Sure he will. He proposes to increase the Capital Gains Tax

Do you own a 401K? Isn't much of that money invested in the Stock Market? I thought so.

When you get your 401k statement on Nov. 3 statement reflecting the current massive market down turn you may note that as your stocks are now down you have taken a hard knock financially'

Not to worry. You wont have to pay the increased Obama Capital Gains Tax. Think of all the money you will save. (:

401ks 11/3

Or just throw around thousand dollar checks?

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But here's a little FYI:

72.6% of all capital gains taxes are paid by the richest 1% of Americans. The bottom 90% pay 5.7% of all capital gains taxes.

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So calling it a tax on the middle class is pretty inaccurate.

And can THAT affect the middle class?

Strive for some semblance of honesty now...

increasing their federal income tax bracket and the Capital Gains Tax.

The cash tossed around was in the form of $4000/yr grants for all our college students....that lasted until he bought enough of their votes to win the primary.

a 401k or even a house...you do know that if you do own a house and sell it at a certain profit you must pay the Obama increased Capital Gains Tax.

There's always a brief revenue spike following a capital gains rate cut, as the benchmark for when it makes sense to sell just got shifted. But in the long term, it reduces revenue. If a plan goes through to raise capital gains taxes, you'll likely see a spike in revenues before the tax goes into effect, followed by a lull, and then a normal, higher rate of revenue.

How it effects the middle class is barely at all. Because the middle class really doesn't pay much in capital gains to begin with. If you doubled the rate, people in the 4th quintile would be paying $53 extra per year on average. or .086% of their income. Yes, less than a tenth of a percent tax increase.

I didn't think you could. Better luck next time.

Why would that be the tendency,... has it ever happened that way before?

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And it has nothing to do with the conditions we are facing now...

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But he's not talking about revenues, the effects on the middle class, or anything else we've been discussing. He explains one of the many ways in which inflation harms our economy, but I'm not sure how it's relevant to our discussion.

You sure can't touch a World Class Swindler like Obama is the name conning US is his game/

Your facts have the bottom 90% paying less that 6% of current capital gains.

The average wage is what, 32, lets have the bottom earning that number on average. Each earner puts 1k year into his 401k each year until age 59....on average 20 years away. The bottom 90% get to defray their capital gains tax until 2028.

The rich 1 % aren't involved with 401Ks, just ask Obama and the Clintons.

Your top post was about how raising capital gains taxes would be a tax increase on the middle class, but as I've illustrated in my exchange with Eric, the tax increase on the 4th quintile would amount to less than a tenth of a percent of their income, assuming capital gains were doubled.

So your top post has been proven incorrect. Move the goalposts if you like, but don't expect me to follow every lame dodge.