CNBC Covers 2008 Economic Issues
In a video from this morning, CNBC brought together Senior Economic Advisors for both the Obama and McCain campaigns. Here they “drew the economic battle lines” for the 2008 election season. We at Election Stocks were particularly interested with what they said about the Capital Gains Tax.
Our Capital Gains Tax, now at 15%, would be allowed to drift up to about 28% under the rule of Barack Obama. Or at least, that was his suggestion some time ago. We at electionstocks think that his stance on this particular issue should change as he becomes less polarized for the General Election.
Some fear that an increase in Capital Gains Tax leads to a massive sell-off in the market. If people know their returns are going to be more heavily taxed they may be tempted to sell stocks and realize their gain before the tax is in effect. Although this happens on a short-term scale, Obama’s financial advisor asserts it has no long-term significance.
Posted: June 6th, 2008 under Economy, McCain, Obama, Tax Policy.
Comments: 2
Comments
Comment from Keaton
Time: June 6, 2008, 11:37 am
This is one of the reasons that I like McCain. His plans call for a lower gains tax, which is a much more economy friendly move.
Comment from JJ Adams
Time: June 6, 2008, 11:39 am
Keaton has got to be kidding. McCain still supports this ridiculous gas tax vacation that is nothing but populist pandering!
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