Question about stock investment gains and taxes?

I read that as of 2008, if your taxable income is 30,000 or less, your income received from your investments would be taxed by 5%. Is that true? So long term gains are taxed by 5%, and short term gains, or sold shares within a year, are taxed by 35% ? Thank you.

The long term capital gains tax rate for tax year 2008 is 0% on households in the 15% tax bracket. So if you expect to be in the 15% tax bracket this year, it is highly, and I mean HIGHLY, desirable that you plan your investments in order to realize long term capital gains by the end of the year to take advantage of what may be a once in a lifetime opportunity.

If your income is $30,000 or less, your regular income (including short term gains) is only taxed at 15%.

It's only when you get up to $60,000 income that the rates increase, and then, only on the additional income above the threshold for the next bracket.

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