Thursday, June 26, 2008

John McCain Won't Raise Your Taxes-Obama will

The following are some of Obama's Taxing proposals :

  • He will create a 60 percent tax bracket for upper-income Americans and raise the top bracket to 40 percent. He will apply FICA taxes to all income, not just that under $100,000 as at present. ( 40 %+ FICA’s 12.5 % + Medicare’s 2 % + state and local taxes averaging, after deduction, at 5-6 %=60 %. (Source-Dick Morris )

  • He will double the capital gains tax. The likelihood of an Obama Presidency could trigger a Stock Market Crash as investors rush to sell shares to avoid the higher rates of capital gains tax.

  • He will double the dividend tax.

  • His opposition to nuclear power and extra oil drilling means that energy prices will remain high. America's over reliance on oil imports will continue.

Obama plans to raise spending by $800 billion over 4 years. The Tax Payer will fund the Socialist policies of a President Obama.

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