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Old Yesterday, 10:52 AM
 
Location: Manchester NH
7,684 posts, read 2,064,138 times
Reputation: 2254

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Quote:
Originally Posted by SuiteLiving View Post
But that's what is required when the government confiscates more of what you produce.
Capital Gains Tax doesn't take what you produce, selling commodities or land does not equate to something you make.

Capital value shouldn't be the source of wealth creation as it doesn't involve real labor and production capacity.
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Old Yesterday, 11:32 AM
 
153 posts, read 23,337 times
Reputation: 209
In my best parody voice of the classic line from Treasures of the Sierra Madre https://www.imdb.com/title/tt0040897...ref_=tt_trv_qu







"Facts & logical reasoning? We ain't got no facts or logical reasoning. We don't need no facts or logical reasoning. I don't have to show you any stinkin' facts or logical reasoning."
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Old Yesterday, 11:48 AM
 
889 posts, read 401,687 times
Reputation: 910
Quote:
Originally Posted by Winterfall8324 View Post
Capital Gains Tax doesn't take what you produce, selling commodities or land does not equate to something you make.

Capital value shouldn't be the source of wealth creation as it doesn't involve real labor and production capacity.
My capital produced the capital gain.

Capital value isn't THE source of wealth creation, it is A source of wealth creation. Labor is another source.
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Old Yesterday, 11:57 AM
 
12,441 posts, read 9,438,051 times
Reputation: 8962
Quote:
Originally Posted by Winterfall8324 View Post
Wealth redistribution is not communism, that is just regulated capitalism.

Having a 90% CGT does not increase wealth redistribution as it will overall decrease state revenue; what it does do is change the way wealth is created so the ones who invest the labor get the return, not the ones that own the capital.
But then what motive does anyone have to invest their capital and not just hoard goods? And also, under the system you propose, how would anyone accumulate enough wealth for a decent retirement?
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Old Yesterday, 12:02 PM
 
Location: NJ
23,149 posts, read 29,110,303 times
Reputation: 15026
Quote:
Originally Posted by Winterfall8324 View Post
Libertarians, as you know them, tend to misunderstand the existence of freedom.

Freedom exists in the absence of power, since you can't eliminate power, you have to restrict ownership to what people can naturally consume/store.

That would force people to work together for larger projects and not pursue more control or wealth. The market system of consumerism makes us less free and less happy.

There are other forms of tyranny besides government power.
well, at least you admit that your goal is to make everyone poor (the natural result of socialism).
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Old Yesterday, 12:29 PM
 
36 posts, read 9,301 times
Reputation: 107
Quote:
Originally Posted by Winterfall8324 View Post
Capital gains taxes raised to 90% will move us along the way.

As investment from the private (and public) sector becomes realized due to the 90% tax communities will build cooperatives to create wealth for everyone rather than everyone fighting each-other to make a buck.

(I didn't bother to read all the posts responding to your original thought)


What do you invest in? Do you have savings and what do you do with it? Are you debt free? Do you receive any weekly or monthly benefits from the government? Do you work or are you retired?

Just trying to ascertain your profile and where you might be coming from.
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Old Yesterday, 12:29 PM
 
Location: midvalley Oregon and Eastside seattle area
3,330 posts, read 1,514,849 times
Reputation: 2636
Most of my gains and losses are in my IRA trading account. Consequently, All my gains are 100% tax at marginal rates and losses fully realized.
Our NQ account is very small. I avoid taking gains even when substantial and tax lower. l loathe taking losses even though they are at marginal rates.
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Old Yesterday, 12:41 PM
 
Location: Manchester NH
7,684 posts, read 2,064,138 times
Reputation: 2254
Quote:
Originally Posted by SuiteLiving View Post
My capital produced the capital gain.

Capital value isn't THE source of wealth creation, it is A source of wealth creation. Labor is another source.
That’s not true. Purchasing land or stocks and waiting for their value to increase is not the same thing as producing wealth.

Spending money doesn’t equate to creation of wealth.
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Old Yesterday, 12:43 PM
 
2,367 posts, read 1,503,832 times
Reputation: 5139
This nonsense again?
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Old Yesterday, 12:44 PM
 
9,530 posts, read 4,039,336 times
Reputation: 14180
Quote:
Originally Posted by Winterfall8324 View Post
That’s not true. Purchasing land or stocks and waiting for their value to increase is not the same thing as producing wealth.

Spending money doesn’t equate to creation of wealth.
No, the wealth is when you talk someone into buying it for more than what it was purchased for...

Take away investments and you stop technology/advancement

Tax everyone like it was 19xx and you have to force everyone to live like it too. Take away all the life saving medicine and care, take away your iPhone and air conditioning

Technology didn't advance in the middle ages because no one was funding it... Not investors or the oligarchy
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