I just found out, if we reduce capital gains to zero percent it will solve the crisis

[Wetzelbill]

and the American taxpayers won't have to pay a red cent.

:rofl:

[HeraldSquare212]

1. I almost fell over when I saw that that was the House Reps proposal. They haven't had a new idea

since 1980.

[Wetzelbill]

3. one of my friends told me that

oh wow, I can't believe anybody takes that stuff seriously.

[tosh]

10. Are you serious??

No! They didn't! Did they? :shrug:

[HeraldSquare212]

16. I read it yesterday - a two-year suspension of the capital gains tax

they feel this will help the private sector accumulate capital and bail themselves out.

[onenote]

2. Only if we also ban same sex marriage and bar flag burning

Need the complete package...

[KitchenWitch]

4. don't forget the compulsory Pledge of Allegience provision

[Wetzelbill]

5. and make English our official language

I think that would add a lot.

[kirby]

6. How much capital gains does one pay on a loss anyhow? LOL! n/t

[Wetzelbill]

9. I don't even know how that makes any sense at all

Is there any logic in there somewhere? Any?

[tosh]

15. That was my thought. Losses for years if the doomsday

scenario proves right.

[LSK]

7. where do you see their "plan"?

[Wetzelbill]

11. I'm not sure

My friend just told me that.

[billyoc]

8. Dubbed "The Helmsley Plan"

by billyoc. :eyes:

[Wetzelbill]

13. hahahaha

Good one.

[Lex]

18. LOL!

:rofl:

[unblock]

12. the 15% tax is the ONLY thing holding me back from hiring 250,000 americans and making a fortune

i'm just not properly motivated because of that damn 15% tax. if it were zero percent, i'd be starting my own company on monday!

until then, my incentives evidently encourage me to live paycheck to paycheck, toiling away for "the man".

[Wetzelbill]

22. You too!

And that is so sexist, I toil away for "the woman."

[Myrina]

14. Wait, I thought bombing Iran would solve the economic crisis ...

:shrug: Did I miss something?

[Wetzelbill]

23. It just came in The Surge already solved it

[napi21]

17. Yea, I heard that late last night and damn near choaked!

Unfortunately, you don't realize how many uninformed people THINK they have to pay Cap Gains when they don't own any house, and no stocks or securities. I've had to explain it to more people than I can count! The other thing they don't understand is Inheritance Taxes! People who MIGHT inherit $100,000 think they'll have to pay Fed. taxes on it! I've almost reached the point where I think the Feds should sponsor free televised education courses in these basics...but then I also know nobody would watch!

[Lex]

19. If we make the rich people EVEN richer, see, then everything

will automatically straighten itself out.

[wryter2000]

20. Brought to you by the people who believe in Creationism. n/t

n/t

[TahitiNut]

21. Long-term capital gains ARE 0% for folks in the 15% tax bracket, now.

So, people with enormous long-term capital gains who LIVE on their investments and have no "ordinary income" (i.e. they don't WORK) get off scot-free this year AND next year ... living off the labor of others! Take someone like Michael Bloomberg ... is it any wonder he only takes a $1/year 'salary' as Mayor of New York???

The Zero Percent Capital Gains Tax Rate
Saturday July 12, 2008

Starting this year, there's a new zero percent tax rate for long-term capital gains. To qualify for this zero percent rate, the gains have to be long-term. Also, the individual has to be in the 10% of 15% tax brackets for regular income. Here's a list of the 2008 tax brackets.

This zero percent rate comes with some opportunities to plan ahead. First, you can plan to hold on to profitable investments long enough to qualify as a long-term gain. At minimum, this means holding on to the investment for at least a year and a day. Investments held for a shorter period of time will be taxed as short-term gains at the regular tax rates. Second, tax rates are determined in part by your taxable income, which is your income after all deductions. Accelerating deductions will lower your taxable income, and thus help to keep you in a lower tax bracket.

http://taxes.about.com/b/2008/07/12/the-zero-percent-capital-gains-tax-rate.htm

It's insane. Capital gains taxation is the lowest in history!

[radfringe]

24. and if I take a 1/4" dowel, ram it through my ear

I can have 0% IQ and this crisis will no longer bother me...

seriously - is this crisis being hyped to hold us hostage for a freaking tax cut?????

[Wetzelbill]

25. it's the shock doctrine

Exploit a crisis to ram through a radical agenda you otherwise couldn't.

[radfringe]

26. excuse me while

I go sharpen the end of that 1/4" dowel...and find a hammer

:banghead: :banghead: :banghead: :banghead: :banghead: :banghead: :banghead: :banghead:

[Wetzelbill]

27. exactly