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Keyword: capitalgains

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  • What is Capital Gains ?

    02/13/2014 4:06:57 AM PST · by knarf · 23 replies
    self | Februry 13, 2014 | knarf
    I recently posted some money I got from a gas well near me ...
  • Taxing Stock Sales Will Hurt the Stock Markets

    12/06/2012 8:55:44 AM PST · by SeekAndFind · 8 replies
    IBD ^ | 12/06/2012
    Our ever-expanding government and its enablers will tax everything that moves - and everything else. Their newest idea - taxing stock sales - ultimately hurts not the rich, but those who seek jobs. Democratic Rep. Peter Welch of Vermont, a senior member of the House Oversight and Government Reform Committee's subcommittee on financial services, wants Uncle Sam to start taxing stock transactions. Interviewed by disgraced ex-New York Gov. Eliot Spitzer - also known as "Client No. 9" - about imposing "a tiny little tax when stocks are traded on Wall Street" to "raise a huge sum of money and it...
  • IRS aims to clarify investment income tax under healthcare law

    12/03/2012 7:37:40 PM PST · by Beave Meister · 17 replies
    Reuters ^ | 12/3/2012 | Patrick Temple-West
    (Reuters) - The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law. The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied to capital gains and dividend income. The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI), and married couples filing jointly with more than $250,000 of MAGI. The tax applies to a broad range of...
  • Obama's Most Dangerous Tax Hike: Savings and Investments

    12/02/2012 2:59:12 AM PST · by Kaslin · 22 replies
    Townhall.com ^ | December 2, 2012 | Kevin Glass
    President Obama proposed tax hike contains a lot to dislike, but what hasn't gotten much attention is the tax hike on savings and investments. While the marginal income tax rate will rise from 35% to 39.6% for top income-earners and small business owners, the proposed tax hike on capital gains and dividends could cause the most long-term economic damage. That's not to downplay the rise in marginal rates. It could cost hundreds of thousands of jobs over the next few years. More universally acknowledged by economists, however, is the economic harm that savings and investment taxes do. In the Tax...
  • Wealthy Dump Assets Amid Worries About Going Over 'Cliff'

    11/12/2012 5:23:35 PM PST · by Innovative · 25 replies
    CNBC ^ | Nov 12, 2012 | Robert Frank
    Wealth advisors say that with capital-gains taxes potentially going to 25 percent from 15 percent, and other possible increases in the dividend tax, estate tax and other taxes, many clients are selling now to save millions in taxes. If the Bush-era tax cuts expire, taxes on capital gains would revert back to its previous rate of 20 percent from its current 15 percent. Another 5 percent may be added from health-care levies and changes in itemized deductions, bringing the rate to 25 percent for many high earners. Taxes on dividends could go from 15 percent to over 43 percent. And...
  • EU: French business erupts in fury against "disastrous" Hollande

    10/15/2012 10:17:08 PM PDT · by bruinbirdman · 18 replies
    The Telegraph ^ | 10/15/2012 | Ambrose Evans-Pritchard
    France is sliding into a grave economic crisis and risks a full-blown “hurricane” as investors flee rocketing tax rates, the country’s business federation has warned. Francois Hollande is tightening fiscal policy by 2pc of GDP next year to meet EU deficit targets “The situation is very serious. Some business leaders are in a state of quasi-panic,” said Laurence Parisot, head of employers’ group MEDEF. “The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. It’s becoming really dramatic.” MEDEF, France’s equivalent of the CBI,...
  • French business erupts in fury against "disastrous" François Hollande

    10/16/2012 6:51:02 AM PDT · by LucianOfSamasota · 33 replies
    The Telegraph ^ | 15 Oct 2012 | Ambrose Evans-Pritchard
    France is sliding into a grave economic crisis and risks a full-blown “hurricane” as investors flee rocketing tax rates, the country’s business federation has warned. “The situation is very serious. Some business leaders are in a state of quasi-panic,” said Laurence Parisot, head of employers’ group MEDEF. “The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. It’s becoming really dramatic.” MEDEF, France’s equivalent of the CBI, said the threat has risen from “a storm warning to a hurricane warning”, adding that the Socialist...
  • Thomas Sowell: A Lesson on Capital-Gains Taxes (Something even Warren Buffet must learn)

    10/03/2012 5:08:41 AM PDT · by SeekAndFind · 11 replies
    National Review ^ | 10/03/2012 | Thomas Sowell
    One of the many false talking points of the Obama administration is that a rich man like Warren Buffett should not be paying a lower tax rate than his secretary. But anyone whose earnings come from capital gains usually pays a lower tax rate. How are capital gains different from ordinary income? Ordinary income is usually guaranteed. If you work a certain amount of time, you are legally entitled to the pay that you were offered when you took the job. Capital gains involve risk. They are not guaranteed. You can invest your money and lose it all. Moreover, the...
  • Freep a Poll! (should 15% long term capital gains tax be raised?)

    10/02/2012 2:25:43 PM PDT · by dynachrome · 15 replies
    www.kiplinger.com ^ | Kiplinger newsletter
    Some budgeteers argue that the 15% tax rate on long-term capital gains should be raised as part of efforts to cut the federal deficit. Do you agree? Yes. This is the primary reason that income inequality has grown in the U.S. No. A low capital gains rate is the key to encouraging investment in our economy. Not sure
  • Capital Gains Taxes

    10/01/2012 10:08:44 AM PDT · by jazusamo · 21 replies
    Creators Syndicate ^ | October 2, 2012 | Thomas Sowell
    One of the many false talking points of the Obama administration is that a rich man like Warren Buffett should not be paying a lower tax rate than his secretary. But anyone whose earnings come from capital gains usually pays a lower tax rate. How are capital gains different from ordinary income? Ordinary income is usually guaranteed. If you work a certain amount of time, you are legally entitled to the pay that you were offered when you took the job. Capital gains involve risk. They are not guaranteed. You can invest your money and lose it all. Moreover, the...
  • Mitt Romney Would Pay 0.82 Percent in Taxes Under Paul Ryan's Plan

    08/11/2012 4:38:44 PM PDT · by moonshot925 · 35 replies
    The Atlantic ^ | 11 August 2012 | MATTHEW O'BRIEN
    Under Paul Ryan's plan, Mitt Romney wouldn't pay any taxes for the next ten years -- or any of the years after that. Now, do I know that that's true. Yes, I'm certain. Well, maybe not quite nothing. In 2010 -- the only year we have seen a full return from him -- Romney would have paid an effective tax rate of around 0.82 percent under the Ryan plan, rather than the 13.9 percent he actually did. How would someone with more than $21 million in taxable income pay so little? Well, the vast majority of Romney's income came from...
  • How the Richest 400 People in America Got So Rich

    07/12/2012 9:12:25 PM PDT · by Beave Meister · 11 replies
    The Atlantic ^ | 7/6/2012 | Derek Thompson
    In 1992, the 400th richest person in America made $24 million. In 2007, the 400th richest person in America made $138 million (or $87 million, inflation-adjusted). Now, that almost certainly wasn't the same guy. There's a lot of churn at the top of the money pyramid. In all of the 1990s, only 25% of the Fortunate 400 made more than one appearance. But the overall message is the same. The rich keeping getting richer. According to the IRS, which recently released 2009 data from the 400 richest individual income tax returns, the real runaway growth in wealth has come from...
  • Obam's "Populist" Tax Platform Puts Retirees at Risk

    07/10/2012 5:59:56 AM PDT · by Innovative · 4 replies
    Yahoo Finance ^ | July 10, 2012 | Josh Brown
    President Obama on Monday reiterated his push to extend the Bush Tax cuts for the middle class but not the 2% of U.S. households making more than $250,000. But millions of middle class Americans are at risk of higher taxes if no action is taken before Jan. 1, notes Josh Brown, vice president of Fusion Analytics and author of The Reformed Broker blog. Specifically, Brown is concerned about the sharp rise in taxes on dividends and capital gains that will occur as part of the so-called fiscal cliff -- or "taxmageddon" if you prefer. If Congress fails to act, the...
  • Capital Ideas

    04/14/2012 5:40:56 AM PDT · by fporretto · 1 replies
    Liberty's Torch ^ | April 14, 2012 | Francis W. Porretto
    In the ongoing presidential campaign, we may expect a handful of broad themes to receive the overwhelmingly greater fraction of the Democrat propagandists' efforts: "Republican war on women" "The 1%" "Fairness" The "fairness" canard is, of course, aimed at cowing the GOP's Congressional caucus, its candidates, and the electorate into bowing to higher taxation. In this connection, the Democrats' dominant meme has been that "millionaires and billionaires" are somehow evading paying their "fair share" of federal taxes, and that this contributes to the immense Obamunist deficit. Let's see if I can make this as striking as it always was at...
  • No Senate Budget But It Ponders Buffett Rule Law

    02/06/2012 5:26:55 PM PST · by Kaslin · 3 replies
    IBD Editorials ^ | February 6, 2012
    Taxes: The Senate hasn't passed a budget in over a thousand days, yet it has time to consider one member's bill to make the no-growth logic of the administration's favorite billionaire the law of the land. Senate Majority Leader Harry Reid, Democrat from the state ranking among the highest in foreclosures and unemployment, would prefer leaving the ship of state to drift rudderlessly. "We do not need to bring a budget to the floor this year — it's done, we don't need to do it," Reid told reporters Friday. Reid's idea of getting things done is punting to a supercommittee...
  • Business: What Steiger Would Do

    09/20/2011 7:23:34 AM PDT · by ReleaseTheHounds
    Time Magazine ^ | July 10, 1978
    Would the Steiger amendment benefit chiefly the rich, as the President says? Not really. Undeniably, a cut in the capital gains tax below the present top rate of 49% would help mainly people in (or above) the 50% tax bracket, who are more likely to own stock and other assets. To be in that lofty bracket, one needs taxable income of about $40,000 or more. But a lot of "average" taxpayers leap into the higher brackets a few times in their lives—when they sell a house, a farm, or the stock that Aunt Tillie left them; or when they collect...
  • Making a Point to JP Morgan Chase (Vanity)

    01/22/2011 9:26:22 AM PST · by sjneuf · 10 replies
    1/22/11 | Self
    Cashed out approximately $45K of JP Morgan Chase stock due to the blatant cronism between it and Obama. Need info on where to send copy of trade confirmation and explanation of decision to get rid of stock. Thoughts/info in this regard are appreciated. Thanks.
  • Microsoft CEO Ballmer to sell off 75 million shares (Avoiding Cap Gains tax hike)

    11/07/2010 8:56:49 AM PST · by AKSurprise · 24 replies
    CNet News ^ | 11/05/10 | josh Lowensohn
    "This is the first time in seven and a half years that Ballmer has sold stock. His previous sales of Microsoft stock back in 2003 came in just under $1.6 billion. According to SEC filings, Ballmer has already sold off 49,341,652 shares of common stock across three different transactions this week, totaling a little more than $1.3 billion. Coincidentally, Microsoft chairman and founder Bill Gates also sold some of his company stock this week with two different sales (1, 2) totaling an even 3 million shares. The tax ramifications on the two sales are of special note given the savings...
  • Investors, Brace Yourselves for Tax Hikes

    09/26/2010 3:26:25 PM PDT · by Jet Jaguar · 23 replies · 1+ views
    Thestreet.com ^ | Sep 26, 2010 | William Ehart
    As if battered investors needed more abuse, they are in for a rude awakening at the end of the year. SNIP The most dramatic change will be in the taxation of dividends. Who doesn't love big, stable dividend-paying companies in these uncertain times? Well, you may have to adjust your portfolio as the tax on dividends will rise from the current Bush-era maximum capital gains rate of 15% to a Clinton-era maximum income-tax rate of 39.6%. While Obama had proposed a 20% tax on dividends as an alternative, that now appears unlikely given budget rules enacted by Congress. Speaking of...
  • Obama and the Age of Reaganomics

    08/01/2010 2:53:00 AM PDT · by Scanian · 2 replies · 1+ views
    The American Thinker ^ | August 01, 2010 | Jon N. Hall
    Certain ideas get so firmly fixed in some folks' brains that no amount of evidence can dislodge them. Such ideas become articles of faith. And one article of faith that is particularly deeply stuck in the minds of "the faithful" is that Reaganomics doesn't work. The big idea behind Reaganomics is that cutting tax rates boosts the economy, which results in more tax revenue. The history of the last three decades bears this out. The faithful have tried to disprove Reaganomics by contending that the 1993 tax rate hike is what gave us the good economy and the balanced budgets...
  • Europe Slams Obama's Stimulus Plan; History Shows Obama's Plan is Ass Backwards

    06/22/2010 11:30:02 PM PDT · by Fred · 6 replies · 1+ views
    President Obama is hanging out to dry all by himself as ECB president Jean-Claude Trichet, German Chancellor Angela Merkel, and British Prime Minister David Cameron are all wisely going ahead with austerity measures instead of the stimulus measures that Obama and his Keynesian clown advisors want.
  • Medvedev sees chance for new world order

    06/18/2010 8:21:45 PM PDT · by Rennes Templar · 19 replies · 694+ views
    Financial Times Europe via Drudge ^ | June 18, 2010 | By Catherine Belton, Charles Clover and Courtney Weaver in St Petersburg
    Dmitry Medvedev, the Russian president, said Moscow was bidding to help lead efforts to build a new world economic order after the old system collapsed in the global financial crisis. Opening Russia’s annual economic forum in St Petersburg where hundreds of global chief executives have flocked, Mr Medvedev said the renewed interest in Russia this year was a sign of a changing world in which the institutions of the western-dominated world order had had their day amid thousands of corporate defaults and the threat of sovereign defaults. EDITOR’S CHOICE Economic woes bring Russia and EU closer - May-30Russia eyes deep...
  • Tax Hikes May Feed Short-Term Investing

    04/15/2010 7:46:39 AM PDT · by Slyscribe · 4 replies · 422+ views
    IBD's Capital Hill ^ | 4/14/2010 | Jed Graham
    From a stock market standpoint, the combination of tax changes due to take effect at year-end seems to be the worst of both worlds. For those with both short-term and long-term gains, their taxes are set to rise, providing an incentive to take profits. Further, because of the increase in taxes on long-term capital gains, those with short-term gains will have a reduced tax incentive to hold on to their positions for a full year and convert them to long-term gains. Investors holding gains on positions established in 2010 face a choice: sell this year and face a 35% income...
  • The Rich Can't Pay for ObamaCare

    03/30/2010 7:35:12 AM PDT · by reaganaut1 · 10 replies · 1,172+ views
    Wall Street Journal ^ | March 30, 2010 | Alan Reynolds
    President Barack Obama's new health-care legislation aims to raise $210 billion over 10 years to pay for the extensive new entitlements. How? By slapping a 3.8% "Medicare tax" on interest and rental income, dividends and capital gains of couples earning more than $250,000, or singles with more than $200,000. The president also hopes to raise $364 billion over 10 years from the same taxpayers by raising the top two tax rates to 36%-39.6% from 33%-35%, plus another $105 billion by raising the tax on dividends and capital gains to 20% from 15%, and another $500 billion by capping and phasing...
  • Capital Gains Taxes Set To Rise, Crimping Investment, Savings

    03/25/2010 6:44:02 AM PDT · by Slyscribe · 2 replies · 341+ views
    Investor's Business Daily ^ | 3/23/2010 | Jed Graham
    Bull markets always have to climb a wall of worry. This one also will have to climb a stairway of tax hikes. Democrats' health care overhaul (including the still-pending reconciliation bill) nearing the finish line would apply a 3.8% Medicare tax on investment gains earned by upper-income households starting in 2013. Along with a partial expiration of 2003 tax cuts at year-end, rates on long-term capital gains and dividends are due to jump in two steps from 15% to 23.8%. The big shift in tax policy is one that could raise the barrier to saving and investment in a savings-short...
  • Capital Gains Taxes Set To Rise, Crimping Investment, Savings

    03/24/2010 11:55:54 PM PDT · by SmartInsight · 7 replies · 893+ views
    Bull markets always have to climb a wall of worry. This one also will have to climb a stairway of tax hikes. Democrats' health care overhaul (including the still-pending reconciliation bill) nearing the finish line would apply a 3.8% Medicare tax on investment gains earned by upper-income households starting in 2013. Along with a partial expiration of 2003 tax cuts at year-end, rates on long-term capital gains and dividends are due to jump in two steps from 15% to 23.8%. The big shift in tax policy is one that could raise the barrier to saving and investment in a savings-short...
  • Larry Summers: Almost All Economists Believe More Taxes Fuels Job Growth

    02/11/2010 10:25:34 AM PST · by 198ml · 38 replies · 825+ views
    Business and Media Institute ^ | 2/10/10 | Anthony Kang
    President Obama continuously tries to portray himself as a friend to the little-man, middle class and small business. Hence his attacks on “fat cats” who “just don’t get it,” while labeling the extravagant bonuses as “obscene,” and “the height of irresponsibility.” Meanwhile, members of his administration, in defending a sweeping small-business aid program Obama announced in his State of the Union, give reason to wonder if they really understand how to help small business. Among the administration’s proposals for small businesses are a $5,000 tax credit to hire new workers, elimination of capital gains taxes, and new incentives to invest...
  • Keep The Cuts

    01/25/2010 5:31:21 PM PST · by Kaslin · 4 replies · 449+ views
    Investors.com ^ | January 25, 2010 | INVESTORS BUSINESS DAILY Staff
    Taxes: On the eve of President Obama's first State of the Union address, two Democratic congressmen are advising him to extend the Bush tax cuts instead of letting them expire. Now that's a stimulus. We hear that the administration is considering taking a more populist tack as it sails the choppy political waters of 2010. Some of President Obama's plans reportedly include several tax tidbits for the "middle class," including a doubling of the child care tax credit for families below $85,000 in income, and $1.6 billion for child care and a cap on student loan payments. Such transparent populism...
  • Newt Gingrich : Capital Gains Tax: An Argument for Repeal

    08/13/2009 5:25:16 AM PDT · by SeekAndFind · 5 replies · 737+ views
    The American ^ | 8/13/2009 | Newt Gingrich
    President Obama recognizes the powerful positive economic impact a capital gains tax cut would have for small business owners—so why not give it to every American family and business in order to encourage growth and success? President Barack Obama’s budget for 2010 presented a number of tax cuts to spur economic growth. Most notably, his budget called for a reduction of the capital gains tax for small businesses. Apparently, President Obama recognizes the powerful, positive economic impact a capital gains tax cut would have for small business owners. Since the cut would be good for small businesses, why would President...
  • Question? Nobama just said it again...

    10/28/2008 7:23:20 AM PDT · by NedRocker · 51 replies · 1,660+ views
    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
  • Don't wed Obama Nov. 4(Obama Raises Taxes in Sen. and in Plan)

    10/13/2008 12:30:36 AM PDT · by Fred · 12 replies · 1,155+ views
    Ventura County Star ^ | Monday, October 13, 2008 | Terry Paulson
    If elected, Sen. Barack Obama will be my president as well. In these difficult times, I will support him where I can and challenge him where I must, but here are the reasons not to give him that opportunity. In these perilous times, Obama's lack of a proven record and relevant experience is a major concern. The president of the United States should not be an entry-level position. Experience matters. It's not a sufficient qualification, but it's certainly a necessary one. Without a track record of impressive experience, voters look at a candidate's judgment. That's why Obama's judgment in picking...
  • The Difference Between 1993 and 2009 (Obama's Plan Raises Taxes)

    10/13/2008 12:22:25 AM PDT · by Fred · 36 replies · 1,781+ views
    Seeking Alpha ^ | 101208 | Anton Wahlman
    At the center of Senator Obama's tax policy argument is that by raising taxes on the top 5% of income earners, we are only returning to President Clinton's 1993 tax increases. Let's for a moment leave aside that Obama really is looking to raise taxes on social security (above incomes of $103,000) and on everyone's capital gains, regardless of income. Rather, the Obama argument goes that because we had a relative economic boom following the 1993 tax increase, it's perfectly safe to raise taxes in 2009 as well. Wrong. There is a major difference between 1993 and 2009 that Obama...
  • Obama Votes to Raise Taxes 94 Times (McCain/Palin Ad)

    10/13/2008 12:01:16 AM PDT · by Fred · 12 replies · 1,034+ views
    John McCain Campaign ^ | 101308 | JohnMcCain.com
    John McCain Ad Obama, Tax Cutter?
  • More Spin: Now Obama Says That He Will Give A Capital Gains Tax Cut To Small Business Owners

    10/01/2008 3:43:24 PM PDT · by Laissez-faire capitalist · 26 replies · 735+ views
    10/1/2008 | Laissez-Faire Capitalist
    First Barack Obama said that he would give tax cuts to 95% of Americans and would raise taxes on those making over $250,000 per year. When this was exposed as being mere political fluff and void of any real substance (since 40%+ of Americans don't pay any federal income tax), Obama rolled out the usual spin and said that he would give a tax cut to 95% of Americans who pay federal income taxes. But he continued to say that he would raise taxes on those who make more than $250,000 per year. When it was exposed through various media...
  • Obama? Can ANYONE Trying to Retire Afford Him?

    09/15/2008 11:10:20 PM PDT · by maclogo · 30 replies · 296+ views
    9-16-08 | Maclogo
    Ok, Barack wants to raise the capital gains tax from 15% To 20-28%. Last time I checked that's a minimum of a 33% INCREASE in your capital gains taxes per YEAR! You have got to be kidding me! That means if you make $10,000 in a given year on your hard-earned investments, you will pay an extra $3300. per year to help support the government and the wonderful programs that "support" your lifestyle and future existence. I for one, think this is the most idiotic plank that has ever laid over over any platform.
  • GOP Passes Pro-Investor Platform

    While the Democrats play out the Billary –Obama Saga. The Republicans are at work finalizing their platform.
  • Obama's Social Security Fine Print (60% INCOME TAX)

    06/25/2008 1:25:56 PM PDT · by rightwinggoth · 16 replies · 634+ views
    Wall Street Journal ^ | June 25, 2008 | Donald Luskin
    Last week, Barack Obama revealed his plan to shore up Social Security's shaky finances by raising the income level on which the payroll tax is applied. Currently, incomes above $102,000 are exempt, with that threshold rising every year indexed to wage inflation. Mr. Obama would keep that limit in place, but then assess payroll taxes on incomes above $250,000, which his campaign claims would apply to only the richest 3% of Americans. Mr. Obama angered liberals last year when he admitted that there was a "Social Security crisis." But at least Mr. Obama's base should be appeased now that his...
  • Heavenly Tax Havens

    02/26/2008 3:57:18 PM PST · by Tolerance Sucks Rocks · 80 replies · 624+ views
    Cato Institute ^ | February 26, 2008 | Daniel J. Mitchell
    The German government's purchase of data stolen from a Liechtenstein bank has reinvigorated longstanding debates about privacy, law enforcement and international relations. Much of the fallout has followed predictable patterns. Some argue that Germany's richest citizens should be brought to justice for failing to comply with the tax laws, while others point out that it is unseemly for a nation to spy on a peaceful neighbor. The conflict between Germany and Liechtenstein also has triggered a broader debate about tax competition and the role of so-called tax havens. The Paris-based Organization for Economic Cooperation and Development is trying to use...
  • HR 3648: Changing the Capital Gains Tax Exemption (Housing)

    10/23/2007 3:08:44 PM PDT · by taildragger · 24 replies · 318+ views
    nuwireinvestor ^ | 10/16/2007 | Cali Zimmerman
    When 2008 rolls around, investors who anticipated a capital gains tax exemption on the sale of their investment real estate may run across a kink in their plans. HR 3648, a bill working its way through Congress, would alter the requirements for exemption on primary residences so that many investment properties will no longer qualify, leaving investors to pay a capital gains tax from which they would previously have been exempt.
  • Tax Cuts Raise Tax Revenues - Vanity

    02/09/2007 10:43:20 AM PST · by buwaya · 17 replies · 462+ views
    Buwaya
    I have an interest in the Federal Budget, being a sort of busmans holiday to my professional duties. I have been following the Congressional Budget Office postings for several years. In the course of a discussion on budget deficits, I decided to look into whether tax cuts do or do not raise tax revenues. The conventional wisdom today is that they don't. It seems to me, after examining the evidence in specific cases, that we have solid evidence to the contrary. This particular case can be traced to specific provisions in a specific piece of legislation, the Jobs and Growth...
  • Google Stock Boom Boosts Calif. Coffers

    01/06/2007 7:41:29 PM PST · by 2ndDivisionVet · 2 replies · 480+ views
    iwon news/AP ^ | January 6, 2007
    Someday, this era may simply be known as The Google Years. California, whose budget revenue slides up and down like a yo-yo with changes in capital gains and stock options, is once again counting on outsized income tax filings from a handful of tech executives to help balance its budget. For this wave, California can largely thank Google Inc. After cashing in more than 9 million shares valued at $3.7 billion last year, 16 Google insiders will owe the Golden State as much as $380 million in taxes — enough to cover the salaries of more than 3,000 state workers....
  • Paulson Gives Pause (Treasury Secretary Nominee Against Tax Cuts)

    06/28/2006 10:34:47 PM PDT · by Lancey Howard · 9 replies · 554+ views
    The American Spectator ^ | 6/28/2006 | Washington Prowler
    According to sources familiar with the prep sessions with Paulson, the former Wall Street executive and well-known supporter of and financial contributor to Democrats could not get in line with the Bush administration's support for ending the estate or "death" tax, and permanent extension of the capital gains tax and other tax cuts that are due to expire in the next three years.
  • The 2003 Tax Cut on Capital Gains Entirely Paid for Itself

    06/22/2006 9:24:09 AM PDT · by Mikey_1962 · 12 replies · 622+ views
    NRO ^ | 6/22/06 | Mikey_1962
    On Thursday the Congressional Budget Office released its annual Budget and Economic Outlook, and buried in one of its nearly impenetrable tables of numbers is a remarkable story that has gone entirely unreported by the mainstream media: The 2003 tax cut on capital gains has entirely paid for itself. More than paid for itself. Way more. To appreciate this story, we have to go back in time to January 2003, before the tax cut was enacted. Table 3-5 on page 60 in CBO’s Budget and Economic Outlook published in 2003 estimated that capital-gains tax liabilities would be $60 billion in...
  • April Tax Revenue 2nd-Highest in History

    05/10/2006 2:31:01 PM PDT · by libstripper · 16 replies · 574+ views
    Associated Press ^ | May 10, 2006 | MARTIN CRUTSINGER
    A flood of income tax payments pushed up government receipts to the second-highest level in history in April, giving the country a sizable surplus for the month.
  • Everybody's Doing It: Abolish The Capital Gains Tax

    04/17/2006 12:38:25 PM PDT · by Tolerance Sucks Rocks · 80 replies · 1,208+ views
    GOPUSA ^ | April 17, 2006 | Rod D. Martin
    How many times have we heard liberals exhorting America to act like the rest of the world? For literally decades, the denizens of the left have been badgering us to adopt socialized medicine, abolish capital punishment, and support other "progressive" measures so we can appear more "enlightened" to their friends in Old Europe and other lovely places. Never mind that their ideas are anything but progressive, particularly if by "progressive" we mean the achievement of actual progress. Hyper-progressive France, for instance, has had double-digit unemployment for most of the past quarter century, even with a 35-hour work week; its youth...
  • Tax Cut Extension Conference Delayed by Dems

    03/09/2006 8:11:09 AM PST · by editor5 · 1 replies · 139+ views
    BeltwayBlitz ^ | March 9, 2006 | The Editor
    An update to yesterday's post on House-Senate conference on tax reconciliation bill. Nobody is covering this...not in the MSM or anywhere else, but it's of vital import for the economy.
  • Lower Rate, Higher Revenue

    02/04/2006 9:55:37 AM PST · by Coleus · 11 replies · 425+ views
    The New York Sun ^ | 0202.06 | PHILIP G. KERPEN
    Capital gains tax revenues have increased in the three years since President Bush cut the capital gains tax rate, proving free-market economists right, and bureaucrats wrong. As Nobel laureate Milton Friedman often says, when you tax something you get less of it, and when you tax something less you get more of it. The "it" in this case is capital gains, which are the amount of money you make when you sell something for more than you paid for it. Capital gains have jumped because the rate reduction boosted the after-tax return on capital, reviving the stock market as well...
  • Tax cut beneficiaries

    01/13/2006 1:46:17 PM PST · by Small-L · 1 replies · 247+ views
    JWR ^ | Jan. 11, 2006 | Walter Williams
    Republican and Democratic big government advocates whine about President Bush's proposed tax cuts, particularly cuts in the capital gains tax. They say it's a $70 billion giveaway to the rich. Listening to demagoguery about the rich, I've sometimes wished that we could find a humane way to get rid of the rich so that we might better focus on what's in the interests of the other 99.44 percent of us. Creating more equipment, whether it's earthmovers, computers or technical innovation, is called capital formation. The capital gains tax is a tax on capital formation, and when anything is taxed, one...
  • Republicans Fight to Get Tax Cuts Through [AND FAIL...]

    11/15/2005 5:00:16 PM PST · by Sub-Driver · 12 replies · 566+ views
    Republicans Fight to Get Tax Cuts Through By MARY DALRYMPLE, AP Tax Writer 12 minutes ago Republicans labored to advance their tax cut plans Tuesday, failing to muster enough GOP support in the Senate to extend tax cuts for capital gains and dividends beyond their 2008 expiration. The Senate Finance Committee voted 14-6 to endorse a package that would cut taxes by $60 billion over five years but would omit a GOP priority of preserving reduced tax rates for investment income. Sen. Olympia Snowe (news, bio, voting record) of Maine, a moderate Republican holding a pivotal vote on the committee,...
  • WSJ: Revised Upward, Again (GDP, economic growth, marginal tax rates and prosperity)

    06/30/2005 6:04:13 AM PDT · by OESY · 10 replies · 606+ views
    Wall Street Journal ^ | June 30, 2005 | Editorial (full text)
    This is getting to be a habit, albeit mostly a pleasant one. The government revised its measure of first quarter economic growth again yesterday to 3.8%, up from its previous estimate of 3.5%, which was above its initial estimate of 3.1%. You may recall that the initial estimate inspired a great deal of fretting that the current economic expansion was heading south. But the 3.8% figure -- despite high oil prices -- matches the rate for the fourth quarter of 2004 and means that growth has now averaged close to a 4% annual rate for eight consecutive quarters going back...