IF THIS DON'T GIVE IT AWAY I DON'T KNOW WHAT WILL

[BULLY! BULLY!]

http://www.cnbc.com/id/44578708

Obama's tax proposal will increase millionaire's INVESTMENT taxes from 15% to 35% adding an estimated 1.5 trillion in new tax revenue.

O.k., lets do some math... an estimated 2 million people hold an average of 1 million iraqi dinar. If it revalues at $3.00 what does the added 20% tax increase come up to?

1,000,000 x 3 = 3,000,000 ( revalued amount of the average investor at $3.00 )

3,000,000 x .2 ( 20%) = 600,000 ( increased tax revenue per investor at 20% increase )

600,000 x 2,000,000 (estimated no. of investors) = 1,200,000,000,000 (1.2 trillion dollar increase)

Thats pretty damn close to Obama's estimated tax increase of 1.5 trillion!

Is this a dead give-a-way to what is going to happen to the dinar or am I way off?

GO RV!!!

Edited September 19, 2011 by BULLY! BULLY!

[Alex38]

Did I miss something? I didn't see the word 'investment' in that article... ???

[vvalley]

http://www.cnbc.com/id/44578708

Obama's tax proposal will increase millionaire's INVESTMENT taxes from 15% to 35% adding an estimated 1.5 trillion in new tax revenue.

O.k., lets do some math... an estimated 2 million people hold an average of 1 million iraqi dinar. If it revalues at $3.00 what does the added 20% tax increase come up to?

1,000,000 x 3 = 3,000,000 ( revalued amount of the average investor at $3.00 )

3,000,000 x .2 ( 20%) = 600,000 ( increased tax revenue per investor at 20% increase )

600,000 x 2,000,000 (estimated no. of investors) = 1,200,000,000,000 (1.2 trillion dollar increase)

Thats pretty damn close to Obama's estimated tax increase of 1.5 trillion!

Is this a dead give-a-way to what is going to happen to the dinar or am I way off?

GO RV!!!

I think you are making a HUGE assumption here...

[Chooch]

Yeah... nice assumption, but that is all it is.

[gatoraces]

you are, most definitely, grasping at straws.

[chara55]

You can bend, twist ,turn it into anything you want , but IMO I don't think the Dinar played into that speech in any way. JMO

God Bless

Go RRRR VVVVVVVVVV

[BULLY! BULLY!]

Did I miss something? I didn't see the word 'investment' in that article... ???

last paragraph in the article...

"At issue is the difference between a taxpayer's tax bracket and the effective tax rate that taxpayer pays. Millionaires face a 35 percent tax bracket, while middle income filers fall in the 15 or 25 percent bracket. But investment income is taxed at 15 percent and Buffett has complained that he and other wealthy people have been "coddled long enough" and shouldn't be paying a smaller share of their income in federal taxes than middle-class taxpayers."

O.K, this is opinions and I can respect everyone saying that I am making a huge assumption, I am but this is also a huge coincidence don't you think? I'm not saying his speech had anything to do with the reval, I'm asking if this could be what is really going on and if so doesn't that give marit to an RV?

[rapidrex]

last paragraph in the article...

"At issue is the difference between a taxpayer's tax bracket and the effective tax rate that taxpayer pays. Millionaires face a 35 percent tax bracket, while middle income filers fall in the 15 or 25 percent bracket. But investment income is taxed at 15 percent and Buffett has complained that he and other wealthy people have been "coddled long enough" and shouldn't be paying a smaller share of their income in federal taxes than middle-class taxpayers."

Kind of funny, really. Buffett says the wealthy "shouldn't be paying a smaller share of their income in federal taxes than middle-class taxpayers". ...But I bet he didn't mean they should be paying A LOT more, either.

Don't you think old Buffett also has to be the most unpopular rich man in the world right now?

.

[Captjohn]

http://www.cnbc.com/id/44578708

Obama's tax proposal will increase millionaire's INVESTMENT taxes from 15% to 35% adding an estimated 1.5 trillion in new tax revenue.

O.k., lets do some math... an estimated 2 million people hold an average of 1 million iraqi dinar. If it revalues at $3.00 what does the added 20% tax increase come up to?

1,000,000 x 3 = 3,000,000 ( revalued amount of the average investor at $3.00 )

3,000,000 x .2 ( 20%) = 600,000 ( increased tax revenue per investor at 20% increase )

600,000 x 2,000,000 (estimated no. of investors) = 1,200,000,000,000 (1.2 trillion dollar increase)

Thats pretty damn close to Obama's estimated tax increase of 1.5 trillion!

Is this a dead give-a-way to what is going to happen to the dinar or am I way off?

GO RV!!!

He's got to get it past a Republican house. Never happen. This is a political move by Obama. He knows his bill will never see the light of day. It's all about class warfare, of which he is the patron saint.

[Alex38]

last paragraph in the article...

"At issue is the difference between a taxpayer's tax bracket and the effective tax rate that taxpayer pays. Millionaires face a 35 percent tax bracket, while middle income filers fall in the 15 or 25 percent bracket. But investment income is taxed at 15 percent and Buffett has complained that he and other wealthy people have been "coddled long enough" and shouldn't be paying a smaller share of their income in federal taxes than middle-class taxpayers."

O.K, this is opinions and I can respect everyone saying that I am making a huge assumption, I am but this is also a huge coincidence don't you think? I'm not saying his speech had anything to do with the reval, I'm asking if this could be what is really going on and if so doesn't that give marit to an RV?

Gottcha. Thanks.

[Caye98]

You did get the math right! A+, but the other assumptions are quite inspiring. I believe there are more D's out there than you are accounting for, and many smart investors who will be able to avoid many tax burdens. IMHO

I am ready for an RI/RV yet this month. Let's hope HCL gets passed this week and the UN meeting Thursday lifts Chapt. 7!

He's got to get it past a Republican house. Never happen. This is a political move by Obama. He knows his bill will never see the light of day. It's all about class warfare, of which he is the patron saint.

Agreed!

[ddyal]

The rich (and smart) folks make their money through investments and on long term capital gains.

If you make $400,000.00 in salary this year you will pay 35% federal income tax or $140,000.00.

If you make $400,000.00 from an investment that you held for over a year (long term capital gain) you pay 15% or $60,000.00.

That's how the rich keep more of their money. Obama wants those folks to pay 35% too. That could apply to Dinar investors and lots of others including Buffett.

[LittleMissGrits]

This is only O doing what he does best .... TAXING .... So he can spend more on his cronies!

[jn1966]

No disrespect but seems like your pumping yourself and digging to hard, Everybody hear including myself wants this to happen sooner then later but in my opinion we get enough of lies and false statements from pumpers here everyday as it is already, Please lets not unintentionally feed more false hope..

I personally don't think postings like this one and many others that pull old CBI articles even dating back a few years old and saying look RV Soon because of this posting I found helps us at all, All it does is ad more false hope and confuses people more than they already are with this crazy investment that has a track record of the same routine of one day its about to RV all good!!! And then falls back to two days of really bad news that we are loosing money and then again starts all over things are really looking good its about to RV and then like clock work falls back to nope we are not making money.

This has been the same identical routine and pattern for the past 7 years nothing has changed one bit so my advise is do yourself a favor and don't get to excited digging to hard for hope because if this is ever going to happen it will happen when it happens no sense of getting to worked out over it by spending so much time researching or arguing with other members over this investment because nothing we say or do will speed this process to reach the final outcome what ever that may be.

Just my opinion which means nothing coming from a small investor so take it or leave it...

Wishing everybody best of luck and hoping this ride don't go past 2012 at worst case scenario!!!

[MovieMaker]

Cincidence maybe? Maybe not? No one knows,

but probably will know something soon! GRV!

[umbertino]

Quote

an estimated 2 million people hold an average of 1 million iraqi dinar. If it revalues at $3.00 what does the added 20% tax increase come up to?

End Quote

If it revalues at $3.00 it will be only with a LOP in action......But... , dependng on how many Dinars one owns, a few or many Millionaires could be created with just a few cents (10-15-20-25...more) RV with no lop.......

[Dinariana]

In general I think that Buffet is absolutely right that he should not be paying 15% on his huge income. Why that is against the grain with some folks here I cannot fathom. Why are poor and struggling Americans taking up the cause of the rich?

The problem for people like us is that we are not rich, and this RV, if it ever happens, will be a one time event.

The reason I don't think that this 1.5 trillion in new taxes refers to the RV is that there is ALREADY enough people invested in long term capitals gains of various sorts who would be paying more, people such as Buffet and all the others. That could easily account for the extra tax money.

Also, you didn't take into account the first 15% that we would all be paying if we have held our dinar for more than one year - that is also new money because the RV does not happen every year.

[NotAChance]

Oh, I get it now. This has been the hold up the whole time! We've waited years for this RV until Obama finally proposed raising taxes on our investment. Now it's sure to happen (eye roll).

Give me a break! This proposal hasn't a thing to do with the dinar. It won't see the light of day with republicans in the house anyhow. Even if it somehow miraculously passed, there would be no RV. And before you know it, someone would start tying it to the NEXT big political issue. Remember the debt ceiling discussion from a few weeks ago? There were several posters here that were claiming their Congressman told them personally the dinar RV was tied to the debt ceiling. As soon as the debt ceiling was lifted, the RV would happen. It was all poppycock (as most reasonable minded people here knew). Just another group of idiots taking advantage of the gullibility and desperation of other people. If (and that's a big IF) there is an RV, it will only be because it makes sense for Iraq. That's the only reason. All the speculation and prognostication about the IMF or the US or Obama or China signing off on the RV is bunk. It's about Iraq. If it makes sense (and I don't think it does) they will RV. If it doesn't, they won't.

[mrref]

http://www.cnbc.com/id/44578708

Obama's tax proposal will increase millionaire's INVESTMENT taxes from 15% to 35% adding an estimated 1.5 trillion in new tax revenue.

O.k., lets do some math... an estimated 2 million people hold an average of 1 million iraqi dinar. If it revalues at $3.00 what does the added 20% tax increase come up to?

1,000,000 x 3 = 3,000,000 ( revalued amount of the average investor at $3.00 )

3,000,000 x .2 ( 20%) = 600,000 ( increased tax revenue per investor at 20% increase )

600,000 x 2,000,000 (estimated no. of investors) = 1,200,000,000,000 (1.2 trillion dollar increase)

Thats pretty damn close to Obama's estimated tax increase of 1.5 trillion!

Is this a dead give-a-way to what is going to happen to the dinar or am I way off?

GO RV!!!

I'm sorry but I think you are missing something here....... You are way off.........:lol:

Edited September 19, 2011 by mrref

[dhr05b]

In general I think that Buffet is absolutely right that he should not be paying 15% on his huge income. Why that is against the grain with some folks here I cannot fathom. Why are poor and struggling Americans taking up the cause of the rich?

The problem for people like us is that we are not rich, and this RV, if it ever happens, will be a one time event.

The reason I don't think that this 1.5 trillion in new taxes refers to the RV is that there is ALREADY enough people invested in long term capitals gains of various sorts who would be paying more, people such as Buffet and all the others. That could easily account for the extra tax money.

Also, you didn't take into account the first 15% that we would all be paying if we have held our dinar for more than one year - that is also new money because the RV does not happen every year.

You don't seem to understand that Obama is talking about capital gains taxes - not taxes on ordinary income. Buffett and the others already pay 35%+ on ordinary income. They are taxed at 15% for their capital gains - money invested that has ALREADY BEEN TAXED. 'Poor and struggling Americans' aren't taking up the cause of the rich. 47-50% didn't pay ANY income tax last year. If we're going to be "fair," let's start with those who believe there IS such thing as a free lunch.

[mauser]

THERE WAS AN ARTICLE ON CNN? THIS A.M. ABOUT BUFFETT AND ALL THE WEALTHY PAYING CAPITAL GAINS TAXES INSTEAD OF INCOME TAXES. HE STATED HE WAS PAYING LESS TAXES THAN HIS SECRETARY BECAUSE OF LOWER INTEREST RATES ON INVESTMENTS ETC. SO THE INCREASE IN CAPITAL GAINS MAKES SENSE, DON'T LIKE IT... SEEMS LIKE EVERYTIME YOU TRY AND GET AHEAD, ONE STEP FORWARD, TWO STEPS BACK. JUST KEEP FALLING IN THAT BUCKET OF T-TS AND COME UP SUCKING YOUR THUMB!.... JUST NOT RIGHT....

[WallyWeaver]

In general I think that Buffet is absolutely right that he should not be paying 15% on his huge income. Why that is against the grain with some folks here I cannot fathom. Why are poor and struggling Americans taking up the cause of the rich?

I think you would feel the same as "some folks on here" if you understood where personal income taxes go. The reality is, not only should Buffett not be paying 15% on his huge income, he should be paying 0% on his huge income!

Consider this from the Grace Commission report in 1984:

Resistance to additional income taxes would be even

more widespread if people were aware that:

• One-third of all their taxes is consumed by waste and inefficiency in the Federal Government as we identified in our survey.
• Another one-third of all their taxes escapes collection from others as the underground economy blossoms in direct proportion to tax increases and places even more pressure on law abiding taxpayers, promoting still more underground economy-a vicious cycle that must be broken.
• With two-thirds of everyone's personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government.

So all personal income taxes only pay the interest on the US national debt. Not one penny of revenue gained from personal income taxes pays for a single government service. Not Medicare, not Social Security, not Military pay... it only pays the interest on our national debt.

So, the argument of whether or not to increase income taxes taxes on the rich is only a political move to appease a certain block of voters. It will not fix anything. It may make you feel good but it will not do anything in reality.

[BULLY! BULLY!]

Thanks for all the replies, good and bad. I posted this up so I could get a better look at this and not to get people to cheer me on or to pump myself. I will agree that I didn't take into consideration the increased taxes from people outside of the dinar investors and that is a figure that I have not been able to find out yet. I haven't found any information yet about how many people earn (not in assets but actual earnings) over 1 million a year and out of that how much of it comes from investments, since that is where the increase is proposed from. Regardless of how that comes out I still think it is not a coincidence that Obama wants this tax increase at the same time as what could be the closest we have been to something happening with the dinar.

[TimS]

Yeah... nice assumption, but that is all it is.

exactly

[Frozenflyhack]

BUT IM NOT A MILLIONAIRE!!!