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

wrote in message
...
On Thu, 8 Jul 2010 14:28:12 -0700, "nom=de=plume"
wrote:

Which part?
10%, 15%, 25%, 28%, 33% and 35% will be replaced by five new brackets
with the higher rates of 15%, 28%, 31%, 36% and 39.6%.
sure sounds like a 4-5% increase to me when you add the 30% reduction
to the married couple's standard deduction and the increases in
capital gains and dividends,

If you don't think today is a temporary rally or that stocks won't
see
a big sell off right before the taxes go up on the gains, we will
just
see won't we?
I know where I am betting my money.
I bet stocks will be a bargain in 1q11 and I bet the big money people
rig themselves a rally in 4q10 but it will be a short one.
Obama won't mind, because even at the lower CG rate, the government
will still get a tax windfall in 2010 and in 2011 they have the tax
hike.
I do think the government needs the money but I am not sure it helps
the recession that just does not seem to be going away.

There is no evidence that the huge tax cut for the wealthy did anything
for
the economy. It should never have been put in place in the first place.

If you're concerned about the deficit, then we should cut the military
(Ron
Paul and Barney Frank have cosponsored legislation to that effect). I
don't
hear anyone talking about ending oil company subsidies (to the tune of
$45B
annually). That would actually not be a good idea right now, but we
should
do it at some point. Talk about gov't being too involved in the
economy.



No argument on any on that but that is not what I said and what you
said was "completely untrue". Bear in mind the whole tax table will go
up, including dropping the 10% bracket entirely. That bracket loss
only means $404 for Bill Gates, just like the extra $404 for Lupe the
maid. She will miss the $404 a lot more. That continues up the scales,
whacking everyone along the way, until you finally get to the 1% who
will pay some of their income in the 39% bracket.

There is no "across the board" tax increase. Not sure how you're adding
things up, but comparing what Gates pays vs. what a maid would pay isn't
a
valid comparison.


Did you actually look at the article or understand what the rollback
entails. Taking away the 10% bracket and ratcheting up the other
brackets is certainly "across the board". The people at the bottom
will feel the pain more than the people at the top.


Firstly, the tax shouldn't have been implemented to begin with. Secondly,
you compared Gates to a maid, which is not a valid comparison.

The lower half always "feels the pain" more than the top half.



You are a slippery one. Have you ever run for office?
Maid or Gates, raising all the rates, including the lowest tax rate (from 10
percent to 15 percent) is, indeed, an "across the board" tax increase.

CC