How many people believe in Obama’s plan of Taxing us and how will it affect you if he is elected?
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MCCAIN 0% (No change, Bush repealed this tax)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
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Great post, most of his supporters think he will only tax the rich and leave them alone, a selfish belief and wrong. Obama will confiscate more money because he is a socialist and believes he knows better how to spend your money that you do.
Clinton promised to only raise taxes on people making over 200k and it wound up being anyone making just under 30k and up. With Obama’s plan it will be 59% before state taxes. He wants to take all your money and spend it for you as he see’s fit
You left out McCain’s $2,500 prt prtdpm, $5.000 per family tax credit to pay for health care.
You left out McCain’s doubling of the minimum personal income tax credit.
Which is no surproise most people do
Why dont you get your info from the candidates sites rather than snopes.com? You even got McCain’s tax parts wrong.
I will no longer be able to send my daughter to college ( who came home from school an Obamabot). Oh well, you get what you deserve.
It still strikes me as incredibly odd that Obama’s tax plan is almost a verbatim copy of current Canadian tax law.
You know, if it means we also get Canada’s looser alcohol, marijuana, and prostitution laws, it just might be worth it.
You should have a a 900# like Ms. Cleo. I am so glad you can predict the future.
OMG….you DO realize that your link to this information completely calls your ‘information’ a lie??
That is the purpose of Snopes.com….to get the facts….they post the lying email first, then dispute it with facts….scroll down, and you will see that this is a smear campaign email….not factual.
I believe his taxes are heinous and I am Republican,not socialist- so I won’t be voting for him
Where are you getting this information from? None of those facts about Barack Obama or John McCain are even true! I wouldn’t be surprised if you were just a ten year old trying to make up stuff just to sound smarter than you really are.
obama is a cancer, not a man
All of this is bs and you know it.But hey keep drinking that kool-aid.If you loved w you’ll really love McSame.
Under Obamas tax plan anyone making less than 250,000 will not get a tax increase.and some will get a tax cut.
Investment banker -what would you expect.
THANK YOU! I am forwarding that link on to every one in my address book. Every one should know this. Obama is for change. Yes, every penny he can get! Yes it will effect me. He will put me right out of a job, so, I won’t be paying any income tax.
your insecurity is showing, mr. bush , why did you do so much damage in such a short time, that one hour on sunday ain’t cutting it
Obama is a disgrace
How will this affect me? Well, I think this along with the global poverty act S.2433 Obama wants to pass will put MY FAMILY into poverty as we live paycheck to paycheck.
Obama calls himself the great equalizer right?
I’m sorry, but your info is bogus. Snopes itself, which you reference, says it is bogus. I have seen nothing about Obama taxing profit from home sales. Snopes said that was bogus. Furthermore his tax plan should result in less federal income tax for those on the lower end of the income scale.. I think your income tax rate list on incomes use the same income levels from 2001 or 2001. Those tables are updated every year and the income levels are inched up.
Go to Snopes and actually read what it says, instead of just copying and pasting it.