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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (52238)	10/20/2008 7:22:05 AM
From: TideGlider	1 Recommendation Respond to of 224884

What I see, no matter who is elected is an incredible increase in taxes with loop holes galore. In effect an expansion of the tax code rather than a simplification. McCain did touch on one area of fairness to a small degree and that is the increase in Capital Losses to 15K for two years, rather than the 3K per year now. That still is small but a move in the right direction. There are still people suffering from ENRON, Worldcom....now AIG, LEH, F, GM. etc that can use that. Why is it the government will tax the full amount of capital gains in the equity market in one year, but only allows parcels of deductions so small many people will die with a huge Captital Loss they could never deduct fully. That is something the "Bail out" package isn't addressing. In fact the bail out doesn't address people on the street much at all. I think there are many issues of unfair tax doctrine that could ease the "middle class" bite of these types of crisis. The focus on "Main street" only makes it as far as the stores that sell there ;^) They should, but will never, employ the same protections or reliefs to regular people that is applied to the financial institutions etc.