Conservative Sugar
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Quantitative Easing Explained
Saved 7/29/08 to Conservative Sugar

Taxes under the new candidates


This was in my inbox this morning, and I haven't had time to check its validity, but I wanted to post it just to get the conversation started...

A few points to remember and consider: You can verify the tax information at http://money. cnn. com/news/specials/election/2008/index.html, if you'd like.

(INTERESTING DATA JUST RECEIVED ON TAXES & PROPOSED CHANGES IN TAXES AFTER 2008 GENERAL ELECTION.)

Time to consider your pocketbook:

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 on taxes if Obama becomes 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 (find your bracket)
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 (reverse all 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MCCAIN 0% (No change, Bush repealed this tax)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, 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 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!!!

RCLdesigngirl RCLdesigngirl 6 years 7 weeks
No, go right ahead! I still haven't checked the validity, though, so you might want to do a quick check first.
Great-Sommelier Great-Sommelier 6 years 7 weeks
RLC, do you mind if I repost this in a blog?
chancleta chancleta 6 years 7 weeks
this is so scary
chancleta chancleta 6 years 7 weeks
obama makes my tummy heart
samantha999 samantha999 6 years 7 weeks
Maybe this is his version of fuzzy math?
Cassandra57 Cassandra57 6 years 7 weeks
Thanks for posting this! One of my (many) concerns about Obama is his math. He proposes all these wonderful new programs, like health care, but I haven't heard much about how he plans to pay for it, just "repeal the Bush tax cuts." Voters really need to examine this, and the GOP needs to highlight it. --------------------------------------------------------------- I learned long ago, never to wrestle with a pig, you get dirty; and besides, the pig likes it. --George Bernard Shaw
Brendelwoman Brendelwoman 6 years 7 weeks
:coffee: I found something on this at snopes.com because the link in the post didn't direct me to something specific. Not all the information appears to be accurate. http://www.snopes.com/politics/obama/taxes.asp
tiff58 tiff58 6 years 7 weeks
That's what I was going to say, Barbie. I'm literally sitting here rubbing my temples. I guess it's all worth it, because he will give us free healthcare.
BeachBarbie BeachBarbie 6 years 7 weeks
:faint: I feel sick. Btw., I didn't check your source yet. God, help us all if it is true & Obama wins. :pray:
redegg redegg 6 years 7 weeks
Gah. This is scary.
cine_lover cine_lover 6 years 7 weeks
Wonderful. What do the Obama supporters have to say to defend all these new taxes? Absolute power, corrupts absolutely.