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0% (No change, Bush repealed this tax)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

[Dogmeat]

Making $200,000 now is _NOT_ the same $200,000 it was in the 90's, and it royally pisses me off people can't fucking figure this out.

It was the same stupid shit when Hillary was claiming "You are going to go back to paying what you were in the 90's" ....

Well, you mindless scumsucking bitch cunt (Obama is one of these too), with the value of the dollar being worth MUCH less than it was back then, you are absolutley HAMMERING people with those taxes.

People are so fucking stupid when it comes to buying into the horse shit about "taxing the rich" it just apalls me ...

People making $200k these days are fairly well off, they are FAR from "rich" ...

[Psykopath]

Making $200,000 now is _NOT_ the same $200,000 it was in the 90's, and it royally pisses me off people can't fucking figure this out.

It was the same stupid shit when Hillary was claiming "You are going to go back to paying what you were in the 90's" ....

Well, you mindless scumsucking bitch cunt (Obama is one of these too), with the value of the dollar being worth MUCH less than it was back then, you are absolutley HAMMERING people with those taxes.

People are so fucking stupid when it comes to buying into the horse shit about "taxing the rich" it just apalls me ...

People making $200k these days are fairly well off, they are FAR from "rich" ...

If they live like you, then this is 100% true...

[Dogmeat]

If they live like you, then this is 100% true...

Let's see here Zach, I'm the one who busted my ass getting a degree that's an AWFUL lot harder to get than others, I'm the one who is busting my ass doing a job living in a place that NO ONE wants to be in, living out in the middle of fucking nowhere, renting a room in a house, so I can afford other things in life I want to have right now.

I have not purchased my own home, which, would be quite literally all I could afford on the $75k I make, so that I can buy the toys I've wanted to have for the last 15 years of my fucking life.

I probably paid more in taxes last year than you've earned your entire life, and I've had a fucking job and been paying taxes on it since I was 13 fucking years old. In fact, the longest I've gone without a job in the last 13 years of my life was my last year at tech when I said fuck it and took more money out on student loans. Keep in mind, I had my old truck paid off before I ever showed up at Tech....this is probably one of the reasons I was 26 when I graduated instead of 23 or so.

Now, let's compare me to somone making $200,000 a year .... That person esentially has everything I have, aka, a nice vehicle and a few toys of various nature, but then they also own a home. Even despite all the tax incentives of owning this home, it's quite obviously still MUCH MUCH MUCH more expensive to own your own home than it is to do what I am doing right now.

Realy zach, how rich am I? I have a pickup truck, a pair of sleds, and a 4-wheeler, and I am renting a fucking room in a god damned 50 year old farm house to be able to afford that.

Were I making $200,000 a year, I could afford to what I have now, then my own reasonably nice home, and then perhaps be able to put some more money away for my retirement.

I sure as hell am not going to be buying that Corvette I've always wanted to on $200k a year if I'm expecting to own my own home right now....

Don't talk the talk until you've walked the walk

[Psykopath]

Let's see here Zach, I'm the one who busted my ass getting a degree that's an AWFUL lot harder to get than others, I'm the one who is busting my ass doing a job living in a place that NO ONE wants to be in, living out in the middle of fucking nowhere, renting a room in a house, so I can afford other things in life I want to have right now.

I have not purchased my own home, which, would be quite literally all I could afford on the $75k I make, so that I can buy the toys I've wanted to have for the last 15 years of my fucking life.

I probably paid more in taxes last year than you've earned your entire life, and I've had a fucking job and been paying taxes on it since I was 13 fucking years old. In fact, the longest I've gone without a job in the last 13 years of my life was my last year at tech when I said fuck it and took more money out on student loans. Keep in mind, I had my old truck paid off before I ever showed up at Tech....this is probably one of the reasons I was 26 when I graduated instead of 23 or so.

Now, let's compare me to somone making $200,000 a year .... That person esentially has everything I have, aka, a nice vehicle and a few toys of various nature, but then they also own a home. Even despite all the tax incentives of owning this home, it's quite obviously still MUCH MUCH MUCH more expensive to own your own home than it is to do what I am doing right now.

Realy zach, how rich am I? I have a pickup truck, a pair of sleds, and a 4-wheeler, and I am renting a fucking room in a god damned 50 year old farm house to be able to afford that.

Were I making $200,000 a year, I could afford to what I have now, then my own reasonably nice home, and then perhaps be able to put some more money away for my retirement.

I sure as hell am not going to be buying that Corvette I've always wanted to on $200k a year if I'm expecting to own my own home right now....

Don't talk the talk until you've walked the walk

LOL don't get so defensive/butt hurt. You're the one who has posted on here about all the "toys" you've bought and how expensive it is. =P

Just pointed it out in jest, but whatever. I really don't give two shits how much you earn in comparison to me, or how much anyone else earns for that matter.

[Dogmeat]

Just pointed it out in jest, but whatever. I really don't give two shits how much you earn in comparison to me, or how much anyone else earns for that matter.

That is all fine and dandy, but the point I'm trying to make is that those of us who make a decent amount of money generally have to work harder for it, and that generally is true throughout the entire pay scale. That's why it only pays $6.00 an hour to flip burgers. Just because somone's brother's cousin's sister's former room mate made $150,000 selling daipers on eBay doesn't mean that the large percentage of wage earners in the upper brackets were all trust fund babies or had these jobs handed to them or whatever.

There's a good reason people who make that much money make it, it's because they've worked harder for it and have earned it.

This is why it pisses me off when I constantly hear various politicians essentially using the gimmick of "tax the rich", because all they're doing is scraping the bottom of the barrel for votes with it.

[impala454]

This is why it pisses me off when I constantly hear various politicians essentially using the gimmick of "tax the rich", because all they're doing is scraping the bottom of the barrel for votes with it.

and sure seems they've roped in a few votes from techsans doing it.

[Psykopath]

and sure seems they've roped in a few votes from techsans doing it.

...

And you say liberals are elitist!

[Dogmeat]

...

And you say liberals are elitist!

Well, if thinking people who actually work for their fucking money deserve to keep what they earn makes me an elitist, then golly gee whiz, I'm an elitist

200k is still top 3% of country. I don't think its rich personally, but its better off than a lot.

oh and impala do your own research on it, i just said that i heard his plan on the radio. I didn't take notes or anything. He said Wallstreet journal approved of it or something.

I don't care if it's the top %.05 of the country....

[pebkac]

Well, if thinking people who actually work for their fucking money deserve to keep what they earn makes me an elitist, then golly gee whiz, I'm an elitist

No, that makes you like every other single person in the United States. Of course the catch is in defining who works for their money.

This post has been edited by pebkac: Jul 30 2008, 11:29 PM