Latest baseball scores, trades, talk, ideas, opinions, and standings

Archive for the ‘http://money.cnn.com/news/specials/election/2008/index.html’ Category

>Taxes Will Double Under Obama

>

I have no idea how you plan to vote, but you might want to read the following which can be verified. It comes to AngstBlogger from conservative John Raper.

INTERESTING INFO & TAX COMPARISONS FOR 2009 -CHECK THIS OUT

Verify tax information at http://money.cnn.com/news/specials/election/2008/index.html

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). Mc Cain 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 earn ed
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MCCAIN 0% (No change, Bush repealed this tax)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.

Please spread the word.

Advertisements