So ok I’m sitting at my laptop and what do I get in my inbox, but a nice email from a former neighbor who I would help from time to time with his computer (dude is in his 50’s bless his heart) and I open it up to find out Barrack Obama is going to tax me to death. Now let me first say if you know me you are aware that I flood my friends mailboxes with interesting stories things I find funny, hell allmost anything. But I will say that I research everything I send before I shoot it off to a friends inbox as the gospel. So first let me share with you the dire news.
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.
MCCAIN 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 re-invests dividends, you will now be paying nearly 4 0% 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.
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
(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.
MCCAIN 0% (No change, Bush repealed this tax)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< BRthese 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!!!
Thank YouRobert D. Jenkins
Vice President – Investments
Chartered Retirement Planning Counselor
Wachovia Securities, LLC
So there you have it the world is ending if Obama becomes president ( I hope my sarcasm came across). Anywhoo with about 1 minute of diging on Snopes I came across this were basically we find out this whole email is a lie. I am sure though that many people recieved this email and passed it on to all their friends and family as truth. PLEASE PEOPLE DO A LITTLE DUE DILIGENCE BEFORE YOU PASS ON EMAILS AS TRUTH YOU OWE IT TO YOUR FRIENDS AND FAMILY AND YOURSELF.