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I am happy to report that one element of Obama's tax plan (http://www.barackobama.com/pdf/taxes/Factsheet_Tax_Plan_FINAL.pdf http://www.barackobama.com/pdf/taxe
by sethg 18y ago
I am happy to report that one element of Obama's tax plan (http://www.barackobama.com/pdf/taxes/Factsheet_Tax_Plan_FINAL.pdf http://www.barackobama.com/pdf/taxes/Factsheet_Tax_Plan_FINA...) is to "eliminate capital-gains taxes for entrepreneurs and investors in small business".
- ok1111 18y agoSo if he's elected, and that's not what happens, will I be able to hold him accountable to this internet PDF?
- ericb 18y agoHow will eliminating capital gains taxes help me as a small business owner. Lower corporate income tax rates would be intuitive, but lower capital gains taxes is kind of a head-scratcher. Should I invest in stocks via my business?
- zach 18y agoWere the company you founded to be bought out, it would be very helpful. Then again, at that point you would no longer be a small business owner. Bit of a paradox, that.
- ericb 18y agoWish I had responded sooner to continue the discussion... If I sell, it would be capital gains taxes for an individual (me) who owns the business, not capital gains for the small business, so maybe I'm still misunderstanding what is intended.
- zach 18y agoNo problem. All gains for small businesses are capital gains. Treating capital gains (as opposed to wages) differently is a characteristic of personal income tax. So I think they were referring only to individual investment in small business. The way the document is written is a little creaky, so it does seem to suggest what you thought it did, that there are "business capital gains" that businesses pay a special rate on.
- netcan 18y agoIf you sell.