The opinions expressed herein are my own personal opinions and do not represent my wife's view in any way.

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 Sunday, April 06, 2008

Well, I have been a Republican since I immigrated to the United States in 1991. It was a simple choice for me really, I just did not believe that people that don't work hard should enjoy the same benefits in life as those that work their butt off.  There has to be a difference between these two categories.  I could never force someone to work extra hours or study very hard to become somebody but I reject the notion that they deserve to be at the same level of standard of life of those that do.

That said, this is the first time I am contemplating voting for a Democratic President, Barak Obama.  I like this guy!

President of the United States of America for me is not really a Job, it is a title.  I expect the President to be surrounded by a lot of very smart people that are expert on the subject matter at hand to advise him.  My expectation is also that the President be smart enough to listen to them and make the correct choice based on their feedback.

For me, the President of the USA has to have "PRESENCE", when he or she speaks, people listen!  it is a gift, not everyone has.  I expect when my President travels abroad, citizens of other countries receive him in awe, respect and admiration.

You have to be able to tell that you are listening to the most powerful man in the world from the most significant country in the world.

Barak Obama gives me that feeling.  Very elegant speaker and a convincing one for sure.

MCCain stands for all that I believe in, I am with him on Iraq (I think I am qualified on this as I spent more than half my life in the middle east and I know how things work there).  I am also with him on the latest economy issues like bailing out consumers on the mortgage crisis.  Why? Why should the US Government bail citizens out that made bad choices in getting ridiculous mortgage deals that they can not afford, why should I be paying for that?  And what about my mortgage and my good choices, I get nothing for that?

So it was hard this year to find an easy answer of how to vote, until I decided to do what I am good at and use numbers:

Capital Gains Tax:

  • MCCain -> 15% (no Change)
  • Obama -> 28%
  • Clinton -> 24%

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%
  • Clinton -> 39.6%

How will this affect you? If you have any money invested in 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 or Clinton become 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."

Income Tax:

  • MCCain -> No Change
  • Obama -> Reversion of pre-Bush tax cuts (Very Significant)
  • Clinton -> Reversion of pre-Bush tax cuts (Very significant)

Inheritance Tax:

  • MCCain -> 0%
  • Obama -> Keep the inheritance tax
  • Clinton -> Keep the inheritance tax

How does this affect you? Many families have lost businesses, farms and 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 not only lose them to these taxes.

New Taxes being proposed by both Clinton and 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!!!

So although I like Obama as a person very much, I am afraid I can't afford him!  Go MCCain!

Sunday, April 06, 2008 6:19:40 PM (Pacific Standard Time, UTC-08:00)  #    Comments [3]   Business | Family | Humor | Life  | 
Monday, April 07, 2008 12:12:59 PM (Pacific Standard Time, UTC-08:00)
I hear ya, man. I was rooting for Ron Paul. Since he isn’t in it, I like Obama better than McCain, too. That’s coming from a conservative-ish libertarian.
Monday, April 07, 2008 12:25:59 PM (Pacific Standard Time, UTC-08:00)
I think Adam missed the point - "I like Obama better than McCain, too" does not exactly reflect the sentiment expressed in the last line of the main post.

That said, we are (yet again) in the unenviable position as voters to pick the "least repugnant" choice for president, the one we believe will do the least harm to the country over the next four years. Unfortunately, although "least harm" might be loosely construed as the "most good", I'm afraid that it's going to be a long four years. I'll hold my nose and vote for McCain, if only to elect a president who at least pledges to keep taxes in line, rather than promising us increases-for-sure.

P.S. - I love the "live comment" preview - very nice!
Rick Miller
Monday, April 07, 2008 6:52:42 PM (Pacific Standard Time, UTC-08:00)
Hey Lino,

Love your Delphi work, but you have some errors in your points:

1) Capital gains will not levied against the selling of your primary residence unless it is several million dollars (even then you will only pay cap gains on the amount above the threshold). Secondary residences are affected however.

2) The dividend tax will not affect IRA's or 401(k)'s. That money is sheltered from income taxes until it is withdrawn.

3) Will only note that McCain did originally oppose some of the tax cuts as fiscally irresponsible as it contributed to the nation's deficit

4) Inheritance taxes have a pretty high threshold's before they kick in (at least 500,000 for non-farm, over a million for family farms -- I do not have the exact numbers, but anyone can google for them if interested)

5) This is kinda a grab bag, and the proposed taxes must be evaluated on their individual merits. I will respond to two of your examples with which I am familiar:
a) A gas tax could be useful to spur fuel efficiency and provide funds for transportation projects. In addition to helping, perhaps, to reduce emissions that contribute to global warming.
b) A socialized (ie. universal) health care plan could actually help US competitiveness as it would remove the ridiculous burden from businesses of having to provide health care to their employees. (Note that this little rebuttal barely scratches the entire health care debate, but I could not let it pass)

On a broader note, I think that all would agree that the 1990's were a prosperous time for the US, and that the 8 years of the Bush administration has resulted in a diminished stature of the US in the world. Given the contrast between these two states, I think the logical choice would be to return to the set of policies that governed the nation in the 90's. Policies which would be more likely implemented by a Democratic administration than a Republican one.
Sean Fisher
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