Health Bill Would Add 3.8% Tax on Investment Income

Discussion in 'Wall St. News' started by stinkyfelix, Mar 19, 2010.

  1. TheMan


    whats the world coming to?

    i am not sure, but at this rate we will all be socialists here shortly

    get out while you still can

    run for the hills

    Help us Ron Paul !!!!!!!!!!!!!!!!!!!!!!!!!!!!
    #21     Mar 20, 2010
  2. muller


    "They will have to vote on the Senate-passed bill, stuffed with tax hikes, Medicare cuts, and infamous backroom deals, and they will vote on something worse: their 'fix' with more taxes, more Medicare cuts and new special deals," House Republican leader John Boehner said.

    This is exactly what was happening in Europe, especially in Germany, for the past years.
    Pay more, get less.

    B.O. spreads Detroit over the rest of the USA.
    #22     Mar 21, 2010
  3. muller


    Do not!
    Where do you want to go anyway? Canada? Mexico?????
    Stand your ground and FIGHT!!!
    #23     Mar 21, 2010
  4. TheMan


    i am and will

    but when/if the shit hits the fan----- i will be gone

    i will never pay the tax rates we are headed for----- ever
    #24     Mar 21, 2010
  5. Social Justice. :mad: :mad:
    #25     Mar 21, 2010
  6. This medicare tax on capital gain is only for the AMOUNT ABOVE 200k right? for example if you make 230k, only 30k will be subjected to this tax not the entire 230k? can someone confirm
    #26     Mar 21, 2010
  7. but Europe is still much higher
    #27     Mar 21, 2010
  8. Those are the introductory rates to get there foot in the door. Most of the voters will not pay at first.

    1913: Congress passed a new income tax law with rates beginning at 1 percent and rising to 7 percent for taxpayers with income in excess of $500,000. Less than 1 percent of the population paid income tax at the time.

    Social Security Act 1935: 2 percent tax, one half of which was subtracted directly from an employee's paycheck and one half collected from employers on the employee's behalf. The tax was levied on the first $3,000 of the employee's salary or wage..................
    #28     Mar 21, 2010
  9. What you say makes sense.

    Have a friend who has a wife that is a corporate attorney. She makes $200k. He trades full time and makes $225K as an example.

    The threshold for a couple is $250k, so only $175k is subject to this proposed tax. ($200k + $225K = $425K - $250k threshold.
    #29     Mar 21, 2010
  10. I think you are spot on.

    This is a dynamic change in tax policy. Up until this point, only EARNED income (hourly wages and salary) have been subject to the medicare family of taxes.

    UNEARNED income has always been exempt until this proposal. In the new world order, this is only the start. I think eventually they will slap UNEARNED income with social security taxes, etc....and then the rates charged will start creeping up....:eek:
    #30     Mar 21, 2010