I don't want to interrupt your conversation but have to get one thing straight quickly: His name is spelled B-U-F-F-E-T-T. http://en.wikipedia.org/wiki/Warren_Buffett
When Obama starts talking up Buffett's statements that it's OK to raise capital gains taxes during the debates, Buffet's charm is going to go right into the toilet.
"Obama breezily described how he was told by Warren Buffett and others that raising the capital-gains-tax rate from 15 percent to, oh, 25 or even 28 percent â a near-doubling â would have little distorting effect." http://www.kansascity.com/275/story/562903.html
Ridiculous. The lower the rate on capital gains, the more incentive there is to invest money for the long term. Long term investment is the seed corn of any economy, the end result of which is more jobs. You want to see it evaporate, just start raising the capital gain tax. I'm not for increasing taxes on wages either. Let's get rid of some of this government bloat instead. OldTrader
Bull. I'm not going to get into an argument where I'm advocating higher taxes because I'm against a tax hike but given the choice I'd raise cap gains and lower income taxes. Have you ever seen any correlation between capital gains taxes and IPO's or employment growth? If I presented you with an "investment" that could yield a 3x return in a few years would the difference between a 15% or 24% tax be the arbiter of your involvement? Hardly. Besides the corporate rate would be more important anyway.
In Norway you pay 1.1 % of you net worth every year, 25 % sales tax on everything, food is 14%(+ luxery/sports cars with big engines costs about twice as much as they do in USA because of taxes, gas tax(about 65 % of the retail price is tax), electricity tax, alcohol tax etc.), your inheritors pay 20 % tax on what they receive.
if you don't sell, you don't have to pay any capital tax gains. and for investors who hold on the securities for less than 2 years or under a year,,,they are not investors.. they are traders.
and btw, majority of people lose money or 80% so they don't have any capital tax gains. only ones who have capital tax gains are hedge funds who make millions.
Majority, mob rule, cronyism. Life-limiting, restrictions, obstacles. With such great efficiency never before seen, confiscating your property-money, restrictions to starting and running a business to compete with established businesses embedded with the government. You can't run. You can't hide. They know where you and your money are at all times. You have been assigned a number, you will not be able to survive without it.
If by this you mean that you think Barack Obama stands a snowball's chance in hell of becoming President, I have some prime swampland to sell you.