Wiseacre
Retired USAF Chief
Maybe I missed it, what is the tax tax rate going to be on capital gains under Obama's non-plan? Will it apply only to those making a million bucks and over, or those making over $250K, or everybody? How much extra revenue does he expect to get from this new tax?
Of all the possible tax increases you can enact, increasing taxes on investment is the worst, in terms of hurting economic growth. In addition to all the myriad of tax increases that will take place in Jan 1, 2013, the hit on small businesses who are the backbone of the job creating engine from these tax hikes would be very bad. It is precisely the wrong message to send to investors and entrepeneurs, who will instead take their ideas and new businesses elsewhere.
Of course, the truth is that Obama already knows this BS has no chance at all of getting through Congress, he's just manufacturing something he can use as politcal clout against the GOP nominee next year.
Of all the possible tax increases you can enact, increasing taxes on investment is the worst, in terms of hurting economic growth. In addition to all the myriad of tax increases that will take place in Jan 1, 2013, the hit on small businesses who are the backbone of the job creating engine from these tax hikes would be very bad. It is precisely the wrong message to send to investors and entrepeneurs, who will instead take their ideas and new businesses elsewhere.
Of course, the truth is that Obama already knows this BS has no chance at all of getting through Congress, he's just manufacturing something he can use as politcal clout against the GOP nominee next year.