A few points to remember and consider: You can verify the tax information at http://money.cnn.com/news/specials/election/2008/index.html, if you'd like. (INTERESTING DATA JUST RECEIVED ON TAXES & PROPOSED CHANGES IN TAXES AFTER 2008 GENERAL ELECTION.)
CAPITAL GAINS TAX
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.
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 (find your bracket)
MCCAIN (no changes)
Under Obama, your taxes will more than double!
How does this affect you? No explanation needed. This is pretty straight
Many families have lost businesses, farms, ranches, and hom es 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
THE FOREGOING IS SOMETHING YOU SHOULD BE AWARE OF. . . IT SHOULD MAKE YOU THINK BEFORE YOU CAST YOUR VOTE IN NOVEMBER.
Please spread the word. This will catch a lot of families off guard.
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