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Obama in 9 Point lead over McCain
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[QUOTE]Originally posted by The Bigfoot: [QB] LOL You didn't read far enough. Capital Gains: Neither candidate is going to change the $500,000 exemption. Obama has said he'd likely raise cap gains tax. 28% is where it was during Clinton's years. Obama says no more than that and his Tax Plan on his website says top at 20%. Dividends: Obama says it should be taxed same as Capital Gains. He has publicly said Capital gains certainly wouldn't be above 28% and his Tax Plan on his website quotes 20%. Additionally it says this change would only affect households that make more than $250,000 per year. Income tax: Households making less than $250,000 per year will pay less tax with Obama's plan, not more. Inheritance Tax: Inheritance Tax was never repealed by Bush. Estate tax generally applies only to estates valued at 2 Million or more and tops out at 45%. Inheritance Tax is ALREADY SCHEDULED to raise exclusion amount to 3.5 Mil in 2009, in 2010 it will be suspended completely, and then in 2011 it is ALREADY SCHEDULED to be reinstated with a 1 Mil exclusion and top rate of 55% Obama wants to change it to a 3.5 Million exclusion with a top rate of 45% standard. Other New Taxes Proposed by Obama: New Tax on homes bigger than 2400 sq. feet: Lie, Obama has not proposed this tax. New Tax on gasoline: Lie, Obama has not proposed this tax. New Tax on retirement accounts: Lie, Obama has not proposed this tax. New tax on natural resource consumption: If referring to Cap and Trade pollution control then yes, though that is a cost charge to polluters not a tax on the public. New tax for Universal Healthcare: Obama states his healthcare plan can be funded by repealing the Bush tax cuts on those who make more than $250,000 per year. This then is not a new tax. So really surfer, unless your family brings in more the 250k a year and owns a home worth more than 500k...no,your family's taxes will not be higher. [/QB][/QUOTE]
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