Jun 29th 2011, 1:30:49
Capital gains taxes already are at a preferred (Lower) rate then ordinary income, and ofcourse it also counts as unearned income so even better no Social Security/Medicare taxes.
Now they're talking of going to Zero Capital Gains taxes , How many people will become added to the Unemployment line when liquidating is tax free but keeping the doors open and making money is taxed? Seems it lowers the time period required for a return on investment to be worth while making the invesrment.
Oh but I'm sure we will hear the claim it will help free up money to make new investments, I guess on the same logic that we needed to refill the banks with free cash that our grandkids will pay for. Oh thats right the banks are just sitting on the money and not making the loans, but somehow the same people sitting on them board of directors will act completely different with this free cash