THIS WILL CHANGE YOUR RETIREMENT


For those among you who have more money than you will ever need, save

your time and delete this email.


For the rest of us who are still working with mortgages, children and

grandchildren or retired living on a pension and or Social Security

perhaps you will take a couple of minutes to read the proposed changes

in the American tax system.


Sharing this email with others can make a difference on November 4,

2008; for our citizens and our country.


INTERESTING DATA ON TAXES


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 (and put lie to Obama's claim that 95% of the

population will receive a tax cut).


Proposed changes in taxes after 2008 General election:


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!!!