Posted by
Sean on Tuesday, June 24, 2008 8:11:14 AM
Shame on you, small business owners, poor people, investors, entrepreneurs, married people, parents, survivors of the deceased, and companies providing and creating jobs.
Barack Obama thinks you're taxes aren't high enough, and it's high time you pay up!
McCain vs. Obama on Taxes
Which April 15 would you rather have?
|
|
Current Law
|
McCain
|
Obama
|
|
Top Tax Rate
|
35%
|
35%
|
39.6%
|
|
Lowest Tax Rate
|
10%
|
10%
|
15%
|
|
Capital Gains Rate
|
15%
|
15%
|
20%
|
|
Dividends Rate
|
15%
|
15%
|
39.6%
|
|
Death Tax
|
0% by 2010
(Repealed)
|
15%/$10 million
|
55%/$1 million
|
|
Marriage Penalty
|
None Under
$150,000
|
None Under $150,000
|
Full from Dollar One
|
|
Child Tax Credit
|
$1000
|
$1000
|
$500
|
|
AMT Rate
|
28%
|
0% (Repealed)
|
28%
|
|
Self-Employment Rate
|
37.9%
|
37.9%
|
54.9%
|
|
Corporate Income Tax
|
35%
|
25%
|
35%
|
|
Business Infrastructure
|
Long and Complex Depreciation
|
Full Expensing
|
Long and Complex Depreciation
|
It's clear that under Obama, just about everybody suffers a needlessly punitive tax hike. Even if you're lucky enough to not see yourself on this list, you'll still be paying. In fact, it's almost worse for the "middle class" with Obama's plan, because those hikes will be hidden in the form of higher prices for the stuff you buy, the denied raise you were expecting and probably deserve, or the layoff you or someone in your family may endure as the result of a severe recession. Surely a man as suspicious of corporations as Obama is realizes that corporations don't pay taxes. He can hike their taxes all he wants, but it still only means higher prices for all of us who need to buy stuff from these companies.
With Obama, all we can do is hope that he changes his policy to one we can believe in.