Obama's Capital Gains Blunder

obama and economy

For all you people that voted for Obama... I dont know how much more my 401k and paltry roth invetment account can take... he is wrecking havoc on the market, and flying around on air force 1 at an incredible cost to us tax payers trying to restore our faith and hope while at the same time constantly talking doom and gloom!!! I've worked 35 years to accumulate enough to try to retire on, and now face many more years to try to recoop my loss since these dems have given away the store!!

msinman of TX @ Feb 23, 2009 23:36:12 PM

HAIR LOSS CREAM

Hi guys. When the gods wish to punish us, they answer our prayers.

I am from Nigeria and learning to read in English, please tell me right I wrote the following sentence: "Ed young is revving himself up for the sermon that he is going to preach this sunday, with the topic."

With love :p, Brittania.

Brittania of AZ @ Feb 22, 2009 22:05:46 PM

You think real estate is dead now?

I can't tell you how many clients I have that say "It doesn't make sense to sell my commercial/investment property because of the capital gains taxes I will owe. Too much of my equity will go to the State and Fed". I'm in NY where the combined cap gain tax is 21% before depreciation recapture. If he tacks on another 5-10%, the effect will be that no one will sell unless they absolutely have to (ie: hardship situations). This will create fewer transactions and less tax revenue.

Dividend Income - plain and simple, the increase in tax rates on dividend income will create a disincentive for people to invest in publicly traded companies which will ultimately reduce company profits, force companies to reduce employment levels and increase national unemployment levels.

Neil of NY @ Nov 11, 2008 20:24:12 PM

capital gains

Look at the last two days... I feel that there are many problems facing the economy. It stretches from expected results to come out tomorrow lower than what we would like... It has to deal with the high volatility (caused by many factors)... But what about the fact that people are pulling out due to the threat of capital gains tax... We still have not heard a number...

Adam of PA @ Nov 06, 2008 21:37:19 PM

Obama Tax Plan

Now that Obama has won the election you would be surprised at that people that think he is not going to tax anything beyond what they now pay,i told one senior who will be selling his house to make a $300,000 dollar profit for his golden years that under the Obama plan he may pay a capital gain tax of up to uo to $81,000 on the sale and he almost had a heart attack and told me i was nuts that he would pay zero, i hope he has his heart doctor standing by.

ernie cooney of NJ @ Nov 05, 2008 12:25:25 PM

And I certainly would not go above what existed under Bill Clinton, which was 28 percent. I would—and my guess would be it would be significantly lower than that.

Those sentences tell me Obama got it right. We did well under Clinton.

Jordan of WV @ Oct 26, 2008 00:52:01 AM

???

This concerns me considering that we should be enticing businesses to stay in the U.S. rather than making it more and more lucrative to move their money. And what does Obama know about economics? One more "I think" in that quote from Obama and "I think" I'm gonna throw up. Did you know that the Dolphins are being sold right now because of Obama's capital gains plans? The owner wants to make more money on HIS PROPERTY (imagine that) before he has his money forcefully taken by a government that was established under complete opposite pretenses. Our founding fathers are turning in their graves.

"A wise and frugal government shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government." - Thomas Jefferson (First Inaugural Address)

Nick of FL @ Oct 19, 2008 11:14:58 AM

Look at the big picture!

There is a huge problem with increasing the capital gains tax. Corporations are going to pass their new tax expense along in a number of ways. From cutting wages and jobs, to increasing prices of products and services. I think everyone can agree that this would be a step in the wrong direction.

Terry of WI @ Oct 16, 2008 16:43:54 PM