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I have a great stock deal from Obama want to hear it?
You work and pay 20% income tax, with some of your money you buy stocks.
Some stocks lose money and some make money.
Lets say you invest $1000
1/2 your stocks lose value, now worth $450
1/2 your stocks are winners and you make a little $550
Obama says I need to tax the winners at 30% because of the Buffet rule,
So now your winners are worth $535.
Now you are worth $985.
So on money that has already been taxed, the government is going to take 30% of any gains while not compensating you for the losers.
Anyone want to invest?
Didn't think so, neither will anyone else.
Yes I do and I won't invest anymore if it goes higher, retirees will suffer and hopefully he won't get 1 vote from retired people, 401Ks will be taxed, any investment account.
This is an economy killer, and pure class warefare.
3 Answers
- Chris SLv 59 years agoFavorite Answer
Nope... and get a new accountant!
You have no capital gains in that scenario.
- Anonymous9 years ago
You must not understand of how you use your losers to offset your winners that results in a net gain/loss for the tax year.
It's only been going on for a 100 years.
Source(s): Finance/Accounting/Investments 101
