Obama's new Economic Stimulus / Energy proposal - Page 4

Krontak · 08-03-2008, 03:36 PM

Quote:

Originally Posted by Oopo

Are you talking about McCain changing his mind about drilling after the price of oil increased 600%. Because that makes perfect sense to me.

Oil is so last century. Lets move on shall we?

Daedalus · 08-03-2008, 03:41 PM

Quote:

Originally Posted by Krontak

Oil is so last century. Lets move on shall we?

Ah, so I take it you come from the future, where we already have another viable energy source?

Care to share the technology? Seeing as to how we're still going to be stuck with oil for awhile yet.

Krontak · 08-03-2008, 03:55 PM

Quote:

Originally Posted by Daedalus

Ah, so I take it you come from the future, where we already have another viable energy source?

Care to share the technology? Seeing as to how we're still going to be stuck with oil for awhile yet.

Yeah, lets make a big stink about a resource that's drying up. That makes a ton of sense. Shouldn't we probably focus on what is going to carry us into the future. I understand most of society and Americans in general are about as impatient as a 5 year old wanting a candy, in need of instant gratification that oil can provide in their minds.

And when Republicans wave the prospect of drilling as an instant relief at the pump in front of their faces they can't see anything else but that.

The technology is here already. Pickens, Kennedy and other prominent voices on renewable and clean energy have laid out the groundwork. It will only require some focus to get off the oil addition rather than our Republican minority trying to focus only on that and trying to create a ridiculous wedge issue on an energy source that is slowly disappearing.

Hexus · 08-03-2008, 03:56 PM

Just wanted to share some things:

Experience Summary:

Congress Military

John McCain 26 Years 22 years

Barrack Obama 143 Days 0

***Summary Concluded***

Tax Summary:

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% (say what?)

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) (Figures are approximate for both candidates)

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

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 but possibly owe money.

NEW TAXES BEING PROPOSED BY
OBAMA
* New government taxes proposed on homes that are more than 2400 square feet (Anyone fall under this? I do and will continue to with 2-3 children)
* 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

***Tax summary Complete***

You want to vote for Change? There's some change in there alrighty....

-Hexus-

Krontak · 08-03-2008, 04:09 PM

Quote:

Originally Posted by Oopo

Are you talking about McCain changing his mind about drilling after the price of oil increased 600%. Because that makes perfect sense to me.

If he believes it would make such a huge difference, then why hasn't he agreed to drill in ANWR?

If he had any brains, he would have negotiated part of his energy proposal to drilling but no, he probably doesn't even believe in his own energy plan.

Anyways, everyone should look at the new bipartisan energy proposal drafted up by the U.S. Senate. They've gotten away from their by partisanship and have stopped the gridlock by allowing both sides to push their agenda's. Finally they've decided to do something. Neither side has flipped or flopped or whatever garbage people like to call it. It was a compromise from both sides. Although neither agrees fully with various parts of the proposal, they've finally woken up and realized to get things done, compromise is the only solution. Thank god.

Krontak · 08-03-2008, 04:24 PM

Quote:

Originally Posted by Hexus

Just wanted to share some things:
You want to vote for Change? There's some change in there alrighty....
-Hexus-

I guess you're satisfied with how the economy is right? That would explain why you think McCains plan is a good idea. Obama's good judgment trumps McCains experience on just about everything.

" The experts predict that 'higher tax rates on dividends and capital gains would crash the stock market"

Which experts?

" 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."

You realize this affects 1/2 of 1% of the wealthiest.

It's almost amazing how Republicans have convinced so many to argue for more tax cuts for the top 1%. It cracks me up. They've got masses of people out there defending them daily on this issue. Then you've got Obama that comes along and is willing to give middle income families additional income tax breaks and he becomes the bad guy. Now, you would think 80% of the population that would see further cuts in their income tax would be rallying behind Obama. Nope, they would still rather stand lock, stock and barrel behind their conservative champions and rally behind them not having to share more of the tax burden while benefiting so greatly from it.

Laodaron · 08-03-2008, 04:41 PM

only .5% of people get inheritances? Wow. That's odd. I could swear that more people than that inherit things.

Also, as Widem pointed out, the top 5% of the wealthy in America already cover over 40% of the tax burden. Its time to stop punishing people because you're jealous of them.

Oopo · 08-03-2008, 04:43 PM

Quote:

Originally Posted by Krontak

It's almost amazing how Republicans have convinced so many to argue for more tax cuts for the top 1%. It cracks me up. They've got masses of people out there defending them daily on this issue. Then you've got Obama that comes along and is willing to give middle income families additional income tax breaks and he becomes the bad guy. Now, you would think 80% of the population that would see further cuts in their income tax would be rallying behind Obama. Nope, they would still rather stand lock, stock and barrel behind their conservative champions and rally behind them not having to share more of the tax burden while benefiting so greatly from it.
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You're right. Obama's position probably has nothing to do with the fact that middle class Americans make up the majority of the voting population. And attacking the wealthy gets support from the part of the working class that suffers from wealth envy.

I just don't support wealth redistribution in any form which is what our tax code is achieving.

Illuminator · 08-03-2008, 09:44 PM

Maybe Obama doesn't realize that stock and dividends are how corporate workers are prepared for retirement in their 401K's. Pensions are mostly a government luxury. And if I had to contend with a 28% tax on housing sale profit, I'd be in debt today. My friends in Florida are likewise absolutely keen about this.

Krontak · 08-03-2008, 11:06 PM

Quote:

Originally Posted by IlluminatorIlluminator

Maybe Obama doesn't realize that stock and dividends are how corporate workers are prepared for retirement in their 401K's. Pensions are mostly a government luxury. And if I had to contend with a 28% tax on housing sale profit, I'd be in debt today. My friends in Florida are likewise absolutely keen about this.

I might be wrong about this, if I am someone kick me. I don't believe the capital gains tax would put any burden on growth of 401k funds, be it company or mutual funds managed through a 401k account. Maybe, you would be penalized with an early withdraw but I don't think capital gains ever is accounted for in 401k's.

My company offers a really good pension and 401k. Computer Science Corp if you're interested in a job. :P

Isn't the fed capital gains on a house kick in somewhere around 200k profit? I don't think most would be affected by it.