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Why would anyone engage in any business whatsoever if capital gains taxes were 90%?! That makes no sense. You're talking about putting every company out of business, ruining the stock market, and leading to a jobless society. You'd have to be a complete moron to think in any fashion that would be a good idea, I'm sorry to tell you. Completely clueless.
Not to mention the fact that nobody would ever be able to retire; especially since all the 'evils' that he speaks about with regard to investing, keep millions of people above the poverty line.
Under his regime, people would have to work up until their deathbed. Thank Bujezus OP is a fiscal oddity; I was glad my parents didn't have to suffer when it came time to put their work on their back burner. They weren't rich by any means, but their investments kept them safe and warm until they passed.
Not to mention the fact that nobody would ever be able to retire; especially since all the 'evils' that he speaks about with regard to investing, keep millions of people above the poverty line.
Under his regime, people would have to work up until their deathbed. Thank Bujezus OP is a fiscal oddity; I was glad my parents didn't have to suffer when it came time to put their work on their back burner. They weren't rich by any means, but their investments kept them safe and warm until they passed.
Do you really think retirees should be dependent on corporate wealth? Stock investments along with commodity investments make buyers reliant on the well being on the company/seller of commodity to produce wealth for them.
Wouldn’t it be much more sustainable to have community cooperative investment offer the institutions retirees needed to live life well?
In major cities and sunbelt cities where all the job/wage growth is happening, prices are going up and the working class is being moved out or pushed to poor areas with miserable public standards and crime.
Do you really think retirees should be dependent on corporate wealth? Stock investments along with commodity investments make buyers reliant on the well being on the company/seller of commodity to produce wealth for them.
Wouldn’t it be much more sustainable to have community cooperative investment offer the institutions retirees needed to live life well?
How would this work? Where would my checks in retirement come from? What is the mechanism that would be generating the revenue needed?
I favor the opposite extreme. There should be no such thing as a capital gains tax. My income is already taxed. Once Uncle Sam has helped himself to my earnings, anything I do with the net should be off limits. If I choose to use some of that for investments, Uncle Sam shouldn’t be allowed to double dip: the income base has already been taxed.
It’ll never happen. Hopefully a profoundly idiotic 90% tax won’t either. Unfortunately I know which extreme is more likely.
They would put you onto a little ice raft and wave you off as you glide over to your new retirement home in the land of milk and golden honey.
Bon voyage!!
Funny.
But if a community owned its own capital through cooperative ownership, they would choose to invest it by the needs of the locality democratically;
And furthermore cost restrictions set by government and private ownershers would no longer be intrusive allowing families, churches, and other such institutions to provide care for the elderly.
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