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Carney has already cut Capital Gains. Do you even know what that is?
Almost everything you own and use for personal or investment purposes is a capital asset. Examples of capital assets include a home, personal-use items like household furnishings, and stocks or bonds held as investments. When you sell a capital asset, the difference between the adjusted basis in the asset and the amount you realized from the sale is a capital gain or a capital loss. Generally, an asset's basis is its cost to the owner, but if you received the asset as a gift or inheritance, refer to Publication 551, Basis of Assets for information about your basis. You have a capital gain if you sell the asset for more than your adjusted basis. You have a capital loss if you sell the asset for less than your adjusted basis. Losses from the sale of personal-use property, such as your home or car, aren't tax deductible.Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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By the way, here's how to avoid Capital Gains. Lets say a billionaire has billions in stocks. If he sells those stocks he would take a big big hit in taxes. Instead, he borrows money against those stocks @ lets say 6 percent interest and avoids the 60 percent capital gains tax.Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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[QUOTE=BillyCarpenter;n1609871]
Carney has already cut Capital Gains. Do you even know what that is?
/QUOTE]
That's rich, coming from someone who doesn't even know how tax brackets work.
Leave the complicated stuff to the adults, Skippy.Comment
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Apparently you don't realize that those I named are all liberal Democrat supporters.Originally posted by Copier Addict
Exactly!!! And Musk, don't forget him. It's good to see we are on the same page, SlimComment
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