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Old 06-03-2014, 06:35 PM
 
Location: United States
5,888 posts, read 4,496,142 times
Reputation: 1906

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Quote:
Originally Posted by T-310 View Post
Why should investments be taxed at all.
Because they favor the rich. The poor don't have a lot of investments so they get the shaft.
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Old 06-03-2014, 06:48 PM
 
Location: 125 Years Too Late...
10,482 posts, read 10,054,849 times
Reputation: 9204
Quote:
Originally Posted by VTHokieFan View Post
For the middle class investors, capital gains will be lowered to 10%, the rich will have their capital gains raised to 50%. Thoughts?
Why so modest? How about "we" take all income above 25K per year from everyone? Let the government elite class do with it as they wish. Everyone would make the same yearly salary. There would be no squabbles about "rich" and "poor." Everyone would have the same income. Anyone not having the ability to survive on 25K per year would be put in a training program to teach them how to live within their means and adjust their lifestyles.

My salary would go up under such a plan. Would yours go up... or are you "rich"?
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Old 06-03-2014, 07:03 PM
 
Location: Fredericksburg, VA
10,337 posts, read 10,507,493 times
Reputation: 13333
Quote:
Originally Posted by clb10 View Post
Because they favor the rich. The poor don't have a lot of investments so they get the shaft.
Why should a system not favor those who put the most into it?
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Old 06-03-2014, 07:09 PM
 
Location: USA
7,462 posts, read 5,480,160 times
Reputation: 12261
Quote:
Originally Posted by VTHokieFan View Post
For the middle class investors, capital gains will be lowered to 10%, the rich will have their capital gains raised to 50%. Thoughts?
Eh... I don't really see any advantage to it.

The thing about taxes is that whatever is taxed is discouraged. For example, if one raises "sin taxes," you often just end up with people purchasing fewer "sin" items. Income is a bit flexible in that regard since most people won't actually TRY to earn less money just because their income taxes went up, but it is still a questionable decision. Similarly, taxing investment just discourages investing, which probably isn't what we want in the long run.

Personally, aside from closing stupid tax loop-holes and changing the tax code to stop stomping on small businesses, I don't really think our nation's problems will be solved with major changes to the tax system.
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Old 06-04-2014, 09:44 AM
jw2
 
2,028 posts, read 2,500,838 times
Reputation: 3345
Quote:
Originally Posted by ChrisC View Post
Why so modest? How about "we" take all income above 25K per year from everyone? Let the government elite class do with it as they wish. Everyone would make the same yearly salary. There would be no squabbles about "rich" and "poor." Everyone would have the same income. Anyone not having the ability to survive on 25K per year would be put in a training program to teach them how to live within their means and adjust their lifestyles.

My salary would go up under such a plan. Would yours go up... or are you "rich"?
It wasn't that long ago that people who felt they were not making enough money actually strove to earn more rather than demand the government make things even.
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Old 06-04-2014, 10:35 AM
 
69,372 posts, read 53,796,370 times
Reputation: 9357
Quote:
Originally Posted by clb10 View Post
Because they favor the rich. The poor don't have a lot of investments so they get the shaft.
if the poor invested rather than rushing out and buying the latest $100 pair of tennis shoes, or their $10 bag of weed the minute their welfare check arrives, maybe they wouldnt be so dam poor..
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Old 06-04-2014, 10:39 AM
 
7,846 posts, read 5,059,338 times
Reputation: 4025
Quote:
Originally Posted by T-310 View Post
Why should investments be taxed at all.
I know.. why tax anything. The rich shouldn't pay taxes because they are rich and better than us

Quote:
Originally Posted by pghquest View Post
if the poor invested rather than rushing out and buying the latest $100 pair of tennis shoes, or their $10 bag of weed the minute their welfare check arrives, maybe they wouldnt be so dam poor..
If the poor invested instead of struggling to pay rent and buy food, maybe they wouldn't be so damn poor.
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Old 06-04-2014, 11:19 AM
 
Location: United States
5,888 posts, read 4,496,142 times
Reputation: 1906
Quote:
Originally Posted by pghquest View Post
if the poor invested rather than rushing out and buying the latest $100 pair of tennis shoes, or their $10 bag of weed the minute their welfare check arrives, maybe they wouldnt be so dam poor..
Stereotyping is a sign of a weak argument.
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Old 06-04-2014, 11:21 AM
 
14,298 posts, read 7,772,480 times
Reputation: 4243
Quote:
Originally Posted by VTHokieFan View Post
For the middle class investors, capital gains will be lowered to 10%, the rich will have their capital gains raised to 50%. Thoughts?
That would be a good way to limit investment, innovation, and growth, why would people take the risks if they would stand to lose 50%. I'm sure Obama would approve.
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Old 06-04-2014, 11:24 AM
 
14,298 posts, read 7,772,480 times
Reputation: 4243
Quote:
Originally Posted by Opin_Yunated View Post
IIf the poor invested instead of struggling to pay rent and buy food, maybe they wouldn't be so damn poor.
LOL

Back in the days I was selling stuff to pawn shops just to pay the rent and feed my family, I never thought to take the risk and invest it instead.
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