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Post by HMWMDSpecialist on Jun 8, 2008 18:21:00 GMT -5
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Post by Bill on Jul 17, 2008 8:31:37 GMT -5
INTERESTING 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 the 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MCCAIN 0% (No change, Bush repealed this tax)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.
Everything above this level is accurate to a point. The BUSH Tax cuts were approved in the form of a "sunset law", which expires in 2010. What this means is that CONGRESS must extend these cuts or they automatically revert back to the tax law prior to the cuts. CONGRESS doesn't have to do a thing to raise your taxes. They will just let the cuts expire, and don't even have to vote on it. The democrats in congress can actually say they did not vote for a tax increase. Isn't that great. So this is not just about Obama for President. The congress in this election is at least as important as President. Just imagine.....Obama as President and NO congressional opposition. NOTHING could be worse.
NEW TAXES BEING PROPOSED BY OBAMA
* New government taxes proposed onhomes 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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Post by Bill on Jul 31, 2008 15:31:31 GMT -5
Whether you are a Democrat or a Republican, you might enjoy reading this...
"Walking Eagle"
Senator BARACK OBAMA was invited to address a major gathering of the American Indian Nation two weeks ago in upstate New York.
HE spoke for almost an hour on HIS future plans for increasing every Native American's present standard of living, should HE one day become the President.
HE referred to his career as a Senator, how he had signed 'YES' for every Indian issue that came to his desk for approval. Although the Senator was vague on the details of his plan, he seemed most enthusiastic about his future ideas for helping his "red sisters and brothers."
At the conclusion of his speech, the Tribes presented the Senator with a plaque inscribed with his new Indian name - Walking Eagle.
The proud
Senator then departed in his motorcade, waving to the crowds.
A news reporter later inquired to the group of chiefs of how they came to select the new name given to the Senator.
They explained that Walking Eagle is the name given to a bird so full of shit it can no longer fly.
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