Quote:
Originally Posted by VRM
Turnpike boy,
Sure people who make $42K can leave inheritance and have capital gains.
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Good to see you're aware of that...it WILL include you.
Quote:
Originally Posted by VRM
Obama says he will not raise capital gains past 20%.
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Wrong. He is on record at 28% on capital gains (you selling your house, Steve? - pony up!) and 39.6% on ordinary dividend income.
Quote:
Originally Posted by VRM
And inheritance taxes will not be levied under $7 million per couple. How many couples making $42K do you think have estates worth $7 million?
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What does that matter?? Inheritance taxes, at ANY level, are piracy. Pure and simple. Taxes on those estates were paid all along...what makes you think the Gov't is ENTITLED to take more? Get real, willya?
Quote:
Originally Posted by VRM
I don't like the estate tax and capital gains tax either, but I also think that most of america will do better under Obamas tax plan than McCains. I would get a tax cut of about $1500. Not so much a big deal for me as is is less of a % of my income than someone who makes $42K and is on a much tighter budget.
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No, you won't. You will get
as much as a $1000
credit (only if you're married - as much as $500 if you're single), which is an enormous difference from a tax cut - Obama has
not offered out a single tax
cut to date.
Quote:
Originally Posted by VRM
If a tax rebate for $300 is supposed to provide an economic stimulus, what is $1500 for every married couple who owns a home going to do? And the best part is that while those making over 250K will end up having to pay more (2-3% if I am reading the numbers correctly) they also stand to make a lot more back with business that are more profitable, and better returns on investments.
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Apart from your misapplication of just how much will come back to you, and in recognition that the cost of living (i.e., food, heat, transportation) is what is crushing those on the low end of the income stratus, what basis do you have for thinking that any business is suddenly going to "stand to make a lot more"? Any more than the $300 did? This is fantasy - Obama's
tax credit will only offset taxes due - it is not a $1000 (maximum) check in hand. Please - read what this syncophant of the Democratic Party is saying - it sure ain't what YOU think it is.
-Roger