2008 PRESIDENTIAL CANDIDATE COMPARISON TALKING POINTS ISSUE JOHN McCAIN BARAK OBAMA Favors new drilling offshore US Yes No Will appoint judges who interpret the law not make it Yes No Served in the US Armed Forces Yes No Amount of time served in the US Senate 22 YEARS 173 DAYS Will institute a socialized national health care plan No Yes Supports abortion throughout the pregnancy No Yes Would pull troops out of Iraq immediately No Yes Supports gun ownership rights Yes No Supports homosexual marriage No Yes Proposed programs will mean a huge tax increase No Yes Voted against making English the official language No Yes Voted to give Social Security benefits to illegals No Yes 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 INHERITANCE TAX MCCAIN - 0% (No change, Bush repealed this tax) OBAMA Restore the inheritance tax Many families have lost businesses, farms, ranches, and homes that have been in their families for generations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_diffe... http://blog.washingtonpost.com/fact-checker/candidates/barack_obama/ http://blog.washingtonpost.com/fact-checker/candidates/john_mccain/

 

 

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