Obameter #3: Capital Gains Tax on Small Business

My last few posts have been slightly huge, so here's a tiny one for a change.

Everything you own is capital. If you buy something then sell it for a profit it's a capital gain, and the IRS taxes you for it. Obama promised to completely eliminate the capital gains tax for small and new businesses. Buried deep within the Stimulus Bill is some text that reduces the capital gains tax on small businesses. The tax used to apply to 50% of capital gains. Now it only applies to 25% of them. That means investors can invest more money into small businesses without losing as much of it to taxes.

It's not everything he promised, but it's a beautiful thing.