DATA JUST RECEIVED ON TAXES

This is something you should be
aware of so you don't get blind-sided.
This is really going to catch a lot
of families off guard. It should
make you worry.

Proposed changes in taxes after 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 the
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 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 (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 20 $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
Mar ried m aking 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.

INHERITANCE TAX

MCCAIN 0% (No change, Bush repealed this tax)

OBAMA Restore the inheritance tax

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

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)

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

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



I just recieved this email as forwarded to me. I only believe about 5% of the stuff that comes in my email box. As we all know Obama is going to be the next president. I am republican and voting that way.

I guess I will have to do some home work tonight on it.

Gotta love Fact Check:

http://www.factcheck.org/askfactcheck/would_obama_tax_my_profits_if_i.html

Guess we will see for sure or not. Not sure how he is going to pay for all of his "programs"

Maybe next time you'll check before posting BS like this!!! And since you post the lie in full, you owe it to those who read this board to post the retraction in full.

I am amazed that you can post pure garbage, and then say...."we will see for sure or not".

Another set of Republican lies.

David, I'm not sure where you're getting this information but I find it amusing that critics are calling Barack Obama a socialist. The fact is our economy is a wreck and while it's not completely Bush's fault, you can lay a lot of blame at his feet. He has been like a drunk sailor with a credit card, running our debt to astronomical levels. Tax rates were higher under Ronald Reagan and he in fact signed a bill increasing social security tax rates because he knew it was unsustainable otherwise. Now should he be called a socialist? He wasn't exactly the most fiscally responsible president but he looks like an economics professor compared to Bush. Taxes should be increased to try and scale down this massive snowball of debt. I don't like paying taxes more than anyone else but our society has become obsessed with debt. I think it's about time we start paying for things now instead of putting everything on a credit card or passing it on to future generations.

Well, I think we can easily pay to help the American people build jobs and infrastructure, given we are spending 80 billion a freaking month in Iraq.

Providing incentives for small to mid sized businesses to take advantage of demand will result in jobs. More jobs = more tax revenue.

The real truth is that Obama is gonna tax that top few percent hard enough to pay back the cuts they got during the Bush administration and use that money to bolster the middle class.

That's most of us!

If the middle class is running well, then small to mid-sized business will be running well and that's the backbone of our economy.

David, you take the time to read an email, come in here, copy, paste it...

...and then exactly 5 minutes LATER decide to look into it? Only to have it proven completely false?

Is that a fair call on what just happened?

Shoot first, I guess, eh?

David:

Now that those "proposed changes" have been proven wrong, and with a little bit of research one can see that McCain's tax policy is going to once again favor the wealthy, are you going to take that to heart and re-evaluate the candidates?

The truth: 5% of taxpayers will see their overall taxes go up. The other 95% will either stay the same or go down under Obama's proposal.

That email is targeted towards the low information voters, like the tuna that posted it.

I think we should just get rid of all taxes - they suck! Would it be great if we didn't have to pay taxes anymore???

Let's just borrow everything from the Chinese from now on until the world catches on. Maybe the next president can get our national debt up to $30 Trillion before he leaves office in 2017.

Deficits don't matter - ask Dick Cheney! Why should people be taxed to pay for US Government spending? What an imposition! Not very patriotic, either.

Andrew

Like most EXTREME RIGHTIES that are salivating to find something that will drive a stake into Obama's heart. They come up empty!
Keep looking.....