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Posted by: nostalgia 1 year, 4 months ago
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nostalgia1 year, 4 months ago
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I listened to an interesting discussion on the stock market and investments yesterday
Several analysts mentioned Obama's plan to increase the capital gains tax rate from 15% to 28%.
They noted that historically increases in the capital gains tax rate have been retroactive
They said they expect some people will sell stocks that are performing well to try and avoid any increase in this tax rate if Obama is elected
some of them said they wouldn't be surprised to see the Dow go even lower
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browntiger1 year, 4 months ago
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Oh please even if Obama get's elected and congress passes increase in capital gains as you mentioned retroactively - there will be no crisis.
Stock performance will be based more on how well he performs, how confident people in the future, how well economy will be creating new jobs.
Clearly stocks are falling because confidence in Dumbo W administration is pretty low, jobs leaving US, gas prices soar, housing & loans crisis, and the only reason this whole mess did not bring down immediate financial crisis - is massive goverment deficit spending.
160,000 in Iraq, defense orders, fed that printing money to give them to the banks so they can use those to pay for previous loans they took from fed. absurd interest rate of ( i bonds sold at 0% rate ) so banks instead of cleaning they books still in hope of selling bad debt to offshore investors. High risk and low yield assure it will never happened.
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jmarks1 year, 4 months ago
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well, its about time for a new approach, Bush's tax cuts for the wealthiest haven't helped a whole lot have they?
Obama's capital gains tax increase will only affect the wealthiest 2% of americans, that's a reversal of Bush's policy, wouldn't you say?
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nostalgia1 year, 4 months ago
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" Obama's capital gains tax increase will only affect the wealthiest 2% of americans"
Nearly doubling that tax would devastate pension plans and personal investment portfolios that are intended to provide for their owners in their years of retirement.
It affects far more than 2% of Americans
Have you ever looked at what happened when the capital gains tax was increased during the Reagan administration? The federal government's revenues from the tax declined by 44% over the next three years.
Why did the revenues from the tax decrease? Many people pulled out of the stock market
"Bush's tax cuts for the wealthiest"
Have you ever actually gone back and looked to see how those tax cuts impacted you - what were you paying before the cuts as opposed to after them? Why don't you do that and then let me know if you were one of the so called "wealthy" who benefited
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quackpot1 year, 4 months ago
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The tax cuts to the wealthiest were offset by massive deficit spending and by running the money printing machines over time.
Ask anybody who is traveling in Europe about Bush's policies of devaluing the dollar.
Ask the next generation how they feel about picking up the tab for Bush's welfare for the rich programs.
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