Posted on 01/18/2015 4:54:42 AM PST by dila813
President Obama proposes massive tax hikes on the wealthy and says the loopholes they exploit need closing. 28% capital gain taxes are only the beginning.
Right before his State of the Union address to a Republican controlled Congress, President Obama has thrown down a tax gauntlet, with $320 billion in tax hikes. His signature ideas would make community college free, and would extend sick leave to working families. But his massive batch of tax hikes is unlikely to be met with applause, even though he has cleverly invoked Ronald Reagan’s name to sell yet another big capital gain rate hike.
(Excerpt) Read more at forbes.com ...
I have a better idea. Abolish the capital gains tax along with taxes on dividends and interest.
Totally stupid. Obunghole couldn’t pass Econ 101.
This will help kill innovation and job creation even more. Wonder if this will be the straw that breaks the camels back.
Why it was Newt Gingrich and co.'s Contract With America.
In '97, realized taxes from capital gains was $364.8 billion.
The following year, despite a 25% cut in the capital gains tax rate, revenues rose by $89 billion.
He could start by forcing Sharpton to pay the millions he owes in back taxes, But that would be wrong-way “redistribution”, because Sharpton is black.
You are correct, I'd hope that was implied in my response, but it's all good. Yes Newt and the boys dropped Cap-Gain rates and Clinton was smart to go along with it. Not dropping Dividends in tandem with that move will always have me asking what if, i.e. could the correction in 1999-2000 been avoided ( partially, if Greenspan didn't helicopter as well on a impending "crash" in a sub-segment of the market, which only set a president ) by everyone focusing on "growth" and "Hi-Tech" rather than tried and true value and long term growth. Ironically one of the survival tools post 09' was to revisit Dividend type Stocks ( in many inside the industry publicans @ the time) and yes, none of the above is investment advice....
Amen!
That's what it's always about with the Jug-Eared Jackass, Obie Won.
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