Quote:
Originally Posted by justplugit
It's already double taxation as taxes were paid on the $$ before invested.
To raise CG tax would make people think before willing to take a chance
in investing in stock which companies need for capitalization and
creating jobs.
Market wouldn't like it and it would affect the retirement and investment funds except for the the tax exempt IRA, 401K etc.
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you're only taxed on the gains, not the initial investment so not sure its double taxation. The market would recover quickly, I dont think it would be a big hit. A lot of $$$ is funds and institutional investment which wouldnt impact the average investor
Look at the web news postings the last few days and people are seeing O's proposal for what it is. He is not tackling the problem. He is throwing it over the fence and meanwhile - taxing FAMILIES making over 250k more, AND limiting their deductions AND suggesting (via the Buffet rule) that these families (you know millionaires who make 250K) will pay a higher rate on cap gains? Do you guys realize that all these increases are ANDS, meaning multiple hits??????Where is the tax reform? When are we getting rid of the AMT, which already dings the working families HARD? This is a shameful, no-brain approach which is the same thing O has been proposing over and over. He is f'ing over the working, successful families who are fueling this economy!
for your pleasure -
http://money.cnn.com/2011/09/20/news....htm?hpt=hp_t2