Monday, November 3, 2008

quick talking points summary...

A Nice pretty Table....click below....



Issues
IssueMcCainObama
Favors new drilling offshore US....
YesNo
Will appoint judges who interpret the law not make it..
YesNo
Served in the US Armed Forces....
YesNo
Amount of time served in the US Senate..
22 years173 days
Will institute a socialized national healthcare plan...
NoYes
Supports abortion throughout the pregnancy...
NoYes
Would pull troops out of Iraq immediately...
NoYes
Supports gun ownership rights..
YesNo
Supports traditional marriage..
YesNo
Proposed programs will mean a huge tax increase..
NoYes
Voted against making English the official language..
NoYes
Voted to give Social Security benefits to illegals..
NoYes
Capital Gains Tax
0% on home sales up to $500,000 per home (couples). This assumes you are investing the money in another house (the same policy that currently exists). McCain does not propose any change in existing home sales income tax.28% on profit from ALL home sales.

Q: How does this affect you?

A: 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
15% (no change)39.6% (+14.6%)
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 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
(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 could almost DOUBLE!)
Inheritance Tax
0% (No change, Bush repealed this tax)Restore the inheritance tax Many families have lost businesses, farms, ranches, and homes that have been in their families for generations because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 only lose them to these taxes.
New Taxes 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!!!

Sources:

http://money.cnn.com/news/specials/election/2008/index.html
http://www.cnn.com/ELECTION/2008/issues/issues.taxes.html

http://elections.foxnews.com/?s=proposed+taxes
http://bulletin.aarp.org/yourworld/politics/articles/mccain_obama_offer_different_visions_on_taxes.html

http://blog.washingtonpost.com/fact-checker/candidates/barack_obama/
http://blog.washingtonpost.com/fact-checker/candidates/john_mccain/

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