INTERESTING INFO & TAX COMPARISONS

A forum not related to waterfowl for discussing the more controversial and hot topic issues in our world from immigration, politics, the war, etc..

Moderators: Smackaduck, MM

INTERESTING INFO & TAX COMPARISONS

Postby apexhunter » Thu Jul 24, 2008 1:02 pm

Here's a little tidbit for those out there supporting Obama and his 70 some odd days of experience with national economics (not to mention his lack of experience with the military that he proved earlier this week):

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MCCAIN 0% (No change, Bush repealed this tax)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

THE FOREGOING IS SOMETHING YOU SHOULD BE AWARE OF. . . IT SHOULD MAKE YOU THINK BEFORE YOU CAST YOUR VOTE IN NOVEMBER. IF YOU DON'T OWN ANYTHING NOW, CHANCES ARE YOU NEVER WILL BECAUSE TAXES ARE GOING TO GET IT ALL.

This will catch a lot of families off guard.
apexhunter
hunter
 
Posts: 2219
Joined: Tue Nov 14, 2006 6:46 pm
Location: Apex, NC


Postby David » Thu Jul 24, 2008 1:16 pm

I'm pretty sure the inheritance tax is still around.
ImageImageImage
User avatar
David
Lefty
 
Posts: 3715
Joined: Fri Jul 07, 2006 3:20 pm
Location: Mobile, AL


Return to Controversial Issues Forum

Who is online

Users browsing this forum: No registered users and 3 guests