Thursday, January 22, 2015

1-22-15 Excellent Guests for Your Show

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

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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