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I think its important to point out that a person who has $1000 in stocks on March 9th would have $1600 in stocks (if they had a portfolio mirroring the Dow). The only way they would have exactly $1600 in cash is if they sold off every share for the closing price, which is just about completely impossible. Even then, they likely owe a chunk of that cash to the gov'ment in capital gains. That is going to reduce their spendable cash by over 1000 dollars.
I think you should re-read my entire post.
I was pretty specific in my wording.
And please tell me what method of taxation on capital gains would take a $1000 investment which grows to $1600, and somehow make it worth $1000 less than the $1600 (i.e. $600 spendable)? Even if the person held it for less than one year, the most the $600 gain (assuming the money was invested on March 9, 2009) would be taxed, is at the current tax rate for the person (maybe 40% - 50% - if they are in a high tax bracket). So the most they would lose is $300 in spendable dollars. So they would have $1300 to spend.
What does the DOW have to do with the everyday normal middle of the road American that Obama claimed he was for?
Answer: NOTHING
None of those people invest in the DOW, to hear the left wingers only the rich have the money to invest.
It is so easy to see the left winger Obama robots are looking hard to find something positive during his 10 months of failures.
The DOW is not your positive, it means zero to those he promised to help.
Fact is, only those bad mean nasty selfish rich people that the left hate are the ones raking in the cash from any rise in the Dow.
Nice try, but this BS has been tried over and over.
Name one single major accomplishment of Obama other then making the rich richer like this poor example.
Obamaphobes are getting desperate for any good news they can find.
Lets talk about records since you brought it up.
Obama has set new records for 2009 on all of the following.
The most troops that died in a month.
The worst terrorist attack on American soil ever.
The highest foreclosures in history.
The most bankruptcies in history.
The most jobs lost in one month.
The largest drop in approval ratings ever.
The largest closings of factories in American history.
The most debt and most money spent in the 1st year and he did it in 9 months.
The list goes on and on. Obama is not only setting records but he is making new ones almost daily.
Can you buy more healthcare? How about auto insurance? Home insurance? College education? You sell the stocks and you have to pay capital gains taxes. You sell the gold and you pay nothing to the IRS.
If your stocks are worth more, and you cash them in, you now have more money to buy anything you can think of. Doesn't matter what it is. Insurance, education, whatever.
And I believe people who own gold, usually own it through a gold specific mutual fund. So, yes, they would have capital gains to pay. I highly doubt people are hoarding actual gold bullion in their homes or in bank safety deposit boxes.
If your stocks are worth more, and you cash them in, you now have more money to buy anything you can think of. Doesn't matter what it is. Insurance, education, whatever.
And I believe people who own gold, usually own it through a gold specific mutual fund. So, yes, they would have capital gains to pay. I highly doubt people are hoarding actual gold bullion in their homes or in bank safety deposit boxes.
With record foreclosures and bankruptcies only the rich have stocks worth even messing with.
The dow moving means ZERO to the average person who needs help with jobs, foreclosures and record bankruptcies caused by the massive job loses.
If your stocks are worth more, and you cash them in, you now have more money to buy anything you can think of. Doesn't matter what it is. Insurance, education, whatever.
And I believe people who own gold, usually own it through a gold specific mutual fund. So, yes, they would have capital gains to pay. I highly doubt people are hoarding actual gold bullion in their homes or in bank safety deposit boxes.
The point is that all of those things I mentioned are FAR above the inflation rate. Also, certain foods are increasing such as columbian coffee and sugar. I don't think people bought at the very bottom, and if they did they likely have a lot of investments that were smashed in 2008 and have a net loss. As far as gold is concerned, the only thing I get is something that can have physical delivery. You don't have to hoard much to have a sizable amount of money.
better cash in quick capitol gains tax is going up under these idiots
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