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Obama - Taxes, Capital Gains
Obama wants to raise the Capital Gains Tax "for purposes of fairness", even if we collect less money and run up more debt that China will buy up. This goes contrary to what he was saying about the "Bank of China Credit Card". And the part about paying down "some of this debt", that will never happen as long as Politicians know that they are able to spend money on the people in return for votes and do favors for Corporations in return for money making opportunities when they leave office. I know he says that these are the kind of things that he will change, that part would be great, I just don't like all of the liberal policy change and laws he would be making; take my guns away, free abortions for anyone, any age, any reason, no parental consent or even notification, let Iran have Iraq, raise taxes on the "Wealthy", and his general philosophy that Government is the answer to almost all of our problems. I don't think he's a bad man, I just don't agree with him politically.
Obama Pushes for Higher Investment Taxes
September 19, 2007 03:02 PM ET | James Pethokoukis
As part of his "Tax Fairness for the Middle Class" plan, Barack Obama is in favor of nearly doubling the capital-gains tax rate from 15 percent to 28 percent. Leaving the fairness issue aside for a moment—as well as the impact of higher taxes on economic growth—the Obama plan could also be called a "Ways in Which Government Can Collect More Taxes to Pay for New Spending" plan, since Democratic candidates are all scrambling to figure out ways to plausibly pay for new healthcare, education, and infrastructure spending if elected.
But Dan Clifton over at Strategas Research thinks the Dems may be disappointed by the ROT—return on taxes—from higher cap-gains rates. After reviewing the connections between changing cap-gains rates and government revenue during the past five decades, he concludes that higher cap gains could well be a revenue loser for Uncle Sam.
We examined the impact of capital-gains tax rates on investors realizing their gains. As the tax rate increases, investors hold their gains to avoid paying the higher tax. Conversely, lowering the capital-gains tax rate spurs realizations. Interestingly, the 1986 Tax Reform Act increased the capital-gains tax rate from 20 to 28 percent, but investors were given roughly three months before the tax increase was enacted into law. In turn, investors rushed to realize their gains before the higher tax rate kicked in, and capital-gains realizations remained depressed for nearly a decade thereafter with the higher tax rate in place.... Therefore, proposals to raise tax revenue from capital-gains tax increases will be scored as a net revenue gain to pay for new spending, but in reality, the tax revenue may not materialize, which will force tax increases elsewhere to pay for spending.
Length: 183
Rating: 3.80 (55 ratings)
Tags: barack obama tax taxes capital gains debate abc news clinton hillary president race 2008 campagne government
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NECN: Vermont independence gains traction...
View this 2007 New England Cable News story on Vermont independence, featuring the voices of a wide variety of Vermonters on the question of independence.
Length: 353
Rating: 4.90 (27 ratings)
Tags: Free Vermont Commons independence secession republic
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Ike Gains Strength Over Gulf, Aims for Texas
Hurricane Ike grew stronger as it barreled across the warm, energizing waters of the Gulf of Mexico Wednesday toward the Texas coast after crashing through Cuba's tobacco country and toppling aging Havana buildings. (Sept. 10)
Length: 82
Rating: 5.00 (13 ratings)
Tags: tropical weather ike gains strength gulf aims texas
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India Gains Independence - Rare Video
Greatest Headlines of the century - India gains independence - August 15th 1947
Length: 198
Rating: 4.80 (20 ratings)
Tags: India independence News headline
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Hoop Gains Basketball Private Training Offensive Skills
Kevin Barbosa works with two pupils on offensive drills to work on at home.
Length: 369
Rating: 4.10 (48 ratings)
Tags: basketball instruction training
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Handsome man gains 80 pounds for a film role
Check out his weight gain!! Sadly, he dropped the 80 pounds in 5 months.
Length: 469
Rating: 4.80 (38 ratings)
Tags: handsome BHM belly weight gain
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