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Posted by Paul Thomas, CPA on December 6, 2007, 1:42 pm
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>
>> Any word on any proposed changes to the current 2008 Capital Gains rate
>> (0% for lowest bracket)?+
>
> No
>> Is it likely that if Congress changes CG tax rates during 2008, it would
>> be retroactive to the whole year? [Yes, I know they CAN do anything they
>> WANT...but opinions on likelihood are welcome.]
>
> Highly doubtful IMO. Remember that there won't be a new President until
> January 2009, and I don't see any way Congress could muster enough votes
> to override an expected veto of any change.
The election is in 08, with the newly elected
croo.....representatives..........to be installed in 2009. Expect new
legislation for 2009, and ~~that~~ legislation stands a good chance to be
retroactive to the start of 2009, but shouldn't cut into 2008 transactions.
We're banking on major tax legislation (sunsetting provisions, AMT, etc) by
whatever mix of "Dems" or "Cans" gets elected this next fall.
--
Paul A. Thomas, CPA
Athens, Georgia
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