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Turnpike boy,
Sure people who make $42K can leave inheritance and have capital gains.
Obama says he will not raise capital gains past 20%. And inheritance taxes will not be levied under $7 million per couple. How many couples making $42K do you think have estates worth $7 million? I don't like the estate tax and capital gains tax either, but I also think that most of america will do better under Obamas tax plan than McCains. I would get a tax cut of about $1500. Not so much a big deal for me as is is less of a % of my income than someone who makes $42K and is on a much tighter budget.
If a tax rebate for $300 is supposed to provide an economic stimulus, what is $1500 for every married couple who owns a home going to do? And the best part is that while those making over 250K will end up having to pay more (2-3% if I am reading the numbers correctly) they also stand to make a lot more back with business that are more profitable, and better returns on investments.
Steve
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