WASHINGTON -- Democratic presidential candidate John Edwards said he would raise the capital gains tax rate to 28% from 15% and boost income taxes on those making more than $200,000 a year in order to finance tax cuts and other benefits for middle- and lower-income families.
The tax proposal lays down a big marker in the 2008 campaign tax debate and is likely to spur Mr. Edwards's main rivals for the Democratic nomination, Sens. Hillary Clinton of New York and Barack Obama of Illinois, to detail their tax prescriptions in the coming months.
See link - http://online.wsj.com/article/SB118548333453979331.html?mod=googlenews_wsj
Question - What are your thoughts ?
2007-07-28 03:22:30 · 9 answers · asked by Anonymous in Politics & Government ➔ Politics
Why should capital gains taxed be raised ?
That is a tax on the investor. Anyone can be an investor.
Investing is the only way to raise your standard of living without winning the lottery and the odds are much better.
when I was 18 years old the bank I had a small account to cash my checks at went public (started offering stock) I bought $1,000 dollars worth at $10 dollars a share I received 100 shares.
In one year the shares went up to $40 MAKING MY STOCK WORTH $4000, that was great until I discovered I had to pay 33% of that to the IRS making my four grand into 2,680.
This was money I worked for then paid taxes then took a risk (icould have lost the money just as fast) and when I gained the goverment hit me with a 33% tax when my normal tax rate was around 10%. I was only making around 12,000 a year.
Investment and savings is the path to a better life and the goverment should help the little guy buy letting them keep more of what they eraned.
2007-07-28 03:59:53 · answer #1 · answered by Luchador 4 · 2⤊ 0⤋
im all for free enterprise but! Every year ONE company brings in 500- 600 newly graduated accountants to washington D.C. and spends hundreds of thousands in two weeks training them in how to support their clients in dodging taxes some of them are encouraged to join the washington dc office that lobbies congress on tax issues for...... you guessed it.... business and high income individuals.
Jonh Edwards and the DemoCommies can raise all the taxes they want there is a multi billion industry that is standing by to keep them from paying. the real answer is to scrap the current tax code. Put the IRS and all these tax advisors out of work.
2007-07-28 10:35:34 · answer #2 · answered by Anonymous · 2⤊ 0⤋
I think that people who make over 200,000 should carry the larger burden of the tax base rather than the lower and middle classes as is currently.
2007-07-28 10:27:49 · answer #3 · answered by Anonymous · 3⤊ 2⤋
Flat tax is the way. Everyone pay the same percentage.
2007-07-28 10:35:09 · answer #4 · answered by Anonymous · 2⤊ 1⤋
These people are sick. Why don't they propose getting rid of costly government programs that do absolutely nothing and take that wasted money and put it to GOOD use?
Instead, all they can offer are higher taxes.
2007-07-28 10:30:32 · answer #5 · answered by Anonymous · 3⤊ 2⤋
You'll never find a tax professional detail this type of crap
2007-07-28 10:37:13 · answer #6 · answered by Greg 7 · 1⤊ 0⤋
I'm not surprised. The dems think they are Robin Hood, robbing the rich to support the poor!
They love the idea of penalizing the hardest working and rewarding the least working!
Fair tax please!
2007-07-28 10:27:55 · answer #7 · answered by Amanda B 4 · 4⤊ 2⤋
Get the H*ll out of my pockets...that's the thoughts that come instantly to mind.Second thought, No way in H*ll would I vote for any of them.
2007-07-28 10:27:08 · answer #8 · answered by Erinyes 6 · 3⤊ 1⤋
Tax the earners and give to the lazy.
2007-07-28 10:26:19 · answer #9 · answered by Abu#2 4 · 3⤊ 2⤋