Join the discussion below, or Read more at WLTX Columbia.
#82 Oct 28, 2008
This is something you should be aware of so you don't get blind-sided. This is really going to catch a lot of families off guard. It should make you worry.
Proposed changes in taxes after 2008 General election:
CAPITAL GAINS TAX
0% on home sales up to $500,000 per home (couples) McCain does not propose
any change in existing home sales income tax.
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 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)
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 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
(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
Under Obama your taxes will more than double! How does this affect you?
No explanation needed. This is pretty straight forward.
MCCAIN 0%(No change, Bush repealed this tax)
OBAMA Restore 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 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!!!
#83 Oct 28, 2008
Our own sources for the following are Obama's own Web site and other statements, interviews with Obama's policy advisers, and a comprehensive analysis of both the McCain and Obama tax plans produced by the Urban-Brookings Tax Policy Center, plus additional sources to which we have provided links.Home Sales: The claim that Obama would impose a 28 percent tax on the profit from "all home sales" is false. Both Obama and McCain would continue to exempt the first $250,000 of gain from the sale of a primary residence ($500,000 for a married couple filing jointly) which results in zero tax on all but a very few home sales.
• Capital Gains Rate: It's untrue that Obama is proposing a 28 percent capital gains tax rate. He said in an interview on CNBC that he favors raising the top rate on capital gains from its present 15 percent to 20 percent or more, but no higher than 28 percent. And as for a 28 percent rate, he added, "my guess would be it would be significantly lower than that." Furthermore, he has said only couples making $250,000 or more (or, his policy advisers tell us, singles making more than $200,000) would pay the higher capital gains rate. That means the large majority of persons who pay capital gains taxes would see no increase at all.
• Tax on Dividends: Another false claim is that Obama proposes to raise the tax rate on dividends to 39.6 percent. Dividends currently are taxed at a top rate of 15 percent, and Obama would raise that to the same rate as he would tax capital gains, somewhere between 20 percent and 28 percent but likely "significantly" lower than 28 percent. This higher tax also would fall only on couples making $250,000 or more or singles making more than $200,000.
• Taxing IRAs and 529s: Contrary to the claim in this e-mail, raising tax rates on capital gains or dividends would not result in higher taxes on any investments held in Individual Retirement Accounts or in popular, tax-deferred "college funds" under section 529 of the Internal Revenue Code. The whole point of such tax-deferred plans is that dividends and capital gains are allowed to accumulate and compound tax-free, and neither Obama nor McCain proposes to change that. And as previously mentioned, any capital gains or dividend income from stocks, bonds or mutual funds owned outside of tax-deferred accounts would continue to be taxed at current rates except for couples making over $250,000, or singles making more than $200,000.
• Doubled Taxes? The claim that "Under Obama your taxes will more than double!" is also false.
• Estate Tax. The claim that Obama proposes to "restore the inheritance tax" is also false, as are the claims that McCain would impose zero tax and that Bush "repealed" it. McCain and Obama both would retain a reduced version of the estate tax, as it is correctly called, though McCain would reduce it by more.
The tax now falls only on estates valued at more than $2 million (effectively $4 million for couples able to set up the required legal and financial arrangements). It reaches a maximum rate of 45 percent on amounts more than that. It was not repealed, but it is set to expire temporarily in 2010, then return in 2011, when it would apply to estates valued at more than $1 million ($2 million for couples), with the maximum rate rising to 55 percent.
Obama has proposed to apply the tax only to estates valued at more than $3.5 million ($7 million for couples), holding the maximum rate at 45 percent. McCain would apply it to estates worth more than $5 million ($10 million for couples), with a maximum rate of 15 percent.
#85 Oct 28, 2008
Why don't you post this on an appropriate thread? It has nothing to do with the subject on this thread.
#86 Oct 28, 2008
No thanks! I don't want the animal killer for vice president!
#87 Oct 29, 2008
The schools have been pushing drugs on the kids at a very early age so everyone can sit still and conform.The consequences are being felt.Just recently the courts said schools are not allowed to force parents to drug their kids,but they still suggest it.Matter of fact if you drug your kids they will give you a monthly check from the federal government,ssi.Read the labels on the drugs they pass out like candy and you will see why our country is full of this kind of behavior.It is usually weeks after the fact,you will read the person was being treated for depression.Those drugs usually follow one the made up disorders they label our kids with daily.ADD Adhd,oppositional defiance.
#88 Nov 6, 2008
Oh, yes? Well, if you will look back over the history of MOST of the cases where children have killed their parents, the factor of chores is almost always included in the reasons for the killing. Child slaves cannot get a divorce, go live somewhere else, or escape in any way BUT that.
Really, I don't have any sympathy for the parents in these cases(where the child was a slave for them). My sympathy is with the child who will end up SOB who was using him for slave labor. If there was a law to protect him from this, all he would have to do is call child protective services. The parents would be alive(although hopefully fined or otherwise punished) and the child would not end up in prison.
“Lets take America Back!”
Since: Apr 07
#89 Nov 6, 2008
lol...actually your parents need to drop you off at the local orphanage and be on their way.
#90 Nov 6, 2008
either that, or they can drive her asss to Nebraska.
#91 Nov 6, 2008
WWhy don't you read the whole post, you dolt? I told you I am almost 60 years old. My father died and went to hell ten years ago, and my mother is in her middle eighties. I am about to put her into the WORST nursing home I can find.
#92 Nov 6, 2008
I am going to tell them she has alzheimers and wanders so they will strap her down to the bed for the rest of her life.
#93 Dec 26, 2010
Add your comments below
|Truck's 'racist' Confederate flag offends woman...||5 hr||5 reasons I'm Off...||7|
|Beaufort Co. Sues MERS for Fraud, Filing False ...||10 hr||MortgageFraud||10|
|South Carolina massacre 'demonic,' Baptist past...||14 hr||Catholic24||3|
|Auto Money Title Loans Violating SC State Law (Sep '12)||Fri||brittanytophat||41|
|Nickey Haley and the roads of South Carolina, w...||Jul 29||isaac||2|
|In new White House bid, Clinton embraces race a...||Jul 28||Le Jimbo||101|
|Hillary Clinton praises response to church shoo...||Jul 28||MBKornblatt||1|
Find what you want!
Search Columbia Forum Now
Copyright © 2015 Topix LLC