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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (19757)	4/30/2008 10:08:11 PM
From: stockman_scott	Read Replies (2) \| Respond to of 149317

Michelle Obama and Caroline Kennedy interviewed on CNN right now <eom>.

To: RetiredNow who wrote (19757)	4/30/2008 11:22:23 PM
From: Sr K	Read Replies (2) \| Respond to of 149317

In reply #19745 "What happens when Obama raises the cap gain tax to 28%? I will make less out of my retirement funds, unfortunately. I've never been a big believer in high cap gains taxes. I prefer to stick it to the rich people through ordinary income taxes. Cap gains hits every retired person in their pocket book. Should we be punished for working our asses off all of our lives to save enough money to retire and to not have to rely on social security? Anyway, I think your real point was that Obama doesn't pander. I agree. That's what makes him good. People like me take Obama and all his stances and find him on the balance the best candidate, which is why I'll vote for him." --- I was questioning your comment "Cap gains hits every retired person in their pocket book," just as Obama did with Chris Wallace on FoxNews Sunday. I thought you said you look at the big picture, national debt as well as the deficit and your personal preference for the 15% cap gains rate. Considering all factors, if the next President (first name, Barack) met your criteria on the big issues, including Iraq and how we deal with other nations (and the effect of that on our economy) you could look over a 28% cap gains rate as one of the costs of economic balance and sense. If I read too much into your recent comments, OK. You seem like a diversified, long-term investor. If so, how would a long-term capital gains higher tax rate for gains or total income over $250,000 (or even $200,000) per year likely affect you? My point was that most people exaggerate how much the 15% top cg rate helps them, over market cycles. 401(k) withdrawals are taxed as ordinary income. And if you are diversified, just like for an index fund, you can usually recognize losses to offset gains if you manage for tax efficiency, except for occasional peak years. Personally, I want to index bases for inflation for asset holding periods of 36 months or longer. Then, I'm agreeable to a top cap gains rate of 20% to as high as 28%. But I do not like the jumps from 15 to 20 or to 28 because it is too much at one time. I would phase any increase in over years, with a 2% or 2.5% increase per year. Investors need to know the horizon. So this is too complicated an issue for soundbites or for a political campaign. I might like a change that doesn't even kick in for a few years, maybe in year 3 or 4 so it doesn't affect most transactions or investments made on the belief rates would be what they are.