Michael was correct - that article I copied from turns out to be from late '07. It seems he's changed some of his stratagy, but I'm checking on the home sale information to see if he's modified that plan.
From LA News:
Obama details capital gains, dividend tax plans
8:41 PM, August 14, 2008
Sen. Barack Obama's campaign on Thursday spelled out the details of the Democratic presidential candidate’s tax plan on his website and in an op-ed piece in the Wall Street Journal.
"I just wanted to note the basic proposals for capital gains and dividend tax rates here:
--- Families with incomes below $250,000 would pay current capital gains rates (a maximum tax of 15% on gains on assets held more than one year). Those earning more than $250,000 would face an increase -- a top rate of 20%.
--- The top dividend tax rate would remain the current 15% for those earning less than $250,000, but would rise to 20% for those earning above that threshold.
--- For single people, the tax increases above would apply to those earning more than $200,000."
Obama's tax proposed income tax cuts will aid the lowest income families, hit the upper income families ($250,000 year and up) pretty hard, but basically do nothing for the middle income families that are being wooed in Ohio. From the numbers I've seen crunched, these proposed tax rates won't begin to show any real effect unless a family income is under $25,000.
He's also proposing a $4000 tax credit for college students who do 100 hours of community service, but I haven't been able to locate details on it, so I can't relate that to a dollars-per-hour wage.
quick addendum:
Quote:
Sept. 9 '08
It’s untrue that Obama is proposing a 28% capital gains tax rate. He said in an interview on CNBC that he favors raising the top rate on capital gains from its present 15% to 20% or more, but no higher than 28 percent. And as for a 28% rate, Obama added, “my guess would be it would be significantly lower than that.” Furthermore, he has said only couples making $250,000 or more (or singles making more than $200,000 according to his policy advisers) would pay the higher capital gains rate. That means the large majority of persons who pay capital gains taxes would see no increase at all.
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A turnaround for the good perhaps, but still belies his stated, "Read my lips. No new taxes."
http://obamesque.wordpress.com/2008/09/09/will-obama-tax-home-sales-or-raise- capital-gains-taxes/
[This message has been edited by Jerry Glenn Hartwig (edited September 11, 2008).]