Pardon My Politics
Politics From The Left, The Right & Somewhere in BetweenReal Estate Investors Suffer Under Barack Obama’s Capital Gains Tax Hikes
This applies to you, my real estate investing friend! And even if you’re not normally interested in politics, it’s urgent (to protect your own financial interests) that you take 60 seconds and read this article, because it will affect you profoundly.
“Capital gains taxes” are the taxes that you pay whenever you sell your real estate investment properties. Right now the capital gains tax rate is 15%. Obama has stated (and reaffirmed in a debate with Hillary Clinton a few days ago) that he wants to raise the rate to 28%.
Just so you understand how this will affect you: Under the current law, if you you have a property profit of $35,000, you’ll pay $5,250 in tax. Under Obama’s plan, you’ll pay $9,800 - fully $4,550 more than at present. And here’s the reason that Obama gives for raising taxes on you:
“Fairness”
Yes, that’s right. It’s not “fair” that you have the potential to make more money than anybody else. And he wants to PUNISH you. Don’t believe me?
In his debate with Hillary Clinton a few days ago, Obama was presented with well-known evidence of two huge points:
- Historically, every time the capital gains tax has been raised, the actual revenue received by the government has declined because higher capital gains taxes are a DIS-incentive for economic activity and investment
- Historically, every time the capital gains tax has been cut, the actual revenue received by the government has actually INCREASED because lower capital gains taxes are a strong MOTIVATOR for investment
Obama, showing himself to be fully unfamiliar with tax policy, stated that his reason for wanting to tax you at nearly double the current rate is that it’s “fair”. This is when it got interesting, because the moderator then pointed out that over 100 million people in the USA own stocks (not to mention everyone who owns real estate), and each one of them would be directly (and negatively) affected by the tax increase.
So what’s going on, Obama? Clearly you’re not concerned about what is “fair”, since your tax proposal will further burden nearly every family in this country. And you know that raising the capital gains tax doesn’t even increase government revenues, so the tax rate increase certainly won’t contribute to the government in any way.
This is not an endorsement of any political candidate, but an encouragement to think very critically about the candidates rather than basing your vote on rhetoric and personality alone.
Interested in HEATED DEBATE about Obama? Check out Bryan Ellis’ blog now
About the author: Bryan Ellis is a real estate investing strategist in Atlanta, Georgia. He’s sought after world wide for his unique and ground-breaking strategies of mixing real estate investing with internet marketing for high profits with low effort.Source: EzineArticles.com
