DJIA up sharply, anticipating Obama victory

On 4 Nov 2008 23:04:29 GMT, Scott Seidman wrote:

Dave LaCourse wrote in
:

Obama's intended increase in
capital gains will hit *everyone* very hard.



http://www.barackobama.com/pdf/taxes...Plan_FINAL.pdf

" Capital Gains: Families with incomes below $250,000 will continue to
pay the capital gains rates that they pay today. For those in the top two income
tax brackets likewise adjusted to affect only families over $250,000
Obama will create a new top capital gains rate of 20 percent. Obama’s 20%
rate is equal is the lowest rate that existed in the 1990s and the rate
that President Bush proposed in 2001. It is almost a third lower than the rate
that President Reagan signed into law in 1986.vii"

And as for his constant whining about Massachusetts taxes:

o Massachusetts' state/local tax burden percentage ranks 23rd nationally,
just below the national average of 9.7%. Massachusetts taxpayers pay $5,377
per capita in state and local taxes. Massachusetts has dropped 17 places in
the rankings since 1977 by imposing a property tax limitation and keeping a
lid on its personal income tax rate, living down its "Taxachusetts" nickname.

o Massachusetts' personal income tax system consists of a flat rate of 5.3%
on most personal income, which ranks 32nd highest nationally.

o Massachusetts ranks 34th in the Tax Foundation's State Business Tax
Climate Index.

o Massachusetts levies a 5% general sales or use tax on consumers, slightly
below the national median of 5.4 percent. State and local governments combined
collect approximately $923 per capita in sales taxes, ranking 45th highest
nationally.

o Massachusetts' gasoline tax stands at 23.5 cents per gallon, which ranks
26th highest nationally.

o Massachusetts' cigarette tax stands at $1.51 per pack of twenty, ranking
15th highest in the nation.

/daytripper (that ought to make his head explode ;-)