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    smokedetector's Avatar
    smokedetector Posts: 368, Reputation: 56
    Full Member
     
    #1

    Jul 16, 2008, 02:45 PM
    Got another one of those pesky emails.
    Would like comments on this, cites sources




    Subject:


    Taxes


    This is scary.
    INTERESTING DATA ON TAXES

    Proposed changes in taxes after the 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 39.6%

    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

    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 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

    MCCAIN 0% (No change, Bush repealed this tax)

    OBAMA 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!!

    You can verify a lot of the above at the following web sites:

    Election 2008: The candidates and your money - CNNMoney

    Taxes: Election Center 2008 - CNN.com

    McCain Touts Free Trade, Defends Immigration Stance at La Raza - America's Election HQ

    McCain, Obama offer different visions on taxes

    Fact Checker Archive by Category

    http://blog.washingtonpost.com/fact-...andidates/john (and there are many more to choose from, just use your favorite search engine)
    NeedKarma's Avatar
    NeedKarma Posts: 10,635, Reputation: 1706
    Uber Member
     
    #2

    Jul 16, 2008, 02:49 PM
    Garbage of course: Interesting Data Just Received On Taxes - snopes.com
    I got one that said that McCain was a pedophile, should I post it?
    smokedetector's Avatar
    smokedetector Posts: 368, Reputation: 56
    Full Member
     
    #3

    Jul 16, 2008, 03:55 PM
    I guess if you want feedback on it...


    *edit* Perhaps I didn't read down enough, but where does it say it's false?
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
    Ultra Member
     
    #4

    Jul 16, 2008, 04:01 PM
    Quote Originally Posted by NeedKarma
    Garbage of course: Interesting Data Just Received On Taxes - snopes.com
    I got one that said that McCain was a pedophile, should I post it?
    It really is all true, your candidate will admit to it all.

    He recently was asked if he planned to implement all these "changes" right away if he became the President.

    His answer was NO.

    It would have a detrimental effect on our distressed economy, we would have to wait for the economy to get better. (before we make it worse again?)
    tomder55's Avatar
    tomder55 Posts: 1,742, Reputation: 342
    Ultra Member
     
    #5

    Jul 16, 2008, 04:05 PM
    I don't understand the snopes link .Usually they provide a credible refutiation of the rumor . This looks like a discussion board.

    The fact is that I can't necessarily agree to all of the conclusions ;but the basic facts about the tax proposals are indeed accurate.

    Obama just be letting the tax cuts of the Bush Administration expire would create in effect the largest tax increas in US history on it's own.
    He has publicly said he will increase the Cap Gains. Tax .I don't know what his current percent increase is but the last figuree I read was 25-35% increase.

    Some of the sites like the AARP and CNN links above verify these so I think the snopes discussion site is wrong. That is either a different snope site or the quality of their research is suffering .
    NeedKarma's Avatar
    NeedKarma Posts: 10,635, Reputation: 1706
    Uber Member
     
    #6

    Jul 16, 2008, 05:34 PM
    Quote Originally Posted by tomder55
    I don't understand the snopes link .Usually they provide a credible refutiation of the rumor . This looks like a discussion board.
    Because the spam is too new. They do their research before posting the definitive article.
    SweetSourNSpicy's Avatar
    SweetSourNSpicy Posts: 6, Reputation: 5
    New Member
     
    #7

    Aug 8, 2008, 12:34 PM
    FactCheck.org: Would Obama tax my profits if I sell my home? Would he tax my IRA? Would he tax my water?

    That is what factcheck.org had to say about it. Not true. However, they are both still politicians running for president and therefore, just because they say certain things now, doesn't mean that's the be all and end all of what will happen. Just my opinion.

    I don't trust 99.9% of politicians, of any party, can you tell? ;)
    purplewings's Avatar
    purplewings Posts: 145, Reputation: 24
    Junior Member
     
    #8

    Aug 8, 2008, 01:18 PM
    That is the incorrect link to snopes.com

    Use this one and it will tell you if it's true or false.

    snopes.com: Proposed Tax Changes
    BABRAM's Avatar
    BABRAM Posts: 561, Reputation: 145
    Senior Member
     
    #9

    Aug 8, 2008, 05:14 PM
    Quote Originally Posted by progunr
    It really is all true, your candidate will admit to it all.

    He recently was asked if he planed to implement all these "changes" right away if he became the President.

    His answer was NO.

    It would have a detrimental effect on our distressed economy, we would have to wait for the economy to get better. (before we make it worse again?)
    Psst... you're either desperate or ignorant. Ninety-five percent of that email was fabricated. Read the correct snopes link that PW posted. Why would you promote lies, progunr? It only leads to making you look foolish, uneducated, and spiteful. It also makes McCain's supporters in general appear to be culprits of deceit, when perhaps they had nothing to do with the source of the initial email at all. Listen once before you claimed that you considered Ron Paul for candidacy and I applauded your effort (possible decision). I'm just curious as to why you don't research email content before unloading your pea shooter aimlessly at the board?
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
    Ultra Member
     
    #10

    Aug 8, 2008, 05:28 PM
    Quote Originally Posted by BABRAM
    Psst...you're either desperate or ignorant. Ninety-five percent of that email was fabricated. Read the correct snopes link that PW posted. Why would you promote lies, progunr? It only leads to making you look foolish, uneducated, and spiteful. It also makes McCain's supporters in general appear to be culprits of deceit, when perhaps they had nothing to do with the source of the initial email at all. Listen once before you claimed that you considered Ron Paul for candidacy and I applauded your effort (possible decision). I'm just curious as to why you don't research email content before unloading your pea shooter aimlessly at the board?!
    I didn't read any email content.

    I heard the words come straight from the Senator's mouth but since you have waited this long to attempt to slam me again, I'm not sure exactly where or when he said it.

    I'll do some research tomorrow to locate it and post it if I can find it.
    BABRAM's Avatar
    BABRAM Posts: 561, Reputation: 145
    Senior Member
     
    #11

    Aug 8, 2008, 05:46 PM
    Quote Originally Posted by progunr
    I didn't read any email content.

    I heard the words come straight from the Senator's mouth but since you have waited this long to attempt to slam me again, I'm not sure exactly where or when he said it.

    I'll do some research tomorrow to locate it and post it if I can find it.


    What do you mean, "wait this long to slam you?" I've asked the same of you, as I would have anybody else, including my closest friends and family. Hearsay doesn't work with me or in the courts. Go get the transcript and post it. Prove that Obama said the following from his mouth,

    "Proposed changes in taxes after the 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 39.6%

    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

    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 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

    MCCAIN 0% (No change, Bush repealed this tax)

    OBAMA 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!!!
    "
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
    Ultra Member
     
    #12

    Aug 9, 2008, 07:15 AM
    Quote Originally Posted by BABRAM
    What do you mean, "wait this long to slam you?" I've asked the same of you, as I would of anybody else, including my closest friends and family. Hearsay doesn't work with me or in the courts. Go get the transcript and post it. Prove that Obama said the following from his mouth,

    "Proposed changes in taxes after the 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 39.6%

    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

    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 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

    MCCAIN 0% (No change, Bush repealed this tax)

    OBAMA 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!!!
    "
    Calm down.

    I know how this stuff upsets you, but you really do need to relax a little.

    I NEVER said that Obama said ANY of that content from the email. Did you miss my statement "I never read any email"?

    What I DID say, was that he did make the statement that he would not implement all of his economic policies immediately upon becoming president, that he would need to wait for the economy to improve to enact some of them.

    I posted that almost a month ago... and I don't remember the EXACT words he used, as I was driving at the time I heard it.

    I will try to find the clip, and post it if I do.

    This guy has SO many issues, I don't have any need to try to fabricate ANYTHING, he provides quite enough material on his own.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
     
    #13

    Aug 9, 2008, 07:26 AM
    Hello prog:

    I don't know. I kind of don't believe it either... For example, if my taxes will be raised simply because Obama is going to let the Bush tax cuts expire, how come they didn't go down when the Bush tax cuts went into effect?

    Nahhh.. He didn't lower MY taxes. He lowered his buddies taxes.

    Plus, I just have a very hard time believing that he SAID he would make everybody pay 28% of the profits on their home in taxes... Specially since nobody pays anything today. A VERY HARD TIME.

    Nahhh. I don't believe it. Now, if you said he was going to raise taxes on zillionares, I'd believe that.

    excon
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
    Ultra Member
     
    #14

    Aug 9, 2008, 07:46 AM
    Bush's tax cuts effected everyone, and when they expire, you will see just how much.

    The only way you could have noticed would be to calculate your taxes at the rate prior
    To the cuts, did you actually do that?

    I think not.

    I probably should have worded my post better.

    The only thing I was giving Obama credit for saying, was that he would not be able to enact all the increases in his redistribution of wealth, and the punishment for success immediately, but would have to wait for the economy to improve first.

    He was speaking the truth in that statement.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
     
    #15

    Aug 9, 2008, 08:31 AM
    Hello again, Prog:

    I'm Jewish. I know exactly how much I pay.

    However... If given the choice between taxing us to pay for government services (including wars), or creating fiat money out of thin air to pay for them, I'll go with taxes...

    Cause printing the money IS a TAX on everybody!! So, the dufus in chief lowered taxes and then inflated the money supply about fourfold... Which, of course, is going to cost us lot more in the long run, than the tax cuts saved in the first place. Nope, we'd have been better off if he just got the money the good old fashioned way - TAXES.

    Now, that doesn't mean I like to pay taxes... But if we're going to have a war or two, I'd rather pay for them NOW, than leave the bill for my grandchildren to pay.

    Do I think McCain will do the same thing - which is inflate, and in effect, RAISE our taxes?? Yup.

    excon
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
    Ultra Member
     
    #16

    Aug 9, 2008, 08:40 AM
    If there were any issue between these two candidates with the widest spread, it is the issue of tax increases.

    I can guarantee that if the Dem gets in, we will all be paying more taxes than if the Republican takes office.

    To argue that, would be silly.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
     
    #17

    Aug 9, 2008, 08:47 AM
    Hello again, prog:

    Well, call me silly then, because I'll argue it. As a matter of fact, I think I did.

    Now, it's true, the Republicans USED to be the party of fiscal conservancy... But, not any more. You ARE paying attention, aren't you?

    excon
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
    Ultra Member
     
    #18

    Aug 9, 2008, 08:54 AM
    I'm paying attention, the past and present spending by this administration is a disgrace to say the least.

    It is however, only the tip of the iceberg, as compared to Obama's spending plans.

    We need to be afraid of what he will do IF he sneaks his way in.
    BABRAM's Avatar
    BABRAM Posts: 561, Reputation: 145
    Senior Member
     
    #19

    Aug 9, 2008, 03:32 PM
    Quote Originally Posted by progunr
    Calm down.

    I know how this stuff upsets you, but you really do need to relax a little.
    My blood pressure is consistently 120/80, as I watch you erode away at any credibility the McCain campaign may nurture.

    Quote Originally Posted by progunr
    I NEVER said that Obama said ANY of that content from the email. Did you miss my statement "I never read any email"?
    Oh? That's not what you told NK on thread number one. You accepted the above topic "email," as factual, truthful claims. In reference to "Got another one of those pesky emails," you said...

    "It really is all true, your candidate will admit to it all."

    Quote Originally Posted by progunr
    This guy has SO many issues, I don't have any need to try to fabricate ANYTHING, he provides quite enough material on his own.
    Yet you believe horrendously inaccurate emails that fabricate "ANYTHING." :rolleyes:

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