Posted on 01/18/2015 3:26:44 PM PST by Libloather
**SNIP**
Obama will ask lawmakers to close a loophole allowing capital gains on inherited funds to go untaxed -- a so-called "trust fund" loophole the White House says allows billions of dollars in capital gains to go untapped by the government every year.
The administration’s proposal would exempt the first $200,000 in capital gains per couple plus $500,000 for a home, along with all personal property except for valuable art and collectibles. The rest would be treated for income-tax purposes as if it had been sold.
The total amount of money raised for the government by these actions would be about $210 billion over 10 years.
According to the White House, 99 percent of the tax burden from the capital-gains proposals would be paid by the top 1 percent of households, and more than 80 percent would be paid by the top 0.1 percent.
(Excerpt) Read more at dailymail.co.uk ...
$210 billion over 10 years while Hussein overspends $1 TRILLION every year. Didn't they teach math in Kenya?
Maybe Barry should really discuss everyone's Zerocare tax bill and/or fine.
This is just Obama and the Democrats coming back to the GOP supporting the Rich again ,yawn
Obama easily says “increase taxes” but he simply can’t seem to utter the words “Islamic terrorism”. Pretty much sums up his Presidency. Obama has and never will understand that the middle class prospers and grows only with a vibrant growing private sector economy that produces the real wealth and jobs necessary. His socialist redistribution schemes are just more nonsense.
So Barry wants his Hollywood elite friends to start paying their “fair share”?
He’s building up to the same mistake French President Hollande did with his 75% tax rate that chased many wealthy to flee the country. The wealthy don’t have to just stand there and take it with a smile. They have plenty of choices.
Hussein has a money printing pres, why should he worry about balancing the budget?
It’s a punitive shot at anybody who has the discipline to make a buck. The fed is covering deficits. (Stupidly, I know) This is flat out stealing because he can.
The Obamunist LIES again.
1. Further destruction of America.
2. Communist redistribution of wealth.
3. Gov’t give away to buy votes.
4. Trade bait against efforts by GOP to CUT taxes.
If Obama had really wanted to do this, he would have proposed it when the Democrats controlled both Houses of Congress. He is proposing now as a propaganda dig at Republicans.
“Obama plans to increase . . .”
Sounds like Obama can do this on his own without Congerss. Is that what the aritcle is implying?
If Obola had any real guts he’d have all employers route their employees’ paychecks through the IRS, and the IRS could forward to the employee what the feral government deems them to deserve.
Plank #3 of the Communist Manifesto... abolish all rights of inheritance.
I dread the “fair share” mantra that goes with it.
$210 billion is chump change for obozo and the NWO. That’s not even enough money to pay out crony donors and their fraudulent solar companies.
The US has already signed on to a quadrillion in banker derivative debt, so this is nothing.
Tax the rich only means destroy those with money capable of opposing the fascist-communist NWO agenda. The uber rich Dem billionaires never have to worry about taxes because they can shelter their income in non-profits or overseas; if someone making $500k tried something like that, the IRS would seize her accounts and do a pre-dawn SWAT raid.
The question is, will he threaten to veto a budget that does not raise taxes? And if he does, will Boehner and McConnell pass tax increases, since we can’t have a government shutdown?
I don’t wnat any help from the $500K or $900K or any others. I wnat my investments to not be subject to this coon’s concept of capital gains or inheritance tax. Damn this jug eared blue gummer clown.
One of the AP articles on this stated “which would bring it to the same rate as under Reagan”
But they left out the part where Reagan brought it down from what..70%?
Good for him. From what I read and heard, the rich support him. Let them get a piece of the action.
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