CAPITAL GAINS
TAX
MCCAIN
15% (no change)
OBAMA
28%
CLINTON
24%
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%
CLINTON
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 or Clinton 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
CLINTON
(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
How does this
affect you? No explanation needed. This is pretty straight
forward.
INHERITANCE
TAX
MCCAIN
0%
(No change, Bush
repealed this tax)
OBAMA
keep the
inheritance tax
CLINTON
keep 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 BOTH CLINTON AND 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!!!
Can you afford
Clinton or Obama? I can't!!!!!
(in case you want more information on Obama's tax and spend
agenda:
If Sen. Barack Obama (D-IL)
Could Enact All Of His Campaign Proposals, Taxpayers Would
Be Faced With Financing $874.35 Billion In New Spending Over
One White House Term:
Updated
February 14, 2008:
Obama's National Infrastructure Reinvestment Bank Will Cost
$60 Billion Over Ten Years; Equal To $6 Billion A Year And
$24 Billion Over Four Years. Obama: "I'm proposing a
National Infrastructure Reinvestment Bank that will invest
$60 billion over ten years." (Sen. Barack Obama, Remarks On
Economic Policy, Janesville, WI, 2/13/08)
Obama's Health Care Plan Will Cost Up To $65 Billion A Year;
Equal To $260 Billion Over Four Years. "[Obama] campaign
officials estimated that the net cost of the plan to the
federal government would be $50 billion to $65 billion a
year, when fully phased in, and said the revenues from
rolling back the tax cuts were enough to cover it." (Robin
Toner and Patrick Healy, "Obama Calls For Wider And Less
Costly Health Care Coverage,"
The New York Times,
5/30/07)
Obama's Energy Plan Will Cost $150 Billion Over 10 Years,
Equal To $15 Billion Annually And $60 Billion Over Four
Years. "Obama will invest $150 billion over 10 years to
advance the next generation of biofuels and fuel
infrastructure, accelerate the commercialization of plug-in
hybrids, promote development of commercial-scale renewable
energy, invest in low-emissions coal plants, and begin the
transition to a new digital electricity grid." (Obama For
America, "The Blueprint For Change,"
www.barackobama.com,
Accessed 1/14/08, p. 25)
Obama's Tax Plan Will Cost Approximately $85 Billion A Year;
Equal To $340 Billion Over Four Years. "[Obama's] proposed
tax cuts and credits, aimed at workers earning $50,000 or
less per year, would cost the Treasury an estimated $85
billion annually." (Margaret Talev, "Obama Proposes Tax Code
Overhaul To Help The Poor,"
McClatchy Newspapers,
9/19/07)
-
Obama's Plan
Would Raise Taxes On Capital Gains And Dividends, And On
Carried Interest. Obama's tax plan includes: "[i]ncreasing
the highest bracket for capital gains and dividends and
closing the carried interest loophole." (Obama For America,
"Barack Obama: Tax Fairness For The Middle Class," Fact
Sheet,
www.barackobama.com,
Accessed 1/8/08)
Obama's Economic Stimulus
Package Will Cost $75 Billion. "Barack Obama's economic plan
will inject $75 billion of stimulus into the economy by
getting money in the form of tax cuts and direct spending
directly to the people who need it most." (Obama For
America, "Barack Obama's Plan To Stimulate The Economy,"
Fact Sheet,
www.barackobama.com,
1/13/08)
Obama's Early Education And K-12 Package Will Cost $18
Billion A Year; Equal To $72 Billion Over Four Years. "Barack
Obama's early education and K-12 plan package costs about
$18 billion per year." (Obama For America, "Barack Obama's
Plan For Lifetime Success Through Education," Fact Sheet,
www.barackobama.com,
11/20/07, p. 15)
Obama's National Service Plan Will Cost $3.5 Billion A Year;
Equal To $14 Billion Over Four Years. "Barack Obama's
national service plan will cost about $3.5 billion per year
when it is fully implemented." (Obama For America, "Helping
All Americans Serve Their Country: Barack Obama's Plan For
Universal Voluntary Citizen Service," Fact Sheet,
www.barackobama.com,
12/5/07)
Obama
Will Increase Our Foreign Assistance Funding By $25 Billion.
"Obama will embrace the Millennium Development Goal of
cutting extreme poverty around the world in half by 2015,
and he will double our foreign assistance to $50 billion to
achieve that goal." (Obama For America, "The Blueprint For
Change,"
www.barackobama.com,
Accessed 1/14/08, p. 53)
Obama
Will Provide $2 Billion To Aid Iraqi Refugees. "He will
provide at least $2 billion to expand services to Iraqi
refugees in neighboring countries, and ensure that Iraqis
inside their own country can find a safe-haven." (Obama For
America, "The Blueprint For Change,"
www.barackobama.com,
Accessed 1/14/08, p. 51)
Obama
Will Provide $1.5 Billion To Help States Adopt Paid-Leave
Systems. "As president, Obama will initiate a strategy to
encourage all 50 states to adopt paid-leave systems. Obama
will provide a $1.5 billion fund to assist states with
start-up costs and to help states offset the costs for
employees and employers." (Obama For America, "The Blueprint
For Change,"
www.barackobama.com,
Accessed 1/14/08, p. 15)
Obama
Will Provide $1 Billion Over 5 Years For Transitional Jobs
And Career Pathway Programs, Equal To $200 Million A Year
And $800 Million Over Four Years. "Obama will invest $1
billion over five years in transitional jobs and career
pathway programs that implement proven methods of helping
low-income Americans succeed in the workforce." (Obama For
America, "The Blueprint For Change,"
www.barackobama.com,
Accessed 1/14/08, p. 42)
Obama
Will Provide $50 Million To Jump-Start The Creation Of An
IAEA-Controlled Nuclear Fuel Bank. Obama: "We must also stop
the spread of nuclear weapons technology and ensure that
countries cannot build -- or come to the brink of building
-- a weapons program under the auspices of developing
peaceful nuclear power. That is why my administration will
immediately provide $50 million to jump-start the creation
of an International Atomic Energy Agency-controlled nuclear
fuel bank and work to update the Nuclear Nonproliferation
Treaty." (Sen. Barack Obama, "Renewing American Leadership,"
Foreign Affairs,
7-8/07
TT
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