Yesterday’s collapse in Wall Street has dramatically impacted how our public perceives the state of our entire economy and how they view the politics of Washington. We have had a President that has betrayed every tenet of conservatism to its very core, basically governing as if he were a card carrying Liberal. Government and spending have therefore increased to new heights, while Main Street has suffered the consequences of entrenched interests.
On the flip side, we have had a Democratic congress that, after coming into power barely two years ago, has already engendered the lowest approval ratings in the (recent) history of that collectivity. They have thus squandered and robbed the American people by increasing earmarks for unnecessary projects and have also provided an unmeasurable amount of civic and corporate welfare to individuals and entities that clearly don’t deserve it.
By all estimation, Washington is broken, and no matter how we look at it, the probability of it changing quickly enough is far ahead (if ever). But, what is quite clear is that, at this moment in our history, we simply CANNOT afford electing somebody like Barack Obama, a man who has NEVER followed through on his word to the American public. From going back against his pledge to be a part of public financing, to lying about “heading the banking committee”, when he was not even a member, to his recent attempt to negotiate with Iraqis to keep our troops in their country for a longer period of time, just so that he could have a better argument to get elected (all the while he was simultaneously telling the public that he wanted the same troops out immediately). This sort of dishonesty and untruthfulness is very dangerous in a crisis such as the one we are facing today, and Obama’s record of double dealing makes him ineligible to face this challenge.
When you add into the mix his utter inexperience on EVERY single hurdle that we face, and the fact that he has NEVER managed ANYTHING (not even a personal business), it is very clear that Obama should be far removed from the decisions that will PERSONALLY impact every single one of us.
But don’t take my word for it, let’s look very closely at what Barack Obama and his countless advisers are proposing to do with our economy, and YOU be the judge of what it means to the fate of our Country.
Obama and his Tax Attack
Below, you will find a few points to remember and consider. You can also verify all of this tax information by clicking HERE (a CNN source) and/or by clicking HERE.
INTERESTING DATA JUST RECEIVED ON TAXES & PROPOSED CHANGES IN TAXES AFTER 2008 GENERAL ELECTION.
Consider your pocketbook:
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 a 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 becomes 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.’
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: (reverse all 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… The information above 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, 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 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!!!
THE FOREGOING IS SOMETHING YOU SHOULD BE AWARE OF AND IT SHOULD MAKE YOU THINK BEFORE YOU CAST YOUR VOTE IN NOVEMBER.
As you can see, if the United States elects this highly inexperienced and double dealing politician to its highest office, both our economy and our national security will be DRAMATICALLY (and negatively) affected. Obama’s unpreparedness to deal with all of these issues, his inability to reach across party lines, and his entrenched Marxist-Leninist views on how our society and our markets should function, will undoubtedly drive this country into the ditch of collapse and bankruptcy.
So don’t believe the celebrity hype from the Obama campaign, and always remember to be VERY WARY of any candidate who actually revels and enjoys the collapse of our country’s economy, simply because he thinks that it may help him get elected.
**In a “curious” note, let’s look at how Wall Street’s corruption has benefited Barack Obama:
AIG - $75,899
In 2007 Eric Schwartz, the co-head of Goldman-Sachs Global Asset Management abruptly stepped down from is position, fueling rumors that his resignation was tied to a crumbling Global Alpha Hedge Fund. The Fund’s mounting losses led to a -39% performance last year as the fund assets shrunk by 60%. Shwartz, an Obama bundler and contributor, has helped to raise over $100,000 for the Senator’s Campaign.
In 2007 Robert Wolf, the CEO of UBS Americas, helped the Obama campaign raise more than $500,000. That amount was equaled by Louis Susman, the Chairman of a Citibank Subsidiary.
Additional High Profile Financial Executives Include:
John W. Roberts - (over $500,000) Ariel Capital Management
Richard Leweke – Vice Chairman of Washington Mutual Card Services
Seth Waugh – CEO of Deutsche Bank
Charles Lewis – Vice Chairman of
Merrill Lynch
Francisco Borges – Over $50,000 Chairman of Landmark Partners a private equity real estate firm.
Michael Froman – Over $200,000 Managing Director of CitigroupDavid Heller – Over $200,000 Managing Director of
Bruce Heyman - Over $200,000 - Managing Director Goldman Sachs
J. Michael Schell – Over $200,000 Managing Director at CitigroupJim Torrey – Over $500,000 Founder of the Torrey Funds – Hedge Funds
Todd Williams – Over $50,000 Managing Director Goldman Sachs & The Real Estate Council
Louis Susman - Over $200,000 Citi Investment Banking.
And today, while most Americans wonder how this will all be fixed (and who can help them), Obama is having a party in Beverly Hills with countless Hollywood celebrities, to raise millions of dollars for his campaign towards the White House. The cost PER PERSON is $28,500, the ticket to then watch Streisand perform afterwords will be $2,500. All the while, McCain has just proposed setting up a 9/11 commission/style entity to fix the corruption in Wall Street.*
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