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(No change, Bush repealed this tax)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< BR>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!!!