There will be long-term gain if we step up to the mark.

The tax rate on long-term capital gains is now 15 percent.

Consider, for example, someone who had a long-term gain of $20,000 last year.

And long-term gains now carry a tax rate of only 20 percent.

At the same time, they sold an issue with a long-term gain.

For a long-term capital gain - on an investment held at least a year - the top tax rate is 28 percent.

There are no long-term gains to be made from these since we keep adding to the population.

The President's main reason was that the bill did not lower taxes on long-term capital gains.

Consider what happened in the late 1980's, after the holding period for long-term capital gains was increased from 6 to 12 months.

In this way, the Taxpayers get the 28 percent rate on their long-term gains.