This is the bottom line....everything else they say is just hype....

Whether Democrat or Republican, you should know just what the candidates have in mind for our personal money.

Proposed changes in taxes after 2008 General election.
-----------------------------------------
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 [what we leave our family when we die]

MCCAIN - 0% - (No change, Bush repealed this tax)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!!!

Do you know the percent of visible light that each candidate supports for our nation's window tinters? (AKA visible light transmission)

Ah, the every four years refrain of "the Democrats are going to raise your taxes!" First of all, the notion that Republicans cut taxes is a bald faced lie. It is impossible to lower taxes while simultaneously raising spending. George Bush just put a bunch of shit on your credit card, lowered your minimum payment, and acted like he was doing you a favor. By the time you finally have to pay the bill he will be long gone, the amount will have grown dramatically, and you will blame the grown ups who finally had to deal with it.

Ignoring the fact that any of what the candidates say is just ideas and proposals that have to get through congress let me make a few points about the specific things you mentioned.

First, when you sell your home 500k (250k if single) of the capital gain is excluded from tax. And any improvements that you made over the years are also excluded. So, if you bought a house for 500k put 100k in improvements and sold it for $1.1 million you will pay no tax. If you sell it for $1.5 million you'll pay a little over 100k on your 900k gain. Cry me a river.

With respect to the inheritance tax, almost no one really pays this. At least no one with any brains does. A great deal is excluded to begin with 3.5 million in 2009. With smart estate planning using gifting, trusts, etc. you can leave quite a large estate and pay no tax. Now, I'm opposed to the estate tax anyway but mostly because it just makes lawyers and accountants richer than they need to be to work out all those tricks.

Dividend tax. Go look at your tax return--right now--and figure out how much you earned in dividends last year. Got it? I didn't think that was a problem.

Income tax. I agree this should be lower but you can only lower it by reducing spending. Otherwise you are only deferring the tax and running up a big interest bill in the meantime. Republicans are NOT fiscally conservative. They are just like the guy who runs for class president by promising to get rid of homework. Wise up.

I completely missed your little chart about income taxes. It's hard to believe you went through all the trouble to put this together and have zero understanding of marginal versus effective tax rates but I'm sure you wouldn't have done it this way just to be misleading. Right? Just to give you the benefit of the doubt...

Using bonehead's example of a single guy making 30k under the McCain plan. $4500 on 30k is 15%. This is his MARGINAL tax rate. That is, the amount he pays on his last dollar of earnings. In reality, this guy is paying much less than that. To find out his effective tax rate we subtract his personal exemption, deductions, etc. and come up with the actual amount he paid and divide that by the 30k. Go find your own personal return again and get the bottom line--the actual amount of tax you paid. Then divide that by your total income (including 401k contributions and any other income you had that is not taxable for some reason or another). This is your effective tax rate.

The BIG LIE has raised itself again. The fact is that the Republikan Party has increased our debt significantly during the past 8 years. Now perhaps you dont see this as a tax...and it isnt a traditional tax...and that's what Republicans hope you never realize...but our debt is an unpaid tax liability. Now we can continue to play the shell game and pass these unpaid taxes to our future generations...or we can start pulling our own weight. In either case we will be paying this unpaid tax through taxes...inflation....jobs...and our overall reduction in our standard of living. Oh yeah...we can do one other thing...just keep blaming the Mexicans.



Edited 1 time(s). Last edit at 03/27/2008 08:55AM by Vince(1).

This guy Tony is a real tool of the Republikan Party...just look at his closing comment. The fact is the US has one of costly and most ineffective health care systems of any industrialized country. There isnt an independent/credible study out the that wouldnt confirm this...here's one...find your own.

http://www.pnrec.org/2001papers/DaigneaultLajoie.pdf


So continue to believe the neer ending barage of lies the Republikan Party dishes out about wars...taxes...medical care or educate yourselves.

Someone plzzz move this crap to offtopic. Thank you!

Tony Wrote:
-------------------------------------------------------
> This is the bottom line....everything else they
> say is just hype....



Tony-

It is time for people like you to grow up. We are spending $12 billion a month in Iraq. We are financing it by getting ourselves deeper in debt to the Chinese and Saudis, which is contributing to the decaying dollar and less demand for U.S. Treasury Bonds. At the same time, the Administration (and unfortunately the Congress), keep cutting taxes and spending like drunken sailors.

It is time to get our fiscal house in order. It is time we start paying our bills again. This means YOU as well. It is your country, too. It is time to pay our debts. I, for one, believe it is unethical and immoral for the current generation of Americans to live high on the hog and then mortgage the futures of our children and grandchildren to pay for it.

Grow the fuck up and pay your fucking fair share and quit your whining, ass.

Isn't the funds we spend in Iraq come back to US anyways, atleast partially.

Most things we pay for are to US based contracts anyways...

Since most people don't have much concept of what a billion is, let's put it in perspective. 1 billion is one thousand million. So, when we spend 12 billion a month in Iraq that means that 1 million people need to come up with $12k to pay the bill. Over a year that's a bill of $12k for 12 million people. Over 5 years that $12k for 60 million people. But folks like Tony believe that Shrub and McCain are cutting your taxes. Neat, huh?

Excellent rebuttals! 100% Agreed.

It's amazing that there are actually people who still believe this hogwash. If the GOP weren't fully leveraged and faced margin calls on everything they touch, then we wouldn't have to come in and clean up the mess year after year. Thanks to these buffoons, the USA is now a wholly-owned subsidiary of China. -§

Good Ole Republican math. The GOP runs the government bankrupt and then in an election year move decides they will send everybody checks.

Typical Republicans plundering the governemt money.

Its great to see the liberal trailer trash puke their Marxist vitriol when confronted with the facts. What a bunch of ignoramus....Go Tony!

ericW Wrote:
-------------------------------------------------------
> Its great to see the liberal trailer trash puke
> their Marxist vitriol when confronted with the
> facts. What a bunch of ignoramus....Go Tony!

Christ, somebody got a word calendar for Christmas.

If you are asserting that complaints about irresponsible govt. spending are "Marxist vitriol", you are truly the most ignorant poster on this thread.

You're even dumber than the original poster. Congratulations.

ericW Wrote:
-------------------------------------------------------
> Its great to see the liberal trailer trash puke
> their Marxist vitriol when confronted with the
> facts. What a bunch of ignoramus....Go Tony!



Edited 1 time(s). Last edit at 03/27/2008 11:24AM by TheMeeper.

regardless of how much money the gov spends, i still like paying less money in taxes, even if it runs the county into debt.


"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."

Gravis Wrote:
-------------------------------------------------------
> regardless of how much money the gov spends, i
> still like paying less money in taxes, even if it
> runs the county into debt.


Perception. You'll end up paying more for crap because of an inflated dollar.

Kiev Wrote:
-------------------------------------------------------
> Isn't the funds we spend in Iraq come back to US
> anyways, atleast partially.
>
> Most things we pay for are to US based contracts
> anyways...


It goes to KBR and Halliburton and Bechtel who hire foreign workers and who offshore the profits to avoid U.S. taxes. So, no.

ericW Wrote:
-------------------------------------------------------
> Its great to see the liberal trailer trash puke
> their Marxist vitriol when confronted with the
> facts. What a bunch of ignoramus....Go Tony!


If fiscal responsibility is now Marxism, this country is in trouble.

Gravis Wrote:
-------------------------------------------------------
> regardless of how much money the gov spends, i
> still like paying less money in taxes, even if it
> runs the county into debt.

Our high debt is contributing to the weak dollar. The weak dollar is contributing to soaring gas prices (oil is traded in dollars. As the dollar gets weaker, oil prices go up). You are paying for your tax break...and more...every time you fill the tank.

Tony Wrote:
-------------------------------------------------------
> This is the bottom line....everything else they
> say is just hype....
>

You forgot one.

Most likely to die of natural causes (old age, heart condition, skin cancer, etc.) before finishing out their term:

McCain - 95%
Obama - 5%
Clinton - 5%

I would bet money in a few months this same original poster will be posting an email that says "Due to high expected turnout, Republicans and Independants vote on Tuesday and Democrats vote on Wednesday"

I am often accused of being paranoid on here...but I truly believe this is all a part of a very sucessful Republikan agenda. There is no greater desire by the Republikan Party then to get the federal government out of funding anything but the national defense. As they continually hype their 100 years of war (we have already been at a constant state of war since the end of WWII-over 60 years) that is all we will be able to fund without major tax increases...which will be impossible to sell to the American public. Score another win for the Republikans!

If you feel the need to change this course of history...you need to vote...in November and now with your wallet. Donate to the Demopcrat Party....your fav candidates....3rd party activist groups like MoveOn.COM....but vote! And then keep the pressure on to reduce our military expences and commitments overseas.

Vince(1) Wrote:
-------------------------------------------------------
> I am often accused of being paranoid on here...but
> I truly believe this is all a part of [...]


"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."

56% of statistics are made up on the spot

Vince(1) Wrote:
-------------------------------------------------------
> I am often accused of being paranoid on here...but
> I truly believe this is all a part of a very
> sucessful Republikan agenda. There is no greater
> desire by the Republikan Party then to get the
> federal government out of funding anything but the
> national defense. As they continually hype their
> 100 years of war (we have already been at a
> constant state of war since the end of WWII-over
> 60 years) that is all we will be able to fund
> without major tax increases...which will be
> impossible to sell to the American public. Score
> another win for the Republikans!
>
> If you feel the need to change this course of
> history...you need to vote...in November and now
> with your wallet. Donate to the Demopcrat
> Party....your fav candidates....3rd party activist
> groups like MoveOn.COM....but vote! And then keep
> the pressure on to reduce our military expences
> and commitments overseas.


You're stupid.

KeepOnTruckin Wrote:
-------------------------------------------------------
> 56% of statistics are made up on the spot

I think its 57%

good breakdown.

Keep Politics out