Ok now what? A 70% tax for foreign currency?

[BANE]

Just read it on a chat. That is ridiculous! That cannot possibly be true...Thoughts?

[PAPATOM]

nothing I've ever read.

there is an additional tax on Foreign Assets.....like 30%......

[kingfish]

I wouldnt put anything past our CURRENT government.

They would take a bottle out of a babys mouth to get their share.

Edited September 12, 2010 by kingfish

[brandedbabe]

O.k...I had this inital reaction but after reading scooters links this appears to go both ways here, between corporations and private investors. I am hoping someone can clear this up..

If you want another option you should join the V.I.P group because Adam has hand around this issue.

[BBALL99]

Hey,

Spoke to our corporate accountant today and she told me the current

tax for currency traders would be 35% tax for the first 40% of capital gains and

15% tax for the remaining 60% of capital gains if I recall correctly.

I do recall the total amount was 23% tax total.

She said it was something like the 40/60 rule. She said she would get some more info

for me and the form and procedure to file for this.

She said this is for an individual filing.

This is just some info I am relaying and I hope it helps others.

Thanks!

[bayoubobby]

Just read it on a chat. That is ridiculous! That cannot possibly be true...Thoughts?

http://www.zerohedge.com/article/guest-post-911-%E2%80%93-fourth-turning-perspective

The link explains it better than I can. We are midst an historic cycle, a fourth turning.

I am optimistic about the outcome. I haven't been this excited about events since the sixties. Truly, we are in an interesting time.

There is no tax--yet. If there is one being proposed then we will know when and if it comes to pass. Until then, who knows?

I hope the PTB here will let the link stay. It is one which helps put into perspective what is happening around us. Please.

Consider this as well: should the boon come to us what then of the dollar's value? Will it strengthen or weaken? Will it buy more or less? If past is prologue, we all know what will be given our present financial scheme.

Until then be not faint of heart. Rejoice and know the future comes not a cropper. Something wondrous is about to happen.

[John54]

I will believe that when i see it...they are having trouble trying to extend the Bush tax cuts or not. 70% tax rate ...not

[PAPATOM]

well reading the scooter chat shows that there is something up...they are trying to get an additional tax into another bill.....hidden..and passed before the next ellections in november....so anyone that knows how to search that stuff...get on it.....

the links given in the chat dont work for me.....or i'd be searching them.

we also need to garner support outside this forum if it is happening. like Glenn Beck.....or hannity.....someone that can announce to a wide audience that the dims are trying to get some MORE taxes added to our already overburdened shoulders!

[2dinar1dong]

70 % they will have to take it by Gun Point....

[A. Zuccaro]

70 % they will have to take it by Gun Point....

MY THOUGHTS EXACTLY!!! ANN

[dinariac]

Hey,

Spoke to our corporate accountant today and she told me the current

tax for currency traders would be 35% tax for the first 40% of capital gains and

15% tax for the remaining 60% of capital gains if I recall correctly.

I do recall the total amount was 23% tax total.

She said it was something like the 40/60 rule. She said she would get some more info

for me and the form and procedure to file for this.

She said this is for an individual filing.

This is just some info I am relaying and I hope it helps others.

Thanks!

Have your accountant check into the TIPRA (Tax Increase Prevention & Reconciliation Act of 2005) Passed by Congress in May 2006. Basically it states there are NO Capital Gains taxes if your investment was purchased between 2008 -2010. Applies to investors in the 10% to 15% tax bracket. And that is based on your last filed tax return (2009). Have her check into this and let us know if my information is accurate.

We definitely need the RV NOW!!!!!

GGGGOOOOOOOO RRRRRRVVVVVVVV

Edited September 13, 2010 by dinariac

[ftruck7]

I guess they will have new residents in Leavenworth.

[dlbfilm]

Stop worrying until we know all the facts...... go watch football.... get your mind off of all of this.... lol

[Texan49]

Stop worrying until we know all the facts...... go watch football.... get your mind off of all of this.... lol

Agreed Go COWBOYS!!!!

[dlbfilm]

Cowboys.... go, go, go..... RV, GO, GO, GO.... how could life get any better.... lets all just have some fun....

[tommy17]

I guess they will have new residents in Leavenworth.

Actually i was thinking of costa rico

[viper51]

70 % they will have to take it by Gun Point....

Amen my brother.

[bodeen]

GO COWBOYS..............................

[stoger1]

I would think in order for this economy to get going, we need cash money to spend. Spending creates a demand, a demand creates jobs, jobs create money. It's a full circle deal here but our gov't doesn't quite see it that way. They are blinded for some reason..........

[Niko]

Steelers!!!!!!!!

[Sassysmom]

[kingfish]

I would think in order for this economy to get going, we need cash money to spend. Spending creates a demand, a demand creates jobs, jobs create money. It's a full circle deal here but our gov't doesn't quite see it that way. They are blinded for some reason..........

Not blinded!!! Pushing the US over a cliff.... You are correct in what NEEDS to happen.... O has his own agenda.... Socialism.

[tykmoore]

thanks for posting

[racbluto]

Have your accountant check into the TIPRA (Tax Increase Prevention & Reconciliation Act of 2005) Passed by Congress in May 2006. Basically it states there are NO Capital Gains taxes if your investment was purchased between 2008 -2010. Applies to investors in the 10% to 15% tax bracket. And that is based on your last filed tax return (2009). Have her check into this and let us know if my information is accurate.

We definitely need the RV NOW!!!!!

GGGGOOOOOOOO RRRRRRVVVVVVVV

http://taxes.about.com/library/bl_TIPRA.htm#SEC._102._CAPITAL_GAINS_AND_DIVIDENDS check this link

[keepmwlknfny]

Hey,

Spoke to our corporate accountant today and she told me the current

tax for currency traders would be 35% tax for the first 40% of capital gains and

15% tax for the remaining 60% of capital gains if I recall correctly.

I do recall the total amount was 23% tax total.

She said it was something like the 40/60 rule. She said she would get some more info

for me and the form and procedure to file for this.

She said this is for an individual filing.

This is just some info I am relaying and I hope it helps others.

Thanks!

As Phoenix would say....... 100% correct!! lol no way in hell there will be a 70% tax for us.....just not going to happen so dont get your panties in a bunch!!!