Fiscal Cliff deal means higher taxes on 77% of households, averaging $1,635 each (Harry Reid, Clinton)

[LordBalfor]

Originally Posted by HappyTexan

It's 20% for most and if you were smart you took your cap gains last year to lock in that 15%.

And then re-invest it again for the gains you'll make this year. As I said, it sure didn't stop folks from buying into the market (so much for the theory that it would).

Ken

[HappyTexan]

Originally Posted by LordBalfor

And then re-invest it again for the gains you'll make this year. As I said, it sure didn't stop folks from buying into the market (so much for the theory that it would).

Ken

Actually I did a wash..sold and rebought. There is no time restriction on a wash for profits.
I locked in a higher cost basis in 2012.

A wash for losses has the buy back time restriction.

[InformedConsent]

Originally Posted by LordBalfor

And yet people invested in growing the U.S. economy when the tax rates were this high (or even higher) before.



The higher capitial gains tax sure didn't seem to hurt the stock market yesterday - you know?, one of those sources of investment AFFECTED by the new Capital Gains tax increases?

Folks invest where they think they have a chance to make money. They don't choose NOT to invest simply because they'll have to pay more taxes on their profits.

Taxes ARE factored into the decision on which investments to make. You're a fool if you fail to understand that.

And by the way...
US tax truce rally for stocks fizzles out - FT.com

[InformedConsent]

Originally Posted by LordBalfor

You didn't SHOW me it's "not working". You simply STATED it - as if YOUR opinion is of any value.

So your claim is that the economy is growing at a record pace? Prove it.

[wxjay]

Oh no! The payroll tax cut is gone! Remember last year when Democrats were pushing for it? We heard radio ads about how a father in a family of 4 could now afford to buy his family a Friday night pizza dinner because of the payroll tax cut. Look what the Democrats are complicit in doing now - depriving a family a pizza dinner!!

[EinsteinsGhost]

Originally Posted by InformedConsent

So your claim is that the economy is growing at a record pace? Prove it.

Addressing the non-sense of "not working" doesn't require an assumption of "working at a record pace".

[AeroGuyDC]

Originally Posted by padcrasher

Good. We need to start paying our bills. Payroll tax cuts were always meant to be a temporary stimulus. This is a great start. Thank you liberal Democrats for forcing some measure of responsibility on US citizens and standing up to right wing deadbeats.

Says the gal who refused to return her Bush tax refund check to the Treasury.

It's beyond you to put your money where you mouth is, huh?

Typical liberal idiocy at work.

[InformedConsent]

Originally Posted by EinsteinsGhost

Addressing the non-sense of "not working" doesn't require an assumption of "working at a record pace".

So you admit... the economy is fairly stagnant. In other words, NOT growing by any significant amount.

The LAST thing the government should be doing is disincentivizing investment in the U.S. economy. But, the idiots got their way.

[EinsteinsGhost]

Originally Posted by InformedConsent

So you admit... the economy is fairly stagnant. In other words, NOT growing by any significant amount.

I choose to use such words as significant and stagnant in relative terms. Do you? And if you do, relative to what?

The LAST thing the government should be doing is incentivizing casino capitalism in the U.S. economy. But, the idiots didn't get their way, for now.

FTFY.

[InformedConsent]

Originally Posted by EinsteinsGhost

I choose to use such words as significant and stagnant in relative terms. Do you?

Yes. The utter folly of further disincentivizing investment in the U.S. economy will eventually bare itself for all to see.