"Jim" wrote in message
...
nom=de=plume wrote:

wrote in message
...
On Wed, 07 Jul 2010 21:55:05 -0400, bpuharic wrote:

On Wed, 7 Jul 2010 21:48:35 -0400, "Charles C."
wrote:



"bpuharic" wrote in message
...

martin feldstein, chairman of reagan's council of economic advisors,
says we need to raise taxes:

http://money.cnn.com/2010/07/07/news...n_bin&hpt=Sbin


another take:

http://finance.yahoo.com/taxes/article/110005/how-the-expiring-bush-tax-cuts-affect-you?mod=taxes-advice_strategy

minimal effect on most taxpayers

Only an across the board 4-5% tax hike. It is more if you are married
and a lot more if you actually have investments. The predictions are
that it will cause a pretty big sell off of stocks in 4q10.
That will be tough on your 401k. If this little rally holds and we get
10500, I would migrate your 401k into the "safe" fund (government
paper) until this all shakes out. I really believe the big money
people are going to run these stocks up to get profits out at the
lower rates. Don't be holding the bag when they start cashing in.


Completely untrue.


The tax part is right on. The Wall Street crap is random speculation.

http://www.taxpolicycenter.org/numbe....cfm?DocID=535

But numbers can play tricks.
If your tax rate goes from 10% to 15% is that a 5% hike?
Or a 50% hike?

Jim - Reformed flim-flam man. I'm a preacher now. God Bless America
and rec.boats.

It's kind of like the flat tax idea... it sounds ok until you realize that
someone making $10M is not going to suffer as much as someone making $30K
when both have the same tax rate.