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It is simple economics people. Obama wants to raise Cap. Gains tax from the current 15 percent up to 35 percent, raise Estate (Death) Tax up to 45 percent, raise Corporate taxes from 35 percent to 38 percent, raise tax rate on individuals and small businesses that earn over 250k by additional 5.7 percent, raise taxes on oil and gas companies by 15 percent. Obama will only lower individual income taxes on people earning less than 250k by increasing the standard tax deduction by 1500 dollars which equates to about 400 dollars saved after you complete the forms. Everyone who sells a home or buys fuel or consumer goods will pay 3 times that tax deduction in increased prices on goods and cap gains . If you die, your dependents will pay 3 times the current tax rate on your estate. McCain offers lowering Cap Gains from 15 down to 7.5 percent and Death Tax down to 15 percent while raising Estate level to 5 million for that tax. READ THEIR PLANS! Their is a reason Obama does not talk specifics!
People blame bush for the economy, the war, even the freaken weather (Katrina).... why is this? and if you blame him, tell me what you would have done different in his situation?
OK, a little history and then I'll explain the question better. My wife and I are travel nurses. We take assignments in areas we are considering living in. Sometime around the end of 09/beginning of 10, we will have a better idea of where we'd like to settle down in and we will buy a house. As we go around the country, I have a few realtives/friends back home who I keep in touch with for info. on the housing market. When I like a place, I give them a ring and they research the place from their desk/home in PA. One thing they look for is the presence of "house flippers". They have a few things they look at that tell them if there is heavy house flipping activity in the area. If there is, we wont live there, or we will be very carefull not to look at houses beig sold by house flippers.For those who are not familiar with the term, a house flipper buys homes/property and resells it at a higher cost to someone who desperately wants it.
This is for research to determine if people allow change.
Tell me one time in which a poor person ever created a job? Do you not realize that when taxes are increased on the rich they just bury there money to protect it as they like anyone want the most return for their investment? Do you not realize that some of the richest Americans are politicians and that when the pass a tax that will effect them they will make sure that there is a tax cut or shelter to protect their money? Tax the rich or tax cut for the rich is just something to stir the pot and make people angry or excited depending on which one they are talking about. They are just playing anyone that fall for the rhetoric is a fool that they have a great time laughing at. Do you want to be their fool?
No need for further explanation I guess. The subprime mess is the result of greedy lending. But in the end it not only hurt the subprime borrowers but also ruined the housing markets damaging the credit histories of once credible borrowers.