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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (111723)	5/17/2010 9:52:30 PM
From: Wheaties	Respond to of 116555

well sell everything now! while its still 18%. that should sure up the markets. BLOODY IDIOTS

To: mishedlo who wrote (111723)	5/17/2010 10:55:01 PM
From: Hawkmoon	Respond to of 116555

UK Proposes 50% Tax on Capital Gains, Up From 18% Insanity... sheer insanity. At most, I could see graduating it by overall income, but not to the point where it's hitting the middle class. But then again, we tax short term capital gains at the income tax rate. Hawk

To: mishedlo who wrote (111723)	5/18/2010 6:50:31 AM
From: Dan3	Read Replies (1) \| Respond to of 116555

Re: Legalized Theft - UK Proposes 50% Tax on Capital Gains, Up From 18% Capital Gains should be adjusted for inflation, then taxed as ordinary income. What's the tax on ordinary income in GB? So if I earn (or supplement) my income by flipping houses or stocks, I should be taxed at the same rate as someone who earns his income by building houses, or waiting tables. If I bought a house 20 years ago for $100k and inflation makes that $100k worth $250k now, and I sell the house for $275k (net), I should be taxed on $25k. Not $175k and not $25k. Not $0k, either, the way it is now.