Quote Originally Posted by Aloha_Shooter View Post
I sometimes forget some of you either weren't alive or weren't paying attention during the Reagan administration. The reduction to 50% was all he could get through Tip O'Neill's Congress until the new Congress was elected.
Yet those are the rates for "Reaganesque". If you want "intentions" rather than "data", it might make it easier for those of us who weren't alive or paying attention to understand you better.

The cap gains rate was a Congressional compromise (again). Reagan accepted it to get the rate reductions he considered to be more important to spur economic progress. It was reduced in an attempt to increase business investment as another economic spur but even a return to 28% cap gains would be an improvement over where Obama/Pelosi/Reid wanted to push it (since only "evil greedy businessmen" make any capital gains in their worldview).
According to my research, long term capital gains tax will increase to 20% (10% for the 15% tax bracket) with 5 year long term capital gains at 18%. Positively Reaganesque. Of course, short term capital gains gets hit pretty hard, but that should encourage investment rather than speculation. Do you think anyone in the 36% and 39.6% tax brackets will stop trying to make as much money as they can?