September 11, 2008

Obama on Capital Gains and Housing Foreclosures – in APRIL 2008

Posted in 2008 Elections, John McCain's campaign, Senator Barack H. Obama, taxes, U.S. Economy tagged , , , , , , , , , , , , at 1:24 am by realitytax

Well before we had to bail out mortgage lenders, Obama was trying to get people to pay attention to the foreclosure crisis… but the thrust of this segment is a clear answer to a toughly worded question about Capital Gains taxes.

 

Gibson tried to get him to back off his stance in the early spring, but here we are in autumn and he’s maintaining the exact same answers. Obama understood the pressure the housing market was under, he’d written to Bernanke and Paulson over a year earlier – in March of 2007. He gets how taxes and the credit crisis he saw coming relate to the larger structures of our economy overall.

Obama vs McCain on taxesSo, if you’re getting rumors in your email about Obama taxing water, or IRAs, or other accounts explicitly designed to be tax free, and wondering why the Wall Street Journal and Bloomberg prefer his policies?  Do your homework, because Obama has a clear understanding of our economy and the value of genuinely responsible “pay as you go” fiscal policies.

If you’ve heard Obama has a plan to double our taxes, or tax the profits from home sales or other capital gains at a higher rate than McCain? Find an objective, non-partisan source, and soak up the facts.

The media has no interest in informing you; they sell commercials to earn their living so they will entertain you and use the language of an announcer calling a horse race.  They are trivializing a critical national election, and hoping you won’t notice because you’ll be too awed by their fancy graphics and analysis – is this Monday Night Football, or an election for the U.S. President?

An informed electorate can pick the superior candidate.  You may or may not agree with my views, but you owe it to yourself, your family, and future generations to be well-informed before you vote.

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