Obama: Raise Taxes, Capital Gains - "For Purposes of Fairness"

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jbranstetter04
April 19, 2008

Obama wants to raise the Capital Gains Tax "for purposes of fairness", even if we collect less money and run up more debt that China will buy up. This goes contrary to what he was saying about the "Bank of China Credit Card", and the part about paying down "some of this debt".

We will never be able to pay down our debt as long as Politicians know that they are able to spend money on the people in return for votes and do favors for Corporations in return for money making opportunities when they leave office.

I know he says that these are the kind of things that he will change, that part would be great, I just don't like all of the liberal policy changes and laws he would be making, like taking my guns away, free abortions for anyone any age any reason no parental consent or even notification, letting Iran have Iraq, raising taxes on the "Wealthy", and just his general philosophy that Government is the answer to almost all of our problems.

I don't think he's a bad man, I just think that he will be bad for America.

Obama Pushes for Higher Investment Taxes
September 19, 2007 03:02 PM ET | James Pethokoukis

As part of his "Tax Fairness for the Middle Class" plan, Barack Obama is in favor of nearly doubling the capital-gains tax rate from 15 percent to 28 percent. Leaving the fairness issue aside for a moment—as well as the impact of higher taxes on economic growth—the Obama plan could also be called a "Ways in Which Government Can Collect More Taxes to Pay for New Spending" plan, since Democratic candidates are all scrambling to figure out ways to plausibly pay for new healthcare, education, and infrastructure spending if elected.

But Dan Clifton over at Strategas Research thinks the Dems may be disappointed by the ROT—return on taxes—from higher cap-gains rates. After reviewing the connections between changing cap-gains rates and government revenue during the past five decades, he concludes that higher cap gains could well be a revenue loser for Uncle Sam.

We examined the impact of capital-gains tax rates on investors realizing their gains. As the tax rate increases, investors hold their gains to avoid paying the higher tax. Conversely, lowering the capital-gains tax rate spurs realizations. Interestingly, the 1986 Tax Reform Act increased the capital-gains tax rate from 20 to 28 percent, but investors were given roughly three months before the tax increase was enacted into law. In turn, investors rushed to realize their gains before the higher tax rate kicked in, and capital-gains realizations remained depressed for nearly a decade thereafter with the higher tax rate in place.... Therefore, proposals to raise tax revenue from capital-gains tax increases will be scored as a net revenue gain to pay for new spending, but in reality, the tax revenue may not materialize, which will force tax increases elsewhere to pay for spending.

Category: News & Politics

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barack obama tax taxes capital gains debate abc news clinton hillary president race 2008 campagne government

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kommisar (1 week ago) Show Hide

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What a fucking idiot. "Purposes of fairness"? Love how he penalizes people for "working the stock market". Good job, Obama, penalize successful people!

Calhounism (1 week ago) Show Hide

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READ THE HEALTH CAR BILL THAT PASSED THE HOUSE!
You will be paying a medical devise tax on stuff like condoms, tampoons, and toothbushes. Just to name a few.

"I will not raise taxes on those making under $250.000" -- obama

He sure is going to creat some TAXES, not to mention he already raised taxes on the smokers back in february 61 cents a Pack.

OneEyedJack1970 (1 week ago) Show Hide

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Purposes of fairness? What's fair about taking my hard-earned money and giving it to some sorry-ass who won't work?

azcardzfan2005 (1 week ago) Show Hide

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housing crisis you started shit for brains. you aren't interested in paying any debt off shithead

modspell (2 weeks ago) Show Hide

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"I believe in the principle of PAY AS YOU GO."
IMPEACH NOW.

twt1972 (1 week ago) Show Hide

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Really? Did you believe that when Bush was lying us into a war and cutting taxes for the wealthiest 2 %? Where were all the teabaggers when Bush was raising the deficit? You must love Bill Clinton the way he left us with a projected surplus and balanced the budget and everything.

twt1972 (1 month ago) Show Hide

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Oh your so clever. Did you make that up all by yourself?

twt1972 (1 month ago) Show Hide

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If you don't support OUR president you support the terrorists. Why do you hate our troops? Why do you love Bin Laden?

mokenaman1 (2 weeks ago) Show Hide

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If you like obama you must hate fluffy bunnies. Why do you hate fluffy bunnies?

twt1972 (1 week ago) Show Hide

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I love them if they are properly cooked. :-P

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Obama: Raise Taxes, Capital Gains - "For Purposes of Fairness"

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