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Occupy Wall Street/Capital Gains Question?
Why is there a confusion with the Cap Gains tax rate for the OWS movement?
Ive never seen anybody explain this the correct way, if an activist reads this, Id like to hear their opinion.
Ex:
In 1990 I invest $1,000 into stock ABC. Today I cash out and have $1,200. Did I make $200? Not really, depending on inflation, I may have 1. broke even 2. lost money 3. made some profit (not $200, but closer to $100).
So, that is why for all but 2 years in the last 100 (Google it if you need proof), Cap Gains have been about half the normal top tax bracket.
Having said that, there has been talk of adding an inflation table to the tax code, but its too time consuming and it wouldnt add any revenue.
How do OWS activists respond to this?
EDIT - I cant get any of my online OWS friends to respond to this... I hoped maybe one of the YA OWS guys would. Odd haha
EDIT - Rami, if youre an OWS acitivist, you speak with reason, very refreshing. Hedge fund managers need that too. They make a percentage of the gains, their 5% gain isnt a real 5% gain. 5% gain minus 3% for inflation (if they invested for only the 12 months) and they made 2%. Adding a tax table gets more complicated for the novice investor as the years go on, the calculations get more and more difficult. Ive never heard one expert suggest adding a tax table, I dont think anybody on either side likes it.
To some up, I really wish people would explain this in the media, unfortunately, I believe its too complicated for the average American to understand.
5 Answers
- Rami BLv 49 years ago
honest question and I agree to an extent---however I believe that hedge fund managers should have their tax rates set at normal instead of only 15%, that is a horrible loophole that needs closing. And I only want the top capital gains tax rate to be 20% where it was during Clinton and the top income bracket to be 39.5%--Again where it was under Clinton---the amount it was under Clinton--I like the idea of inflation table to tax code. THe percentage of tax revenue from corporations has significantly declined from 25% in the 1950's to less than 10% today.
- Anonymous9 years ago
OWS demands (such as no private ownership of land and "reduction of the wealth gap .... enforced by regulation and taxation" ) are repugnant to ordinary Americans.
- electricpoleLv 79 years ago
Skip the math, they want some of what you have and don't want to work for it. Everything else is a conveniently contrived argument.
- Anonymous9 years ago
they don't care.
they don't even want to create revenue, they just want you to have less money.
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- Anonymous9 years ago
They don't do math. They are busy with their Chinese made iPhones.
