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Anyone interested in McCain/Obama Tax Plans?

Here they are. I know it's a LONG one, but I think it's very interesting. Our Presidential Candidates proposals on taxes, to be put into effect after 2008 General election: CAPITAL GAINS TAX MCCAIN 0% tax 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 tax on every $1.00 you gain. Heading for retirement and want to move to a smaller home, or a retirement community? Good luck. You will pay Big Government 28% of your "profit". (Personally, I'm counting on the equity in my home to fund a major portion of my retirement. This proposal is confiscatory. GG) DIVIDEND TAX MCCAIN 15% (no change) OBAMA 39.6% What productive citizen amoung us has no money invested in an IRA, mutual fund, college fund, life insurance, retirement account, or other instruments that pay dividends? Mr. Obama proposes Big Government take $.40 of every $1.00 your investments earn. So what effect will this have on our economy? Fiscal experts say: "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 $4,500Single making 50K - tax $12,500Single making 75K - tax $18,750Married making 60K- tax $9,000Married making 75K - tax $18,750Married making 125K - tax $31,250 OBAMA (revert to pre-Bush tax cuts)Single making 30K - tax $8,400Single making 50K - tax $14,000Single making 75K - tax $23,250Married making 60K - tax $16,800Married making 75K - tax $21,000Married making 125K - tax $38,750 Under Obama's regime, your taxes will double! If you think that is a good thing, perhaps you should send Big Government your check ear-marked for your special concern(s). I prefer to chose for myself who and how I help with my earnings. INHERITANCE TAX MCCAIN 0% (No change, Bush repealed this tax) OBAMA Reinstate the inheritance tax This impacts anyone (see exception below) who leaves or receives an inheritance. The Federal Pig will be first in line for its "share" of your legacy. Before Bush repealed this tax, many people lost homes, property, farms, family businesses, etc. which had been in their families for generations, because they could not afford to pay this tax. Many more were left in debt; the fruits of their inheritance eaten by the Pig Who will this NOT affect? The "filthy rich"; perennal targets of the self-righteous Left; people like the Kennedy clan, George Soros, the Hollywood Elite, ad nausia, and the mega-rich whose names we will never hear. The financially powerful pay skilled experts to protect their wealth, and these experts do their job well. Make no mistake, the Pig feeds off the Middle Class, not the rich! ADDITIONAL TAXES PROPOSED BY OBAMA New tax: Homes larger than 2400 square feet (more squeezing of the "rich"???.) Additional tax on gasoline! (?) New taxes: Consumption of natural resources (can you say heating fuel, gas, water, electricity) New taxe: Retirement accounts and last but not least.... New taxes: To fund socialized medicine. Under the Left's master plan, expect the same level of medical care as most third-world countries enjoy! Yes, you to may get to wait a year for a kidney transplant, or critical operation, as they do in Canada, England, and every other Country with socialized medicine. Vote. Again, I know it's LONG, but so informative and something that EVERYONE should be aware of. Believe me, I didn't make this up!!!!

Public Comments

1. Thank you. That is good information. I am sure a few of us will appreciate some real issues for a change.
2. And did your candidate - McCain....also propose how he was going to balance the budget...given that for the past 8 years under Republican rule...a perfectly balanced budget by Clinton (with a surplus) was blown to bits....This is why we have a falling dollar because of out balance budget and trade deficits...where Republicans have placed US in an IOU status....there are no free rides...Did you not learn that in Economics 101?