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tony

Hannity Comments On Obama

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You're right Intruder - taxes don't affect stocks prices....hmmm, if your theory holds true than the correct capital gains rate is not zero, but as close to 100% as possible. Same goes for dividends, lower taxes couldn't mean more ownership.....guess the correct rate of tax on that is closer to 100% than 0%....why do we have a deficit when we could just tax stocks and they'll go up anyway. I think you've solved our deficit problem....who knew - just tax the hell out of stocks and we'll all live happily ever after!

 

ScottyD

 

 

I dont think I, a mere Intruder, am worthy to respond to the wisdom of a Jedi Knight aka CFP who is also a "Master of Science in Financial Planning".

 

But I have a question: If the next Congess increases the capital gains tax from 15% to 20% as has been proposed by Senator Obama would you advise your clients to sell their stocks?

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Of course not, I've been informed by the economic guru Intruder that taxes have no affect on stock prices. In fact, they may have a positive affect. I'm going to cheerlead for a huge capital gains tax increase and then buy stocks on margin. If I'm lucky they'll throw in a massive dividend tax increase as well.

 

ScottyD, Jedi Knight

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Is the money in employer stock?

If not, I would rather pay the capital gains rate in my 403b than a regular income rate. Ask the father-in-law which rate he prefers to pay, regular income tax or capital gains.

 

Actually he is going to vote for McCain anyway. How do I know? because he's already shown his hand. He listens to crap and believes it. Many of our citizens are easily seduced by fear: "they'll take away our guns", we'll be taxed to death, Obama is a Muslim, there are weapons of mass destruction.

 

What was it that made us a great country? Were we not a great country when FDR was in office? or Kennedy? or was it when government became the enemy? Speaking of foreign oil dependance, which president took the solar panels off the White House?

 

Your father in law is a jerk.

 

You're calling someone you know nothing about a jerk? I was under the impression that this was a 403(b) discussion board, not a DailyKos blog. Let's keep politics out of this.

 

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This thread is becoming the bridge to nowhere. Thanks for your responses. Sorry I introduced politics but my intention was to see if the claim was true and was not intended as apolitical endorsement of any kind. These days its getting harder and harder to discern information from disimformation. WE see it all the time in the financial industry as well as the media.

 

 

 

Tony

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Jarhead, you are right! I flagellate myself with self-mortification. This is not the place for me to spout off, regardless of the obvious.

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What capital gains? Tax increase of any kind is bad news. Increasing taxes at this time would be the worst thing to do. I want lower taxes and less pork, give me filet mignon!

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What capital gains? Tax increase of any kind is bad news. Increasing taxes at this time would be the worst thing to do. I want lower taxes and less pork, give me filet mignon!

 

 

The bailout legislation provides relief from the AMT tax for 2008.

 

Tax rates will increase for everyone above the 15% bracket in 2009. There will be no new spending initiatives such as for health care for the uninsured. There will be reductons in the amount of mortgage interest that can be deducted.

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