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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (422861)	4/20/2011 8:24:52 PM
From: Sr K	Read Replies (1) \| Respond to of 794298

A lot of people on Silicon Investor believe in holding precious metals including gold as an inflation hedge or a currency hedge. Gold hit an all-time high today, and if someone bought for 500 and has a 1000 gain and sells, they would owe $280 tax. I've expected it to be on the table this year. The 28% rate which at one time was the LT capital gains rate is confiscatory for gold held as a hedge, and also for collectibles and art. When the LT cap gains rate dropped to 25%, it was not noticed. When it dropped to 20%, it was overlooked. Since 2003 it has been unfair. There's no reason for it be 28% for gold. If either party is serious about tax reform, the categories still in the 28% "bracket" should be revisited.