Dinar Rumor Very Soon or Not.

[slatesrh]

change !!! givem a doller and he'll change it inta fittteycent

[Riverdawg]

It's Amazing how past President's have been trying to reform healthcare for years but the 1st Black and probably the most intelligent Commander we've ever had gets it done in 1 year and all he'll brakes loose. It just amazes me he goes in front of the Republican's and makes them look like idiots. What else can it be but jealousy. Keep goin Mr. Obama they'll always be haters.

Yes, and they'll always be morons too...

rd

[Riverdawg]

The rumor is fine. I think we just pointed out the most unlikely to be true part of the rumor, the Obama tax saving part.

Even though this is a rumor forum, we can express the areas of the rumor least likely to happen, right?

Well, I gotta agree with ya on the tax thing...

rd

[Riverdawg]

Taxes , if you are a american this country was built on taxes, so nomatter who was or is president, or commander and chief, you must pay i repeat you must pay taxes so get with the program.

Ugh, income taxes are fairly new to this republic... the United States of America...

rd

[racbluto]

I was under the impression that long term gain tax does not go up until next year. Additionally, unless we find out today, many of us would be hard pressed to cash in by Wednesday.

Just observations.

I heard the same thing about capital gains going up at the end of the year. And from 15% to 28% not to 50% Can anyone verify that? Also I agree that Obama is not over here to help us save money on taxes. He is not about that at all.

[Jimmy Hudson]

thats encouraging! thank you!

[Rafy]

I don't have boots on the ground or contacts at the CBI, but will share what I get when I get it. Thank you for the Thanks.

That is the attitude!!!!!!!!!! No super stars we are on this together all the way to the end. Thank you. God bless.

[rrupple]

**** yeah.....

thanks puz

Puzhalsta -

I for one appreciate your rumor. These people show up with their righteous indignations... you are correct Puzhalsta, this is a "RUMOR" area. People want facts??? I'll give everyone one very big fact..... EVERY single site and guru out there has been wrong about an RV date... every one... now there's a fact...

Thanks for your rumor.

rd

[mrs millionaire]

Hold on a minute..... I need someone to explain this "tax" thing. If we are buying dinar at no matter what price, and we are exchanging

it for USD of the equivalent, then why are we paying taxes? I know, someone will say we have gained a huge amt of money, but technically

we are exchanging one country currency for the equivalent of another country's currency. Does that make sense.......?

Can someone explain that to me please.....

Yes, captspiffy, you are exchanging one currency for another. If that were the only thing that were happening, then no tax paid. However, when there is a revaluation of currency and you are able to exchange one currency for a better valued currency then you have a capital gain. Technically, you are supposed to pay tax on anything that you purchase and then sell/exchange/barter for a better price. However, most small purchases/sales go unnoticed by the IRS. For example, if I buy a car and then later sell it for more than I purchased it for (or if I depreciated it under a business and the depreciatable value of the vehicle was less than what I sold it for) I have a taxable gain....even though it my personal property! All income earned as a US taxpayer is deemed taxable! ALL! It is not just what you receive from others in the form of a 1099 or w-2! ALL! That is how the IRS is able to take homes, cars, and other property from people, because they forgot to report this income or that income. Sure, you can try to use this loop hole or that. The IRS doesn't care if you knew the laws or not. They don't care that your accountant, banker, lawyer or neighbor down the street gave you some advice and you followed it. Ignorance is not an excuse and they will take away everything that you've worked so hard for. My advice to everyone is to do your taxes the CORRECT way only! The end result is just not worth it! The IRS will wait a couple years before they come knocking on your door, then will audit you, charge you the tax and then interest and penalties which are accrued DAILY for those years the IRS waited. It is done for that purpose, so they can collect more! You must get yourself a trusted tax professional! And then, you must also educate yourself that when you are reviewing your return, you understand that it was prepared properly. Just because a paid professional signs that they prepared the return does not mean that you will be able to hold them responsible. More often than not, a CPA will have you sign a contract that says they can only advise you, but you are liable for any mistakes they may make.