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DJ_Lord
Bittersweet Symphony

Registered: Mar 2002
Location: Bella Vista
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It's a good thing I am moving out...but for the rest of you...two words: GOOD LUCK. Read below:
The budget should be balanced, the Treasury should be refilled,
>public debt should be reduced, the arrogance of officialdom should
>be tempered and controlled, and the assistance to foreign lands
>should be curtailed lest Rome become bankrupt. People must again
>learn to work, instead of living on public assistance.
>
>-- Cicero , 55 BC
Hi All: I don't often get e-mails that are as clear in their
>message on tax levels (percentages of change) that will be promoted
>by our next president. This one seems painfully clear and I thought
>it might interest you.
>
>----------
>
>
>The web site listed takes you to the Wachovia Bank... It is a matter
>of public record what has been said..
>
>
>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 JUST RECEIVED 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.
>
>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!!!
>
>
>Thank You
>
>Robert D. Jenkins
>Vice President - Investments
>Chartered Retirement Planning Counselor
>Wachovia Securities, LLC
>314-991-7812
>800-999-4448 toll-free
>robert.jenkins@wachoviaseccom
><http://www.home.wachoviasecurities.com/robert.jenkins
>www.home.wachoviasecurities.com/robert.jenkins
_____________________
Abraham Kuzniecky
Guggenheim Partners
135 East 57th Street
New York, NY 10022
Tel: 212.381.7537; Fax: 212.644.8107
[email protected]
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Nov-05-2008 18:41
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DJ Eco
in yo mouf

Registered: May 2004
Location: Dirty Jersey
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Lord, you speak like cutting tons of taxes was a good idea. Yes, Bush cut taxes, but our schools are a mess, our bridges and roads are a mess, our levees (New Orleans) were a mess, and the things our country needed most were not provided for.
Lowering taxes while increasing spending... I'm not a Wachovia employee but that just doesn't "add up", and we've seen this in the past 8 years. Our infrastructure's gone to shit, and if paying more taxes means we'll live in a better United States Of America, then man up and pay up. It's common sense that our country can't fix itself without raising taxes. We're in a hole because of many things, including the Bush tax cuts, so this is where the "real Americans" can take part in bringing this country back.
| quote: | | The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands, should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance. |
That was a great quote you put up because all those things Cicero listed required him raising taxes, with exception to "welfare" programs as he says in the last part of the quote. Many aspects of Roman society would be seen as socialist nowadays, so that quote together with the Wachovia guy's email pretty much cancel each other out.
I'm not on the front lines claiming Obama's gunna be the best thing that happened to this country. But I'm just saying, you're a fool if you think this country won't right itself without raising taxes.... Not to mention, those numbers Mr. Wachovia mentioned are a bit sketchy.
___________________
http://thesoundofeco.com
Last edited by DJ Eco on Nov-05-2008 at 21:34
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Nov-05-2008 21:28
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