a question about McCain / Obama tax policies - help me refute

[malta blue]

the freeper email pasted below:

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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MCCAIN - 0% (No change, Bush repealed this tax)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 the above at the following web sites:

http://money.cnn.com/news/specials/election/2008/index.html
http://www.cnn.com/ELECTION/2008/issues/issues.taxes.html

http://elections.foxnews.com/?s=proposed+taxes
http://bulletin.aarp.org/yourworld/politics/articles/mccain_obama_offer_different_visions_on_taxes.html

http://blog.washingtonpost.com/fact-checker/candidates/barack_obama/
http://blog.washingtonpost.com/fact-checker/candidates/john_mccain/

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[Whalestoe]

1. FALSE!

http://www.snopes.com/politics/obama/taxes.asp

[malta blue]

5. damn you are fast....

Thanks! :toast:

[Whalestoe]

11. Welcome. The liars just can't get away with spreading that shit!

[tekisui]

2. Go to fightthesmears.com, this email has been going around for awhile

and is completely innaccurate and full of lies.

[malta blue]

6. thank you!

:toast:

[NMDemDist2]

3. fight the smear

http://my.barackobama.com/page/invite/obamaandtaxes

this is just another variation, send it to the Campaign

[malta blue]

8. DUers rock

:bounce:

I knew DU would be quick on this one :toast:

[Hope And Change]

4. Here`s another good link to use...

http://www.dailykos.com/story/2008/8/9/2031/50843/957/565530

[malta blue]

7. ding ding ding

Thank you so much :toast:

[humbled_opinion]

9. Oh good I need help too...

At work I have this idiot that keeps telling me Bush tax cuts set to expire in 2010 will become and effective tax increase of roughly 9 percent across the board to all tax payers. So really we all see a large tax increase.

[ProgressiveEconomist]

10. Tell them their income-tax figures are A LIE! Here are the CORRECT figures:

See
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x6923131
for clickable links to the Brookings/Urban Institute source of
these ACCURATE income tax figures

From
http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc
:

BREAKING DOWN THE NUMBERS

By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: June 11, 2008: 3:59 PM EDT

Here's how the average tax bill could change in 2009 if either
John McCain's or Barack Obama's tax proposals were fully in
place.

 . . . . . . . .MCCAIN . . . . . . . . . .OBAMA
Income . . . . .Avg tax bill . . . . . . .Avg tax bill .
Over $2.9M . . .-$269,364 . . . . . . . . +$701,885
$603K and up . . -$45,361 . . . . . . . . +$115,974
$227K-$603K . . . -$7,871 . . . . . . . . . . .+$12
$161K-$227K . . . -$4,380 . . . . . . . . . -$2,789
$112K-$161K . . . -$2,614 . . . . . . . . . -$2,204
$66K-$112K . . . .-$1,009 . . . . . . . . . -$1,290
$38K-$66K . . . . . -$319 . . . . . . . . . -$1,042     .
$19K-$38K . . . . . -$113 . . . . . . . . . . -$892     .
Under $19K . . . . . -$19 . . . . . . . . . . -$567     .

Source:The Tax Policy Center