Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (465357)	3/20/2009 6:34:01 PM
From: brushwud	Read Replies (1) \| Respond to of 1578452

"But normally, when tax law is changed during the year, it is for transactions AFTER the date of enactment." Usually that is the case. However, I remember the Reagan tax cut. I was briefly on unemployment, which I wound up having to pay taxes on although when I was on it, it wasn't taxable. Nope, you remember wrong. The Tax Reform Act of 1986 (a.k.a. Pub. L. 99-514) was enacted on October 22, 1986: en.wikipedia.org It amended Internal Revenue Code section 85 to make all unemployment compensation taxable, effective for amounts received after December 31, 1986: books.google.com

To: combjelly who wrote (465357)	3/21/2009 10:31:50 PM
From: brushwud	Read Replies (1) \| Respond to of 1578452

"But normally, when tax law is changed during the year, it is for transactions AFTER the date of enactment." Usually that is the case. However... You're not holding up your side of the argument very effectively, so I feel sorry for you and I'll throw you a bone. Here's an article about a 9-0 USSC decision upholding a retroactive change in tax law: nytimes.com Hope the NYT will let you read it. The decision regards changes in 1987, but the article also refers to retroactive changes in 1993. Here's an excerpt: Justice Antonin Scalia said that the Court's reasoning "guarantees that all retroactive tax laws will henceforth be valid."