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Capital Gains Tax

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NEWS
November 15, 1989 | By Charles Green, Inquirer Washington Bureau
Supporters of a capital-gains tax cut prepared to abandon their push this year for the controversial tax break after falling nine votes short yesterday of preventing a Senate filibuster against the measure. Senate Democrats who oppose a capital-gains cut had threatened to filibuster any GOP attempt to consider the proposal. The vote yesterday was part of an agreement that permitted Republicans to bring the bill to the floor under the condition that it would be dropped for the year if supporters could not win 60 votes.
NEWS
September 24, 1989
House Democrats have chosen a lousy strategy for trying to defeat a White House-backed cut in the tax on stock profits and other capital gains. Fearing that they can't simply defeat this gimmicky, unaffordable tax cut this week, Democratic leaders are offering an alternative tax break that may be more popular: letting everyone have individual retirement accounts (IRAs) again. With next year's deficit likely to surpass the legal ceiling of $110 billion, it is absurd to fight over how best to lighten the tax burden.
NEWS
November 15, 1991 | BY JUDE WANNISKI, From the New York Times
The economy stinks and it's not getting any better. President Bush, I'm sorry to say, is to blame. Two years ago it was possible for those of us who had supported him in 1988 to blame the Democratic Congress for inviting stagnation by opposing the president's tax proposals. A year ago, as the recession became reality, blame still could be divided between the White House and Congress as they cut a deal to raise taxes. Today the whole mess can only be laid squarely in the Oval Office.
NEWS
September 5, 2001 | Daily News wire services
Bush won't rule out capital-gains tax cut President Bush opened the door yesterday to a cut in the capital-gains tax, a longtime Republican prescription for reviving an ailing economy, but said he first wanted to see the effects of last spring's income-tax cut. Bracing for an autumn of wrestling with Democrats over the sluggish economy and diminished budget surplus, Bush told reporters that before reducing the capital-gains tax, he...
NEWS
August 18, 1990 | By JULIANNE MALVEAUX
What will the U.S. troop deployment in the Middle East cost and how will it affect an already out-of-control federal budget? Preliminary estimates are that we'll pay $14.6 million for each day that 50,000 troops are deployed, or more than $440 million a month for these troops. Early on, President Bush warned that we'd pay whatever it cost. But when President Bush says "we," he doesn't mean all taxpayers. Even as he talks of cutting programs and raising taxes, he had the temerity, at his press conference Tuesday, to propose a capital-gains-tax cut that is likely to reduce tax revenues by $11 billion - enough to keep 50,000 troops in Saudi Arabia for more than a year and still have change.
NEWS
April 16, 2012 | By CHARLES KRAUTHAMMER
Here we go again. At the beginning of his presidency, Barack Obama argued that the country's spiraling debt was largely the result of exploding health-care costs. That was true. He then said the cure for these exploding costs would be his health-care reform. That was not true. It was obvious at the time that it could never be true. If government gives health insurance to 33 million uninsured, that costs. Costs a lot. There's no free lunch. Now we know. The Congressional Budget Office's latest estimate is that Obamacare will add $1.76 trillion in federal expenditures through 2022.
NEWS
October 24, 1996 | By Thomas Turcol, INQUIRER STAFF WRITER
Republican U.S. Senate candidate Richard A. Zimmer took a campaign swing through South Jersey yesterday, touting his support for tax cuts and business deregulation. Zimmer first visited U.S. Vision, the largest optical manufacturing company on the East Coast, in Glendora. Later in the day, he greeted employees at Atlantic Electric, in Pleasantville. "We need to promote policies that favor business growth and investment, like tax reduction and deregulation," Zimmer, a Hunterdon County congressman, said during an hourlong stop at U.S. Vision.
NEWS
September 30, 1990 | By R.A. Zaldivar, Inquirer Washington Bureau The Associated Press contributed to this article
Congressional and White House negotiators yesterday dropped capital-gains tax cuts and higher income taxes on the rich, the two most contentious issues blocking a budget agreement needed to stave off a chaotic slashing of government services. With those obstacles out of the way, negotiators were working late into the night in hopes of reaching agreement before tomorrow's deadline, thereby avoiding massive spending cuts throughout the government mandated by the Gramm-Rudman deficit-reduction law. If a pact is reached, President Bush was expected to return from New York, where he was attending a U.N. summit on children, to join in announcing the package today.
BUSINESS
October 9, 1989 | By Glenn Burkins, Inquirer Staff Writer
When summer leaves turn crimson and the morning air blows crisp, it can mean only one thing for millions of working Americans: Year-end tax-planning time is upon us once more. With three months left in 1989, experts say it's not too soon to begin planning for the 1990 filing season. For those who have not thought about taxes since April 15, the first order of business is to get organized. That means familiarizing yourself with the latest tax-law changes plus changes in your own financial picture.
NEWS
December 8, 1991 | By John E. Yang, Washington Post
As his presidency came under increasing criticism in recent weeks, President Bush had a ready response: Wait until Congress leaves town, he said, and he could take his message to the American people. He could use his bully pulpit to pressure Congress to take the action he says is necessary to boost the economy, such as cutting the capital gains tax. But in speeches around the country last week, the President instead sounded decidedly defensive as he sought to counter accusations that he is insensitive to Americans hit hard by economic problems.
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BUSINESS
December 6, 2013 | By Erin E. Arvedlund, Inquirer Columnist
The fiscal cliff and American Taxpayer Relief Act made many changes to the U.S. tax regime, and investors are trying to minimize the amount of capital-gains taxes they have to pay as a result. John Garvey, vice president of wealth management at UBS in Philadelphia, says the bank has been advising clients to rebalance their portfolios after a few years of staggering gains in stocks and bonds. UBS holds a house view that in 2014 the stock market could register another year of 7 percent to 8 percent gains, bringing the S&P 500 to 1,850 over the next six months.
BUSINESS
December 25, 2012 | By Steve Rothwell, Associated Press
Stocks fell in light trading Monday during a shortened holiday trading session with lawmakers running out of time to reach a budget deal that would prevent the U.S. from going over the so-called fiscal cliff. The Dow Jones industrial average fell 52 points to 13,139.08. The Standard & Poor's 500 index gave up 3 points to 1,426.66 The Nasdaq composite slipped 8.4 points to 3,012.60. "There is starting to become a little bit of an acceptance that we fall off the fiscal cliff," said JJ Kinahan, chief derivatives strategist for TD Ameritrade.
NEWS
April 16, 2012 | By CHARLES KRAUTHAMMER
Here we go again. At the beginning of his presidency, Barack Obama argued that the country's spiraling debt was largely the result of exploding health-care costs. That was true. He then said the cure for these exploding costs would be his health-care reform. That was not true. It was obvious at the time that it could never be true. If government gives health insurance to 33 million uninsured, that costs. Costs a lot. There's no free lunch. Now we know. The Congressional Budget Office's latest estimate is that Obamacare will add $1.76 trillion in federal expenditures through 2022.
NEWS
January 25, 2012 | By Charles Babington, Associated Press
  WASHINGTON - President Obama, having watched his Republican adversaries pound him for weeks, got his turn Tuesday, using his State of the Union speech to land the first major counterpunch of the still-forming 2012 election. It came before a prime-time audience of millions that the GOP candidates can only envy, even if their fiery debates are turning heads. Obama didn't mention Mitt Romney or Newt Gingrich in his third State of the Union address. But the GOP contenders were never far from mind.
NEWS
July 26, 2002
The scandal, stock prices and accountability To all you people dumping your stocks, a sincere and heartfelt thank you ("Volatility rules as Dow falls once again," July 24). Every dollar going into the 401(k) right now is buying 40 percent more than it did a few months ago. And when the market goes back up - and it will, as it always has - there will be 40 percent more added to the 401(k) than there would have been in a flat market. Keep up the good work. Panic and sell. Don Klipstein Ambler seniordragon@juno.
NEWS
October 27, 2001
Talk about spin. One Republican congressional leader conceded that the $100 billion economic stimulus package approved this week by the House was "a little overreaching. " Offering up hefty tax breaks for the wealthiest Americans and biggest corporations seems more like bending over backwards. It races to the aid of people other than those in most need post-Sept. 11. Sure, it's the old Washington gambit: Stake out an aggressive opening position in the hope of getting more than half a loaf in the give-and-take.
NEWS
September 5, 2001 | Daily News wire services
Bush won't rule out capital-gains tax cut President Bush opened the door yesterday to a cut in the capital-gains tax, a longtime Republican prescription for reviving an ailing economy, but said he first wanted to see the effects of last spring's income-tax cut. Bracing for an autumn of wrestling with Democrats over the sluggish economy and diminished budget surplus, Bush told reporters that before reducing the capital-gains tax, he...
NEWS
July 5, 2000 | By Rich Henson, INQUIRER STAFF WRITER
Olive Shaffer, a Delaware County woman whose trailer park is being sold against her will by her legal guardian, would pay a significant capital-gains tax if the property changes hands before her death. The 20 percent tax could amount to as much as $160,000 on a sales price of $850,000, according to her lawyer. But the tax would be minimal at most if the park was sold after it passed to her heirs through her will. The reason has to do with the way the capital gain is calculated for federal tax purposes.
BUSINESS
February 1, 2000 | By Miriam Hill, INQUIRER STAFF WRITER
If last year's stock market lifted your bottom line, get ready to let the Internal Revenue Service deflate it. It's time to start thinking about paying capital-gains taxes. Although calculating those federal taxes can be an exercise in pencil-breaking frustration, it is useful, especially if the review leads to money-saving changes. And this year does bring a bit of good news: The IRS has introduced a shorter worksheet that many mutual-fund shareholders can use to tally their taxes.
NEWS
December 6, 1996 | By Donald Kaul
Call me a tax-and-spend liberal if you will, but I have to admit I've always been soft on taxes. Not that I enjoy paying them, Lord knows, but I feel that taxes are the way we express regard for our community. Give me the option of living in a high-tax state (New York, Maryland, Massachusetts, Minnesota) or a low-tax state (Mississippi, Alabama, Louisiana) and I'll take the high-tax state every time. They have better schools, finer cultural institutions and more recreational facilities, and treat their poorest citizens more humanely than do low-tax states.
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