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.

Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: WallStBum who wrote (372)	6/24/1998 9:20:00 PM
From: mod	Respond to of 1383

Yes, the 18 to 12 month change will be retroactive to 12/31/97, and the conference committee has approved it, so it should be a done deal. Today, Gingrich introduced a bill to cut capital gains rates further: <<House Speaker Newt Gingrich, R-Ga., June 24 officially introduced H.R. 4125, the Economic Growth Act of 1998, that would simplify and cut the capital gains tax, a measure Senate Majority Leader Trent Lott, R-Miss., said he plans to introduce in the Senate the week of July 6. Gingrich's proposal would reduce the top capital gains rate to 15 percent from 20 percent and reduce the rate for taxpayers in the 15 percent bracket to 7.5 percent from 10 percent. It would also eliminate the exceptions for real estate depreciation recapture, collectibles, and gains from certain small business stocks. The bill would be effective June 24, 1998>> Dennis