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McCain says he's for a temporary cut in Capital Gains tax for investments??

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rateyes Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 06:51 AM
Original message
McCain says he's for a temporary cut in Capital Gains tax for investments??
Well, since investors aren't making any GAINS in this sorry stock-market, what's the damned point? If there's loss, there's no tax to pay. The rate could be 100% on gains, and it wouldn't freaking matter. When does the temporary cut in Capital Gains tax expire--as soon as people start making money again?

Smoke and mirrors.
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Vinca Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 06:56 AM
Response to Original message
1. It's McGobbledygookspeak. The spiel du jour.
As long as 2 words are included - TAX CUT - he approves the message.
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NC_Nurse Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 06:58 AM
Response to Original message
2. It will encourage people to dump their stocks. Big help. I fI thought I could
get out now with no tax loss, it would make up for the lower face value and I might just bail.

I don't see how this helps the market in general. He might get more rich-folk votes....
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fasttense Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 07:06 AM
Response to Original message
3. Just one of 3 "free" marketer's answers to all things economic.
"Free" market idiots only have 3 solutions to any economic problem.

1. Tax cuts for the rich.

2. Deregulate.

3. Privatize functions and profits but socialize corporate debt.

This falls under the first rule of crony capitalism, I mean "free" market capitalism, never mind they're both the same thing anyway.

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OmmmSweetOmmm Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 07:06 AM
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4. lol! People are having massive losses and not gains. That is an empty gesture.
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Boz Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 07:14 AM
Response to Original message
5. Its only to help McCain because since he turned 72 in August he has to begin divesting his
401K, and turning the stocks into cash for retirement use. Its a mandated time so all he is trying to do is get them to make that a rule long enough for him to dump his with out tax.

Every economic point out of his mouth this week will be about FIXES that directly benefit his or his wifes immediate situation.

Obama and Joe say its patriotic to tax them, since they both make more than 250 000 they are flat out pushing a fix that will cost them both personally, McCain and Palin are pushing things that will benefit McCain/Palin directly.

Who puts "Country First", the guys willing to take the hit personally, and who ONLY SAYS they put "Country first" the ones that only use it as their campaign slogan.

Obama/Biden walk the walk.
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Stuart G Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-13-08 07:20 AM
Response to Original message
6. The rich need more money like the desert needs more sand..nt
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