General Discussion

SaveAmerica

(5,342 posts) Tue Oct 16, 2012, 09:26 PM Oct 2012

How many capital gains do the middle income folks have?

12 replies

= new reply since forum marked as read

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How many capital gains do the middle income folks have? (Original Post) SaveAmerica Oct 2012 OP

None here!!! HuskiesHowls Oct 2012 #1

I don't have any. Neoma Oct 2012 #2

Let me check...no, none here. I want O to bust that myth! nm nc4bo Oct 2012 #3

Ha Ha, you made me laugh! Mine are with the weapons of mass destruction in Iraq! SaveAmerica Oct 2012 #10

Zilch Glimmer of Hope Oct 2012 #4

Usually about $1.87. In a good year. MadrasT Oct 2012 #5

Some do Incitatus Oct 2012 #6

Some saving bonds will be ChazII Oct 2012 #7

The big one is selling your house... TreasonousBastard Oct 2012 #8

No taxes on the first $500,000 if it's your primary residence. Yo_Mama_Been_Loggin Oct 2012 #11

True dat, for a married couple-- $250,000 if you're single... TreasonousBastard Oct 2012 #12

If planned properly, most capital gains for middle class folks are shielded from taxes. Selatius Oct 2012 #9

HuskiesHowls

(711 posts)

1. None here!!!

Reply to SaveAmerica (Original post)

Tue Oct 16, 2012, 09:27 PM

Oct 2012

Neoma

(10,039 posts)

2. I don't have any.

Reply to SaveAmerica (Original post)

Tue Oct 16, 2012, 09:27 PM

Oct 2012

nc4bo

(17,651 posts)

3. Let me check...no, none here. I want O to bust that myth! nm

Reply to SaveAmerica (Original post)

Tue Oct 16, 2012, 09:27 PM

Oct 2012

SaveAmerica

(5,342 posts)

10. Ha Ha, you made me laugh! Mine are with the weapons of mass destruction in Iraq!

Reply to nc4bo (Reply #3)

Tue Oct 16, 2012, 09:32 PM

Oct 2012

I hoped he would say something but there was just so much to wade through.

Glimmer of Hope

(5,823 posts)

4. Zilch

Reply to SaveAmerica (Original post)

Tue Oct 16, 2012, 09:28 PM

Oct 2012

MadrasT

(7,237 posts)

5. Usually about $1.87. In a good year.

Reply to SaveAmerica (Original post)

Tue Oct 16, 2012, 09:29 PM

Oct 2012

Incitatus

(5,317 posts)

6. Some do

Reply to SaveAmerica (Original post)

Tue Oct 16, 2012, 09:29 PM

Oct 2012

I still can't trust anything he says

ChazII

(6,206 posts)

7. Some saving bonds will be

Reply to SaveAmerica (Original post)

Tue Oct 16, 2012, 09:29 PM

Oct 2012

mature in 2013. Type EE $100 each and there are 12 of them.

TreasonousBastard

(43,049 posts)

8. The big one is selling your house...

Reply to SaveAmerica (Original post)

Tue Oct 16, 2012, 09:30 PM

Oct 2012

and if you have a halfass decent job, you could have a pension or savings plan that might have capital gains.

Yo_Mama_Been_Loggin

(108,234 posts)

11. No taxes on the first $500,000 if it's your primary residence.

Reply to TreasonousBastard (Reply #8)

Tue Oct 16, 2012, 09:33 PM

Oct 2012

TreasonousBastard

(43,049 posts)

12. True dat, for a married couple-- $250,000 if you're single...

Reply to Yo_Mama_Been_Loggin (Reply #11)

Wed Oct 17, 2012, 03:10 AM

Oct 2012

and around here the cheapest homes are around $350,000 but back in the 80's it would be tough to find much over 100K. Bought mine for $32,000.

Selatius

(20,441 posts)

9. If planned properly, most capital gains for middle class folks are shielded from taxes.

Reply to SaveAmerica (Original post)

Tue Oct 16, 2012, 09:31 PM

Oct 2012

If you don't liquidate your IRA or your 401k, it can't be touched as far as taxes go.

Most middle class folks derive income from labor, as opposed to capital.

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