Obama's Capital Gains Tax "Fairness"

[sanjoseguy527]

OBIGOT is a SOCIALIST MARXIST COMPULSIVE LIAR & RACIST BIGOTED TRAITOR. THIS BIGOT WONT SURVIVE NEXT ELECTION.

[BestfarmerBill]

Let people who earned the money "invest" it in the way they want to rather than the government confiscating it and giving it to corrupt solar panel companies who never were legitimate in the first place, you fraud!

[Meade556]

@BestfarmerBill Companies will fail and in the case of Solyndra they were not bailed out. They were killed because the Chinese are far more generous than we are. Even so that Energy Department program has saved or created 43,000 jobs and only half the money has been spent, it was only expected to create or save 66,000 it is ahead of schedule.

[BestfarmerBill]

@Meade556 Not bailed out? The whole company was one big government venture, you mentally constipated individual! China is communist. If that is what you expect out of America, then you really need to read the constitution. This is a representative republic. Capitalism is what it is based on.You must be public school educated (indoctrinated).

[Meade556]

@BestfarmerBill Actually no the Government just gave a start up loan, in fact the second company of its type to fail was one in Georgia that was given a loan by the Bush Administration. It has ever been in the tradition of American government to work with the private sector to develop nascent industries and we should encourage that, my own company should start getting involved in Green as well. Actually Capitalism is an offshoot of the Republic not the reverse.

[BestfarmerBill]

@Meade556 Government should stay out of all private business. So you want to be part of the fraudulent "green" government money grab? The whole concept is such a farce. You are not going to save the earth any more than I am going to destroy the earth. You are not God and neither am I.

[Meade556]

@BestfarmerBill Stay out of private business? The Government, since the dawn of the Republic has intervened against, for and worked with business. It is written into our constitution with the Commerce Clause. The Washington Administration was more activist and tax heavy than the British. This is not a money grab since I am a taxpayer, but also an informed person who knows that all the evidence points to us needing to undertake Green measures for our children.

[BestfarmerBill]

@Meade556 Government has grown exponentially since our republic's inception. You must be reading one of those revisionist history books the liberals want to indoctrinate our children with. Our founding fathers would be appalled by what we have become. All that will result from your silly green measures is that you will hand your children a landfill sized pile of debt as a result of feel good, save the earth policies. I'm all for efficiency, but spending like fools to save the earth,not

[Meade556]

@BestfarmerBill Yeah and the framers left us vast scope to expand because they did not mandate what Government programs could and could not exist. The only part of Government they sought to restrict was National Defense, which has grown exponentially. Anyway our green spending is a tiny fraction of the Federal budget, maybe 20 billion dollars, we spend that in two months on Afghanistan.

[BestfarmerBill]

@Meade556 So our framers sought to save mother earth but had no interest in protecting our nation?

[Meade556]

@BestfarmerBill To the contrary, national defense is a specifically enumerated power but there are guards against the Police and the Federal National Security apparatus having too much power in the first nine amendments. Alexander Hamilton was far more molly coddling to business with his subsidies than Obama has been with the LOANS he gave to companies, a policy of the Bush Adm, far more socialistic is what the Russians, Indians and Chinese do, just underwrite, we just loan.

[BestfarmerBill]

@Meade556 Another one of your green dream companies filed for bankruptcy after your idol president dope who blames invested our tax dollars in. Ener1 inc. only scammed the taxpayers out of $100,000,000 this time unlike Solyndra when the taxpayers were hooked for $545,000,000. Your children will get the bill from China.

[Meade556]

@BestfarmerBill Except $55 million of that was provided by President Bush and the Chinese by underwriting the entire operations of their companies are pricing us out, these companies would not be in so much trouble if we had tariffs which protected them. Not only would be get revenue, but our nascent industry would be protected. Ener1 also has not closed its doors unlike Solyndra, Chapter 11 is restructuring, GM was Chapter 11 it is not anymore.

[BestfarmerBill]

@Meade556 Obviously, according to your messed up logic, if every one in the nation would vote democrat, we would be living in a perfect utopia. GM should have been absolved of their union commitment for ridiculous pension benefits in a true bankruptcy proceeding. The government involvement was to protect the union. I don't believe the information you are feeding me to be credible.

[Meade556]

@BestfarmerBill Republicans when faced with the facts and logic behind global climate change get all emotional so don't speak to me about being logical and rational. In the bankruptcy proceedings the unions sacrificed a lot. They held 40% of GMs bonds and suddenly they became the new shareholders and everything they had was on the line. Their members accepted pay cuts and benefit cuts, workers are now paid $15k less than before Chapter 11.

[BestfarmerBill]

@Meade556 And they are still paid more than the marketplace would support compared to other manufactures who aren't held hostage by a union.

[Meade556]

@BestfarmerBill Tell me what is wrong with a union? What is wrong with a salary and good benefits? The more companies have thrown people off health insurance the more its price has gone up, inevitably when there are not enough buyers prices will go up. Furthermore 30-45k is not very much, especially given the skills you have to have to put together something as sophisticated as a car.

[BestfarmerBill]

@Meade556 You have absolutely no understanding how the marketplace works in a free market society. Unions distort normal supply/demand balance. You also price yourself out of a job, especially in today's global marketplace. Health insurance should be paid by you, the policy holder. When a third party pays the premium, there is no incentive to keep costs s down as the consumer. Being a self employed dairy farmer all my life has CLEARLY made me understand this. Not free, or entitlement.

[Meade556]

@BestfarmerBill The Department of Agriculture hands out billions worth of subsidies and there are loads of protectionist measures in place so you are where you are in large part due to the Government. Furthermore buying as a group rather than as an individual bids down the price, just like buying in bulk. Furthermore because of the need to minimize costs Governments and Corporations will watch their money carefully

[BestfarmerBill]

@Meade556 The subsidy I could have received last year would have been less than 1/2 of 1% of our gross farm revenue. I am a HUGE advocate of shutting down the Farm Service Agency and eliminating all farm subsidies. Have bought group health insurance in the past through the co-op we ship our milk. It's maddening when you have gone to a $10,000 deductible and purchase insurance for the sole purpose of protecting your assets and pay routine visits out of pocket. Then told it's going up.

[Meade556]

@BestfarmerBill Exactly you are buying through a Co-op, which in my experience is cheaper. Nevertheless you still got a subsidy, a subsidy is a subsidy from my tax money as I get no subsidies or assistance, I happen to think small farmers need it, but don't go attacking Medicaid, Medicare and Social Security when those are life and death for millions of people.

[BestfarmerBill]

@Meade556I am a small farmer. Don't want any help from anybody, government or private. I will survive, or fail, all within the context of the marketplace. I expect the same from you! I subsidize you every time I pay a health insurance premium. I, in effect get nothing out of it, but pay for all the others who go to the doctor and don't ask questions because they are not paying the premiums. Get it yet?

[Meade556]

@BestfarmerBill When we pay into insurance we are all paying for each other that is how any insurance system works, if you think that you are alone in paying premiums you are not, that is just how it works, I on the other hand am grateful for Government controls as a result of the new law which mandate that companies spend more on care and less on their executives.

[BestfarmerBill]

@Meade556 Missed my whole point. I'm the poor soul who pays in by writing my own check. Too many others never personally pay for the premiums and doctor visits, thus don't care what it costs. If you paid every month you would start asking questions when going to the doctor. Also shop around for the best deal like any other single party consumer driven commerce. I get a letter annually explaining how my premiums are going up again because costs increased. It's not me,never made a claim.

[Meade556]

@BestfarmerBill And the company writes their own check and have auditors who watch how that money is spent, the point is a group purchasing can negotiate for better prices than an individual.

[Meade556]

@BestfarmerBill Our problem is that so many people have been thrown off health insurance pushing the price up and Medicare was, until Obamacare, not priced according to the Marginal Cost of Production, it now is.

[BestfarmerBill]

@Meade556 People don't think it is their responsibility to buy health insurance and companies can no longer afford it because of entitlement mentality. If your employer had paid your food/housing/automotive/life insurance/fuel/clothing/etc, pick one, then that would be a crisis in our country right now. When you distort the 2 party marketplace, you are destined for trouble. That's why unions don't work, nor does 3rd party payer insurance.

[Meade556]

@BestfarmerBill Hardly, Unions are a Party, Unions are just working people getting together and standing up for themselves, health insurance is a lot more expensive than most of those others and what entitlement mentality do you speak of. HMOs certainly, they do not charge at the Marginal Cost of Production whereas other countries do which is why Germany and Japan have cheaper and better health insurance. Before 1980 you would have gotten a housing subsidy.

[Meade556]

@BestfarmerBill Corporate problems with healthcare costs stem from the way that there is no Government control over the way they are allowed to charge for services, naturally they all head for the most exploitative path possible because there is nothing anyone can do to stop them. In any case a company will watch its own money like a hawk, so they have every interest in minimizing costs, the problem is the absence of Govt regulation on how people are charged.

[Meade556]

@BestfarmerBill Incidentally a million jobs is more than a union, given the multiplier effect, particularly for something as vital as the auto industry a million jobs lost there translates into 1.6 or 2 million jobs lost.

[Meade556]

@BestfarmerBill The Commerce Clause and the taxation clause give Government powers to expand so things like Dept of Edu and Dept of Eneg are constitutional, whereas a lot of the provisions of the PATRIOT ACT and the recent NDAA are not.

[keishiichan]

obama's idea of "fairness" is in fact, punishing americans that work like motherfuckers, so they get a higher income. this is BULLSHIT!!!!

[Kylehintz87]

Fairness, not tax revenue. But Fairness. Booo!

[SpinCage]

Ghetto economics: Obama's only contribution to America.

[YouMockMe]

A fair tax? ...why not just do the "Fair Tax" where everyone one is taxed the same 12-14%

[uiluj13]

@YouMockMe that would be great if the deficit didnt exist.

[asleeperj]

The capital gains tax is now 20%. Thank you progressives. Now every dollar i invest, from the money LEFT OVER from my paycheck AFTER Social SECURITY, (i'm 25, and will NEVER SEE A DIME) Medicare, Medicade, INCOME tax, AND all my OTHER EXPENSES, I then have to fork over to the federal government 20% what i make on the little money left i have to invest. THIS IS RIDICULOUS. This is a war on the middle class. I have to remember to be civil about this. GIVE ME A BREAK!

[mjbarrowful]

@asleeperj And you didn't even mention that the Capital Gains tax isn't even adjusted for inflation!

[uiluj13]

@asleeperj it's 15% genius.

[Meade556]

@asleeperj Like hell and you pay sales tax, quit your whining, income is income and should be taxed as such and the Capital Gains tax is 15%. 15%!

[Adrift247]

@Meade556 Exactly. Why should people who work for a living pay more taxes than people who don't? Income is income. Even Reagan raised capital gains taxes to equal income taxes, because he understood fair is fair. It was Papa Bush that talked him into lowering it again. Then dumbya lowered it to 15% and put the taxes on the middle class.

[Meade556]

@Adrift247 In fairness it was not Papa Bush it was our own Bill Clinton who decided to do it to keep cordial relations with the Gingrich Congress, since they were getting desperate having been thwarted at every turn and because of the stock market bubble, the cut slowed but did not stop an increase in revenue from this source. It was wrong at the time and it should be fixed. This is not a tax on 401ks. This is a tax on people who earn income, it should be the same as a wage earner's

[CaptainCocaine]

I guess those big ears don't help his hearing at all...

[utoobia]

This should have been a huge clue-in to this man's economic idiocy. He's OK the Gov't would probably bring in LESS money, in order to make things "FAIR"? Jesus. How exactly does this help the secretary he mentions? Yeah, that's right, it doesn't...it hurts that person too. Whenever you hear a politicain use the word "fair", run for the freakin hills.

[broadcastmyass4u]

they put an image of a black man up to act out there moronic attempts to better the economy by only making it "worse" for the people and better for the government BY the government and for the government, shouldn't the people be somewhere in that?. Just bend over and let them fuck you in the ass like a good little bitch and shutup. You want some taco with that sauce?

[MrYoungIndependence]

I'd like to remind Obama that in the mid 1990s and 2003, the US government reduced Capital Gains Tax. On both occasions, it was beneficial to the government because there was more of an incentive for people to invest in Capital Gains.

[pirucreek]

Capital gains tax is the worst tax of all. I can handle inflation tax, but capital gains tax is pure evil.

[MsTheresaKelly1]

@pirucreek The capital gains tax is as evil as the income tax, actually the income tax is totally illegal. I stopped paying it last year. Your income tax dollars go to fund war and I'm against the war in Iraq and Afghanistan. I'm in on the tax revolt. Goverment has abused our tax dollars and I'm not paying them to abuse me!

[flightstudios]

wow...

guys...

we need to turn this stuff around. If you plan on working and making any money in life and investing, you will be punished with huge taxes including the capital gains taxes.

Rise up!, it is time to fight back.

we CAN do it!

and btw, @Unclesamslair,

Mccain and Bush do not want to punish the poor, they want the poor to have an incentive to work and make money and pay taxes, and not live off of the government, if they do.

WAKE UP AMERICA!!!!!!!!!!

[TheCanCollecter]

New Obama Video.

watch?v=EPyKUuyK_sM

[Unclesamslair]

mccain and bush want to punish the poor and give to the wealthy.

[TheJon117]

life isn't fair! Boo Hoo. These people who talk about fairness exclude themselves because they're smarter than you and I. So obviously we should listen to them.

[slvrserfr]

Its bad enough they can't manage Medicare or Social Security, two government programs that attribute to a large portion of the national deficit, now they want to take more of the profits people make for putting their own money into company shares. They should be charging the 57,000 Americans with UBS accounts withholding over 47 billion in those Swiss Bank accounts they recently found, not the 100 million plus average investors trying to prosper. The tax should be tiered by a ratio if anything.

[slvrserfr]

This is the only way he would be able to bring down the deficit. On the flip side, the Obama budget team projects that it could help decrease the deficit by more than $1 billion in fiscal year 2010, $5.4 billion in 2011, $12.2 billion in 2014 and $19.9 billion in 2019. The only reason he hasn't done it yet is because the stock market it extremely volatile at the moment, but I can almost guarantee that these are his intentions once the economy stablilizes.

[NawwLeans]

We have rewarded bullshit - stock manipulation, naked shorts, credit swaps, all the financial bullshit.

We have punished work -- punished small business income - punished self employed. And we still do.

The stupid tax system, which encouraged and subsidized bullshit financial maniplation, overheated the stockmarket, over heated the housing market -- till our economy was a house of cards.

Our economy was bullshit house of cards.

And one big reason was the corrupt tax code.

[NawwLeans]

Why should a guy who spent 10 years learning to be a brain surgeon, or a plumber, or a roofer, and who works their ass off -- pay 300% higher taxes than a guy who buys Chinese stocks and makes the same income?

No one can fuching answer that -- but that's how our tax system works. It punishes work and small business -- it punishes ordinary income.

God bless those who can make profit on Chinese stocks, or any stock. But quit screwing work.

Screwing work is how we got in this mess.

[jaredDeMuth]

Our tax system sucks everyone that works knows that.Insurance and financial companies and shady bastards. The housing market is fragile and touches so many people from the plumber & roofer all the way to the shingle factory worker. Keeping houses affordable and moving can save jobs and this country. But robing Peter to pay Paul is a dangers idea. I build houses myself(no wage)to keep my cost low to the buyer. sure i can add 30,000 to my house as labor but now I have to get it back after the sale

[jaredDeMuth]

and thats the best case scenario. If the bank gets it back and just unloads it, im reliable to make up the losses. That house that started this discussion now would need to sell for 30,000 more(would appraise around that) now you have no wiggle room for negotiations. Even though we disagree on the effects of changed capital gains I think you would like this book. The FairTax Book, by Neal Boortz. Reform needs to take place and the Govt need to work for us not us for it...

[NawwLeans]

I know you pay capital gains on assets --- and the HIGHEST FUCHING CAPITAL gains tax is 15%

.

Here is a clue --if you made that SAME money but worked for it -- in a small business, or wages, or self employed, you would pay up to 45%.

Im trying to compare how fuching LOW capital gains bullshit is, to how high tax is on work.

And then you mention how much realtors charge, or the interest, closing cost for loans.

Capital gains is too low - tax all income the same. Quit screwing work

[jaredDeMuth]

I am a multi-job person First work for Landscaping(family dayjob), build spec houses(weekend and winter job), and a freelance graphic designer(nightjob college BS). I love to work.You can thank the lazy douches that work the system for your high taxes in small business not unfair Capital gains tax. Unemployment benefits r too easy to get in the US. Capital gains is a double edged sword.Are u prepared to give half of inheritance (ur families blood sweat and tears) to the Govt.Thats capital gain.

[NawwLeans]

Charlie is spewing lunatic, but oft repeated and believed, lies.

[NawwLeans]

Obama is right. God bless Capital gains, leverage buy outs, credit swaps, naked shorts -- all those bullshit tricks to skim money. God bless it. But quit screwing ordinary income by taxing it so high. Capital gains pays little or not tax -- while real work, real risk (self employed) and real job creation (small business) are taxed 300% higher than cap gains.

Obama is wrong -- we should triple capital gains taxes. We should tax it like we do work and small business, let the market work.

[jaredDeMuth]

A replay to Iti12. That house built for $150,000 and sold for $200,000 looks to have a profit of 50,000. Now that the Obama is talking about a capital gains tax of 50% your profit will shock you. First after the sale you will have a $20,000 realtor fee then a 6% interest payment on the loan to build that house. Thats another $9,000, add them up is $29,000. Thats before capital gains which is out of your total profit of $50,000. Thats right you just lost $1,000. Kiss the housing market good bye

[NawwLeans]

Nonsense idiot. The tax on homes is zero, idiot. I made a lot of money (to me a lot) on selling homes. I paid no tax on it, none, zero, nada, cause it was my house. Don't come to me with that crap. The only ones who are taxed high in US are those who work for their money -- ordinary income.

[jaredDeMuth]

If you own a house for more than 2 years than you dont pay capital gain tax. If you you are a realtor and just sell a house it goes as income not capital gain. Do you know what Capital gain is? Im in the housing industry and build homes and then sell them so I know what im talking about. I dont know what country your living in but its not this one. If you build a home to sell you must pay capital gains, THATS A FACT. I suggest you look it up before calling the truth crap. thanks 4 the reply.

[NawwLeans]

Jared-- are you mental? I've sold houses for nice profits - and enver paid a dime taxes. Legally. If its your own house, you don't pay a dime of taxes of ANY kind.

And if its NOT your residence, but you sell it for a profit -- you are taxed as low as 5% -- thats right, capital gains start at 5%

If you made the same money by working for it, you would pay huge taxes.

Capital gains should just be called income, and tax it the same. Let the market decide how you make your money.

[jaredDeMuth]

Like I said in my 1 reply, you need to own the house for 2 or more years, and be your permanent residents to be exempt from capital gains. I Have Built more than 12 houses and deal with the closings and legality of it on a day to day bases. If you build a home to sell right away you must pay capital gains, because the profit you make is Capital. Did you watch the video,capital gains is 15%. My house break down is if he raises it to 50% which he has talked about. Talk to you later.

[scola91660]

Obama is totally full of shit.

[delyshBB]

lol, what's amusing tho is that the retard thinks that some paying MORE on the SAME or LESS services from the US government is FAIR! :))

[BrianTheSaxon]

Obama's answer is a perfect example of putting ideology before common sense. The moderator told him repeatedly that when capital gains taxes go up, tax revenue goes down. But since that information didn't jive with Obama's far left ideology, Obama simply couldn't comprehend it. When the moderator basically rebutted Obama; Barack comes back with a vague and flubbed answer mumbling about "what they do on Wall Street". Capitalism is about wealth creation, socialism is about wealth redistributiom

[Zoltani]

Liberalism is a mental deficiency ...

[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?

[illbesoome]

I believe it would apply for all states and it will be "capped" at 20% (according to Obama's tax plan).

[polartortoise]

it would only be on the 50,000. and its federal, so it doesn't matter what state you are in. But i believe there are ways not to pay capital gains on home sales if you use it to buy another house.

[rocketeer777]

lti12, the tax is on the gain in value ie on the $50,000 in value increase

[attie3]

people tell me this is it a good thing that the Capital gains tax go down or what?

[AmericanDreamer1]

I haven't found anything anywhere that shows Obama would NOT raise capital gains tax on small investors (such as day traders).

**

Obama confuses the issue: "no raise in taxes for those making less than 250K/year" but he is talking about Pay roll taxes, NOT capital gains tax.

**

Also, when the Bush tax cuts expire, they will go up AUTOMATICALLY without him doing anything (Thus he will be able to say that "I didn't raise taxes" while at the same time taxes would effectively be raised anyway)!!

[PalinBOOBS]

he said it in the first debate vs. McCain. 'small business will not see an increase in capital gains tax'

[illbesoome]

So SB's are excluded even if their revenue exceeds 250k?

[AmericanDreamer1]

I haven't found anything anywhere that shows Obama would NOT raise capital gains tax on small investors (such as day traders).

**

Obama confuses the issue: "no raise in taxes for those making less than 250K/year" but he is talking about Pay roll taxes, NOT capital gains tax.

**

Also, when the Bush tax cuts expire, they will go up AUTOMATICALLY without him doing anything (Thus he will be able to say that "I didn't raise taxes" while at the same time taxes would effectively be raised anyway)!!

[openbrains]

To Daydreamer: You are right. Obama wants to raise capital gain tax almost to Clinton years rates.

And it worked back then. Day traders were paying their fair share. And the market never was better.

Daytrading is a job and should pay the same rate as other self employed ands wage earners, up to 35% plus 15.3% social security.

[AmericanDreamer1]

"And the market never was better."

WRONG:

The clinton years was propped up by what Allen Greenspan called "irrational exuberance".

** "Daytrading is a job and should pay the same rate as other self employed"

WRONG AGAIN: There is such a thing called "risk premium", meaning you are rewarded for risking your money. Investing involves much forecast & uncertainty

Working 9-5 doesn't involve risk, but being an entrepreneur or investor does, and demands very good Judgment all the time!

[openbrains]

Yes, soak the wage slave to 35% tax rate. No risk.

Yes conservatives: make sure every one of those wage slaves pay their tax on tips.

And vote down any minimum hour wage increase.

Yes, conservatives: eliminate the inheritance tax, eliminate the capital gain tax, lower the over $250,000 rate,, reduce corporate taxes, dividends, subsidize big oil.

An then cry that the Democrats want to raise taxes on the average person.

And tax social security income, barter income.

[RPISean]

The current rates of 5% and 15% have been extended through 2010. This was done with H.R. 4297 from the 109th Congress.

The previous rates of 10% and 20% were set in 1997 under H.R. 2014 from the 105th Congress.

Look up the Library of Congress website, enter the "THOMAS" section of the site, and you can search for the bills for reading (make sure you're searching under previous Congresses).

[mtoasty]

Is there any doubt that this man is a socialist?

[RPISean]

Yes, is there any belief that he is? I certainly haven't seen anything that would lead me to believe so, and I've been searching for a long, long time.

[AmericanDreamer1]

Then why does he keep dodging the question;

"why increase Capital Gains Tax if historically it DECREASES revenue -- scaring off investors, AND 100 million Americans are invested in the Stock Market (to include many retirees)?"?

ANSWER THAT QUESTION!

[RPISean]

Of course there would be an instantaneous decrease in revenue, this is because most people with assets sell while the rate is lower if they know an increase will occur. However, history also shows a subsequent increase - people know they can still make millions, so investing does actually reach and exceed previous levels. Note that since 1990, the largest percentage increase in CGT revenue came in 1996 - the tax rate was 28%. The increase was SMALLER in 1997 when the tax rate was lowered to 20%.

[RPISean]

Take a trip over to the Congressional Budget Office site, they have some good documents showing the changes in capital gains and capital gains tax revenue and you can match the numbers up to the rate changes.

[AmericanDreamer1]

So then why the F--- does he dodge the question?

And why doesn't he extent the Cap gains tax of 15% to the Small Investor (making less than $25,000)??

Rich people arn't the only ones in the Stock Market...

[RPISean]

I'm not sure what you're saying here. The current capital gains tax rate goes as low as 5% for those in the 10% and 15% tax brackets (that's up to $32,550 for a single person - regular income tax). Are you saying Obama should increase the rate for these people to 15%?

As for his response, it's obvious he didn't know a whole lot about the situation when asked. This happens a lot to politicians, they have to know about a lot of different subjects, but they aren't exactly experts in each area.

[AmericanDreamer1]

" The current capital gains tax rate goes as low as 5% for those in the 10% and 15% tax brackets (that's up to $32,550 for a single person - regular income tax)"

But, I understand that the 10-15% on Cap Gains is from the Bush Tax cut, (which will expire) leaving us with Obama's rate of 28%, regadless of being small investor. **

If you Show me evidence that obama won't screw small investor with 20-28%, then I will vote for him. Deal??

[RPISean]

The expiring Bush tax rates bumps the top capital gains tax to 20% and 10% for those in the 15% bracket. In other words, the small investors will only see their capital gains tax rate go to 10%, not the top rate.

[AmericanDreamer1]

Show me.

What website?

give me the URL.

[openbrains]

in order to encourage small business, reduce the tax to self empoyed to 5% and no social security tax. than $250,000.

(substitute small business owner for stock market)

"Let me explain: its hard enough to make money in the Stock Market, but on top of that you must pay taxes of almost 1/3 ?!

Thus, there is insufficient reward for the given level of risk...therefore buying stock isn't as attractive."

[AmericanDreamer1]

I haven't found anything anywhere that shows Obama would NOT raise capital gains tax on small investors (such as day traders).

**

Obama confuses the issue: "no raise in taxes for those making less than 250K/year" but he is talking about Pay roll taxes, NOT capital gains tax.

**

Also, when the Bush tax cuts expire, they will go up AUTOMATICALLY without him doing anything (Thus he will be able to say that "I didn't raise taxes" while at the same time taxes would effectively be raised anyway)!!

[openbrains]

Day Traders should have the same tax rate as Horse race gamblers. That is income taxed as ordinary income. I don't see the difference between speculating on widget stock (Short term capital gain-15% STCG), or

speculating on a small business manufacturing widgets(35% +15.3% SS).

The speculators in stocks, land, or homes has taken this country to its knees.

But don't worry. The Republicans wil rescue the banks, and brokerage houses.

And try to drop the rate to -0- for STCG

[AmericanDreamer1]

"Day Traders should have the same tax rate as Horse race gamblers."

YOUR IGNORANCE;

Gambling and investing are two DIFFERENT things.

**

"I don't see the difference between speculating on widget stock"

YOUR IGNORANCE;

We use free markets to determine the value of things (commodities, stocks, oil), that's capitalism,.

Interference of this open & free valuation system (excessive taxation) disrupts the true valuation of goods & services, which values according to demand & supply.

[openbrains]

aMDream-Daytrading is not a real job and contribute nothing. At least in prostituion, two people are happy one way or other.

Daytrading makes only you happy.

Hard working teachers, professionals should pay 35% plus SS, and pay off the deficit, and you should pay 5%??

I know you think like a Republican, but try to think like a human.

Churning stock has disturbed the real value of stock, and the stock market.

Day Churners only see greed,

Not how this company will benefit society.

[AmericanDreamer1]

"The speculators in stocks, land, or homes has taken this country to its knees."

WRONG AGAIN;

Everyone knows it was because of irresponsible lending, Banks & Mortgage brokers being too greedy.

[AmericanDreamer1]

You ignore the fact that when taxes are higher, risk taking becomes less profitable (for the buyer of stock).

Let me explain: its hard enough to make money in the Stock Market, but on top of that you must pay taxes of almost 1/3 ?!

Thus, there is insufficient reward for the given level of risk...therefore buying stock isn't as attractive, so the stock market will always have downward pressure.

If you still don't "understand" the above, then you are just a blind & bias obama supporter.

[RPISean]

Sure, investing becomes a little less profitable. That still doesn't stop people from investing. Look at the documents at the Congressional Budget Office website, they explain the situation with great detail (it's clear that you haven't looked yet, since your arguments are just opinions and extraneous facts).

An increase in the capital gains tax rate has a small effect on the cost of capital, and it may surprise you that the stock market is not the only component of our economy.

[openbrains]

I agree on capital gains tax.

When Republicans tout that Democrats will raise taxes, they are inferring that the average wage earners federal income taxes will go up.

When they interview a 20 year old , and say do you know that the Democrats want to raise your taxes,they lie. This is not true! This audience is not in the stock market.

Its a twisted lie.

They only proposed tax is reverting to an increase in tax of earners over $250,000.

Why are Republcians such con artists?.

[scola91660]

Irresponsible lending made possible by guarantees for loans given by irresponsible government sponsored entities: Fannie Mae & Freddie Mac.

[AmericanDreamer1]

He is the most left-of-center of the Pres candidates, Higher taxes than clinton.

He extends his tax breaks to seniors, (but i'm only 30!)

[dedgod]

Change!!!!!!

[nitsu19]

Very interesting