Now we are getting somewhere.
Capital Gains Tax increase will hit the wealthy.
Every trade, they owe the government half of their profits. (CAPITAL GAINS)
I buy 100 shares of a stock for $10/share = $1,000
I sell 100 shares of a stock for $20/share = $2,000
Capital gains = $2,000 - $1,000 = $1000
Tax @ 50% = 50% x $1,000 = $500
Note: This ignored broker fees on both transactions
I AM ALL FOR THIS. PASS IT AND LETS SHUT UP ABOUT THE RICH NOT PAYING THEIT FAIR SHARE.
You guys sure THE RICH will allow Congress to pass this bill?