From Deseret News archives:

Demo tax plan question

Published: Wednesday, June 18, 2008 12:03 a.m. MDT
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In 1964, I bought a new Buick Electra for less than $2,000 cash, and I also invested in stocks. Today, a similar luxury car would cost well over $30,000, and the stocks would also sell in that range. This is commonly known as inflation.

I do not consider it a gain if an investment is merely keeping up with inflation. The tax code conveniently ignores inflation and calls it "long-term capital gains" instead.

Now we learn that the tax increases planned by Democrats will only apply to those "rich" taxpayers who earn more than $250,000 per year. Not being in that group, will they not raise my capital-gains taxes? Or do Democrats assume only the "rich" invest in stocks and are taxed on long-term capital gains?

Werner A Ruemmele
Bountiful

Recent comments

This thread has taken a lot of different paths today, with a lot of...

Mike Richards | June 19, 2008 at 12:01 a.m.

Thank you for understanding Constitutional law and attempting to...

@ Mike Richards | June 18, 2008 at 10:30 p.m.

To 9:55,

You have been treated with curtesy on this forum. There...

Mike Richards | June 18, 2008 at 10:03 p.m.

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