Ok.. there is a start.. now be specific. So you like him wanting to raise the capital gains tax from 15% to 39%?

 

The plan is to soak chris and give it to Raoul.
(sorry)
I don't know about capital gains, I never had none.
Maybe we should move along to healthcare, I am well versed on healthcare.
(I got an Obama flier in the mail)

 

so then your admitting your comming to the game lacking. Study up some and see if you feel the same. I am not saying I know it all... so don't come at me with that. But capital gains I do know about. You sell a house for 1,000,000 dollars. You paid 100,000 for it when you bought it. You would have to pay 39% taxes on $900,000. The buyer of the house had to pay taxes on the $1,000,000 he bought it for. That is double taxation. That is WRONG! There should be NO capital gains tax. It is not the governments money.

 

wow!

there's a lot of bitter mccain supporters in this thread.

he didn't even loose the election yet and you guys are already upset!

 

I do know just a smidgen.
A personal residence occupied for two years has a $500,000 profit exclusion from capital gains.
So in your example the tax would not be based on 900k, it would be 400k. You have to admit 900k tax free would be a windfall. Of course if you could show 400k in improvements, the tax would be zero.
The bottom line is $500,000 is the most profit you can receive scott free.
Getting more than that won't happen to most of us.

If it is not your domicile, i.e. rental, then you were probably depreciating the property, (getting a tax benefit over a period of time). And sell time is when the books get settled, - capital gains.

 

and that is good business.. there is no right of the government to tax YOUR money. It is wrong. How is it ever good for the government to take your money you earned? Especially when the buyer is paying taxes on the same money. Ever read about the boston tea party? We are almost to that point. If obama is elected, we are there baby. His tax plan is punitive. The top 5% of wage earners pay around 80% of the taxes if I remember correctly. The exact numbers are not important. The fact is, the minority is paying the most to the government. How is that fair?

 

It has been that way for a long time.
I got to ask chris, how does this affect you?
I kinda doubt anyone in the top 5% and paying the 80% load is banging away on a truck forum about it.

Why do you carry their water?
(not trying to put you down, I'd really like to know why this is so important to you)

 

Because it has happened for a long time doesn't make it right. Your looking at this from the wrong perspective. obama says he is going to tax the rich. They are already taxed more than they should be. If he taxes them more, they will hide there money and not invest. It is a fact. It has happend before. I am not carrying there water. I am trying to be fair here. Why is it someone who worked hard and is succesful have to pay a higher percentage in taxes? Where is the incentive to do good? That is why socialist countries haven't contributed greater things to the world... they are held back by lack of incentive. And the fact is, the rich people in the country are the ones that hire the work force. The fact is, everyone under obama rule will pay more taxes. Bush's tax cuts will be gone. That is higher taxes for everyone. How is that a good thing?

 

The rich don't agree with you...

http://www.chicagotribune.com/news/p...,7497919.story

http://gizmodo.com/350866/obama-1-in...-donation+wise

 

Warren Buffet rarely gets it wrong.

 

If Buffett, Gates, Jobs and the hollywood elites want their wealth redistributed, let them do it themselves. Most of us work hard for what we have and don't have enough to be redistributed to the exorbitantly large population of people who aren't working hard enough.

The Wall Street Journal-How the Rich Would Fare Under Obama, McCain

What happends to this country when the rich leave?

 

There is a glut of mansions on the real estate market?
Mercedes and BMW sales plummet?
Grey Poupon goes out of business?
65,000 illegal aliens are out of work?
Robin Leach stars in a new tv show, 'Lifestyles of the Middle Income and Somewhat Familiar'?

 

"Grey Poupon" - Og

 

the rich aren't going anywhere. this is the greatest country to get and stay rich.

 

I could post the exact same collage re: Obama, but that would be considered racist. Obama looks even more like a chimp than Bush because Obama has those wingnut ears.

Grim