I'm definitely not an accountant, but I believe capital gains tax (at least from stock sales) is flat regardless of income, and the percentage depends on the length of time between purchase & sale.

I don't think you're taxed twice - if you pay it up front, it's reflected in your tax return.

Yeah, it's separate from your normal income tax and taxed at the capital gains flat rate. So unless Huntsman has a curve ball in there, Buffett would be paying zero on all those capital gains.

Somebody on this board mentioned the other day that it used to be taxed as normal income but that changed back in the 80s. Forgive me that I am the combination of too young to know that first hand and too lazy to look that up myself.

Except that he isn't, because there are still corporate taxes.

Under current law:

Capital gains applies to securities held 366 days or longer and is exempt from income tax.

Securities held 365 days or less is regular income.

It applies to individuals.

We should just make the bet now and if he doesn't win we both get our money back. Or, even better, I'm willing to take other repub nominees versus obama so if you're willing to offer me odds against the field or a wider selection we can get this thing going now.

Why do you think that the field is anymore set today then in was in 2007?
RCP had the following polling numbers on Sept 6 2007:

Giuliani 27.8
Thompson 16.8
Romney 14.2
McCain 10.8

http://www.realclearpolitics.com/epo...years_ago.html


I too wonder why that someone seemingly resembling Bush is gaining so much support. Perry has been the harshest critic of Obama and I am sure that is garnering him support. Historically the Republicans have done a better job than Democrats of picking a candidate on that is the most electable. I still think Romney is that guy.

sample size of one, nice.

Perry is the favorite despite Giuliani's failure of a campaign strategy in 2008

But Perry wasn't included in any of last January's opinion polls...hard to see how he could win without having a decent showing there.

sample size of 1>random unsupported musings.

Gotta love the internet. People that don't know how to calculate the tax bill of a single person arguing about what the best policies are for the country as a whole.

Any gain on an investment that one holds for > one year is classified by the tax code as a capital gain, whether you buy a share of stock or a race horse. Under the Huntsman plan, Zero tax would be paid by Mr Buffett on any gain he accrued on those 700,000,000 warrants he can exercise at any time over the next 10 years.

But of course, Mr Huntsman and his daddy are big billionaires, so why am i not surprised the thinks this tax dodge is just ducky. he's taking my mortgage deduction and giving it to daddy and Buffet. Seems fair to me....

Senator Bradley and Milton Freidman have the best idea: eliminate all loopholes and lower all rates and treat all income the same, with the caveat that the lowest earners get some exemption.

just curious as i found this on the wikipedia page for capital gains tax:

"In 2008–2012, the tax rate on qualified dividends and long term capital gains is 0% for those in the 10% and 15% income tax brackets."

So does that imply that ceo's/other rich ppl who are paid $1 or no salary/income have 0% capital gains tax too? This would basically mean they are paying no tax. Am i missing something?

For what feels like the zillionth time, people who pay no capital gains taxes on dividends or long term stocks ARE ALREADY PAYING TAXES, THE CORPORATE ONE.

The field is set...
Because only Perry and Romney...
(And Sarah Palin on the sidelines)...
Have the financial resources to go all the way.

Perry my "resemble" Bush to random observers...
But GWB was Yale and 100% Establishment GOP...
Perry is Texas A&M and much more Tea Party.

Yes you are. If the amount of capital gains is large it pushes you out of the lower brackets.