As much as I’m not a big fan of either of these guys (we’re pretty much screwed either way), here’s a little bit of where they stand:
CAPITAL GAINS TAX
MCCAIN
0% on home sales up to $500,000 per home (couples).
McCain does not propose any change in the 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 in 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 the stock market, IRAs, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends – you will now be paying nearly 40% in taxes on the money you earned, if Obama becomes president.
Experts predict that higher tax rates on dividends and capital gains would crash the stock market, while doing absolutely nothing to cut the deficit.
INCOME TAX
MCCAIN (no changes)
Single making 30K – est. tax $4,500
Single making 50K – est. tax $12,500
Single making 75K – est. tax $18,750
Married making 60K- est. tax $9,000
Married making 75K – est. tax $18,750
Married making 125K – est. tax $31,250
OBAMA
(reversion to pre-Bush tax cuts)
Single making 30K – est. tax $8,400
Single making 50K – est. tax $14,000
Single making 75K – est. tax $23,250
Married making 60K – est. tax $16,800
Married making 75K – est. tax $21,000
Married making 125K – est. tax $38,750
Under Obama, your income 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MCCAIN – 0% (No change – Bush repealed this tax)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. What you leave your loved ones in your will, they will lose 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 wasnʼt 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! (i.e. – waiting in long lines for major surgeries, drop in the quality of healthcare providers, etc)
I personally don’t relish this (and other Obama proposed) kind of change.
Obama is an out-and-out socialist liberal who will seemingly say whatever he wants about whatever he wants whenever he wants, forget what he said before and say something contrary to what he said/platformed … and evidently it doesn’t much matter to the giddy, liberal school-girl media when he actually does talk about strong policy issues, he contradicts himself.
McCain – man, this guy is a moderate liberal in a conservative mask. Now, whereas he is much, much, much more conservative than Obama, he has still not had a strong conservative policy and belief political career … AND, he has not been jumping on obvious opportunities lately to rally the conservative base around and for him. That’s been disappointing. He has had some major softballs thrown his way to point out Obama’s shortcomings and contradictions; to really make a stand on certain issues that conservatives would rally to, and he’s just let them slide by with his little niceties. Right now he will probably be receiving my reluctant vote b/c he is the candidate more closely aligned with my viewpoints and beliefs … but I still have no clue how he got the nomination – that just baffles me.
For me, Obama is just WAY too much of a socialist liberal, who doesn’t share many of my views and beliefs, to get my vote. Unless there is some sort of Damascus Road experience between now and November, I don’t see my vote going to him.
Now, don’t you liberal race activist lurkers go trying to make this (meaning mine) and this (meaning overall) election be about Obama’s black heritage and drag this country backwards 40 years. I’ve been wanting to get J.C. Watts on the ticket for years now. He’s on the ticket … I’m trying to figure out how I can vote multiple times for the man! (for those of you who don’t know about joking, that was a joke. that was a funny, meant to provide more strength to the previous sentence. I would not look for a way to scam the system. Take a joke.)
It is much harder to lie and spin b/c you have to remember, remember, remember … and not just from last week – you’ve got to remember last 6mo., 1, 2, 5, 8 years back as well, and not just use the excuse, “Oh, I changed my mind on that stance.” That doesn’t cut it. That’s not just a jab at liberals either – that goes for any moron who feels they need to lie their way to some form or level of power instead of developing a belief, position or stance and promoting/defending it with truth, fact and/or faith … I think that’s something more along the line of integrity.
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