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Posted: 8:32 a.m. Friday, March 27, 2009
By Neal Boortz
... only if you are "middle class." Not a real shocker here, but basically the Democrats are planning on extending and/or lowering tax rates for middle class Americans. Meanwhile, they will "allow the Bush tax cuts to expire" .. which is just government-speak for "increase taxes."
Senator Max Baucus says that middle class taxpayers will permanently benefit from a 15% tax rate on capital gains taxes. However, higher income tax brackets would pay a capital gains tax of 20% by 2010.
You do realize, of course, that middle class taxpayers aren't generally investors. This means nothing to most of them. The investments come from people with money to invest (duhhhhhhh), and for them ... the capital gains tax rate goes up.
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