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Tax plans: Obama vs. McCain
Family income: up to $18,981: McCain gives $19 dollars in tax cuts, Obama gives $567 in tax cuts. Family income: $18,892 to $37,595: McCain $113, Obama $892. Family income: $37,596 to $66,354: McCain $319, Obama $1,042 Des Moines Register, Sunday, October 26, 2008, page 1AA According to the US Census Bureau in 2007 the median household income was roughly $50,740. This means that under McCain the majority of Americans aren’t going to get the tax relief we need to help pay for the things we need such as heating fuel, electricity, food and gas. I’m voting for Obama for many reasons, but a major reason is that my husband I will get $1,042 in tax cuts from Obama and only $319 from McCain, which doesn’t even pay for one month of groceries. http://www.census.gov/prod/2008pubs/acs-09.pdf See also: FACT CHECK: McCain persists in exaggerations and misrepresenting rival Barack Obama's tax and health-care plans. http://www.washingtonpost.com/wp-dyn/content/article/20...AR2008102701800.html Rosa sat, so Martin could walk. Martin walked, so Obama could run. Obama is running, so our children can fly. -Ed Welch, quoting a text message from a friend, on NPR's All Things Considered, 10/28/08 |
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Free Time |
Obama-Biden Tax Calculator
Barack Obama and Joe Biden will cut taxes for 95% of working families, and provide at least three times as much tax relief for middle class families as John McCain and Sarah Palin. The Obama/Biden plan provides $1,000 of tax relief for workers and new tax benefits to help families pay for college, childcare and save for retirement. http://taxcut.barackobama.com/ Enter income and calculate your tax cut. Rosa sat, so Martin could walk. Martin walked, so Obama could run. Obama is running, so our children can fly. -Ed Welch, quoting a text message from a friend, on NPR's All Things Considered, 10/28/08 |
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Free Time |
Fact Check: Palin's Alaska spreads its wealth
http://ap.google.com/article/ALeqM5hgSOF08EZJrEAB34f2kJkANBWguAD9458NJO0 For Incomes Below $100,000, a Better Tax Break in Obama’s Plan http://www.nytimes.com/2008/10/31/us/politics/31taxes.html?ref=us Rosa sat, so Martin could walk. Martin walked, so Obama could run. Obama is running, so our children can fly. -Ed Welch, quoting a text message from a friend, on NPR's All Things Considered, 10/28/08 |
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Newcomer |
It seems pretty clear to me!
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 sale will go to taxes. This proposal will adversely affect the elderly who are counting on 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 money invested in stock market, IRA, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends, you will be paying nearly 40% of the money earned on taxes if Obama becomes 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) Income Tax Single, 30K $ 4,500 Single, 50K $12,500 Single, 75K $18,750 Married, 60K $ 9,000 Married, 75K $18,750 Married, 125K $31,250 OBAMA (reversion to pre-Bush tax cuts) Single, 30K $ 8,400 Single, 50K $14,000 Single, 75K $23,250 Married, 60K $16,800 Married, 75K $21,000 Married, 125K $38,750 Under Obama, your taxes could almost double! INHERITANCE TAX McCAIN - 0% (No change, Bush repealed this tax) OBAMA Restore the inheritance tax Many families lost businesses, farms, 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 lose them to these taxes. NEW TAXES PROPOSED BY OBAMA New government taxes proposed on homes more than 2,400 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!!! |
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Free Time |
Where did you get your numbers? What are your sources?
Rosa sat, so Martin could walk. Martin walked, so Obama could run. Obama is running, so our children can fly. -Ed Welch, quoting a text message from a friend, on NPR's All Things Considered, 10/28/08 |
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Free Time |
In regards to Capital Gains Tax:
Obama would increase maximum capital gains rate for couples making more than $250,000 or individuals making more than $200,000 from 15% to 20%. http://www.freep.com/article/20081102/OPINION01/811020360?imw=Y Rosa sat, so Martin could walk. Martin walked, so Obama could run. Obama is running, so our children can fly. -Ed Welch, quoting a text message from a friend, on NPR's All Things Considered, 10/28/08 |
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Obama plan: $80B in tax relief
http://www.usatoday.com/news/politics/election2008/2007...obama-tax-plan_N.htm Illinois Sen. Barack Obama: About $80 billion in tax breaks mainly for low-income workers and the elderly, including tax credit worth up to $500 a person to offset payroll taxes and elimination of tax-filing requirement for older workers making under $50,000. A mortgage-interest credit could be used by lower-income homeowners who do not take the mortgage interest deduction because they do not itemize their taxes. Raise corporate taxes and the top rate on capital gains and dividends to pay for the cuts. Rosa sat, so Martin could walk. Martin walked, so Obama could run. Obama is running, so our children can fly. -Ed Welch, quoting a text message from a friend, on NPR's All Things Considered, 10/28/08 |
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Educated |
I am amazed that anyone in the Party that gave us George Bush even has the nerve to talk about anything related to government fiscal responsibility.
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Old Pro |
Obama's Infomercial (VIDEO)
Have you crunched numbers on the Obama-Biden Tax Calculator yet? Another brief message from Barack. |
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Member |
THANKS Jeff!!! that brief message from Obama was wonderful!!! Sarah Palin was the demise of John Mc Cains dream!!! even Colin Powell ( a Republican) and 39 year friend of Mc Cains, admitted Sarah Palin was the deciding factor when he chose to endorse OBAMA instead. I think that speaks volumes!!! soon after the RNC, the honeymoon for Sarah started to coming to an abrupt end!!! she needs to head back to Alaska and take care of family business there instead!!!
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