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On Wed, 21 Jul 2010 21:29:08 -0700, "nom=de=plume"
wrote:


wrote in message
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On Wed, 21 Jul 2010 22:46:49 -0400, bpuharic wrote:

On Wed, 21 Jul 2010 22:26:58 -0400, W1TEF wrote:

http://www.investors.com/NewsAndAnal...e-Horizon.aspx

the death tax affects 0.2% of all taxpayers. how is this a 'tsunami'?

and, given the fact that the wealthiest 1% have had a 500% increase
in income in the past 30 years, a 165% increase in taxes is something
they deserve. they screwed the economy. let them p ay for it.

but the right wing sheds its tears for the rich, ignoring completely
the plight of the middle class

You seemed to ignore this part,
The lowest bracket for the personal income tax, for instance, moves up
50% - to 15% from 10%. The next lowest bracket - 25% - will rise to
28%, and the old 28% bracket will be 31%
That smacks the working class and the middle class.

They are also bringing back the marriage penalty and cutting the
standard deduction for couples.

Ironic I suppose, right when the gays get to marry.

Only if you make the leap in logic that the Bush tax cut would be repealed
IN ITS ENTIRETY, which is certainly not going to happen. No one except
those
on the extreme right are talking about it.



That would require legislation that we have not seen yet. The end of
the tax cuts is on autopilot for 12/31/10.

Just about everything requires legislation. Perhaps you can get the
Republicans in Congress to actually do something vs. nothing.

My guess is they will kick the can down the road a year so the next
congress can get a swing at it but who knows what will come out of the
lame duck session.
I do think there will be a big sell off in the stock market if they do
let them expire or simply raise the cap gains tax.
It will be a good buying opportunity because I would expect to see
people buying back in January once they cash out their profits at the
lower rate.