Dinar Rumor 52% What????

[rrupple]

Nicely said man... I AGREE.....

Wow so you folks now think the HC bill is to take your money? WOW! So let me get this straight, our military ( the US gubbamint) went over to Iraq and spent billions (trillions?) fighting the war and you people are mad becuase that same gubbamint wants to take some of our profits?

Unbelievable, I mean how much of a millionare do you have to be? Do you know how much a single Apache attack helicopter costs to operate? I don't but Im sure it's a lot. Whatever you tax cheats are thinking of doing forget it, uncle sam will be one step ahead of you, what do you think Bush meant when he say Iraq itself would fund the war? And BTW you all should read up on the Patriot Act, that was put into place by Bush (for good reasons). But that law designed to stop the flow of cash to terrorist will make sure the gubbamint knows what we are doing with our dinars.

I too will hire a professional to make sure I legally get to keep the most I can but you folks need to slow your roll, like someone else said, take your RV pay your taxes and move on.

[Rocker]

If anyone is interested google capital gains tax in the united states then click on wikipedia capital gains tax in U.S. it will give you everything you need. Thanks Rocker

[kox]

Great post Nate...When you have posibility of making money like this...just pay your taxes, and wisely invest the rest...by all means get a professinal and I am sure that no one is going to be looking at 52%...do your research...and don't try to swindle your "Uncle Sam"

[wyson]

I read that the CG tax was not supose to take effect until 2012. I was reading a CBS articale.

[desimo]

or is this just more speculation to promt people to pay to join a VIP status

This kind of insult is not what Adam is about nor the VIP section. Additionally it refers to any of us who have joined VIP to be rather stupid if that was the only thing it had to offer.

[golfnut]

if you some of you think your can move to another country and hide your RV/RI income. ...... you are mistaken.

You have to go through many loops to de-nounce you citizenship........ It is not easy..... must be done perfectly...... and takes time.

I read of an author who moved to Ireland..... lived there 5 years.. IRS got him for 5 years of income tax on 5 years of book royalties.

He was still a US citizen..... He thought he became an Ireland citizen...... big mistake......HE PAID TAX, INTEREST AND PENALTIES.

[cdb]

This is pretty easy to comprehend, even for me.

FACTBOX-Major tax provisions in U.S. healthcare bill

Mon Mar 22, 2010 5:50pm EDTMarch 22 (Reuters) - The U.S. healthcare overhaul that President Barack Obama is expected to sign into law contains about $438 billion in revenue increases over the next decade.

Regulatory News | Bonds

Here is a summary of major revenue provisions in the legislation, including modifications passed by the House of Representatives that the Senate is expected to act on this week.

MEDICARE TAX INCREASE

* The biggest revenue raiser in the healthcare package is an increase in the Medicare payroll tax by 0.9 percent on incomes over $200,000 for individuals and $250,000 for couples filing jointly starting in 2013.

That higher income group also would pay a new 3.8 percent tax on income from investments including capital gains, dividends and interest starting in 2013.

Coupled with the scheduled expiration of President George W. Bush's tax cuts at the end of 2010, the Medicare tax would bring the top tax rate on capital gains to 23.8 percent in 2013.

Under current law, the top rate on capital gains jumps to 20 percent from 15 percent in January. If Congress fails to act on Bush's expiring tax breaks, the dividends, currently taxed at a top rate of 15 percent, will be taxed as ordinary income, with the top rate scheduled to rise to 39.6 percent from 35 percent.

That means the tax on dividends could go as high as 43.4 percent when the new Medicare tax goes into effect in 2013. But Obama has proposed a top dividend tax rate of 20 percent. If Congress enacts Obama's proposal, the top tax rate for dividends would rise to 23.8 percent in 2013.

http://www.reuters.com/article/idUSN2220951920100322

Publication 525 of the Internal Revenue Code state (page 33 at the bottom middle column), regarding Foreign Currency Transactions, if you have a personal gain of more than $200 it must be reported as a capital gain.

www.irs.gov/pub/irs-pdf/p525.pdf

So, bottom line if the Dinar RV's within 2010 then our capital gain tax will only be a rate of 15% as long as we have had it for more than a year. Starting in 2011 the S**T will hit the fan.

[jam_az]

not until 2011 unless they cancel the bush tax bill

You can bet they will do THAT!!

[Gcola]

The new capital gains taxes associated with the health care bill are based upon income earned in 2013. So if we RV before then, our taxes will be based upon the current tax guidelines.

[Cherysh]

Wow so you folks now think the HC bill is to take your money? WOW! So let me get this straight, our military ( the US gubbamint) went over to Iraq and spent billions (trillions?) fighting the war and you people are mad becuase that same gubbamint wants to take some of our profits?

Unbelievable, I mean how much of a millionare do you have to be? Do you know how much a single Apache attack helicopter costs to operate? I don't but Im sure it's a lot. Whatever you tax cheats are thinking of doing forget it, uncle sam will be one step ahead of you, what do you think Bush meant when he say Iraq itself would fund the war? And BTW you all should read up on the Patriot Act, that was put into place by Bush (for good reasons). But that law designed to stop the flow of cash to terrorist will make sure the gubbamint knows what we are doing with our dinars.

I too will hire a professional to make sure I legally get to keep the most I can but you folks need to slow your roll, like someone else said, take your RV pay your taxes and move on.

You know Nate, you have alot of good points when it comes to our military and such and paying taxes. But I think alot of people are with me when I say We live is a great country, but our representatives and government are not making wise decisions with our money and their interest is not in representing what the American people want. They have gotten to the point where they are ignoring the people. I have no problem paying taxes for the country to run sufficiently (that is a maze I dont even want to begin to touch), but spending is out of control, they are making cuts where cuts should not be made, they are spending money, where money should not be spent. Its out of control and I think alot of US citizens are getting fed up with the government not listening to the people. The president made alot of promises in his campaign that he should have known he could not keep. Im sure the good intent was there, but there are to many "Currupt" people holding positions in office. I have no idea how to stop that cycle, we are all just little voices not being heard, because they dont want to hear us. I am all about paying the taxes, I am all about supporting our hard working brave troops. But seriously, if you think our government is something special, think again. I have no idea where a revamp would start, but we are in need of one, or our great Nation is going to be completely lost, its already been lost from what it was built on.

[Adam Montana]

I've said over and over that it's impossible to tell what new laws the IRS will impose for

this type of windfall - it's fairly unprecedented, and if you think the IRS won't make up a

new law on the spot for us, you're living in a fairytale.

I said "52" just to throw a huge number out there, because we're going to be paying a

LOT of taxes if we're not smart.

I didn't mean a literal 52%, if I did I would have backed it up with links.

And I stand by what I said - the majority of us ARE going to be paying a

HUGE amount of taxes... but you can bet your last Dinar that I

won't be in that majority!

[Cohab04]

In reply to the above comments, I have looked for info on capital gains and have found nothing to support 52% . Under the Bush admin. tax guidlines each individual is taxed according to their taxable income. The investment income falls into this with an additional 3.8% coming in 2011. Long term gains is 0 , if you fall into the lower cat. You must also determine your filling status. Take into consideration you may have state and local taxes. Being from SW Ohio ours will be @ 48%. With the possible high ROI we get UNCLE SUGAR can have his cut. GO RV.

[ocmba]

Minimum Alternative Tax on investments greater than 200,000

[GJG]

Obama propbaly isn't done just yet. Waite for more !!!!!!!!