Who has a better tax plan, McCain or Obama?
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MCCAIN 0% (No change, Bush repealed this tax)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 ??
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We need to raise taxes, the cost of Government has gone up, we need to spend more money on education and free health care
McCain. Obama will tax us to death and ruin the economy. The national deficit was actually LOWERED when Bush enacted the tax cuts and more taxes were raised during that time. When you tax too much, people lose the incentive to work, which means fewer tax dollars are collected. Obama will wreck our economy and our nation as a whole. He’s a dangerous man.
If you make over $250K per year…McCain
If you make less than $250K per year…Obama
Its as simple as that.
All the economist say the Obama’s plan will help the every day Joe.
McCain’s plan will raise taxes on all the middles class.
You don’t understand what taxes are for, your only focus is in not wanting to pay them
Being Canadian I pay more than you, but feel I get my moneys worth
McCain’s is better.
Hey Joe B,
Do a little history research - Since the Dynasties in China, England in the 1800s, JFK’s tax cuts, Reagan tax cuts, Bush tax cuts it has been proven that the lower the taxes the MORE income for government, the economy thrives.
However, the present congress is giving $ away at a furious rate - And have you heard Nancy Pelosi (D) Speaker of the House’s latest brain storm?? She wants to take a percentage of EVERYONE’s retirement and one of her planned group of recipients are Illegal Immigrants - to help them ‘realize their American Dream’ - How do you feel about that ?? You want to give your hard earned retirement $ to illegal immigrants so THEY can realize THEIR American DREAM?? What abt your American Dream??
Think about it. Jill
We are taxed enough, we need a line item veto and put a stop to waste in government. Obama’s tax plan will land on the working people, make no mistake about it.
Yet they will still love him! They don’t care or understand basic economics so it can’t affect them! After all ignorance is their excuse.
Can I see your sources for this?
I’ve heard about the capitol gains tax, but none of a lot of these taxes you are talking about.
What’s ignorant is people read everything they believe.
Its amazing how low Republicans will go to sway an election. Trying to fool people who have half a brain and will actually fact check and take the 8 seconds to actually do a little research.