All Life Insurance Tips - Can we afford Obama?

Can we afford Obama?

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 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 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 INHERITANCE TAX McCAIN 0% (No change, Bush repealed this tax) OBAMA Restore the inheritance tax How does this affect you?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 not 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!!! http://money.cnn.com/news/specials/election/2008/index.html http://www.cnn.com/ELECTION/2008/issues/issues.taxes.html http://bulletin.aarp.org/yourworld/politics/articles/mccain_obama_offer_different_visions_on_taxes.html Yes or no won't get best answer here and neither will just agreeing with the premise. Its an election year tell me why raising taxes would be a good or bad thing. InsideR.. I have never asked this question before. Noah H.. you are rude. You have a chance to proffer any point of view you wish. Instead you think that being insulting will change anyones point of view. You need to grow up, quit acting like you are still in a playground and name calling will solve anything.

Public Comments

If Obama won't help his own brother living in a shack in Africa, he sure ain't gonna help you
judging by the last 8 years,we sure as hell cant afford another republican.
For most average Americans, their taxes will be lowered more under Obama's plan than under McCain's as is demonstrated by this unbiased comparison of their two plans.
If Obama gets elected, I plan on going into low tax mode. I have already figured out a way to pay less taxes than I do now.
Raising taxes on capital gains could have a big effect on the stock market. If people know that they will have to pay more in 2009 they may be tempted to pull their money out of stocks and maybe hide it somewhere else where it can't be taxed. What would that do to the stock market if too many people sold off their stocks. There has been talk about taxing the oil companies. Who does he think that will effect. They will just raise the prices at the pumps so they will still make their money.
I think we will all be living in a shack if Obama wins. Since that's not even counting environmentalist green tax
I can't afford him none of my friends can it really sucks, we have worked hard and invested wisely. we have gone without and now we are going to screwed for it. I want Obama to explain to my kids why they can't go to college, why the investments we made didn't pan out why THEY can't be considered for one of zillion dollars worth of affirmative action scholarships. EDIT...SAILING above is spot on, we have already tallked about withdrawing all of our investments to try to salvage what we can. There isn't anything fair about this plan of his. Words...just words.
Your talking as if we all were on the paying end of the tax system. Isn't this wonderful news for quite a few people? There would (possibly) be less lay-offs or manning cuts for: NASA, the IRS, all military branches, and all government organizations. And what if I live in subsidized housing? Or live off of food stamps? Then yay for me. (I'm not describing myself but am just trying to make a point)
All these discourses about taxes ignore the most important aspect: the multi-trillion budget deficit! Any kid knows that if you keep spending more money than you earn, you go bankrupt in the end. The Reps have reduced taxes and increased spending (not just on wars). Anyone wanting the USA to go on like this is prepared to risk an economic collapse down the road. Seems pretty unpatriotic to me.
yes. Regards.
We are in debt. even with Obama we are still going to be digging faster than we can keep up as it piles on, because it is so bad..We will lose billions more if McCain is in office...The plan the dems have will bring us more tax payers & less people needing to use the system for support. Even health care is an investment we can't afford to not make. I had diabetes years ago & my circulation was so bad I couldn't think straight. You hear of people have ADD & all kinds of other things I had all kinds of problems but because I didn't think well I just got worst...I got sick & went to a free clinic & they got me on diabetic pills. I am so much better now & this has made me work more which means I pay more taxes. Republicans don't look at the whole picture. The foundations that is crumbling is not going to hold up the top.
Maybe Obama feels raising taxes is necessary because of the gaping financial hole Adolf Bush has dug?
So you've posted this question what, five times now? Why don't you go see the other answers? Now to answer your question, we in Canada have much higher taxes than you have in America. The difference is that we spend our tax money wisely, and we are not in a recession. You can take what you will from that.
Income tax rates are only a part of how tax plans will effect the middle and lower wage earners. For Obama it's give them a tax break and then take the money back with other taxes. The poster left out other parts of McCains plan. Doubling the personal income tax credit Providing $2,500/single 5,000/family tax credit to pay for medical insurance Allowing families to have private tax free accounts for health/education and retirement. I never understand why the Democrats always oppose people having tax free accounts for these items. .
I cannot afford Obama.
Can we afford four out of five questions posted by reactionary bots? The swift-boat navy is thick on the water. Never any defense of old man McCain, just the same old tired BS about Obama. Anyway, nobody is going to 'raise your taxes'.....We'll just go back to the Clinton years where we could pay our bills and put a little bit aside for a rainy day. We've borrowed as much as we can borrow...borrowed to the point that our credit is getting shaky. We ask people to give up life and limb, but if you ask for a few more bucks it's like the end of the world. The reactionary right will probably 'win' again, and this and a dozen generations to come will find out how it feels to live in a third world country...but by God taxes will be 'low'. Two words...grow up!
people just do not understand that our economy is cyclic, and after a period of growth, a period of recession is necessary. does that mean that while everything i use in day to day life gets more expensive that i should pay more taxes? only a moron would think that way. not to mention capitol gains more than doubling. what kind of nimwit thinks that is good for you. the only peole that would benefit are the ones who are on welfare or some other form a state/federal aid. i worked hard for the past 15 years to get where i am now, do you think i want to push my retirement further away than it already is just to help compensate for the additional taxes i will be forced to pay under Obama's "genius" plan. the only ones who benifit from higher taxes are the ones who don't pay any now.
How much time did you spend writing this question?
As compared to what g.w. has cost the country, obama would be a bargain at twice the price. How else does one pay down the debt?. Is it the position of the right not to pay?. I don't think that you can have it both ways,spend wrecklessly and say bill me later, then not pay up. In the links that you site, the numbers do not appear any where and at least be honest, third world countries do not have health care.
I do not think we can afford Obama.Raising income tax will just put a bigger burden on all-ready struggling families!Reversion to pre-Bush tax rates is a tax hike that doubles the tax on most workers.Rather than cutting spending in these hard economic times Obama will essentially be expanding government and the operating expense.
I seriously cannot afford EITHER of them!! The middle class is becoming extinct.
I'd love to hear them both talk more about how our government needs to be more fiscally responsible in it's spending - that's the real problem.
We cannot afford either party. It goes a lot deeper than taxes when looking at a candidate. The statistics are as useless as all of the rest of the propaganda that gets sold to the public. As with any statistics and propaganda, the manipulation to express a particular view is simply a sales tactic. Under the Republican party, the dollar was taken off the gold standard, now the dollar is worth the paper it is printed on and the value of the US economy. Now for the current administration and their sales pitch that the investment in the US from foreign investors has risen by 30% under Bush. Translate that to its true meaning, the sale of US businesses and interests to foreign investors has risen 30%. This has been supported by the current administrations devaluation of the dollar. When the economy regains strength, it will profit the foreign investors. How much of Hollywood, Las Vegas, "America's" big 3 auto makers, or even water and mineral rights in the US are US owned? Social medicine being third world? Fortunately I live under where there is such a system. I was paralyzed (military related) as a US Military disabled veteran 15 years ago. As an American under the US system, I would have been bankrupt, remained fully dependent on others for all aspects of life or dead. I had chosen to register myself where I live and the social system did take over as long as necessary, I spent over a year hospitalized and being in various physical, ergo and electrotherapy. After 1 1/2 years I was released to try returning to work, as a civilian for the military system. The rights I have here held my job open, under the US system, I would have lost my job. I was directly told by one supervisor, being handicapped, I have no value for the company. I was employed with the BX/PX system as a disabled veteran at the time, I am rated at 100%. My mother in her progressed age has seen income drop, prices rise (near double) and limitations constantly being placed on treatment by her US retirement and insurance. Here it may not be perfect, but I could not afford to return to being only under the US system. I am fortunate to have both, as for medical insurance, the way it is now I must remain here. Expecially as a disabled veteran, that is a sad truth for the US. I have watched the deterioration of the US system from a distance since 1984 when I was first stationed oversees. As an American I have seen that our oversees votes have rarely if at all been counted. The time Clinton was in office, I will say that the dollar was gaining strength and the economy was getting stronger. The defecit was not increasing and the amount of income taxes needed to pay the interest on the federal defecit was not increasing. Under Bush, which is what will continue if McCain is elected, in a few years there will be no money to run the government, 100% of the income taxes will go to pay the interest on the federal defecit. Would it be better under Obama? I just know it could not be worse than a continuation of Bush policies in the overall picture for America. Seperate representative votes is what is needed in America. No more winner takes all. If the votes were given to the candidates propartionate to the % of actual votes, it would open the system for independent candidates and force the current two parties to actually earn their political positions or be replaced by candidates that actually represented the people as opposed to the financial supporters.
What's worse? Higher taxes or our soldiers being in Iraq for a hundred years? It seems to me that every time we have an election (in my life) we have had to choose the lesser evil (for lack of a better label). I would never vote for a man who openly to the public states that he doesn't care if our soldiers stay in Iraq or not. Think of how that would effect American families. While after reading your post, I see your points and your concern but we wont know what's really going to happen until Obama is in office. Bush said "No new taxes." and we all know how that turned out. I don't know if Obama will be a good president or not...from appearances I think yes but appearances can be deceiving, especially in politics. But I know in my heart that we are all in trouble if McCain gets into office. In matters like this, you have to trust your gut about the type of person someone is, not what they say they will do. In the end, you just want a good person in charge of the country you live in, not someone who is going to agree with you all the time or make you rich. To your actual question: I don't think that we will go into deeper poverty from Obama being elected. There are other factors to be considered. I'm not very good at politics though, so I can't debate with you on it...I just know what my heart tells me and it doesn't often steer me wrong.
Yes, I think I can. I cannot however afford 7 homes, and an inability to even know how many homes I own. I cannot afford to stand by and watch the wealthy get all the breaks while the average Joe doesn't even know what having a retirement fund is like. I have one, and I'm very, very, fortunate, most of the middle and lower class won't be touched by those investment taxes, they can't afford to live, let alone invest. In the end our vote doesn't even matter, we're screwed.