Interesting Data Just Received on Taxes [under Obama vs McCain]

e-mail | 8/31/8 | allegeldy Robert D. Jenkins, Wachovia

[Clint Williams]

The following is circulating via e-mail. I have NO IDEA whether it's true though my experience of tax&spend libs says at least it could be true. It's pretty much what I would expect from such.

This is something you should be aware of so you don't get blind-sided. This is really going to catch a lot of families off guard. It should make you worry.

Proposed changes in taxes after 2008 General election:

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 4 0% of the money earned on taxes if Obama become 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 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MCCAIN 0% (No change, Bush repealed this tax)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 and 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 not 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!!!

Thank You
Robert D. Jenkins
Vice President - Investments
Chartered Retirement Planning Counselor
Wachovia Securities, LLC

[rabscuttle385]

Wachovia Securities, LLC

I seem to remember some sort of legal raid on their offices in STL a short while ago.

[Archon of the East]

Who cares if its really true. It fits the Narrative!..LOL

[TommyJoe]

Yeah, this was also posted on the other forum that i visit about three weeks ago.

[Sister_T]

Interesting.

[agooga]

So how does this square with the Obama “middle-class tax cut” email and website that’s going around?

This is what I received from my moonbat friend a few days ago:

“http://alchemytoday.com/obamataxcut/

Barack Obama will cut taxes for over 95% of American families, even though more than half of American think he’ll raise their taxes.

Go to this site to see how much you’ll save.

Send your tax-hating republican friends there and let ‘em know how much a McCain vote will cost them.”

[Signalman]

http://www.snopes.com/politics/obama/taxes.asp

[GiovannaNicoletta]

bookmark

[OrioleFan]

Is this applied before or after he repeals the Bush tax cuts?

[scooby321]

why do you think Buffet supports Democrats? He steals companies after the founder’s children have to sell it for taxes.

[BobbyT]

Regardless of the exact rates, Obama has supported nearly every tax increase proposed and never favored any reduction (American Taxpayers Union rating of his voting record is 96% anti).

In his own words, he wants to "just tax the heck out of people at the end and just redistribute it. That way you’re not impeding efficiency, and you’re achieving equity on the back end."

I'm amazed there haven't been any McCain ads using that phrase for any who actually believe Obama will do anything but confiscate every dollar he can from those who work for a living (as opposed to those who know full well but argue otherwise to deceive the voters they know better than).

National Review link quoting him

[ken21]

take a look at the article on the history of the democrats and republicans and the economy in today’s nyt.

[sourcery]

Note: The slogan was originally posted to FR by Renfield. Islander7 created the graphic. I've merely taken the initiative in publicizing it. It's so good, it may well be the "Sore/Loserman" of the 2008 election.

[skinkinthegrass]

that is (very) interesting....it seems to debuke the thread.
...unfounded rumors (like this one) can tarnish, real issues in this election,
all freepers must be (very) careful.

[skinkinthegrass]

In his own words, he wants to "just tax the heck out of people at the end and just redistribute it. That way you’re not impeding efficiency, and you’re achieving equity on the back end."....
that a "great pull" quote, this is the quote, that should be e-mail all over America..

[arthurus]

After. and before it takes effect he will study the matter and discover he can’t do it.

[BobbyT]

I agree; the link was actually posted by a Freeper a few days ago and I just left the tab open in my browser.

I’m amazed it hasn’t spread like wildfire. And I *really* think it needs to be in TV ads to wake people up. There’s no “change” coming, just more tired old socialist controls.

[ADSUM]

Don’t believe it!

Democrats will promise the moon, but they do not deliver. They want to redistribute it to the non producers just like the unions and so they can scam some off the top.

Expect your taxes to go up.

Most lower income households pay little income tax.

The top 25% of taxable incomes are paying approximately 70-80% of the income taxes.

[keyser_sose]

my God-tax on home sales? what a disaster this guy is.

[ADSUM]

Snopes is putting it’s own spin and may not be impartial.
Snopes takes the position that when temporary tax cuts end, it is not a tax increase. The tax cuts were intended to be permanent, but the democrats required them to be temporary and have a sunset date.

Part of the problem is Obama has not been specific in outlining his tax proposals. But if he gets to spend what he wants, expect mucher higher taxes on everyone.