eliminating the long term capital gains tax
There was considerable talk about reducing or possibly eliminating the
long term capital gains tax. I would appreciate knowing where the
discussions are in Congress. Is this currently an agenda item.
To the extent that you are in one of the bottom two tax
brackets (10% or 15%) your tax on capital gains will be ZERO
in 2008, 2009 and 2010.
For the higher tax brackets, it's still going to be 15% on
capital gains as well as qualified dividends.
I wouldn't be looking for Congress to change that in the
future.