More reason to vote against Obama and for McCain - taxes

[bblight]

gleaned from another forum:




INTERESTING INFO & TAX COMPARISONS FOR 2009 -CHECK THIS OUT


A few points to remember and consider: You can verify the tax information at http://money.cnn.com/news/specials/election/2008/index.html, if you'd like.


(INTERESTING DATA JUST RECEIVED ON TAXES & PROPOSED CHANGES IN TAXES AFTER 2008 GENERAL ELECTION.)


Time to consider your pocketbook:

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 (find your bracket)
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 (reverse all 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MCCAIN 0% (No change, Bush repealed this tax)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, 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 BEING 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!!!



THE FOREGOING IS SOMETHING YOU SHOULD BE AWARE OF. . . IT SHOULD MAKE YOU THINK BEFORE YOU CAST YOUR VOTE IN NOVEMBER. IF YOU DON'T OWN ANYTHING NOW, CHANCES ARE YOU NEVER WILL BECAUSE TAXES ARE GOING TO GET IT ALL.

 

[Uno]

there is info out there that totally contradicts the income tax portion of your post. just because Obama repeals the bush tax cuts does not mean he will not make changes himself.

this, as usual with our fucked up two party system, is only half of the story.

 

[Willie99]

If BO really runs on the tax policies in the OP

forgetaboutit, we're looking at Reagen over Mondale 1984.

and if he believes such policies are the way to govern, he's a brain dead stupid fucking moron that shouldn't be elected as dog catcher. And I'm being serious.

 

[Coldweather]

You got this one correct again BB dog. Obama wants to take the money from the hard working republicans people and give it to liberals who fester on those give away programs. Obama give them money and they give him their votes. This here situation is not good and needs to stop. This is what I think about this here issue.

:toast:

 

[Uno]

BREAKING DOWN THE NUMBERS
Here's how the average tax bill could change in 2009 if either John McCain's or Barack Obama's tax proposals were fully in place.

MCCAIN OBAMA
Income Avg. tax bill Avg. tax bill
Over $2.9M -$269,364 +$701,885
$603K and up -$45,361 +$115,974
$227K-$603K -$7,871 +$12
$161K-$227K -$4,380 -$2,789
$112K-$161K -$2,614 -$2,204
$66K-$112K -$1,009 -$1,290
$38K-$66K -$319 -$1,042
$19K-$38K -$113 -$892
Under $19K -$19 -$567

 

[Willie99]

there is info out there that totally contradicts the income tax portion of your post. just because Obama repeals the bush tax cuts does not mean he will not make changes himself.

this, as usual with our fucked up two party system, is only half of the story.

repealing W's tax cuts will increase everybody's income tax burden, and the people that can least afford an increase will suffer the most. I've said that all along, the numbers support that position. Of course, I know that to be a stone cold fact to begin with.

 

[Romanowski]

youre a racist BB

 

[Willie99]

BREAKING DOWN THE NUMBERS
Here's how the average tax bill could change in 2009 if either John McCain's or Barack Obama's tax proposals were fully in place.

MCCAIN OBAMA
Income Avg. tax bill Avg. tax bill
Over $2.9M -$269,364 +$701,885
$603K and up -$45,361 +$115,974
$227K-$603K -$7,871 +$12
$161K-$227K -$4,380 -$2,789
$112K-$161K -$2,614 -$2,204
$66K-$112K -$1,009 -$1,290
$38K-$66K -$319 -$1,042
$19K-$38K -$113 -$892
Under $19K -$19 -$567

So he must be repealing W's tax cuts in order to implement his own tax cuts.

I like it

:money8::money8::money8::money8::money8::money8:

The more things change, the more I make

Sorry boys, I might have to vote for BO and hope the rest of you can survive for a few years.

 

[Dave007inVegas]

Well put BB. Some people just can't see the forest for the trees. Hope and change my ass. Death by taxes is more like it.

 

[JoeContrarian]

Since JFK, both Republicans and Democrats have adopted pro-growth economic policies.

Obama doesn't believe in pro-growth, he's for Euro-like "wealth redistribution" which will tank the economy and suck all the wealth out of this country into more competitive markets like India and China.

Look at Obama's proposed changes to the capital gains tax the effect it will have on the investor and entrepreneurial classes: the engine of this economy:

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.'

Exactly.

You'll get "change" alright -- as in barely enough to buy canned food only.

Are Obama supporters deaf, blind and stupid?

 

[919]

McCain's phenomenal grasp of economics

by smintheus

Sat Jul 26, 2008 at 06:00:28 PM PDT

His top economic adviser, Douglas Holtz-Eakin, now says that John McCain is an economic whiz (h/t VA Classical Liberal). I would never have guessed that.

Terry Gross: John McCain has said that the economy is not his strong point. That he doesn't know that much about the economy. Is that a fatal flaw for a president? Does it matter?
Douglas Holtz-Eakin: He has a phenomenal grasp of the economy and the remark he made is self-deprecating, that's John McCain in his truest form.
​

That was broadcast on July 24. On the same day Christopher Beam at Slate quoted Holtz-Eakin saying that McCain's comments on the stump about his own tax policies aren't always entirely accurate. At issue was a new study of McCain's proposals by the Tax Policy Center. It finds that McCain's public promises to voters cost two-thirds more over 10 years than the tax plan his economic advisers are providing to experts.

According to the study, the tax plan McCain’s campaign laid out privately is different from the one he’s selling on the stump. If you include the policies he has advocated publicly—such as repealing the Alternative Minimum Tax, increasing the dependent exemption to $7,000 right away, and reducing the corporate tax rate to 25 percent immediately—then the deficit after 10 years would actually be $2.8 trillion greater than if you go by his private plan. There’s also a rhetorical gap for Obama, but in his case the public version generates more revenue than the private one, thanks to a suggested hike in payroll taxes for people who make $250,000 or more. (Read the full study here [PDF].)
Douglas Holtz-Eakin, McCain’s chief economic adviser, says the numbers he provided to the TPC aren’t secret—they’re the same ones he provides to anyone who asks. He also disputes the way the study takes suggestions McCain has made on the stump out of context. "This is parsing words out of campaign appearances to an unreasonable degree," Holtz-Eakin said. "He has certainly I’m sure said things in town halls" that don’t jibe perfectly with his written plan. But that doesn’t mean it’s official.
​

Commenting on Holtz-Eakin's attempt to explain away the gap between the public rhetoric and the private assurances, B. Furnas points out that the details of McCain's tax plan are not in fact publicly available. So who really knows what McCain's tax plan is?
I can believe that voters shouldn't put too much faith in whatever McCain tells them about his own fiscal policies. But how do you square that with the claim that he has "a phenomenal grasp of the economy"? And didn't Holtz-Eakin insist just two weeks ago that McCain's advisers don't speak for him?

Senator McCain made it very clear that Senator McCain speaks for Senator McCain.

http://dailykos.com/storyonly/2008/7/26/14633/0748/948/557387
​

 

[JoeContrarian]

Since you don't ever add anything to the debate other than unwarranted, unprovoked personal attacks...

07-27-2008, 04:40 PM
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pullingtriggers

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Welcome to "Club Barnman."

 

[tiznow]

can't dodge taxes forever

eventually gonna have to pay for iraq and our current bailing out of the financial system

and the longer you wait the more interest that will pile up

 

[919]

Since you don't ever add anything to the debate other than unwarranted, unprovoked personal attacks...



Welcome to "Club Barnman."

Like anyone gives a fuck what you think, you lying piece of shit.

 

[JoeContrarian]

can't dodge taxes forever

eventually gonna have to pay for iraq and our current bailing out of the financial system

and the longer you wait the more interest that will pile up

C'mon tizdoom,you're just demagoguing and emoting -- no substance.

Obama's Marxist policies will plunge the economy into a deep depression. You know that, I know that.

Be an adult: when all is said and done hold your nose (if you must) and vote for John McCain.

 

[tiznow]

honestly mccain has a better shot of doing that near term IMO plus he's just as clueless as obama as far as understanding the economy

not really anything they can do other than bailout shit.....

he would take a more hands off approach vs. obama trying to socialize all the losses take an FDR like approach and possibly putting it off for another day

hoover a republican came in just prior to the last depression

got the boot in 32 for FDR

whoever gets in has his hands full that's all i know and both don't fully understand what they are getting themselves into yet.....

plus averting depression like situations are more of a confidence game than anything obama seems to give more people "hope" and draws a more emotional response from his supporters whether you agree with it or not

 

[tiznow]

joe i'd really like to hear a response about hoover concerning the great depression

think UE peaked right around the time he left office

might want take another look through that history book again

:tongue2:

 

[Romanowski]

all you need to know about the depression was its main cause was the dollar and british pound being tied to gold reserves

 

[tiznow]

haha romo steps in for joe

the price of gold was artificially fixed prior to the GD

vast amounts of credit were created during the roaring 20s, shoe shine boys were trading stocks, and everything was grand

and it all went boom

just quit it already hno:

come with something better please

 

[tiznow]

also just another point

under a TRUE gold standard a bank will never fail as it always has the gold reserves to meet depositor demands

now we can discuss how a true gold standard hampers credit and growth.....and i'm not for a hard core gold standard anyway

but fiat back by nothing is asking for trouble and boom and bust cycles which favor the elite and wealthy and screw over the J6P taxpayer

first step back in the right direction would be to allow gold and silver to float as legal tender as a competing currency

rather than being a collectable in its current state where you have to pay a high tax rate when you sell for profit