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k2o4   United States. Jul 18 2008 16:21. Posts 4803
My friend just sent me one of those chain emails with scary shit about Obama, this time focusing on taxes. It's a topic important to my friend cause he's a businessman making plenty of money. I checked it out and of course it was a BS email, but it lead me to some cool info. Check out how income tax will be under each candidate in 2009:



So if you make over 603K a year, then you probably wont' be a big fan of Obama's tax policy. Otherwise there's not much to bitch about when it comes to income tax.

Here's my reply to my friends email, with a link to the snopes article on taxes. I suggest you read it cause it's easy, clear and full of great info. I'll put the smear email in a spoiler so you can refer to that if you want...

+ Show Spoiler +




  Overall it rates as false. So mostly BS. And I'm glad you got me looking into it, cause it turns out that I was right that your taxes would go up under Obama, but not by close to as much as I originally thought. For example, income tax will go up a whopping… $12.00 for you under Obama… omg! (this is assuming you’re still making between 227k and 603k).

Check this snopes article for the full breakdown: http://www.snopes.com/politics/obama/taxes.asp

Key highlights:

1) Capital gains WOULD go up under Obama, but not to 28%, but more likely to around %15. Also, this isn’t on “ALL HOME SALES” like they say – only when you profit over 500K in the sale does this kick in.

2) Obama wants to keep the dividend tax the same as capital gains, so that means %15, which is where it is now.

3) Like I already said, your income taxes would barely go up while everyone below you would get a tax break. Everyone underneath 112k would get a bigger tax break from Obama than McCain. So obama is definitely my man for cutting taxes.

4) All the death tax shit is totally off (inheritance tax). McCain wants to give people a bigger break on the inheritance tax than Obama, but Obama wants to give people a break from what it is right now. This section is kinda confusing so you gotta read it yourself, too hard to make it a short note.

5) 3 of the 5 “new taxes” by obama are complete lies and he never proposed any of them (2,400 sq ft homes, gas tax, retirement tax)

6) The “Natural resource consumption tax” is referring to the cap and trade proposal for reducing carbon emissions – making polluters pay more if they pollute more, encouraging em to go green.

7) The supposed tax for socialized 3rd world medicine is total BS – obama wants to use the money that comes by letting bushes tax cuts to the people making more than 603k a year expire. So it’s really semantics here.

Read the entire thing though, it’s pretty easy reading and clearer than my highlights.

Honestly, 95% of the email’s like this are full of shit from both sides, liberal and conservative. That’s why they’re sent out in emails like this. As soon as you get something like this in the mail, automatically assume it’s BS and you’re almost certain to be right. Then go to a place like snopes and check. On the rare occasion the email will be true, but you can probably go your entire life without ever receiving a true one, hehe.



Sorry, I can't help myself with politics.

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ggplz   Sweden. Jul 18 2008 16:32. Posts 16784

heh

if poker is dangerous to them i would rank sports betting as a Kodiak grizzly bear who smells blood after you just threw a javelin into his cub - RaiNKhANLast edit: 18/07/2008 16:32

Baalim   Mexico. Jul 18 2008 18:38. Posts 34262

what does the minus and plus sign mean o_oa

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k2o4   United States. Jul 18 2008 21:01. Posts 4803

minus means in 2009 it would be that much less than it is right now. Plus means it would be that much more.

Funny thing is that McCain cuts taxes for everyone, but in the lower tax brackets obama gives bigger tax cuts than mccain. Obama raises tax on the upper tax brackets, but he's just letting the bush tax cuts expire.

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Sheitan   Canada. Jul 18 2008 21:02. Posts 4217

You're dumb Baal, but k2o4 you must be like the top 0.5% americans who have some interest in politics and understand it very well. Too bad the last 99.5% will take a decision for you obv =)

Odds are exactly 50%, either happens or it doesnt  

k2o4   United States. Jul 18 2008 22:08. Posts 4803


  On July 18 2008 20:02 Sheitan wrote:
You're dumb Baal, but k2o4 you must be like the top 0.5% americans who have some interest in politics and understand it very well. Too bad the last 99.5% will take a decision for you obv =)



So true

Last week I stopped trying to learn about politics and I spent a week in complete oblivion of what's going on in the world. It was dead easy to do and I realized "hey, most americans are this clueless"

Pretty sad =(

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gawdawaful   Canada. Jul 19 2008 00:43. Posts 9012

standard, the white guy wants to give more rake back to rich white businessmen while the poorest crackers and niggers get dick all
base on this I'd vote for the half black Muslim terrorist

glad I'm not American

Im only good at poker when I run good 

 



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