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Both Democrats are considering raising the capital gains tax!!!

Old 04-17-2008, 10:53 PM
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Both Democrats are considering raising the capital gains tax!!!

They were both asked at the latest Democratic debate and neither of them would be clear on their positions but alluded to and leaned towards the possibilities of raising the tax.

If they would look they would see that throughout our country's history the lower the capital gains tax rate has been the more the amount of money the government has made.

To raise it would be a mistake I think!?!?! I am a bit worried...

Ron Paul where are you!!!!!!


-Nate

Last edited by GTRNate; 04-17-2008 at 10:59 PM.
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Old 04-18-2008, 06:43 AM
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Well I actually gave this some thought. They did mention that when Clinton was in office the capital gains tax was nearly double what it is currently. Obama was looking to raise it from 15% (currently) to 20%, which to me isn't that big of a deal. My only concern would if they do raise it then I would like to at least see the money go to something beneficial to individual citizens (like fixing our health care system, it's ridiculous).

Even with the 28% we had when Clinton was in office, the economy was pretty strong and alot of people were still making a ton of money. I think there is a fine line though on how they should apply the tax. Meaning if people are selling things like their home because they can't afford to pay for it and need the money to survive shouldn't be slapped with a higher tax bill. I know it wouldn't be easy to apply such a case by case policy but I'm sure if someone put more thought into it...
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Old 04-18-2008, 07:22 AM
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Originally Posted by spt View Post
Well I actually gave this some thought. They did mention that when Clinton was in office the capital gains tax was nearly double what it is currently. Obama was looking to raise it from 15% (currently) to 20%, which to me isn't that big of a deal. My only concern would if they do raise it then I would like to at least see the money go to something beneficial to individual citizens (like fixing our health care system, it's ridiculous).

Even with the 28% we had when Clinton was in office, the economy was pretty strong and alot of people were still making a ton of money. I think there is a fine line though on how they should apply the tax. Meaning if people are selling things like their home because they can't afford to pay for it and need the money to survive shouldn't be slapped with a higher tax bill. I know it wouldn't be easy to apply such a case by case policy but I'm sure if someone put more thought into it...
I PM'd you...

-Nate
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Old 04-18-2008, 08:28 AM
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i was for ron paul as well, he seemed like the most rational politician i've seen in a while

... probably why he's not popular

i was interested in Huckabee's "Fair tax" (although not interested in him Re: other things)

basically a 23% sales tax that everyone pays (including foreigners), but there are not other taxes

link:

http://en.wikipedia.org/wiki/FairTax



it seemed to alleviate a lot of confusion and with subsidization for low income levels there isn't a lot of room for complaining

right now i think that they "average" american spends about 26 hours preparing their taxes

=huge time waste

the IRS and tax prep/CPA's would never go for the "fair tax" but there clearly needs to be revision
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Old 04-18-2008, 04:04 PM
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Originally Posted by spt View Post
Well I actually gave this some thought. They did mention that when Clinton was in office the capital gains tax was nearly double what it is currently. Obama was looking to raise it from 15% (currently) to 20%, which to me isn't that big of a deal. My only concern would if they do raise it then I would like to at least see the money go to something beneficial to individual citizens (like fixing our health care system, it's ridiculous).

Even with the 28% we had when Clinton was in office, the economy was pretty strong and alot of people were still making a ton of money. I think there is a fine line though on how they should apply the tax. Meaning if people are selling things like their home because they can't afford to pay for it and need the money to survive shouldn't be slapped with a higher tax bill. I know it wouldn't be easy to apply such a case by case policy but I'm sure if someone put more thought into it...
Actually, Obama was intending to raise it back to the 28% it was at during the Clinton administration. Clinton later lowered it to 20% and I think Obama may have not been aware of that until the last debate. The bottom line is that when taxes are lowered revenue to the treasury goes up. Period, the debate is over. It has been proven time and time again. Lets not forget who's money it is. The person that took the risk to invest it. It is not the govenment's. We should not look to tax payers to fix or pay for universal health care coverage. If you don't have coverage, then go buy it. We should be willing to pay for things that are important to us, not expect others to pay for them.

Politicians that are truly interested in reforming the current system would support the Fairtax. www.fairtax.org

Last edited by rmyers; 04-18-2008 at 04:08 PM.
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Old 04-20-2008, 12:42 PM
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Politicians that are truly interested in reforming the current system would support the Fairtax. www.fairtax.org

+9999999
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