NTERESTING DATA JUST RECEIVED ON TAXES

Spread the word.....


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 40% 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MCCAIN 0% (No change, Bush repealed this tax)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
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!!!

Do you have a source for these numbers?

This post was last modified: Jul 10, 2008 03:08 PM by EdTwo.

Errrrrrr.com.....friggin' taxes.....

Does anyone realize we have an almost 10 trillion dollar deficit? How do you suggest we pay for this debt? Do you all think we can just start wars for free?

"G"

The National Debt issue is mind boggling for sure. Taxing the general population to excess is not the answer. Provision for tax incentives to create more employment opportunities works for me. We have to begin utilizing more of our own resources for energy production for instance. Just realize in one industry, wind for electricity production, could lessen our oil dependence by 20%. We have to begin moving green. Oil is needed for so many things other than gas production.

The general population is oblivious to the problems our leadership has created. I have been told Government has grown 60% in the last eight years. More government is not the answer. The American people need to look at what is taking place in foreign countries and see for themselves. Our oil dependence alone is a sad state of affairs.

I can agree with that, but I also think that if we agree to engage in a war that is going to bankrupt us, that we have to understand we're going to be taxed in a higher manner than we would like.

"G"