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?INTERESTING DATA JUST RECEIVED ON TAXES
??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.??
DIVIDEND TAX ??
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 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 will ?more than double!?How does this affect you? No explanation ?needed. This is pretty?straight forward.?
INHERITANCE TAX ??
0% (No change, Bush repealed this tax)??
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 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!!!