This increase applies only to those above $500,000? If I’m reading that right, I don’t think there will be a lot of talk about it.

AnninCA on November 12, 2009 at 3:21 PM

WHich means it will hit every small business in the country.

When did our country become more focused on risk than work?

The Calibur on November 12, 2009 at 3:09 PM

Without people who are willing to take a risk, there would be no jobs for anyone.

Um, Junior, you might want to stick to topics you’re expert in,

MNHawk on November 12, 2009 at 3:01 PM

He’s a liberal, which in his mind makes him an expert in every subject.

And if reality refuses to cooperate, we’ll just adjust the computer models until it does.

and the percentage of trades that are the result of the kind of speculation that doesn’t really create capital.

Bleeds Blue on November 12, 2009 at 2:48 PM

Speculation can produce capital. Since it makes economic activities more efficient, which results in more capital being created.

The 2002 to 2006 comparisons are misleading in the extreme. The market had been in decline for three years and stock volume flat.

Bleeds Blue on November 12, 2009 at 2:48 PM

You also ignore the fact that it was the tax cuts that enabled the stock market to recover in the first place.

The 2002 to 2006 comparisons are misleading in the extreme. The market had been in decline for three years and stock volume flat.

Bleeds Blue on November 12, 2009 at 2:48 PM

What’s misleading is your attempt to pretend that capital gains equals Dow Jones.

Just a brief look at it, but it appears they may have a good case.

Johnnyreb on November 12, 2009 at 2:46 PM

This has been gone over many times. This is not a bill of atainder (sp?).

Capital gains tax should never be lower than income taxes. Lower the income tax or raise capital gains. We tax work more than investment, which is asinine.

The Calibur on November 12, 2009 at 2:46 PM

People who invest don’t work? Are you asinine?

If you make over 34000 dollars you pay 25% income tax while capital gains sits at 15%.

The Calibur on November 12, 2009 at 3:37 PM

What’s wrong with that?

I lost about 40% of my portfolio value last year. Since then, it’s come back about 20% but if they really want to pass this turd sandwich I will sell off before everyone else does. Ya hear that:
I SELL ALL MY STOCK THE DAY THIS IS SIGNED INTO LAW.

Not out of malice, but out of common sense. The same common sense that 95% of all investors have.

Meric1837 on November 12, 2009 at 2:56 PM

When Uhhhhhbama first started getting traction in his campaign I switched all of my retirement savings into government bonds.I didn’t lose half of my money like most of my coworkers did, and was able to draw it all out when I retired.So far the tax rates haven’t gone up on it yet.I’ll still get hammered because it’s counted as income this year.

–If you’re a farmer, and this increase kills you, you’re doing better than almost any farmer I’ve heard of. Most of them seem to barely be able to break even in this economy.

Jimbo3 on November 12, 2009 at 5:28 PM

Sad but quite true. Just one generation earlier a good portion of my immediate and extended family either lived on family farms or made livings from same…now almost nobody does. If my one uncle hadn’t gone high tech (he now does DOD contracts, of all things!) he’d be as sunk as the Titanic.

Wonderful! I lost my job and now support myself through stock trading, its like they want me to be on welfare!

Daveyardbird on November 12, 2009 at 5:29 PM

They do. That’s the untold dealio with the Democrat Party. Don’t you watch Glen Beck? *whistles innocently*

Today’s capital gains tax rate of 15% would bounce back to 20% because of the Bush repeal and then to 25.4% with the surtax.

Well the surtax won’t hit me; but I’ll be surprised if the Dems leave the long-term rate at 20% and don’t hike it further.

Oddly I have approximately $0 in capital gains earnings right now in my portfolio… its like I must have sold anything with a gain to take the tax hit this year; how could that have happened? *whistles innocently*

this is an example of the folly in using static tax analysis for public policy, perhaps especially on capital-gains tax rates. Democrats in 1986 — and now — assume that hiking the CGT rate by 69% will produce 69% more revenue that what was received at the old rates. That doesn’t take into account market behavior after tax conditions change. A capital-gains tax hike will push investors to cash out before it hits, and then shelter their assets rather than putting them to work.

Ed, are you reading my mail again?

This is going to kill farmers.

Oink on November 12, 2009 at 4:48 PM

–If you’re a farmer, and this increase kills you, you’re doing better than almost any farmer I’ve heard of. Most of them seem to barely be able to break even in this economy.

Jimbo3 on November 12, 2009 at 3:45 PM
Geez Jimbo3. For a guy that needs my help to pay for his health insurance, you sure seem to know a lot about finances. I fully intend to just let Simple Simon and Grow Fins do the yard work and you can come inside and help with my taxes instead.

hawkdriver on November 12, 2009 at 4:53 PM

I do. But I have three magic words I depend on: “Turbo Tax software”

Pelosi Plan would strangle the economy.

.
and your little dog too!