Election Day

As the election day approaches, there is a lot of anticipation of what will happen. As a conservative and a small business owner I am very concerned that Obama will win this election. I have already anticipated this scenario and have laid off some employees in fear that the taxes he is promising to impose will force me to do it then. It is impossible under the current financial scenario to hire people and pay them a living wage with all of the payroll taxes to pay. I do not understand how the government can expect small business to grow when they are burdening them with the tax base. It is already a huge burden.

Secondly, the reason Obama scares me is because of the repeal of the "death tax" breaks from the Bush administration. For those who do not know what this is, it is a tax on inheritance for the benefactors. Basically it works like this. A person works their whole life and acquires assets, they pay taxes on these assets during their life, they pay property taxes, capital gains taxes, and income taxes on these assets, then when they die and leave it to their children, or other benefactors, these benefactors are forced to pay an inheritance tax of as much as 55% of the value over $650,000.

many people are not impacted by this since their inheritance never exceeds this amount, but in reality it effects more than we realize. -

• A family farmer works his whole life tilling the land to feed his family, he dies and passes the farm to his children, with the price of land, it is not hard to surpass the federal minimum. Now his children must sell some land to pay the inheritance taxes. So their livelihood is compromised because they cannot farm land they just sold to pay the taxes.
• A family in California, where housing is so expensive, a parent dies and leaves their home that is debt free to their child. The child works a normal job, and is expecting to get a head start by having a home that is paid for, then they realize that the home is worth 800,000 and they have to pay over 400,000 in taxes just to keep their home. They end up selling their home to pay the taxes, and the child who should have a head start, now is set back with a massive debt.
  
• A family has had properties in their family for generations, now the patriarch dies and leaves assets to his children and grandchildren, the family property is sold to pay taxes.
  

The scenario is closer than we think, many, many people will be affected by this, and we were planning on using these assets to educate our children, not pay an unfair tax! Now our children will enter the working world heavily in debt instead of beginning debt free.

Obama scares me, his inexperience scares me, his position on issues scare me, his 2ND amendment stance scares me. He is running on a position of change is coming. Sadly, most who are going to be impacted by this change will be the ones who elect him into office.

Vote - and vote for McCain.