I don't have a dog in this fight, but...

[classicman]

If the owner of the house had made a principled stand on that, would there be a few more employed citizens?

[Spexxvet]

Originally Posted by classicman

If the owner of the house had made a principled stand on that, would there be a few more employed citizens?

I don't have principles. Have we met?

[classicman]

lol - you got the Romney reference, right?

[infinite monkey]

And I missed old Bob this weekend! I can just imagine the look on his face. What was his response?

I love Bob.

[Lamplighter]

Yes, I've seen him when he was upset with an interviewee,
but most of the time he's an old-school, courteous reporter.
This time he was just incredulous and asked Priebus to repeat the remark.
The link above has the video

[infinite monkey]

I will watch the link later. Thanks!

I remember Bob, during one more stupid thing by the McCain/Palin campaign, repeating incredulously "WHAT were they THINKING?"

He's awesome!

[infinite monkey]

Oh, my, Lamp.

RNC Chair: What a maroon. What an ignoranamus.

[classicman]

Also. how was it belated? I was responding to BigV and Lamp who had posted only minutes before me?

[SamIam]

My OWN reply is belated. You had made your post about capitol gains being like saving back on 1-24.

It is my feeling that comparing capitol gains to saving makes it sound like peope just tucking away what they can in their savings accounts down at the local bank. There is simply no comparison between the two.

[classicman]

Originally Posted by SamIam

It is my feeling that comparing capitol gains to saving makes it sound like people just tucking away what they can in their savings accounts down at the local bank. There is simply no comparison between the two.

Actually they are the same thing.
Almost everything you own and use for personal or investment purposes is a capital asset.
Including your home, household furnishings, stocks and bonds even your personal savings account.

[Lamplighter]

Originally Posted by classicman

Actually they are the same thing.
Almost everything you own and use for personal or investment purposes is a capital asset.
Including your home, household furnishings, stocks and bonds even your personal savings account.

Classic, where do you find this interpretation ?
It runs counter to what I understand.

I agree about your sale of your home being a capital gain
- after personal exclusion(s), cost of improvements and any losses.

But I believe:
... household furnishings are personal property
... stocks and bonds (gains and losses) are taxed as capital gains
... your personal savings account is taxed as ordinary income

Some, but not all, states do have personal property taxes on things like mobile home, boats, RV's etc.

[tw]

Originally Posted by classicman

Almost everything you own and use for personal or investment purposes is a capital asset.

When I eat pâté, that is a capital gain. In the bathroom, it is a capital loss. Can I write that off?

Now I will need receipts. Paperwork.

[infinite monkey]

Originally Posted by tw

When I eat pâté, that is a capital gain. In the bathroom, it is a capital loss. Can I write that off?

Now I will need receipts. Paperwork.

Go with Charmin. The bears say it leaves nothing behind.

[Happy Monkey]

A savings account may be an asset, but unless your savings account is in a foreign currency, it's not going to make any capital gains. Interest is ordinary income.

(and I'm not sure if foreign currency inflation/deflation is counted as capital gains for tax purposes, though I wouldn't be surprised)

(further edit: sometimes)

[classicman]

from the irs.gov website.

The savings accounts, as HM pointed out is only counted sometimes.