Business Plans

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 4 0% 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 $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.

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MCCAIN 0% (No change, Bush repealed this tax)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 families
for 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….

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

Sources:

Snopes.com - in the SEARCH box, type ‘Proposed Tax Changes’.

Robert D. Jenkins
Vice President - Investments
Chartered Retirement Planning Counselor
Wachovia Investments Inc

Suzi- I read the WHOLE thing- it affects me. You would be wise to read the whole thing as well.

MCCAIN:

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

DIVIDEND TAX
15% (no change)

INCOME TAX
(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

INHERITANCE TA
0% (No change, Bush repealed this tax)

OBAMA:
CAPITAL GAINS TAX
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

DIVIDEND TAX
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 become president. The experts predict that ‘Higher tax rates on dividends and capital gainswould crash the stock market yet do absolutely nothing to cut the deficit.’

INCOME TAX
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 will more than double!
How does this affect you? No explanation needed. This is pretty straightforward.

INHERITANCE TA
Restore the inheritance tax

How does this affect you? Before the tax was repealed many families have lost businesses, farms and 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 not only
lose them to these taxes….read on…

I DON’T KNOW THIS IS TRUE OR NOT.
I ASK YOU ABOUT TRUTH OF IT.
HERE IS SOME LINKS”
http://www.factcheck.org/askfactcheck/would_obama_tax_my_profits_if_i.html

http://www.politifact.com/truth-o-meter/statements/404/

http://www.yoursouthhills.com/blog-entry/2008-presidential-candidates-issues-comparison+

http://culturekitchen.com/liza/blog/the_anonymous_producer_of_this_video_should_have_t

http://current.com/items/89205268_taxes_v_e_r_y_i_m_p_o_r_t_a_n_t

http://alifeinpages.blogspot.com/2008/09/if-youre-following-election.html

INTERESTING DATA RECEIVED ON TAXES This is something you should be aware of so you don’t get blind-sided.

Thisis 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 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 in 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 $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.

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 families for 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….

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

Does this make you “feel good” ?? Inspired ?? Is this the change you are/we are looking for ??