Could the fact that we hold similar opinions may in fact be an indicator of how out of touch the current parties are with the American mainstream?
Having just paid the IRS yet again, I pondered how it is our candidates hope to support future projects. Mind you I'm not entirely against additional tax increases if they are to help diminish our debt or fund viable projects. I post this summation here to show the current candidates plans. The notion that they will only tax the "rich" is ridiculous. I can't believe people actually buy into this....
Comparison of proposed taxes under McCain, Obama, and Hillary
CAPITAL GAINS TAX
MCCAIN 15% (no change)
OBAMA 28%
HILLARY 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. Obama/Clinton's proposals will adversely affect Seniors who are counting on the income from their homes as part of their retirement income.
DIVIDEND TAX
MCCAIN 15% (no change)
OBAMA 39.6%
HILLARY 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 in taxes if Obama or Clinton become president. Many experts predict that Obama/Clinton higher tax rates on dividends and capital gains will crash the stock market yet do absolutely nothing to cut the deficit."
INCOME TAX
MCCAIN (no changes)
These are the current rates:
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 (revert to pre-Bush tax cuts)
These are Obama's Rates:
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
HILLARY (revert to pre-Bush tax cuts)
These are Hillary's Rates:
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.
INHERITANCE TAX
MCCAIN 0% OBAMA 55%*
HILLARY 55%*
How does this affect you? Many families will lose businesses, farms and ranches, and homes that have been in their families for generations because they will not be able to afford the inheritance tax.
Leaving a farm or small business to your children? They will have to sell it in order to pay the taxes.
Is that fair?
*The tax rate after a $1 Million exemption will be 55%.
NEW TAXES BEING PROPOSED BY BOTH HILLARY 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.
Having just paid the IRS yet again, I pondered how it is our candidates hope to support future projects. Mind you I'm not entirely against additional tax increases if they are to help diminish our debt or fund viable projects. I post this summation here to show the current candidates plans. The notion that they will only tax the "rich" is ridiculous. I can't believe people actually buy into this....
Comparison of proposed taxes under McCain, Obama, and Hillary
CAPITAL GAINS TAX
MCCAIN 15% (no change)
OBAMA 28%
HILLARY 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. Obama/Clinton's proposals will adversely affect Seniors who are counting on the income from their homes as part of their retirement income.
DIVIDEND TAX
MCCAIN 15% (no change)
OBAMA 39.6%
HILLARY 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 in taxes if Obama or Clinton become president. Many experts predict that Obama/Clinton higher tax rates on dividends and capital gains will crash the stock market yet do absolutely nothing to cut the deficit."
INCOME TAX
MCCAIN (no changes)
These are the current rates:
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 (revert to pre-Bush tax cuts)
These are Obama's Rates:
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
HILLARY (revert to pre-Bush tax cuts)
These are Hillary's Rates:
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.
INHERITANCE TAX
MCCAIN 0% OBAMA 55%*
HILLARY 55%*
How does this affect you? Many families will lose businesses, farms and ranches, and homes that have been in their families for generations because they will not be able to afford the inheritance tax.
Leaving a farm or small business to your children? They will have to sell it in order to pay the taxes.
Is that fair?
*The tax rate after a $1 Million exemption will be 55%.
NEW TAXES BEING PROPOSED BY BOTH HILLARY 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.
Eric Mayer
2013 MB G63
2012 Audi R8 GT #232
2011 GT3 RS
1988 928 S4
1988 MB 560SL
2014 MB GL 550
2013 MB G63
2012 Audi R8 GT #232
2011 GT3 RS
1988 928 S4
1988 MB 560SL
2014 MB GL 550