Posted on 09/22/2011 9:00:16 AM PDT by 92nina
President Obama today called on raising the capital gains tax rate: “…Explain why somebody who’s making $50 million a year in the financial markets should be paying 15 percent on their taxes, when a teacher making $50,000 a year is paying more than that — paying a higher rate.”
25% capital gains tax rate? Under one interpretation, President Obama is calling for the marginal tax rate on capital gains to be the same as the marginal tax rate on someone earning $50,000 per year. This would imply a 25% capital gains tax
28% capital gains tax rate? According to theladders.com, a Fortune 500 CEO’s executive assistant commands a starting salary of about $100,000. The marginal tax rate on this salary level is 28%. So, President Obama might be calling for the capital gains tax rate to get back to its pre-1997 level of 28%
39.6% capital gains tax rate? President Obama laid out the principal that capital gains should not be taxed any lower than any other tax rate. If Warren Buffett’s secretary gets a big raise that puts her in a higher tax bracket, President Obama and Mr. Buffett would have the same complaint. If President Obama means that he wants to tax capital gains as ordinary income (as seems most likely), he would have to raise the rate all the way to 39.6 percent, the level it will be in 2013 and which he has said is the best top rate.
President Obama has already raised the capital gains tax rate. President Obama has endorsed a 20% capital gains marginal rate in his budget. In addition, Obamacare contains a 3.8% “surtax” on capital gains and other investments starting in 2014...
Read more: http://www.atr.org/lousy-way-soak-rich-obama-proposes-a6462#ixzz1YhH1LDWE
(Excerpt) Read more at atr.org ...
Take this article and others I found to the fight to the Libs on their own turf; put the Left on the defensive at Digg and at Reddit and in Stumbleupon and Delicious
Remove the clown....please!
but but warren buffet has to pay as much as his secretary /sarc
I disagree. From Obama's viewpoint, it will discourage capital investment, a primary component of capitalism, which he hates with a white hot passion. In that sense, it works like a charm.
Guess Zero wants to ensure the market goes down 500-600 ponts today.
What a dolt.
The only reason he wants to go this route is it will keep people from pulling out of the stock market, which, whith the help of inflation and Helicopter Ben, is the only indicator that hasn’t fared too poorly. Now that the shell game is ending, Zero needs more insurance and this proposal would further punish people from pulling their money out.
So lower the teacher's taxes and then they might be able to put some money in the financial markets, 0bozo!
The real problem with capital gains is that they’ve already been taxed once as corporate income. The bastards.
DESTROY THE JOB CREATORS!
It’s only “Fair!”
Holy Christ, Ayn Rand sure had it right about the Obamunist Fascists, didn’t she.
This experiment in electing an African-African nobody as president has failed miserably.
Time to change the sheets in the White Hut and eject this phony rat!
There fixed it ...
The answer why a lower capital gains tax is fair is simple:
The investor risks a capital loss for which he will get little or no relief.
The wage earner never risks a negative wage.
Slam dunk. Send to everyone you know.
when a teacher making $50,000 a year is paying more than that — paying a higher rate.”
Where I come from..the teacher’s tax is clearly too high...idjits..
This is part of an intentional plan to destroy the American economy and stage a government takeover of private companies and markets, all in the name of "fairness", of course.
This is very bad because capital gains will hit you badly if you ever decide to sell your home and downsize as you get older.
I will say this again: If any of his tax s##t gets through the House, I’m done with the Republicans. There is simply no excuse for any kind of compromise with this Marxist POS.
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