Capital Gains tax

[Praxeas]

In a debate here between Jerry Brown and Meg Witman, Brown the democrat lamented that Meg witman wanted to keep capital gains tax down because she is rich and only the rich benefit from such a tax. He then challenged her about how much she would gain....resorting to what Coadie calls "class warfare".

There are 2 cards being played by the Democrats, race and class. Meg's reply was that she had a lot of investments, investments are how jobs are made essentially.

My problem is,it's not just the "filthy rich" that will have to pay capital gains taxes. There are a lot of middle class people and even lower that invest in the hopes of having money to spend down the road that will be hurt.

That is why people like Jerry Brown are dangerous for us and our economy.

[coadie]

Originally Posted by Praxeas

In a debate here between Jerry Brown and Meg Witman, Brown the democrat lamented that Meg witman wanted to keep capital gains tax down because she is rich and only the rich benefit from such a tax. He then challenged her about how much she would gain....resorting to what Coadie calls "class warfare".

There are 2 cards being played by the Democrats, race and class. Meg's reply was that she had a lot of investments, investments are how jobs are made essentially.

My problem is,it's not just the "filthy rich" that will have to pay capital gains taxes. There are a lot of middle class people and even lower that invest in the hopes of having money to spend down the road that will be hurt.

That is why people like Jerry Brown are dangerous for us and our economy.

The small business bill had a tax break on capital gains if a person transferred his business to his children. That is a token.
California also had high inflation. The capital gains tax is on the difference between buying and selling price. It is a tax on inflation.

[Baron1710]

Originally Posted by Praxeas

In a debate here between Jerry Brown and Meg Witman, Brown the democrat lamented that Meg witman wanted to keep capital gains tax down because she is rich and only the rich benefit from such a tax. He then challenged her about how much she would gain....resorting to what Coadie calls "class warfare".

There are 2 cards being played by the Democrats, race and class. Meg's reply was that she had a lot of investments, investments are how jobs are made essentially.

My problem is,it's not just the "filthy rich" that will have to pay capital gains taxes. There are a lot of middle class people and even lower that invest in the hopes of having money to spend down the road that will be hurt.

That is why people like Jerry Brown are dangerous for us and our economy.

Sounds like the voice over on a political ad.

[ILG]

According to this, if you put a house up for sale because you are moving, can't sell it and rent it out and buy a different house to live in and then sell the first house a year or two down the road, you are "rich" and will have to pay capitol gains tax.