Here is an email that I recieved today regarding tax increases:
To those on the left and right, here is an insight into the issues. The
info can be verified on the sights below. You decide.
---------- Forwarded message ----------
------------------------------
McCain vs. Obama
*
*
------------------------------
ISSUE
JOHN McCAIN
BARACK OBAMA
Favors new drilling offshore US
Yes
No
Will appoint judges who interpret the law not make it
Yes
No
Served in the US Armed Forces
Yes
No
Amount of time served in the US Senate
22 YEARS
173 DAYS
Will institute a socialized national health care plan
No
Yes
Supports abortion throughout the pregnancy
No
Yes
Would pull troops out of Iraq immediately
No
Yes
Supports gun ownership rights
Yes
No
Supports homosexual marriage
No
Yes
Proposed programs will mean a huge tax increase
No
Yes
Voted against making English the official language
No
Yes
Voted to give Social Security benefits to illegals
No
Yes
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 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
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 could almost double!
INHERITANCE TAX
MCCAIN
- 0% (No change, Bush repealed this tax)
OBAMA
Restore the inheritance tax
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 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!!!
You can verify the above at the following web sites:
[
money.cnn.com]
[
www.cnn.com]
[
elections.foxnews.com]
[
bulletin.aarp.org]
[
bulletin.aarp.org]
[
blog.washingtonpost.com]
[
blog.washingtonpost.com]