Quote from insider trading:
While you will pay more in capital gains taxes under Obama,you will pay less in overall taxes if you make less then 250,000
While Obama is being stubborn on the capital gains issue,his whole economic plan is based on Bill Clinton's economic and tax policies,which also had higher capital gains taxes ,but a great economy
Overall McCain's tax rate is much higher,he's just putting it on the USA credit card for our grand kids to pay like Bush did
Clinton's tax policies would not work at all right now. He was lucky to be Prez just as the tech boom started, and leave just as it ended. Talk about timing!
Anyway, cap gains at a higher levels worked then because the rest of the World was even higher than the US. This has completely changed. Most of the world has low to zero cap gains now. Raise our cap gains and you will immediately see billions in capital head overseas. Not only that, but most small biz owners employing over ten people make over 250k. Guess who creates most of the jobs in the US? Raising cap gains is economic suicide, but people who don't know better will ignore this threat as cap gains have been higher in good times past.
Additionally, Obama will raise cap gains for everyone, he just states that most people who will be affected make over 250k anyway. His plan has different top income tax rates for over 250k, but he does not have graduated cap gains (at least not yet). This is all moot though as I think he will be forced to modify anything he proposes somewhat even with a very liberal congress.
This is all assuming he wins, which I think is 50/50 at best as he should be WAY ahead of Mac, and is not for some reason.
Personally, I will vote for Mac due specifically to taxes and spending. I don't like the guy, but I feel very strongly that taxes need to stay where they are (we have record revenues well in excess of GDP growth BTW), and spending needs to be curtailed. Hopefully Mac chooses Romney, cause if he wins, and dies in office (possible), then we will have a business stud running the show. Yeah, the guy flip flops, but nothing compared to BO who flipped on nearly every one of his primary positions!