1. Dr. Gerard Lameiro: State of the Union
Rebuttal – A Conservative View
2. Bill Tatro: On the State of the
Union
State
of the Union Rebuttal – A Conservative View
What is the President proposing in the
State of the Union message? First, capital gains tax rates will increase to
28%. Second, the higher capital gains tax rates will also be applied to
certain “inherited assets” that are not currently taxed. For example, if
parents buy and hold some assets during their lifetime, and then give them
to their children as part of their inheritance, the value of the assets at the
time of inheritance (typically higher than when the parents purchased the
assets) becomes the children’s tax basis for later capital gains.
Effectively, the asset appreciation during the time of the parents' ownership
is tax free. It is a vehicle for allowing tax free growth and
giving children more. Those two steps are estimated to result in $320 billion in
new taxes over a ten year period. [more...]
On
the State of the Union
By Bill Tatro
Given that the House and now the Senate are under Republican
control, it would seem ludicrous that the President would announce programs
that had no chance of passage. But announce he did. Falling oil prices,
rising stock market, the unemployment rate, job creation, record college
graduation, all were chronicled as Obama accomplishments. Most will insist the
evening's entertainment as light with no real substance or anything that will
seriously be accomplished. Au contraire! DOA? Not quite! [more...]
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