Posted on 01/18/2015 3:26:44 PM PST by Libloather
**SNIP**
Obama will ask lawmakers to close a loophole allowing capital gains on inherited funds to go untaxed -- a so-called "trust fund" loophole the White House says allows billions of dollars in capital gains to go untapped by the government every year.
The administration’s proposal would exempt the first $200,000 in capital gains per couple plus $500,000 for a home, along with all personal property except for valuable art and collectibles. The rest would be treated for income-tax purposes as if it had been sold.
The total amount of money raised for the government by these actions would be about $210 billion over 10 years.
According to the White House, 99 percent of the tax burden from the capital-gains proposals would be paid by the top 1 percent of households, and more than 80 percent would be paid by the top 0.1 percent.
(Excerpt) Read more at dailymail.co.uk ...
$210 billion over ten years divided by 120 million taxpayers is about $200 each per year. Enjoy your windfall.
The only help we need from you you socialist puke, is your nightmare on the American people to finally be over.
Good grief!
Enjoy nothing. Middle class taxpayers wont see one thin dime of that money in cash or government services. Its all going to be pissed away by the government.
Class warfare was used successfully by Vladimir Lenin and Karl Marx. Why do you expect Obama to do otherwise?
Yeah,His major followers need more $300.00 sneakers.
That is fantastic.
Our weasels won’t have enough gonads to explain how this will destroy job creation.
Oh that’s good.
I think conservatives have the libtards beat in the area of political cartoons.
If I were Obama, I’d issue an executive order deeming a tax increase passed by Congress, and then I’d sign it into law.
They’d probably let him get away with it.
No such thing.
Obeeee doesn’t know that this is going nowhere.
Get off EVERYBODY’s back, first prick
Why do I get the feeling dear leader waited until NOW to do this so he can blame Republicans for anything bad happening because they won’t let him loot more from “the rich”?
And the GOP will stand and applaud like seals at the circus come the state of the union
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