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Capital Gains Rate Could Jump 119% Under Gang Of Six
Investor's Business Daily ^ | 7/20/2011 | Jed Graham

Posted on 07/20/2011 4:15:35 PM PDT by Slyscribe

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1 posted on 07/20/2011 4:15:37 PM PDT by Slyscribe
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To: Slyscribe

Lock and load!


2 posted on 07/20/2011 4:16:47 PM PDT by EGPWS (Trust in God, question everyone else)
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To: Slyscribe

How can you have a 119% tax rate?.......


3 posted on 07/20/2011 4:19:40 PM PDT by Red Badger (PEAS in our time? Obama cries PEAS! PEAS! when there is no PEAS!..........................)
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To: Slyscribe

LOL! That’s a direct attack against developing real estate—like shooting themselves in their feet.


4 posted on 07/20/2011 4:20:08 PM PDT by familyop ("Don't worry, they'll row for a month before they figure out I'm fakin' it." --Deacon, "Waterworld")
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To: EGPWS

Starve the beast.


5 posted on 07/20/2011 4:20:33 PM PDT by freespirited (Stupid people are ruining America. --Herman Cain)
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To: Slyscribe

The key to the Senate Gang of Six... grand bargain is the combination of higher tax revenue...

So, isn’t this an end-run around the constitution? All bills for raising revenue are to originate in the House. Call your congressman!


6 posted on 07/20/2011 4:20:55 PM PDT by ngat
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To: Red Badger

The capital gains rate is currently 20%. Increasing it by 119% means it would then be 43.8%


7 posted on 07/20/2011 4:23:49 PM PDT by PapaBear3625 (When you've only heard lies your entire life, the truth sounds insane.)
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To: All

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8 posted on 07/20/2011 4:24:40 PM PDT by DeoVindiceSicSemperTyrannis (Want to make $$$? It's easy! Use FR as a platform to pimp your blog for hits!!!)
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To: Red Badger
How can you have a 119% tax rate?.......

You can't however you can have an increase of 119% from existing taxes.

9 posted on 07/20/2011 4:25:18 PM PDT by EGPWS (Trust in God, question everyone else)
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To: PapaBear3625; EGPWS

Okay.
Got it!.....


10 posted on 07/20/2011 4:33:45 PM PDT by Red Badger (PEAS in our time? Obama cries PEAS! PEAS! when there is no PEAS!..........................)
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To: Slyscribe
We have it all ladies and gentlemen. You can have chocolate & vanilla... yin & yang... up & down...

EVERYBODY will love this deal... EXCEPT for the taxpayers.

Tax INCREASE along with RAISING the debt ceiling.

Call it what it is... SMOKE & MIRRORS.

11 posted on 07/20/2011 4:46:22 PM PDT by VideoDoctor
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To: Slyscribe

The Repubies involved with this piece of crap should be primaried with extreme prejudice the next time around.

This is bullsh1t!!


12 posted on 07/20/2011 4:47:59 PM PDT by upchuck (No increase PERIOD! Hope & Change = Ball & Chain)
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To: Slyscribe

Nov. 2012 cannot come too soon.. to get rid of some of the gang of six or seven sycophants..

The Tpcaucus is still growing strongly..


13 posted on 07/20/2011 4:58:00 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole...)
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To: upchuck
Kill Real Estate with interest deductions

Now a Business or Stocks will become stagnant because of high capital gains rates as people will never sell and pay the high tax.

Any wonder why the stock market was below 1,000 on the Dow before Reagan.

14 posted on 07/20/2011 5:01:32 PM PDT by scooby321
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To: All

Capital gains taxes would go from 15% now to 32.8% with this hideous deal. Call your reps and demand no tax hikes and real spending cuts. More money flowing into D.C. will mean no incentive to cut spending.


15 posted on 07/20/2011 5:06:48 PM PDT by BushMeister ("We are a nation that has a government - not the other way around." --Ronald Reagan)
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To: Slyscribe

Call Boehner’s, Cantor’s, and Chambliss’ offices...I did and left very supportive and angry (Chambliss’) messages...their staff listen well and take notes.


16 posted on 07/20/2011 5:08:15 PM PDT by CincyRichieRich (Keep your head up and keep moving forward!)
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To: Slyscribe
Gee, that won't cause people to dump their stocks before the new rate kicks in.
17 posted on 07/20/2011 5:43:57 PM PDT by Trod Upon (Obama: Making the Carter malaise look good. Misery Index in 3...2...1)
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To: Slyscribe

They predict increases in revenue on static data. There will be NO increase!!
Raise taxes without benefit to the payer is a disaster. At least Bill Clinton SAID, “The era of big government is over.” If you are in the productive/achiever realm, this meant ‘full steam ahead’. Obama means ‘death spiral’.


18 posted on 07/20/2011 5:46:10 PM PDT by griswold3 (Character is Destiny)
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To: upchuck

Since this article is about percentages. Lets play.. : )

Capital gains has been lowered to a point where those who sit in front of a keyboard, on Etrade pay less of a percentage in tax then a full time (would you like fries with that) McDonald’s employee.

So either have the investor class pay as much of a percentage of their income as that Mcdonald’s employee or lower the taxes of the McDonald’s employee to be the current tax rate of capital gains.


19 posted on 07/20/2011 5:51:25 PM PDT by moshiach
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To: moshiach

Apples and oranges. Capital gains and earned income are completely different and should be treated differently.

Secondly, your example is incorrect, a mcdonalds burger flipper is likely taxed at 10% or 15%, and a slew of deductions are applied to their earnings. I am sure many of these folks fit into the 47 percent not paying any income tax.


20 posted on 07/20/2011 6:04:52 PM PDT by ilgipper (political rhetoric is no substitute for competence (Thomas Sowell))
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