Quote from Pa(b)st Prime:
Around 1 out of 20 futures traders that I know are voting for Obama. An increase in Cap Gains-which is a DONE DEAL if Obama's elected-means futures traders will move into a much higher rate from dollar one of earnings.
IOW's while the rest of the country might not get a tax hike until 250k futures traders will ASSUREDLY see their taxes raised under the Obama plan.
I feel like im the official ET fact checker. A guy could make a full time job out reading only this section correcting all the misinformation. Anyways pabst this is just more of the same (haha I had to)..."Obama is proposing a 28 percent capital gains tax rate. He said in an interview on CNBC that he favors raising the top rate on capital gains from its present 15 percent to 20 percent or more, but no higher than 28 percent. And as for a 28 percent rate, he added, "my guess would be it would be significantly lower than that." Furthermore, he has said only couples making $250,000 or more (or, his policy advisers tell us, singles making more than $200,000) would pay the higher capital gains rate. That means the large majority of persons who pay capital gains taxes would see no increase at all"
http://www.factcheck.org/askfactcheck/would_obama_tax_my_profits_if_i.html
It's true that a futures trader doing well WOULD see a tax increase under Obama, but since 9 out of 10 arent even profitable, why would they care?
Don't even get me started on why we need to raise taxes...
