Quote:
Originally Posted by Bootlegged
Jesus - how f'n stupid are you?
Have you ever bought a stock? I guess not..
Let me give you an example you may understand - but probably won't.
You buy 100 shares of "WMT" Wal-Mart at $45/share. You sell the stock 3 years later when its at $80/share. You've made $3500 because you A.) did your homework on a good company and invested in it B.) took a risk with your hard earned money C.) Considered the market timing and thought it was a good investment.
So you made $3500. Then tax time comes. Instead of paying your current 15% share of capital gains tax ($525), you will pay the new Obama tax of 29% ($1015).
Why? Because you took your hard earned money - risked it - and are a capitalist. Obama would like you to pay twice that amount.
So when Wayne says he needs to sell - extrapolate that out to his 100's of millions for the Dolphins. Why would he want to give that to Obama to spend on his "programs"?
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This is a completely new market. I have 6 figures in the market and I only get taxed if I sell. I bought Intel stock when it was 3.50 a share for 100 shares. I have 2,800+ shares of Intel now after so many splits. GE has also made me a butt load of money. I have around 3,100 shares after it split bought it around $4.80 for 100 shares. I'm sure you can do the math.
Here's how I look at it. If rent goes up you gotta make more money. Everyones rent will go up so everyone will create more volume to make more money to pay higher taxes. The only thing is the new recession is making capitalists save instead of spend now which brings everything down. Higher tax will save us now that we're in save mode.