Can YOU Afford Higher Taxes?

October 22, 2008 by Maxi

ISSUE

Proposed programs will mean a huge tax increase.  McCain: no   Obama: yes

Voted to give Social Security benefits to Illegal Aliens. McCain: no    Obama: yes

Will institute a socialized national health care plan. McCain: no   Obama: yes

Supports gun ownership rights. McCain: yes       Obama: no

Favors new drilling offshore US. McCain: yes      Obama: no

Capital Gains Tax
McCain –
0% on home sales up to $500,000 per home(couples). McCain proposes no change on existing home sales tax.

Obama – 28% on profit from ALL home sales. If you sell your home and make a profit, you will pay 28% of your gain in taxes.

Dividend Tax
McCain –
15% (no change)

Obama – 39.6% (How will this affect you?) If you have money invested in stock market, IRA, mutual funds, college funds, life insurance, retirement accounts, anything that pays or reinvests dividends, you will pay nearly 40% in taxes if Obama becomes president.

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

Inheritance Tax
Mccain – 0% (no change, Bush repealed this tax)

Obama – restore the inheritance tax

New Taxes Proposed By Obama
New government taxes proposed on homes that are more than 2,400 square feet. New gasoline taxes. New taxes on natural resources consumption(heating, gas, water, electricity). New taxes on retirement accounts. And new taxes to pay for socialized medicine, so we can receive the same level of medical care as other third-world countries!!

Verify above at following:

http://money.cnn.com/news/specials/election/2008/index.html

http://www.cnn.com/ELECTIONS/2008/issues/issues.taxes.html

http://elections.foxnews.com/?s=proposed+taxes

http://bulletin.aarp.org/yourworld/politics/articles/mccain_obama_different_visions_on_taxes.html

http;//blog.washingtonpost.com/fact-checker/candidates/barack_obama/

http://blog.washingtonpost.com/fact-checker/candidates/john_mccain/

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About Maxi

Hi … I'm Maxi, a retiree with an addiction. I have quit: raising kids, cleaning house, cooking, doing laundry—there is no end the list—everything is done on "have to." The addiction? Writing to my last breath. blessings ~ maxi
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