Capital Gains Tax Rates to increase in 2011

Posted by Investing Freak on June 18, 2010
General

President Obama has publicly said that he will let the Bush-era capital gains tax cuts expire on schedule this year, so it’s important to know how they will affect your investments.
If you’re in the 10-15% tax bracket long term cap gains will go from 0% to 10% so if you have investments that you’ve held long term you might think of selling this year to avoid paying 10% to IRS  unless you are making a loss in which case you can hold and pray forever. For more detailed brackets visit Bargaineering

I always felt that the speed at which the TARP money was getting repaid was extreme for such a crisis. Major players paid big bucks back in order to possibly restore confidence in their institutions and the economy (of course so they could use more money to pay their CEO’s bonuses as well which was forbidden under TARP).  The latest headline didn’t shock me one bit.

After a string of profitable paybacks from Goldman Sachs, JPMorgan and 59 others, the list of deadbeats is growing. In May, 91 banks missed their dividend payments to taxpayers. Two big banks already look like serious zombies. Pacific Capital Bancorp , with $7.4 billion of assets, and Anchor Bancorp Wisconsin with $4.5 billion, have each missed five dividend payments and appear incapable of surviving without taxpayer cash.

This is so awesome and so unworthy of mentioning (since we know news always gets factored in before its published) but since my Celtics lost I had to create a new blog post.

Make money tomorrow and be careful if you’re messing with options as its options ex day.

-K

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6 Comments to Capital Gains Tax Rates to increase in 2011

  • Of course(!) the capital gains taxes will be reinstated. Why would the Fed look at themselves for areas to cut spending when they can merely raise taxes?

  • yep they will raise them but if you have a lot of long term gains that are thinking of cashing out soon (not many do thanks to the past few years) would you rather lose 10% when taking it out? 🙂 I know I wouldnt 🙂

  • Its a slow day in the market. very very slow but thats what we’d expect in options ex to not make anyone money (except me 🙂 )