Obama's Looming Tax Increase Already Showing Signs of Yielding Economic Activity

KingCondanomation

KingCondanomation

New member
Too bad it's the wrong kind.

"Dolphins owner H. Wayne Huizenga said Sunday no date has been set for selling up to 45 percent more of the team to Stephen Ross, but the presidential election is among the issues weighing on his decision.

That's because a Barack Obama administration is expected to mean higher capital-gains taxes.

"He wants to double the capital gains tax, or almost double it," Huizenga said.""
http://www.sun-sentinel.com/sports/football/pro/dolphins/sfl-flspdolwayne27sboct27,0,1382404.story

Sell and get out and don't invest. I just don't get how anyone could possibly think higher taxes are going to spur on a recovery?
 
8 years of GOP control in the executive branch have yielded much worse economic results that the status of the sale on the Miami Dolphins...
 
Dungheap said:
Isn't the sale of ownership interests in the Miami Dolphins evidence of an increase in economic activity?
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No, it's evidence that people want to turn their investments into something more liquidable to avoid capital gains taxes.
Capital gains taxes are probably the single worst tax to have, it's a direct tax on investment, so you miss out on all the taxes that could result from the fruits of that investment (ie: corporate and income). Most economists are against them and Obama wants to increase them.
 
KingCondanomation said:
No, it's evidence that people want to turn their investments into something more liquidable to avoid capital gains taxes.
Capital gains taxes are probably the single worst tax to have, it's a direct tax on investment, so you miss out on all the taxes that could result from the fruits of that investment (ie: corporate and income). Most economists are against them and Obama wants to increase them.
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Income taxes are probably the worst tax to have. It's a direct tax on working, so you miss out on all the taxes that could result from the fruits of that labor (ie: corporate and capital gains). Most economists are against them and McCain wants to increase them.
 
cap gains is only going up to 20% from 15% on cap gains beyond 250Grand. Its not that big of a hit.
 
Cap gains need to go way up on the cap gains of stock and such held for less than 30 days. Encourage market stability and true investment. vs casino wall street.
 
uscitizen said:
Cap gains need to go way up on the cap gains of stock and such held for less than 30 days. Encourage market stability and true investment. vs casino wall street.
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I like it, and I agree. Discourage the pump and dump that's been creating the roller coaster lately.
 
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