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Proposed changes in taxes after 2008 General election
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 haa 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.ha
hahaha
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 ha
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 haha
Married making 60K - tax $16,800
Married making 75K - tax $21,000 haha
Married making 125K - tax $38,750 ha
ha
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 haha
Married making 60K - tax $16,800
Married making 75K - tax $21,000 haha
Married making 125K - tax $38,750 haha
How does this affect you? No explanation needed. This is pretty straight forward.ha
INHERITANCE TAX
MCCAIN
0%
(No change, Bush repealed this tax)
OBAMA
keep the inheritance tax
CLINTON
keep the inheritance tax
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