2011 capital gains tax

[studdgage]

Capital gains tax was raised in the health care bill here are the links http://online.wsj.com/article/SB1000...844595304.html and the 2011 chart for cap is this link http://en.wikipedia.org/wiki/Capital..._United_States

[allineedisonemillionusd]

WSJ already took it down. I got an error with the WSJ link.

[NotReallyTex]

Here is one http://online.wsj.com/article/SB1000...844595304.html Not that you really want to see what it says though.

[POPPY]

w t f those sorry son of a blanks, this just pisses me offff, wish that bastid , wish i was joe the plummer, i would of, oh boy

[studdgage]

i hear ya poppy

[corvetgary]

GENX's Take on Current Events.....

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This information was forwarded to us and posted by permission of GENX...............


Frank: In Spring of 2009, I posted a post on the KTF forum about my experiences while presenting a Business Plan to two major USA Banks where I have had accounts for 20 or more years, both loan accounts and checking accounts. I reported that the banks could not help me as they were under direct orders from the US Treasury to not discuss anything to do with the Dinar.

After a some what heated discussion about me being viewed by the US Treasury as a criminal for buying Dinar from a Terrorist State. I asked where they got this misleading information and after much discussion the VP I was talking to summoned the President of the bank and he brought with him two letters from the US Treasury stating why they were taking the position they were taking. These two letters as I reported at the time stated any employee discussing the Dinar would be considered a Criminal and face a $250,000. fine and up to 12 years in the pen.

I knew at that time the Obama Administration were plotting to control the RV of the Dinar which they have done for the past 18 months using the Dinar to beat Iraq into acting on paying a debt imposed on Iraq for Saddams invasion of debt ignoring the fact that Kuwait and Saudi Arabia had been stealing Iraq's oil for many years under a joint share for drilling in the border areas. I am not sanctioning Saddams action but it is time for the rest of the story.

After the Obama regime took office and discovered how much Dinar was being sold and held by Americans they set out to delay the Iraqi's need to RV until they could legally increase the Treasury's take in taxes. The uproar and unconstitutional action brought forth in "Obama Care" set the stage for a legal rape of the Dinar investors in this country. We should now see a RV take place with the increase in the top individual tax rate from 35% with to 43% and a surcharge of 5%. All of the new FAT CATS will be the new losers in other words you and I.

You will find your new tax rate approaching 50%. Also currency exchange profits along with interest on savings will be taxed as ordinary income. This train wreck called Obama Care has just cost you half of what you have sacrificed for the past six years and it does not stop there as the health care part of this bill does not start until 2014. So they now tax you at the new rate for 4 years; so every bit of interest you earn will be taxed on the increased rate. Ladies and Gentlemen welcome to The Socialist State of America. No bitter grapes here just facts as I have enough Dinar to survive but some of you do not. BUT at least now we will see the RV in the next few days. GenX

[iamhere]

From the WSJ Feb, 24, 2010
The White House's new health-care proposal promises the "largest middle class tax cut for health care in history," which is a creative way of describing a vast taxpayer-subsidized insurance entitlement. Naturally, the fine print goes on to describe one of the largest tax increases for health care in history, too.

This new ObamaCare bargain would for the first time apply the 2.9% Medicare payroll tax to "interest, dividends, annuities, royalties and rents," so-called passive income that we are told includes capital gains, though the latter wasn't explicitly mentioned in the proposal. This antigrowth investment tax would apply to singles earning more than $200,000 and joint filers over $250,000 and comes on top of the Senate's 0.9-percentage-point increase in the payroll tax, which would bring the combined employee-employer share to 3.8%.

The rate hike on investment income would presumably take effect at the same time the 2001 and 2003 Bush tax cuts are due to expire next year, bringing the top rate to 22.9% as the current top capital gains rate would also rise to 20% from 15%. That's a 52% jump, and the last time investors were slammed with anything comparable was 1986 when the capital gains rate bounced to 28% from 20%—or a 40% increase—as part of the Reagan tax reform that reduced income tax rates.

.In part this is a sneaky way of waging the House's war on "the rich" by other means while appearing to compromise. Speaker Nancy Pelosi's 5.4-percentage-point "surcharge" on modified adjusted gross income above $1 million—which also includes capital gains—was supposedly too extreme for the Senate, but the White House is trying to smuggle in its 2.9-percentage-point cousin. Of course, $250,000 is a lot lower income threshold than $1 million, and the rate can always be inched up later once the tax is already in place.

The House surcharge is certainly destructive but it is at least above-board. The White House levy muddies up both the tax code and Medicare financing.

The Medicare payroll levy was designed as a social insurance program with some connection, however attenuated, between taxes paid and benefits received. When Medicare passed in 1965 it was modelled after Social Security and the tax was supposed to be equivalent to a "premium" for guaranteed health-care insurance for seniors; everyone "contributed" at the same rate. Until 1993, the payroll tax was assessed only on the first $135,000 of wages, until the Clinton Administration and the Democratic Congress lifted the Medicare cap entirely.

WSJ Related Stories:
•Review & Outlook: ObamaCare at Ramming Speed
•Review & Outlook: To the ObamaCare Barricades
.The Clinton move was bad enough but Mr. Obama's plan fundamentally changes the nature of the government's health-care financing. Medicare's liabilities mean that it must receive injections of general revenue, but never before have Medicare's own "dedicated" revenues been siphoned off to fund another entitlement. Essentially, it turns Medicare financing into a wealth transfer program at a stroke.

This will be sold in the name of "fairness," if anyone else in the press corps notices, but the worst implications are economic. The 0.9% increase is another tax on job creation, though Democrats claim they want more jobs. The devious 2.9% hike on investment income will raise the cost of capital, though Democrats claim to want more capital investment. Sometimes we wonder if Democrats even listen to their own rhetoric, or if they assume voters are too dumb to notice their contradictions.

If Americans need another reason to oppose ObamaCare, or more evidence of its destructiveness, here it is.

Printed in The Wall Street Journal, page A16

[chloe]

le'tt see if the senate deals with some of this. we have just begun our battle.