Real Estate Investing Forums

Miscellaneous => Random Ramblings => Topic started by: wallacehobbs on September 27, 2008, 10:28:19 am

Title: $250,000 and Above Attack!
Post by: wallacehobbs on September 27, 2008, 10:28:19 am
Since Obama says he is going to RAISE Taxes on anyone making over $250K a year, and RAISE Capital Gains Taxes on us.  :bs

I wondered how many of my other fellow full time investors feel about this?

Whats your take on Obama's Plan? 
Title: Re: $250,000 and Above Attack!
Post by: Dave T on September 27, 2008, 06:54:10 pm
Regardless of your income tax bracket rate, your federal income taxes are going to increase anyway under current law without any assistance from Senator Obama.  Between now and January 1, 2011


The Obama proposal is to only allow the increases to take effect for the high income earners.  The McCain plan is to keep the current tax brackets and capital gains rates in play for everybody.

The Washington Post reported that under the Obama plan, taxpayers earning above $250K will see a significant increase in their tax bill in 2009, while the McCain plan gives these taxpayers a net reduction in their 2009 tax bill.  Taxpayers earning between $111K and $226K will see a reduction in their 2009 tax bills, although the McCain plan makes those reductions slightly larger than the Obama plan.  Taxpayers earning less than $111K, will still see reductions in their 2009 tax bills, but the reductions are larger under the Obama plan.
Title: Re: $250,000 and Above Attack!
Post by: kdhastedt on September 28, 2008, 07:42:02 pm

Didn't you get the memo, Wallace?  If you earn more than $250K, you're not only rich, you're a capitalist pig and you'll be getting your ill-gotten gains "redistributed".

Hey, it's the Socialists' mantra...

Keith
Title: Re: $250,000 and Above Attack!
Post by: wallacehobbs on October 29, 2008, 10:31:46 am

Didn't you get the memo, Wallace?  If you earn more than $250K, you're not only rich, you're a capitalist pig and you'll be getting your ill-gotten gains "redistributed".

Hey, it's the Socialists' mantra...

Keith

Keith, Yes I got it.  But from all reports it looks like the guy is going to win   :rolleyes