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That surtax takes effect on January 1, 2011, or the day the Bush tax rates of 2001 and 2003 expire. Today’s capital gains tax rate of 15% would bounce back to 20% because of the Bush repeal and then to 25.4% with the surtax. That’s a 69% increase, overnight.
Read on to see just how much revenues plummet when government starts fiddling with those CGT.
Really, do the democrats/liberals ever learn from the past? Why do they think such a tax vehicle would work now, when it never worked in the past? It's been tried, it failed, a sure sign the democrats will try it again.
The increase is a great idea. Our taxes are much too low, and our deficits prove it.
Well since you like being taxed, why don't you pay my share? Sound good? Then I can quit my job and go on welfare, since your gonna be paying for it, right?
Read on to see just how much revenues plummet when government starts fiddling with those CGT.
Really, do the democrats/liberals ever learn from the past? Why do they think such a tax vehicle would work now, when it never worked in the past? It's been tried, it failed, a sure sign the democrats will try it again.
Between this great idea, and I might add, a totally unexpected one, and letting the Bush tax cuts expire, they aught to really invigorate the economy. Because we all know, nothing grows the economy and creates private sector jobs like more money taken out of the private sector and put into the hands of politicians.
Glad to have a president that keeps campaign promises.
Ahh, the 15% capital gains tax rate from 2009 involve
married filing singles, or single individuals who earn as little as $8,351
Married couples who earn $16,701
and head of households who earn as little as $11,951
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