10 Things You Need to Know About Senator Obama’s Tax Proposals
Under the tax plans of Barack Obama and his Democratic friends in Congress, American families will only be left with… the change in their pockets.
In 2009, Barack Obama and the Democratic Congress have an idea for a bill. Well, really, it’s a lot of bills that will be paid for by nearly every American in the form of higher taxes and higher costs for food, energy and other products.
So if you have a retirement account, work in or shop at a small business, are close or in retirement, or even flip on a light switch, then there are a few things that you should consider.
Under that plan:
But don’t just take our word for it.
Be a geek. Click Here. Learn More.
Citations
http://rightchange.com/issue_tax1.php
Under the tax plans of Barack Obama and his Democratic friends in Congress, American families will only be left with… the change in their pockets.
In 2009, Barack Obama and the Democratic Congress have an idea for a bill. Well, really, it’s a lot of bills that will be paid for by nearly every American in the form of higher taxes and higher costs for food, energy and other products.
So if you have a retirement account, work in or shop at a small business, are close or in retirement, or even flip on a light switch, then there are a few things that you should consider.
Under that plan:
- Small main street businesses would be forced to pay tax rates as high as 62.3% under Senator Obama’s tax proposals.<sup>1</sup>
- Senator Obama’s tax plan would tax small businesses at a higher rate than Wal-Mart!<sup>2</sup>
- Taxes on retirement income and savings could increase by at least 33%, hitting millions of seniors when they need these resources the most.<sup>3</sup>
- 4 million workers over the age of 50 – those eagerly looking forward to retirement – would be hit with increased tax bills. <sup>4</sup>
- Millions of Americans would only keep 38 cents of every dollar that they earn.<sup>5</sup>
- Senator Obama’s tax plan would reduce the after tax wages of millions of workers by 17.7%.<sup>6</sup>
- It will take 227 days per year, nearly 8 months, just to pay your tax bill!<sup>7</sup>
- 97,065 carpenters, 110,908 police officers, 254,992 nurses, 208,562 postsecondary teachers and 237,000 dentists would see tax increases, if the earnings cap was successfully eliminated.<sup>8</sup>
- 10.3 million workers would see an average of $5,650 taken from their paycheck and given to government programs.<sup>9</sup>
- Even YOU might be considered “Rich.”
But don’t just take our word for it.
Be a geek. Click Here. Learn More.
Citations
http://rightchange.com/issue_tax1.php
