008, 06:38 PM

[James]

Feel free to share the parts of tax that he's lowering. Honestly, I can't see them being nearly as important as the taxes he's raising. Lowering an obscure tax that applies to 1% of the population while raising a common tax that applies to everyone doesn't please me.

[Dogmeat]

i seriously hope obamas plane crashes and he dies.

seriously.

fucking communist.

[schwab]

its amazing how all the things i have read about obama lately have been from emails.....is it just that the right believes everything that is in their emails?

[Oasis]

its amazing how all the things i have read about obama lately have been from emails.....is it just that the right believes everything that is in their emails?

Kind of like how the liberals believe everything they read on their left wing propaganda websites?

[Psykopath]

i seriously hope obamas plane crashes and he dies.

seriously.

fucking communist.

I hope McCain dies from a heart-attack.

seriously.

Fucking nazi.

[Dogmeat]

I hope McCain dies from a heart-attack.

seriously.

Fucking nazi.

McCain isn't a nazi, he's way too damned liberal for that.

I think we need to fucking elect John Ashcroft for president

[Psykopath]

McCain isn't a nazi, he's way too damned liberal for that.

I think we need to fucking elect John Ashcroft for president

...

You've smoked waaaaaaaay too much crack.

[Dogmeat]

...

You've smoked waaaaaaaay too much crack.

I think we need Ashcroft for President and then have Cheney be our envoy to the UN ...

[impala454]

its amazing how all the things i have read about obama lately have been from emails.....is it just that the right believes everything that is in their emails?

You don't have to believe emails to know that democrats want to take all your fucking money so they can spend it in order to control your life. Obama is no different.

[Psykopath]

You don't have to believe emails to know that democrats want to take all your fucking money so they can spend it in order to control your life. Obama is no different.

Thanks, jackass....



I spit water on my keyboard after reading this!

[impala454]

hehe

you should invest in one of these:
http://gadizmo.com/duraflex-flexible-keyboard.php

[Dogmeat]

Thanks, jackass....
I spit water on my keyboard after reading this!

So how do the democrats NOT want to take all your money, at least if you're a middle-to-upper-middle class american?

I can't for the life of me figure that one out ...