[Red Badger]

ALL YOU CAPITAL GAINS IS BELONG TO US!................

[ilgipper]

he has NO clue what he is talking about because his wealth is generated through graft and government salaries.

[ButThreeLeftsDo]

http://blogs.abcnews.com/politicalradar/2008/08/obama-clarifies.html

[stocksthatgoup]

Capitol gains amount to confiscation of work, sweat and blood. Unless like a Kennedy you inherit your wealth.

[AnglePark]

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.

[IllumiNaughtyByNature]

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.

[freebilly]

Profit realized on non-inventory items purchased at lower price. Typical capital gains items are stocks, bonds, , Real Estate....

[scooby321]

If a small business ( either s-chapter S or LLC or another form of a business entity) has some item such as property, stock, a division it wants to sell. The profit that small business makes is taxed as captial gains.

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.

[Abathar]

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.

[blondee123]

The owner of the MIAMI DOLPHINS (per Drudge) is looking to sell his shares before Obama is elected!!!

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!

[3AngelaD]

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.

[graywaiter]

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.

[listenhillary]

Obama Hussein - You make it, we take it.

[Paine in the Neck]

He doesn’t know what he’s talking about on any subject. I’ve never seen anyone pass through more high-priced education and have so little of it rub off on him. This is why he doesn’t speak much without a written script. He is plain ignorant.

[OB1kNOb]

Obama means that anytime you succeed in your small business and increase your profitability, the government will capitalize on your gain by taxing you more and more........../s

[KarlInOhio]

I think it is a case of Obama promising something that is largely useless. Unless the small business is a company which has sold stock (as opposed to a sole propriotorship, partnership, S-Corp or LLC), it will only have a capital gain when it is sold - and even then the capital gain would be the owner's, not the company's. Most of the money a small business makes would either be profit listed on the owners 1040 or the company's 1040 if it is a chapter C corporation. Maybe small companies dealing in real estate would be affected, but in general it is as useless as telling small companies that they won't have to pay property taxes on their nuclear reactors.

[Petronski]

If your small business is a partnership, corporation, LLC, etc., then when you attempt to sell it, Uncle Sugar is going to hammer you, convict style.

[TheBattman]

I am either dumb of he is

Hmmm.... lets take another look...

[SampleMan]

When they are forced to liquidate their assets due to his confiscatory income taxes, he can then hit them again for capital gains.

[MrB]

That’s right up there with

“most of those capital gains are in 401k’s”

in response to the statement that 70+% of taxpayers reported capital gains on their income taxes.

(pssst, Barry - if it’s in a 401k/IRA, it doesn’t get reported on your income tax return)