Is this Obama's or McCain's plan?

Question

Isn't Social Security supposed to be for this? And if Soc. Security isn't enough, then why not just fix it instead of creating a new program?

FROM CANDIDATE X's Economic Plan: ".....retirement security plan will automatically enroll workers in a workplace pension plan. Under his plan, employers who do not currently offer a retirement

plan, will be required to enroll their employees in a direct-deposit IRA account that is compatible to existing

direct-deposit payroll systems."

Isn't this just another way of having the government force employers to have more papaerwork and more laws to keep track of? Doesn't this create more government that will require more taxes to pay for?

Answer 1

To be honest, neither is great.  However, McCain is far better.

Answer 2

some people believe that social security was set up to track people's income.  1936? well ..it seems to have turned into a nightmare

along with medicare and medicaid..both are losing ground

Yes, the government is always finding ways to tap the American

workers more and more.  In the end every tax payer is going to pay

more and more as the baby boomers retire..the money has to come

from the workers checks..who else?

Answer 3

Clear example of B.O.'s progressive, socialist view that the Gov't knows how to spend your money better than you. Wake up people.

Answer 4

Forcing people to be ENROLLED and to have an IRA setup and available to them is a GREAT idea....     "forcing" deposits (and saying WHO makes the deposits) is a completely different issue.

Answer 5

Leave Social Security alone, it is not a investment, it is a boring term insurance policy that makes sure that if we get another Republican Great Depression that we will not have soup lines. It is not to be gambles with on the stock market. We don`t have the wages to increase the tax like Reagan did in the 80s so leave it alone. The baby boomers are just bump in the snake of social security.

Answer 6

the problem is you get a better rate of interest privately than you do from the government.it is my money,i should be able to put it in a higher yield account than what social security provides.

Answer 7

This sounds like Obama's idea. It will put small business out of business. It goes along with Obama's new tax plan.

CAPITAL GAINS TAX

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 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 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 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

(reversion to pre-Bush 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. This 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 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 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!!!