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Originally Posted by GenuineRisk
You're wrong- Obama's proposed increase on capital gains is from 15 percent to 20 percent, not to 40 percent. It took me exactly 90 seconds of Googling to find that out. I don't know where you get your news from. FOX, I'm presuming? I think where you are confused is his proposed raising of tax on dividends to 39.5 percent. Dividends are not the same thing as capital gains. I don't know of any middle-class people who live entirely on dividends. Plus, retirement accounts aren't taxed the same way regular dividends are. Raising the taxes on what is primarily an income source for the wealthy is not going to trash the middle class or retirees.
And these aren't new tax levels; they are pre-Dubya tax levels. Because Bush's tax cuts for the wealthy have worked out so well for the economy.
I can't even begin to deal with the "ban speculators" rant. Sure, everyone wants government out of their lives/business, and then they start yelling when people take advantage of gov't staying out of their lives/businesses.
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I heard that straight from Obama's mouth... and I live in Chicago.