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I shouldn't have to do this for you but I'll do it this one time...
Nice.. It appears you can't respond. I said that money earned from simply investing already-owned money should be taxed at least as much as money earned by hard work. You think it should be taxed much less but can't give a reason why.
Capital goes in to companies where it "add to the long-term net worth of a corporation" in turn provides a better investment for people looking to invest their money and thereby raising people's retirements.
In other words if you tax capital gains you tax the people's retirement plans. It's that simple.
I went back on my explaining it to the ignorant comment, it won't happen again.
Capital goes in to companies where it "add to the long-term net worth of a corporation" in turn provides a better investment for people looking to invest their money and thereby raising people's retirements.
In other words if you tax capital gains you tax the people's retirement plans. It's that simple.
I went back on my explaining it to the ignorant comment, it won't happen again.
Taxing the peoples' retirement plans, taxing the peoples' wages... Capital gains are not exclusively for retirement (and don't forget about dividends now), but that aside, you still haven't explained why they should be taxed less than labor wages. It's still income, is it not?
So making money off of money, e.g. dividends and capital gains, something that basically happens automatically (you just have to already have money), should not be considered 'income' and therefore should be taxed much less than hard-earned money?
Quote:
Originally Posted by oz in SC
Of course,it has already been taxed once.
Envy rears it's ugly head again.
With capital gains taxes, your money is not being 'taxed again'. Say you invest $100k and that investment earns you $10k. What is being taxed is the $10k, not the original investment.
Which leaves less money for capital, which, as we see, is money that can be reinvested into a company for expansion. Now expansion doesn't always mean more jobs or productivity but it at least gives the opportunity.
Taxing the peoples' retirement plans, taxing the peoples' wages... Capital gains are not exclusively for retirement (and don't forget about dividends now), but that aside, you still haven't explained why they should be taxed less than labor wages. It's still income, is it not?
I don't think you understand the word capital as it's referred to in a business.
I don't think you understand the word capital as it's referred to in a business.
That's your mistake. I've explained the reasoning behind my position, but you still haven't explained yours. I think income from hard work should be taxed no more than income earned by investing already-earned money. That's because hard work should be rewarded more than sitting on your ass. Your turn - explain why you think wealth should be taxed less than hard work.
eta: by the way, you seem to keep forgetting we are not just talking about capital gains.
Last edited by LogicIsYourFriend; 09-19-2010 at 10:15 AM..
Reason: eta
Particularly among the wealthy and their lapdogs...
Yet if you want to find real political rage — the kind of rage that makes people compare President Obama to Hitler, or accuse him of treason — you won’t find it among these suffering Americans. You’ll find it instead among the very privileged, people who don’t have to worry about losing their jobs, their homes, or their health insurance, but who are outraged, outraged, at the thought of paying modestly higher taxes.
The rage of the rich has been building ever since Mr. Obama took office. At first, however, it was largely confined to Wall Street. Thus when New York magazine published an article titled “The Wail Of the 1%,” it was talking about financial wheeler-dealers whose firms had been bailed out with taxpayer funds, but were furious at suggestions that the price of these bailouts should include temporary limits on bonuses. When the billionaire Stephen Schwarzman compared an Obama proposal to the Nazi invasion of Poland, the proposal in question would have closed a tax loophole that specifically benefits fund managers like him.
The spectacle of high-income Americans, the world’s luckiest people, wallowing in self-pity and self-righteousness would be funny, except for one thing: they may well get their way. Never mind the $700 billion price tag for extending the high-end tax breaks: virtually all Republicans and some Democrats are rushing to the aid of the oppressed affluent.
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how true...
