Obama Moves On His Capital Gains Tax Hike In One Month

[skimxfast]

real bubba, you are borderline retarded. you picked up the news paper and apparently received a degree in economics too, like many other liberals.

[pgthinker007]

Why are you arguing. Economy has been ruined all over the world.

Change you can believe in

Change you can believe in

Change you can believe in

CHANGE... CHANGE... CHANGE...

Yes we can

Check it out:

news[dot]bbc[dot]co[dot]uk/2/h i/americas/us_elections_2008/7 718603[dot]stm

[blackvipergs]

how fucking stupid. tax what is going down. when the stock market hit 4000 and no one is working to pay for free checking then we will see.

[xXxZEROxXx2]

Barack Obama - the next Jimmy Carter

ruining an economy near you..

[RealBubba1]

The economy has already been ruined by Bushtard and Cheney, read a newspaper dumbass.

[xXxZEROxXx2]

The economy has not been torn apart yet,

this guy is the one whos going to be doing the tearing.

[RealBubba1]

The economy has not been torn apart?

Bushtard and Cheney have lost over 1 Million jobs this year alone.

[Tchato89]

ROFL, "read a newspaper", that's exactly too much of what you have been doing

[buttersownsuall]

LOL. I agree with Tchat. Read a newspaper,eh? Listen to the media, huh? The same media that put Obama into office? The same yellow journalism that covered the malevolence of Obama's plans.

How about you stop calling him Bushtard? How about I call Obama a stupid monkey? It's idiots like you bubba who helped the economy into this crap. Instead of supporting Bush when times were bad you just sat on your ass and did nothing. That's what all the democrats did. You guys don't do shit unless your happy

[chocoholic156]

Hey fucktard!!! it was ruined by Clinton. You Democrats seem to forget that and put all your troubles on Bush. Pay attention to your history. Suck it up and try to do something about rather than keep complaining about the "terrible job" Bush did. By the way newspapers are covered by the media, which are completely biased.

[KripDrip]

Obama said he will need American people to pull America out from economy melt down, so when he got the job and needs his people help and support they chickening out, be strong and give up couple of dollar to get your country standing on feet again , and give the man the time support he needs, give obama a break, obama never said he will do it alone. he said he will do with American people help ,So where is the people promise???????????????????

GIVE HIM A CHANCE!

[RealBubba1]

Seriously Matt, go to a mirror, look yourself in the eye and tell yourself that you, Matt Berke, can get a job and move out of your parent's basement.

I believe in you Matt, I believe you can do it!

[RealBubba1]

Wow Matty, look at all those layers of denial. Your situation is worse than I thought. It's going to be very hard for you to look in that mirror and be truthful with yourself.

Here's an idea, skip the mirror for now, but the next time you're "gaming" (later tonight) hit the pause button and take a good look at the basement walls around you and ask yourself if that is where you really want to be.

Then send me back your answer.

[RealBubba1]

Apology accepted.

[RealBubba1]

Yeah, there's no doubt that I was 100% correct about you, based on your pathetic response.

[RealBubba1]

Another sad republican moron exposed for the world to see.

By the way, Rush is looking for you, he wants his #1 boy!

[RealBubba1]

Only a scared little child would mimic what it hears during an arguement. You really are a pathetic little boy.

Here's some advice for you:

Get a job, move out of your parents basement, and quit playing guitar because you suck at it and your parents).

[RealBubba1]

Seriously, how long have your parents been forced to support your tired, cliched, guitar hero dream?

It's time for Matt Berke to get a job and leave his poor parents alone.

Endlessly banging around your parents basement isn't healthy, but you already know that, well at least your parents sure do.

[espkh02]

this tax directly effects my business, if it gets up to even 20 percent its going to hurt bad. mccain says he will lower it to 7 percent, now 7 percent looks good, i can make some money at 7 percent!

[brentj30]

So, where is this massive redistribution of wealth coming from again?

Obama's tax plan states:

Capital gains rate 0% for SMALL BUSINESSES making UNDER $250K taxable income.

Capital gains rate for all INDIVIDUALS would be raised from 15% to 20% (5% higher).

INDIVIDUALS making over $250K tax would increse from 36% to 39.6% (3.6% higher).

This tax plan just returns us to Reagan's first term tax rates but with an added BIG boost to small business. A good plan.

Vote Obama/Biden 08!

[riidinghard]

Our founding fathers created this country in 1776. One of the big issues during that time was taxation without representation. Mr. Obama's tax hikes do not represent many working homeowners. Keep drinking this man's kool aid the Future America will pick up the tab.

[lti12]

I got a question, can someone help me out please. If I build a home and lets say it cost me $150,000 to build it, and then I sell it for $200,000. The 15% capital gain tax I pay, would that be of the $50,000 profit I got? Which is $7,500 tax after sale. Or is my capital gain tax going to be from $200,000, the sale of the house. Which I will have to pay $30,000 in taxes, and only take $20,000 profit. Also the %15 capital gain tax is that all across the USA, or is it different from state to state?

[comedyiq]

This guy is a joker!!!

[canyonclimber]

Capital gains is a major part of retirement investment. Basic economics education has been replaced by class-envy politics. Please do yourself and study compound interest and investment. Many people sell securities on a stop-loss to place their retirement funds in a more stable investment. When the government taxes those gains, it moves us more on government dependency during retirement; at the same time, it hurts the economy. Look at historical data and basic economics.

[cloud1003]

According to the numbers you actually save more under obama's tax plan vs mccain unless you make over 1 million dollars a year which I have to say I dream of but dont.

[infralord]

Single family homes in which the family has lived in for two years are not subject to capital gains taxes. So for the majority of citizens this really isn't a big issue, only the wealthy.  If you aren't living in it you're using it as an investment, it's pretty simple really.

[TracyII77]

Actually, starting with gen Xers (and to some extent baby boomers), our retirements are wrapped in 401k's. And many of them are Roth 401k's. That means that I will be paying capital gains taxes on my retirement, when I start pulling the money out. So are you saying that tax hikes should be directed at the retirement accounts of senior citizens? Because that is where the money is coming from.

[barbsadoll10]

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.

[barbsadoll10]

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)

[barbsadoll10]

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.

[openbrains]

barbiedoll is totally wrong.

Ignore posting.

Tax increase only effects over $250,000.

As for capital gains on stocks, short term capital gains should be at your tax rate, just like any other income.Why otherwise.

It worked very well under Clinton.

[barbsadoll10]

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

[barbsadoll10]

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.

[barbsadoll10]

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.

[barbsadoll10]

Proposed changes in taxes after 2008 General election:

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.

[RealBubba1]

It's time for the rich to pay a fair tax rate again, they've had it too easy under Bush(their little tool). The capital gains tax at 15% is a joke, especially compared to the 25-28% the rest of us pay.

[RealBubba1]

I tell ya what, I'll say an extra prayer in Church today for the rich people of America so they can somehow make it through this difficult and trying time.

[RealBubba1]

If a 4% tax increase on business income over 250K causes a business to fail then it wasn't a viable business to begin with and should be dissolved.

It's you who doesn't get it.

[RealBubba1]

You should continue to be a lacky for the rich, it's what you do best.

[RealBubba1]

Your're not wealthy or smart, that's obvious.

You do represent perfectly what the republicans want in their supporters, someone who is stupid and blindly follows the party line.

The proof is the fact that you voted for Bushtard twice.

You are another sad, mindless, wantabee.

[hotlavasoftware]

Obama needs much more money for his social programs and plans. Cap Gains on the stock holders and investment home owners it a good way to get it. What he does not seem to realize is many middle class people with 401ks and stocks will get hurt through his plans.

[frankclau]

"The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital from static to more dynamic situations, the ease or difficulty experienced in new ventures in obtaining capital, and thereby the strength and potential for growth of the economy."

JFK '63 - He KNEW CGT increase was a dumb idea!

Carter2 Has No Clue!

[mossretard]

what i dont like about this is not the tax raise (which I am totally opposed too) but the fact that this clip just proves the change and hope bullshit to be that bullshit. This guy is a line politician like the rest of them okay he wants to raise taxes then he says they wont go over 20 then wont go over 28% this is a clear lie here people his is no different than the washington establishment.

[doombunny305]

Some person: He explained what he said? What he said is he intends to tax anything and anyone who happens to make more than others - fiorst it was those over $200,000 a year and that is starting to drop. He is an economic nightmare waiting to happen - he will dry up capital for start-ups and dis-incent savings.

Obamummbler

[doombunny305]

McCain doesn't deserve a disability check? He's missed about 15 more votes than Hillary and Obama, you can't get Social Security until you RETIRE - idiot.

Barack Obama's earmarks this year $97 MILLION

John McCain's -0- Who is pork barrel?

[EdinHaglersville]

John "Three Checks" McCain claims to be fit enough to be president, but gets a disability check from the NAVY.

He also gets a government check from the SENATE, although he has the worst attendance record in the senate.

Third, he gets a SOCIAL SECURITY Check!!!

He doesn't return any of these checks to the Treasury (U.S. taxpayers). So, he claims to be for smaller government, but I guess that only applies to you and me.

** McCain is a one-man pork barrel project. **

NO COPYRIGHT: REPOST FREELY

[t0nt01982]

This is an ignorant comment. Im prior service and if you get injured in the military you get disability check according to the seriousness of the injury. He's senator, sooo he gets a government check. just like any other federal job. Social Security promised to ALL retires. A liberal promise.

[markilauren]

"My guess would be that it would be significantly lower than that" Meaning significantly lower than 28%. What's the point you're trying to make?

[someperson111]

He EXPLAINED what he said you fool