50% capital gain tax proposed in GB

[G2Rad]

link (http://www.telegraph.co.uk/news/newstopics/politics/conservative/7734803/Higher-taxes-for-a-million-as-George-Osbornes-emergency-Budget-hits-investors.html)

from the current 18 per cent flat rate to a top rate of 50 per cent

that's crazy. that's theft guys.

if the currency was stable there would have been no "capital gains"

by printing money they create "capital gains", which they then confiscate though tax

[Twisted Titan]

The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.

Vladimir Lenin


T

[k-os]

Capital gains tax and income tax are the worst kind, in my opinion. People are penalized for working and doing well. The idea is absurd, yet . . . here we are.

[Twisted Titan]

Capital gains tax and income tax are the worst kind, in my opinion. People are penalized for working and doing well. The idea is absurd, yet . . . here we are.



See how that works K???

[cigarlover]

The wars, bailouts and socialism has to be paid for. Up until now we just kept borrowing more money. Now we will pay. If we raise taxes to 110% of income on every taxpayer in the US then we can continue with business as usual. Somethings gonna have to give here soon.

[Ponce]

And that's why so many of them are leaving the country.........

First post of the day...........good morning to one and all.

[k-os]

And that's why so many of them are leaving the country.........

First post of the day...........good morning to one and all.


Good morning, Ponce. Where are they moving to?

[madfranks]

Can you deduct the impacts of inflation of your capital gains taxes? Let's say you have $1000 in gold and gold goes up to $1200 in a year, but the inflation rate was 5% that year. When you sell the gold for $1200, instead of claiming a gain of $200, can you claim a gain of $140 due to the 5% loss in purchasing power?

[Ponce]

Hi Mr. K..............Australia, US to the rest of Europe........which doesn't make sense because soon it will be the same all over the place, the name of the game is to take as much as possible away from the little guy, by now even the rich guys are becoming little guys.

[Twisted Titan]

How can you claim a "gain" when true inflation is running north of 20%???

It is all a wash when the smoke clears.

T

[k-os]

Hi Mr. K..............Australia, US to the rest of Europe........which doesn't make sense because soon it will be the same all over the place, the name of the game is to take as much as possible away from the little guy, by now even the rich guys are becoming little guys.


Hey, Ponce, I am not a mister. This is your second notice. ;D

[gunDriller]

Can you deduct the impacts of inflation of your capital gains taxes? Let's say you have $1000 in gold and gold goes up to $1200 in a year, but the inflation rate was 5% that year. When you sell the gold for $1200, instead of claiming a gain of $200, can you claim a gain of $140 due to the 5% loss in purchasing power?


this much math makes my brain hurt. 8)

[Glass]

Can you deduct the impacts of inflation of your capital gains taxes? Let's say you have $1000 in gold and gold goes up to $1200 in a year, but the inflation rate was 5% that year. When you sell the gold for $1200, instead of claiming a gain of $200, can you claim a gain of $140 due to the 5% loss in purchasing power?


CPI (inflation) is only caculated in when it is positive. When it is negative like it is now then it is ignored. So if you go backwards on capital growth..... too bad.

Of course you guys are all smart and worked it out. Capital gains is just another one of those things they can manipulate to steal your stuff.

[Ponce]

Oh oh MISS K, does this means that with the third notice a get a marriage invitation? hahahahhahhaha.

[Olmstein]

I'll bet those who voted Tory in this election didn't see this coming.

Just checked the Conservative Party website (http://www.conservatives.com/Policy/Where_we_stand/Economy.aspx), I didn't see any mention of raising the capital gains tax rate.

[G2Rad]

I'll bet those who voted Tory in this election didn't see this coming.

Just checked the Conservative Party website (http://www.conservatives.com/Policy/Where_we_stand/Economy.aspx), I didn't see any mention of raising the capital gains tax rate.


Exactly. How they can call themselves conservatives? ???

When we have election I wish all the incumbents let go.

I would rather trust a plumber or a truck driver with zero experience in politics than those "conservative" alternatives that are prepared for angry masses.