Aces High Bulletin Board
General Forums => The O' Club => Topic started by: Kaw1000 on August 22, 2008, 07:07:55 PM
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This is something you should be
aware of so you don't get blind-sided.
This is 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 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MCCAIN 0% (No change, Bush repealed this tax)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 t o loved
ones will not only lose them to< BR>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!!!
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So his hope for change is right back to the toejam Dem tax system?
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Anyone who believes the stories they read in chain emails truly gets the government they deserve.
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snopes is your friend.
http://www.snopes.com/politics/obama/taxes.asp
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It's official: Snopes is no longer a trustworthy source. That article is deliberately slanted towards Obamamans position--just about as misleading as the chain email that was cut-and-pasted in the original post was slanted toward the old white haired dude.
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Even if it were true.
The president is the president. Not absolute dictator.
He still has to get it past congress.
Which typically means getting it past a significant amount of members of the opposing party as well as their own.
All this nonsensical talk about beware of this side because they are going to do this. Or that side because they are going to do that.
NEITHER side gets anything they want without help from the other side.
In the end they all do it together then point fingers at the other side when things go wrong.
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It's official: Snopes is no longer a trustworthy source. That article is deliberately slanted towards Obamamans position--just about as misleading as the chain email that was cut-and-pasted in the original post was slanted toward the old white haired dude.
Now wait a second here. Obama himself has said he wants to raise taxes. He wants to tax oil companies for excess profits. I've heard from several sources about taxing retirement accounts. In fact it seemed for a while there was a contest between Obama and Hilliary on who could tax the most.
I've said it before Obama is less than intelligent. I'm not sure why his supporters are not seeing that.
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Now wait a second here. Obama himself has said he wants to raise taxes. He wants to tax oil companies for excess profits. I've heard from several sources about taxing retirement accounts. In fact it seemed for a while there was a contest between Obama and Hilliary on who could tax the most.
I've said it before Obama is less than intelligent. I'm not sure why his supporters are not seeing that.
Yup. I've read the same things. Did you read the snopes article that conveniently compartmentalizes all of the points listed in the email? It was obviously written by an obamaman staffer.
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My apologies about the false info in my post. I will research all facts before I post
something like this. <S> I forgot Obama is a Democrat...Democrats are good at giving things away
Not taking things away.
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well, i guess that makes him not a liar then. there is change comming
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When was the last time a president wrote a law that raised taxes?
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When was the last time a president wrote a law that raised taxes?
I'm going to go ahead and say..erm... NEVER.
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In the end they all do it together then point fingers at the other side when things go wrong.
This here is sig. material boys and girls. :lol :P :lol
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Even if it were true.
The president is the president. Not absolute dictator.
He still has to get it past congress.
Which typically means getting it past a significant amount of members of the opposing party as well as their own.
Americans at one time probably said the same thing about going to war too.
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Americans at one time probably said the same thing about going to war too.
And that statement held true then as well.
Ask Hillary what her vote was.
And where was her finger pointed when things werent going well?
81 of the opposing party voted in favor. 126 against
81 is a significant number.
Thats almost half
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The Clintons had planned a tax on home owners. If you own (even) a single home they want to tax you on the income you would have made on rent had you rented it instead of living in it yourself (insanity but non-home owners would see it as a 'tax on the rich' and it would get voted in). Somehow with the home mortgage crisis that went away from discussion in Congress. I bet Obama brings that one back.
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From Snoopes.com:
"The notion that Senator Obama is proposing raising the tax rate on dividend income from its current 15% level to a 39.6% is unfounded. Obama has proposed taxing dividends at the same rate as capital gains, and although he hasn't yet specified a figure for the latter, he has already stated (as noted above) that he "certainly would not go above" 28%. Also, the proposed increase would only affect households with income of more than $250,000 per year (a figure that encompasses about 2% of U.S. households.)"
The scary part of this statement is "although he hasn't yet specified a figure for the latter". Remember 1992 and Bill Clinton pledging not to raise taxes and then, within 6 months of taking office, he implemented the largest tax increase in American history. If Obama is elected I'm sure of 2 things. Clintons tax increase will become the second largest in history and Jimmy Carter will no longer be the worse President we've ever had.