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John McCain's Tax Plan

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Information about John McCain's Tax Plan
Business-Finance

Published on October 25, 2008

Author: justheather

Source: authorstream.com

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John McCain’s Tax Plan : John McCain’s Tax Plan Helps His Wife and Their Rich Friends………. But does it help Average Joe and Jane? Cindy McCain “earned” more than $740,000 in 2007 in Capital Gains “income”. : Cindy McCain “earned” more than $740,000 in 2007 in Capital Gains “income”. What are Capital Gains? : What are Capital Gains? Capital gains may refer to "investment income" that arises in relation to real assets, such as property, financial assets, such as shares or bonds, and intangible assets such as goodwill. For Example: Joe and Jane WORK at a company and because they work hard, their company is successful. Their hard work increases the value of the company’s stock. How Does Cindy Earn Money? : How Does Cindy Earn Money? Cindy buys stock in the company where Joe and Jane work because her broker tells her it is a good buy. Joe and Jane work really hard and invent something really cool. Cindy’s stock increases in value because Joe and Jane are smart. Cindy calls her broker and sells her stock at a huge profit. Cindy has a capital gain -- just like that. Joe and Jane go back to work because they did not get a bonus and their mortgage payment is due. John McCain’s Tax Plan : John McCain’s Tax Plan John McCain would like to cut the capital gains tax in half. Cindy McCain would pay 7.5% in taxes on her UNEARNED capital gain. Average Joe and Jane would pay 7.65%in payroll tax and 15% in income tax. Average Joe and Jane pay roughly 22% of their EARNED income in taxes. Is This Fair? : Is This Fair? John McCain why does your tax policy favor your wealthy wife and your wealthy friends? John McCain if you believe in the fundamentals of the economy (you know those people working hard) why don’t you give them the same kind of tax break you want to give your wealthy wife and her friends? Are you an Average Joe or Jane? : Are you an Average Joe or Jane? THEN VOTE OBAMA in 2008! BARACK OBAMA'S TAX PLAN FAVORS JOE AND JANE NOT JOHN MCCAIN's WEALTHY FRIENDS

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