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

To: Neeka who wrote (514616)	10/17/2012 8:37:59 PM
From: Sr K	Read Replies (1) \| Respond to of 794203

He said that in last night's Debate. He said "capital gains", not distinguishing LT or ST.

To: Neeka who wrote (514616)	10/17/2012 8:38:00 PM
From: John Koligman	Read Replies (2) \| Respond to of 794203

I got my info off Romney's website. I can't find any specifics on whether he will include all capital gains. If he intends to, then my point is that my neighbor the high level software engineer might end up paying a third of his income in Federal taxes while I pay nothing, joining Romney's 47 percent <ggg>.... I think anyone who draws a salary has every right to take a very dim view of that policy..... In your case it would expose another unfair situation as far as I can tell. How about a retiree that does not have a tax free nest egg, and has to work to supplement his/her SS.... I don't know the levels off the top of my head, but I believe one gets penalized in terms of how much one's SS is taxed if you earn income in addition to collecting SS . So that person might get slammed where another collecting cap gains gets off scot- free. The devil is in the details, and Romney doesn't provide much in that department on what he is going to do... Regards, John

To: Neeka who wrote (514616)	10/18/2012 2:16:16 AM
From: Elroy	Read Replies (1) \| Respond to of 794203

Eliminate taxes for taxpayers with AGI below $200,000* on interest, dividends, and capital gains<\i>* I love the idea, but for someone who only receives interest, dividends and capital gains, and no salary, doesn't $200,000 seem sort of a high level of income? I know living costs vary tremendously, but this plan says some rich folks ($4 million in investment assets earning a reasonable 5% per year is $200,000 per year in investment income) pay no taxes. Anyone able to generate $200,000 per year in investment income is pretty well off, or normal and had a freaking amazing year (a la Hillary in the futures markets awhile back). The $200,000 cut off seems a touch too high to be completely tax free. It's a hard case to make to the average Joe.