Obama and Clinton Tax Reform Details
I don’t know if this email about the Obama and Clinton Tax Reform Details is true or not, I just thought I’d pass it along for everyone to read their self.
Proposed changes in taxes after 2008 General election:
Can you afford Clinton or Obama? I can’t!
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.
MCCAIN
15% (no change)
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.”
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.
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(No change, Bush repealed this tax)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 T AXES 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!!!
