The following data, taken from the public record, reveals each Presidential Candidate ' s proposed TAX Plan, if elected. Each taxpayer should become more informed before the November-04 General Election......or be willing to pay the tariff of ignorance, once taxes are enacted. All of these facts have verifiable websites to check the accuracy of what is stated just below the last assertion.
INTERESTING DATA ON TAXES
Proposed changes in taxes after 2008 General election:
CAPITAL GAINS TAX
MCCAIN
0% on home sales up to $500,000
per home (couples) McCain does not
propose any change in existing
home sales income tax.
OBAMA
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
MCCAIN 15% ( no change)
OBAMA 39%
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.
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 taxation schedules)
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.
INHERITANCE TAX
MCCAIN 0% (No change, Bush repealed this tax)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 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 !!!
You can verify the above at the following web sites:
http://money.cnn.com/news/specials/election/2008/index.
http://www.cnn.com/ELECTION/2008/issues/issues.taxes.
http://elections.foxnews.com/?s=proposed+taxes
http://bulletin.aarp.org/yourworld/politics/articles/mccain_obama_offer_different_visions_on_taxes.
http://blog.washingtonpost.com/fact-checker/candidates/barackobama/
http://blog.washingtonpost.com/fact-checker/candidates/johnmccain/
Thursday, October 30, 2008
Wednesday, October 29, 2008
Wednesday, October 22, 2008
Bail Out???
Estimated US population as of July 2007: 301,139,947
Number of US homeowners in 2004 (the most recent stats I could find): 73,800,000
Percentage of mortgages in foreclosure or pre-foreclosure in January 2008: 9% (or approximately 7 million)
That 7 million mortgages in default or pre-default apparently represents that 700 billion dollar “bail out.”
I don’t pretend to understand finance or the “financial world” in general. If I did, I’m sure I would be a much wealthier person. But:
If the Federal Government gave each of those 73.8 million homeowners 1 million dollars, the total payout would be 7.38 billion dollars. If the Government required each of those homeowners to take that million dollars and pump it back into their mortgages, it seems to me that would “bail out” both the homeowners and the financial institutions. Once a homeowner’s mortgage is paid with the one million dollars, the remainder (if any) can be considered a “stimulus package,” as it would be funneled back into the economy by either paying of debt, upgrading a home (which many families would do if their mortgages were paid off, thus stimulating more economic growth for financial institutions), or run-of-the-mill purchasing. This seems to be a win-win proposition – though again I have no real understanding of finance.
What about the part of the US population that doesn’t own property? Well, given that the Federal Government has just saved 690 billion bucks by bailing out homeowners instead of financial institutions, a stimulus package could be offered to US tax-paying citizens. Let’s just say that of the remaining 227,339,947 people in the US, 200,000,000 of them are tax-paying citizens (not true, I know, but it makes the math easier). If the Government paid each of these persons (each person, not each household) $1000, the stimulus payout would be 200 billion. Homeowner bailout and stimulus package together would make a total Governmental payout of 207.38 billion dollars – which, seems to me, saves the Federal Government 492 billion dollars and still generates the desired effect on the economy.
This makes total sense to me. I’m sure I’ve oversimplified with my ignorance
Number of US homeowners in 2004 (the most recent stats I could find): 73,800,000
Percentage of mortgages in foreclosure or pre-foreclosure in January 2008: 9% (or approximately 7 million)
That 7 million mortgages in default or pre-default apparently represents that 700 billion dollar “bail out.”
I don’t pretend to understand finance or the “financial world” in general. If I did, I’m sure I would be a much wealthier person. But:
If the Federal Government gave each of those 73.8 million homeowners 1 million dollars, the total payout would be 7.38 billion dollars. If the Government required each of those homeowners to take that million dollars and pump it back into their mortgages, it seems to me that would “bail out” both the homeowners and the financial institutions. Once a homeowner’s mortgage is paid with the one million dollars, the remainder (if any) can be considered a “stimulus package,” as it would be funneled back into the economy by either paying of debt, upgrading a home (which many families would do if their mortgages were paid off, thus stimulating more economic growth for financial institutions), or run-of-the-mill purchasing. This seems to be a win-win proposition – though again I have no real understanding of finance.
What about the part of the US population that doesn’t own property? Well, given that the Federal Government has just saved 690 billion bucks by bailing out homeowners instead of financial institutions, a stimulus package could be offered to US tax-paying citizens. Let’s just say that of the remaining 227,339,947 people in the US, 200,000,000 of them are tax-paying citizens (not true, I know, but it makes the math easier). If the Government paid each of these persons (each person, not each household) $1000, the stimulus payout would be 200 billion. Homeowner bailout and stimulus package together would make a total Governmental payout of 207.38 billion dollars – which, seems to me, saves the Federal Government 492 billion dollars and still generates the desired effect on the economy.
This makes total sense to me. I’m sure I’ve oversimplified with my ignorance
Friday, October 10, 2008
Five Thoughts with Regard to Respect
**No one has the “right” to be respected. Respect is earned, not given. Neither compliments nor criticism have any effect if they are delivered by a person for whom I have no respect. If you want to be respected, you must be RESPECTABLE.
**If something is important enough to do, then it’s important enough to take responsibility for. Refusing to own your actions – actions with either positive or negative effects – is a blatant denial of your humanity. Not to mention a good way to ensure that no one will respect you.
**Try to keep in mind that the common denominator of every problem you’ve ever had is YOU, and only you are accountable for your choices. Accountability is the greatest gift we have. Model accountability for your children, for your colleagues. Accountability guarantees transparency – and respect.
**No matter what kind of spin anyone chooses to put on the concept, deception is equivalent to betrayal in all cases. Dishonesty serves no one. Lying – about anything – is the fastest way to earn the contempt of everyone around you and is never worth the effort. Lie to me and the only thing you’ve proved is that you don’t trust me enough to accept you for the fallible human being that you are.
**The right thing and the easy thing are very rarely the same thing. Create a culture of righteousness around you and support the efforts of others to choose wisely while embroiled in difficulty. A person who will always strive to do the right thing despite the high risk of failure is worthy of the highest esteem.
**If something is important enough to do, then it’s important enough to take responsibility for. Refusing to own your actions – actions with either positive or negative effects – is a blatant denial of your humanity. Not to mention a good way to ensure that no one will respect you.
**Try to keep in mind that the common denominator of every problem you’ve ever had is YOU, and only you are accountable for your choices. Accountability is the greatest gift we have. Model accountability for your children, for your colleagues. Accountability guarantees transparency – and respect.
**No matter what kind of spin anyone chooses to put on the concept, deception is equivalent to betrayal in all cases. Dishonesty serves no one. Lying – about anything – is the fastest way to earn the contempt of everyone around you and is never worth the effort. Lie to me and the only thing you’ve proved is that you don’t trust me enough to accept you for the fallible human being that you are.
**The right thing and the easy thing are very rarely the same thing. Create a culture of righteousness around you and support the efforts of others to choose wisely while embroiled in difficulty. A person who will always strive to do the right thing despite the high risk of failure is worthy of the highest esteem.
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