Posted on 10/28/2008 7:23:20 AM PDT by NedRocker
I am either dumb of he is. Can someone please explain what the "capital gains tax" on small business is all about.
Thanks in advance
ALL YOU CAPITAL GAINS IS BELONG TO US!................
he has NO clue what he is talking about because his wealth is generated through graft and government salaries.
Capitol gains amount to confiscation of work, sweat and blood. Unless like a Kennedy you inherit your wealth.
I’m not sure, either. Unless profits are counted as capital gains, I don’t know if small businesses pay any capital gains taxes. I’ve been wondering if it’s all smoke and mirrors again.
One day a doctor will tell him he’s got an IQ of 40. Also known as Mentally Retarded.
CAPITAL GAINS TAX: The taxable profit derived from the sale of a capital asset. The capital gain is the difference between the sale price and the basis of the property, after making appropriate adjustments for closing costs, fixing up expenses, capital improvements, allowable depreciation, etc.
You forgot affirmative action and quotas, both he and his wife did well on those too.
Small businesses generally don’t have to worry about capital gains. Normally the income of a small busioness is income derived fromoperations, not the appreciation of capital holdings.
I think Obama has his head in his Democrat ass.
Profit realized on non-inventory items purchased at lower price. Typical capital gains items are stocks, bonds, , Real Estate....
The the owner of the Dolphins he is selling before Obama and said he would rather give the extra tax Obama wants to Charity than Obama.
Profits can’t be capital gains unless you invest in something (office building, equipment?) and then sell it for a gain. Individuals could invest in stock in a small business presumably, and sell it for a gain but none of this rhetoric makes any sense....
Obama’s an idiot. Individuals have capital gains; corporations have profits. Of course, Demoncrats immediately modify the word “profits” with the word “windfall” if your company has the word “Oil” in it.
And that was always my assumption, is that capital gains are associated with the sale of property, specifically (if not exclusively) real estate. (I have a small business associated with the mortgage industry.)
IMHO, when he makes it a major talking point the “average” American think he’s doing something for every small business.
Invest in a building for $500K for your business, sell it for $2M ten years later when you decide to retire. $1.5M is capital gains and subject to that tax right off the top.
That should tell us all something. I'm looking to sell off my shares before Jan. if the ONE is elected! He'll get NO share of my stocks!
I heard him say that, too. These people want to raise the capital gains tax but do not what what a capital gain is, or how it is taxed. Nor can they distinguish between a profit and a capital gain. Colossal ignorance and arrogance combined. Oh, I forgot, this guy went to Harvard. Woe betide our country.
This is a smoke screen that he throws out to the bots to show how much he’s doing for small business. Most wouldn’t know a capital gain if it hit them in the patooty, and don’t know that you have to sell an asset to aquire a capital gain. So all of us small business people will have to sell our businesses to qualify for the capital gains cuts he says he’ll give us.
“Unless like a Kennedy you inherit your wealth.”
There’s a death tax for that.
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