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Obama vs McCain - Are you aware of all this????

By David W. Bolick

Real Estate Agent with Network Real Estate, Inc. PB00001682

October 21, 2008 08:35 AM

I just received this email from a friend and I pretty much knew most of it, BUT, there are definitely some SCARY Real Estate Issues involved here folks. If you think any of this is inaccurate, let me know.

ISSUE		JOHN McCAIN	BARACK OBAMA
Favors new drilling offshore in USA		Yes	No
Appoint conservative Supreme Court Judges who interpret the law only		Yes	No
Military Service (Active and/or Inactive)		Yes	No
Time in US Senate		22 YEARS	173 DAYS
Advocates Socialized Medicine		No	Yes
Supports abortion (including 'partial birth')		No	Yes
Troops out of Iraq now		No	Yes
Supports 2nd Amendment Gun Rights		Yes	No
Supports homosexual marriage		No	Yes
Overall programs require large tax increases		No	Yes
Supports English as the official language		Yes	No
Social Security benefits to illegal felons?		No	Yes
HOME SALES TAX
MCCAIN	0% on home sales up to $500,000 per home (couples) and no tax increase for all other existing home sales.
OBAMA	28% on profit from all home sales, a MAJOR 'hit' affecting retirees downsizing for equity transfer to retirement.
STOCK DIVIDEND TAX
MCCAIN	15% (no change)
OBAMA	24.6% increase to 39.6%
GENERAL 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 back 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, taxes almost double!
INHERITANCE TAX
MCCAIN	0% (No change to previous Bush repeal of Inheritance Tax
OBAMA	Wants to restore the inheritance tax, a HUGE hit to long-term family held business and properties lost due to inability to pay exorbitant inheritance taxes. Multiple properties going into receivership, often sell for 50 cents on the dollar.
NEW TAXES PROPOSED BY OBAMA
New federal 'luxury' tax proposed on homes that are more than 2400 square feet. Additional federal gasoline tax. New federal tax on natural gas, water and electricity. New tax on retirement accounts. New, across the board general taxes to pay for socialized medical benefits, including to illegals.

Above information may be verified at the following sites:

http://money.cnn.com/news/specials/election/2008/index.html
http://www.cnn.com/ELECTION/2008/issues/issues.taxes.html
http://elections.foxnews.com/?s=proposed+taxes
http://bulletin.aarp.org/yourworld/politics/articles/mccain_obama_offer_different_visions_on_taxes.html
http://blog.washingtonpost.com/fact-checker/candidates/barack_obama/
http://blog.washingtonpost.com/fact-checker/candidates/john_mccain/

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David W. Bolick

Network Real Estate, Inc. - Little Rock, AR

THANKS for the comments. My biggest concern was the 28% capital gains tax on the sale of a home. That was repealed back in '89 I believe. Bringing that back would be a disaster!!

Nov 03, 2008 05:40 AM

William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

the estate taxes give no incentive to do well into your olkd age.

Nov 03, 2008 05:52 AM

10-4 on that William. Best thing is to move the business Off Shore and out of the U.S. That's probably going to be prevalent.

Nov 03, 2008 05:55 AM

Richard Stabile

Re/Max Real Estate Limited - Oradell, NJ

Bergen County New Homes Builder Realtor

You might as well leave now, because there will be nothing left here in the Soviet Union.

Richard

Nov 03, 2008 01:49 PM

Michelle Chamberlain

Above All Financial Services -Pennsylvania Mortgage Broker - Secane, PA

Suburban Philadelphia Mortgage Broker

I like the one comment about a lot of this being untrue but nothing to back it up. That's what a lot of people don't get about the Obama plan. He may lower income tax rates but he is making up for them elsewhere. How are we gonna get the real estate market back on track with a 28% tax on the profit of homesales? There is no incentive for anyone to move up or down.

Michelle

Nov 03, 2008 02:38 PM

Michelle...I HOPE that is bad information. Surely to God our Congress won't be THAT STUPID! If they do...I just hope there are enough people left in this country without brain damage that will bring a grass roots IMPEACHMENT MOVEMENT to remove everyone from office!!!!!!

Nov 04, 2008 05:03 AM

Jim Frimmer

HomeSmart Realty West - San Diego, CA

Realtor & CDPE, Mission Valley specialist

Nothing after the election, David?

I didn't read through all of it because it's post-election stuff, but I can tell you that Obama does not support gay marriage. We're working on him on that point, though. Stay tuned.

Dec 20, 2008 11:03 AM

Obama vs McCain - Are you aware of all this????

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