Freshly Squeezed wrote:
4% If it was 4% that would not be a problem. Last time we had capital gains taxes which is what the Democrats want to reinstate it was 21% on top of regular income tax. I've worked in Financial Services over 20 years and can't wait for them to hit everyone with their taxes and empty promises. Cant wait to see the price of gas and heating and cooling for those of us in the sunbelt next year. Then maybe people will wake up.
[color=#0080FF]I'll have to presume you were just being facetious by stating you can't wait for everyone to be hit with taxes. It's difficult to tell sometimes from just reading words on a screen, without the benefit of seeing one's mannerisms and hearing voice inflections.lol I'm sorry, I don't understand your statement about reinstating the capital gains tax. There is already a capital gains tax in place. Are you referring to individual, corporate, long-term, short-term and in what tax bracket
? An increase would be a challenge anyway because the current rate is protected under the Tax Increase and Prevention Reconciliation Act( P.L.109-222) signed into law May 17, 2006. After the current protected rate expires in 2011, it will revert to the rate prior to 2003, which was generally 20% based on certain criteria. I don't like paying taxes either, but there's no escaping them. Corporations and the wealthiest Americans will be the ones to be "hit hard".....if that helps at all.
Ack! I totally screwed up the font color in this post.