How many people believe in Obama's plan of Taxing us and how will it affect you if he is elected?

Question

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MCCAIN 0% (No change, Bush repealed this tax)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< 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!!!

Sources:  

Snopes.com - in the SEARCH box, type 'Proposed Tax Changes'.  

Robert D. Jenkins 
Vice President - Investments 
Chartered Retirement Planning Counselor 
Wachovia Investments Inc

Anonymous · Accepted Answer

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.

Uncle Pennybags · Answer

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.

butterfly24301 · Answer

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.

Anonymous · Answer

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

carroll i · Answer

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.

Joe D · Answer

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.

Anonymous · Answer

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?

Andrea · Answer

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

Glad to be here! · Answer

Obama is a disgrace

Expat Mike · Answer

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.

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How many people believe in Obama's plan of Taxing us and how will it affect you if he is elected?

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