The Obamanation

[TheMercenary]

Ok. So the latest gimmick is for Obama to offer breaks on Capital Gains Taxes to small businesses. A capital gains tax is a tax charged on the profit made on the sale of a non-inventory asset that was purchased at a lower price. The most common capital gains are realized from the sale of stocks, bonds, precious metals and property. How many Small businesses do you know of that have income from the sales of stocks, bonds, precious metals and properties. The majority of small businesses are S-corps, LLC's, PC's. Most of this income is taxed as personal income with some benefits from being incorporated. This is not going to do squat to help the majority of small businesses. Once again he is blowing smoke up our collective skirts in the guise of reconciliation.