Obamacare's 24 Percent Cap Gains Tax (Obama Decides To Destroy Economic Investments)

ATR Blog ^ | 3/19/10 | Ryan Ellis

[Andrea19]

...The reconciliation language includes a 3.8 percent surtax on "unearned income," which includes capital gains.

The capital gains rate is already set to rise from 15 to 20 percent in 2011.

This surtax would result in a capital gains rate of 23.8 percent in 2014...

[Andrea19]

President Obama promised to repeal capital gains taxes on small businesses in his State of the Union address. It however seems that with Democrats today, any good deed must go mingled with poison; specifically the poisoning of any hope of recovery. Click on the link to find out just how Barack Obama plans to tax capital gains even more.

[IbJensen]

America can't afford to have Obozo continue on as president. Further, America can't afford to have a Congress stuffed with leftists and 'moderates.'

These weasely socialist/communists are a danger to our health both physically and economically.

[Republic]

Why is this in a HEALTHCARE bill?

[MrB]

They had to monkey with the CBO scoring.

[IbJensen]

Why are you surprised?

[castlegreyskull]

“They had to monkey with the CBO scoring.”

I think they had a monkey do the CBO scoring.

[yadent]

They need revenue. The government Ponzi scheme is in big trouble. Tax revenue in the states and at the Federal level is down and in my opinion will stay that way as the private sector is not recovering. The only entity keeping this economy going is the government with deficit spending. Hence the urgency for ‘healthcare’ reform with it’s revenue stream. The government could give a damn about your stinkin’individual healthcare. I know. I’m one of those government whores(CA employee).Well,was. Retired last month. After 25 years. One’s hypocrisy can only go so far ya know. Which reminds me, I want to thank all of the little people of California for your ‘contributions’ which made my employment possible. Hey, you elected them, I just collected.

[MrB]

I don’t think they think they need the revenue as much as they need the PROJECTION OF REVENUE in order to make the deficit appear smaller.

They use static scoring to show that an increase in a tax rate results in an increase in revenue,

when the opposite has been proven over and over again.

[Touch Not the Cat]

.
If I make money on my investments, I earned it.

Does that idiot Obama think people really throw darts at the WSJ when they pick stocks?

[MrB]

They’ve also included huge increases in taxes on your income from any rents, etc that you collect - basically, anything that isn’t a salary.

They know that their core constituency doesn’t tend to own rental real estate as their ideological opposites do.

[yadent]

You say potato, I say potatoe. You are correct of course. In government speak, the ‘projection’ of revenue and actual revenue is one and the same. I dealt with department budgets that were based on ‘projections’ and spent on those ‘projections’ as if they were actual. Did it for years.

[GailA]

I thought it was only 2.9%

Rally your local talk radio host into doing street protest in front of your reps local offices. Try and get the local media to cover it. Hammer the Medicare/SS issue, nothing like mad grannies and gramps.

This is from a 2007 contact list of congressional aides. Some might not be there any longer, but worth a try. The ones on the one post are senate aides, a few have bounced back, it’s worth the effort to clog up their email system along with the phones, and 1/3rd of these senators are up for re-election.

Mail must be inspected for anthrax.

Contact congressional aides.

http://www.freerepublic.com/focus/f-news/1857768/posts
U.S. Senate switchboard: (202) 224-3121
U.S. House switchboard: (202) 225-3121
White House comments: (202) 456-1111
Find your House Rep.: http://www.house.gov/writerep
Find your US Senators: http://www.senate.gov/general/contact_information/senators_cfm.cfm
Toll free to the US Senate:
1-800-882-2005. (Spanish number)
1-800-417-7666. (English number)
Courtesy of a pro-amnesty group, no less!!

Defeat Obamacare call list: List now contains the new MAYBES culled from FR posts. Be sure to call KNOWN RINOS too.THEY ARE ANSWERING THEIR LOCAL NUMBERS

Here is one of the ones Rush gave out on the radio 1-877-762-8762

Good idea from the bloggers at Hillbuzz:

http://hillbuzz.org/2010/03/17/action-items-march-17th-2010/
They offer specifics and links on how to put pressure on Dem DONORS, who have private numbers for legislators who may have taken their phones off the hook.

Congress may not want to hear from us, but they’ll listen to the money men.

KEEP THE CALLS UP! DC OFFICE LOCAL OFFICE

CODE RED Contact list http://www.nrcc.org/CodeRed/targets/
Remember they are all being offered BRIBES for their votes. Ask them how much their bribe price is.
The National Republican Congressional Committee has published a target list on health care. In addition to continuing to contact the five Tennessee Democrat Congressmen, you can go http://www.votervoice.net/link/clickthrough/ext/94697.aspx to contact some of these targets. Much of the talk following Obama’s announcement has focused on how to defeat this second bill through reconciliation, but that is misleading because the first step to defeating Obamacare is not by concentrating on defeating the “fixer” bill but by defeating the Senate bill in the House when it goes to the floor for an up-or-down vote on Thursday, March 18th.

RUSH says to pressure these 2

Charles Wilson, Ohio Toll Free Number 888-706-1833 DC (202) 225-5705 fx: (202) 225-5907, Bridgeport, (740) 633-5705 fx: (740) 633-5727, Canfield, (330) 533-7250 fx: (330) 533-7136 Marietta, : (740) 376-0868 fx: (740) 376-0886 Ironton, (740) 533-9423 fx: (740) 533-9359 Wellsville, 330) 532-3740 Canfield, here is the zip code 44406.
Joe Cao DC (202) 225-6636 Fax: (202) 225-1988, NO (504) 483-2325 Fax: (504) 483-7944

New FLIPPERS

Rep. Bart Gordon TN 202-225-4231 Murfreesboro office: 615-896-1986, 931-528-5907, 615-451-5174
Mark Schauer D.C. (202) 225-6276 Fax: (202) 225-6281 Jackson, MI (517) 780-9075
Fax: (517) 780-9081 Toll-Free: (877) 737-6407
Dennis Kucinish, Lakewood 216)228-8850, Fax (216)228-6465,
Parma. 440)845-2707, Fax (440)845-2743, DC (202)225-5871
Dennis Cardoza DC (202) 225-6131, Fax: 225-0819, 800-356-6424, Merced, (209) 383-4455 Fax: 726-1065 Modesto 209) 527-1914 Fax: 527-5748 Modesto, (209) 527-1914
Fax: 527-5748
Jim Costa Fresno 559-495-1620, Fax:559-495-1027, Bakersfeld, 661-869-1620 Fax: 661-869-1027 DC Phone:202-225-3341 Fax: 202-225-9308
Fax (202)225-5745
James Oberstar (202) 225-6211, Duluth (218) 727-7474, Chisholm (218) 254-5761, Brainerd (218) 828-4400, North Branch, (651) 277-1234
Gabrielle Giffords (202) 225-2542 (520) 881-3588 AZ 8th District
John Boccieri (D), Ohio Voted Yes on Stupak, NO on Health Care.Contact info - DC office (202) 225-3876 - Fax - (202) 225-3059 (330) 489-4414, Local Fax - (330) 489-4448
Betsy Markey DC 202.225.4676, fx. 202.225.5870, Ft. Collins, 970.221.7110fx 970.221.7240, Greeley, 970.351.6007 fx 970.351.6068, Lamar, 719.931.4003
fx 719.931.4005, Sterling, 970.522.0203 fx 970.522.1783
rec’d from NCTeaParty.com — Despite earlier assurances that he was a NO on health care reform and would not change his mind, Rep. Heath Shuler, NC 11, is now undecided.

Rep. Heath Shuler, North Carolina 11th
http://shuler.house.gov/ DC Office Number: (202) 225-6401, DC Fax Number: (202) 226-6422 Local Office Number: (828) 252-1651, Local Fax Number: (828) 252-8734 Chief of Staff: Hayden Rogers email: hayden.rogers@mail.house.gov

Rep. Lincoln Davis 202-225-6831 Columbia office: 931-490-8699
Rep. Jim Cooper 202-225-4311 Nashville office: 615-736-5295
John Tanner (202) 225-4714, Union City, (731) 885-7070, Jackson Phone: (731) 423-4848, Millington (901) 873-5690 TN (MAYBE)
Rep. Steve Cohen 202-225-3265 Memphis office: 901-544-4131
Harry Mitchell (202) 225-2190 (480) 946-2411 AZ 5th District
Ann Kirkpatrick (202) 225-2315 (928) 226-6914 AZ 1st District
Jerry McNerney (202) 225-1947 925-833-0643 CA 11th District
John Salazar 202-225-4761 970-245-7107 CO 3rd District
Jim Himes (202) 225-5541 (866) 453-0028 CT 4th District
Alan Grayson (202) 225-2176 (407) 841-1757 FL 8th District
Bill Foster (202) 225-2976 630-406-1114 IL 14th District
Baron Hill 202 225 5315 812 288 3999 IN 9th District
Gary Peters (202) 225-5802 (248) 273-4227 MI 9th District
Dina Titus (202) 225-3252 702-256-DINA (3462) NV 3rd District
Carol Shea-Porter (202) 225-5456 (603) 743-4813 NH 1st District
Tim Bishop (202) 225-3826 (631) 696-6500 NY 1st District
John Hall (202) 225-5441 (845) 225-3641 x49371 NY 19th District
Bill Owens (202) 225-4611 (315) 782-3150 NY 23rd District
James Matheson Toll-Free Number 1 (877) 677-9743 (202) 225-3011Mike Arcuri (202)225-3665 (315)793-8146 NY 24th District
Dan Maffei (202) 225-3701 (315) 423-5657 NY 25th District
Earl Pomeroy (202) 225-2611 (701) 224-0355 ND At-Large District
Steven Driehaus (202) 225-2216 (513) 684-2723 OH 1st District
Mary Jo Kilroy (202) 225-2015 (614) 294-2196 OH 15th District
Zach Space (202) 225-6265 (330) 364-4300 OH 18th District
Kathy Dahlkemper (202) 225-5406 (814) 456-2038 PA 3rd District
Patrick Murphy (202) 225-4276 (215) 826-1963 PA 8th District
Christopher Carney (202) 225-3731 (570) 585-9988 PA 10th District
Paul Kanjorski (202) 225-6511 (570) 825-2200 PA 11th District
John Spratt (202) 225-5501 (803)327-1114 SC 5th District
Tom Perriello (202) 225-4711 (276) 656-2291 VA 5th District
Alan Mollohan (202) 225-4172 (304) 623-4422 WVA 1st District
Nick Rahall (202) 225-3452 (304) 252-5000 WVA 3rd District
Steve Kagen (202) 225-5665 (920) 437-1954 WI 8th District
Bart Stupak (202) 225 4735 MI (MAYBE)
Brian Baird (202) 225-3536, Vancouver, (360) 695-6292. Olympia, (360) 352-9768, (MAYBE)
senator mark begich (202) 224-3004 toll free. (877) 501 - 6275 just became a MAYBE
Jason Altmire 202-225-2565, Aliquippa, 724-378-0928,
Natrona Heights, 724-226-1304 (MAYBE)

Congressional Dems on Twitter
http://www.arrghpaine.com/congressional-dems-on-twitter

[Texas Federalist]

The capital gains tax only brings in about $150 billion in revenue per year. Just think, we could have cut the tax to 0% for 1/7th of the cost of the stimulus and given a tremendous boost to the economy.

[twoputt]

My take on taxing unearned income is this will hurt retired folks who rely on interest and dividend income for living expenses. As far as I can tell, tax-exempt interest will escape this tax, so perhaps we’ll see an increase in municipal bond purchases. In addition, buying non-dividend paying stocks might make sense. Just think of ways you can deny feeding this monster.

[Dante3]

bttt

[9YearLurker]

I believe they have to show a budget savings to go to reconciliation, which they need only pretend interest in to givetheir last few votes coverage for “deeming’ the senate version passed, which will let Obama sign it into law.

[Gabrial]

“perhaps we’ll see an increase in municipal bond purchases”

I am looking into this today. I am thinking about tax free investments in municipals in Texas.

[atomicweeder]

I've been arguing that point for years. Cut capital gains tax (short and long term) to 0.

Within a year or two there would be $1-2 TRILLION in new investment flow into American corporations, who would have to hire like mad to develop products/services etc.

In turn, all those new hires would be paying income tax on their salaries -- tremendous revenue into the Federal government.

But Democrats are IDEALOGICALLY OPPOSED to helping the American economy, so they will never do it.

[4woodenboats]

The capital gains tax only brings in about $150 billion in revenue per year. Just think, we could have cut the tax to 0% for 1/7th of the cost of the stimulus and given a tremendous boost to the economy.

A certain percentage of real estate, equities, etc. holders are very likely floating this economy, turd that it is, due to liquidating assests before Obama plunders their hard earned, lifetime gains.

As soon as the attack on prosperity hits high gear, liquidity will come to a screeching stop, as investors will simply hold until this banana republic moves on.

No liquidity in investments plus massive tax burdens = The Mother Of All Crashes....what we saw when The Undocumented One was elected is a blip compared to what's coming.

When Bush inherited the Dot Com Bust and 911, he increased liquidity, and we were soon on the mend, even though congress wouldn't let us send supplies to our troops unless we'd double the size of the bill with pork.

What'd we go....5, 6 months of starving out the troops in one year? I sure wish he'd grow a set like the one gracing the Cheney's front lawn, but it ain't gonna happen.