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Old 11-19-2011, 05:28 AM
 
20,979 posts, read 15,617,869 times
Reputation: 10270

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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?
I'm guessing that you're a 10%'er?

Gimmee, gimmee, gimmee.
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Old 11-19-2011, 05:43 AM
 
Location: Boston, MA
10,907 posts, read 7,716,079 times
Reputation: 5273
Quote:
Originally Posted by Mr. Mon View Post
How about just taxing capital gains at the same rate as actual earned income?

Why should my labor be taxed higher than than the return on my investments?
The difference is that you have to work, you don't have to invest in the stock market. Too many people will not invest their already taxed money if they know that the gain will be taxed at the same rate they already were taxed at.

You will be killing the impetus for people to invest.
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Old 11-19-2011, 05:46 AM
 
Location: Texas
23,829 posts, read 10,009,900 times
Reputation: 5329
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?
One of the good things Clinton and the republican congress did was lower taxes from 28 to 20 percent which spurred investment. Along with the child tax credit and raising the bar on tax exclusions for IRAs and estate tax.
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Old 11-19-2011, 05:48 AM
 
4,260 posts, read 2,856,568 times
Reputation: 985
We need to raise taxes on everyone but me, isnt that what this thread realy says?
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Old 11-19-2011, 06:01 AM
 
Location: Long Island, NY
19,712 posts, read 11,015,582 times
Reputation: 5600
Quote:
Originally Posted by Mr. Joshua View Post
The difference is that you have to work, you don't have to invest in the stock market. Too many people will not invest their already taxed money if they know that the gain will be taxed at the same rate they already were taxed at.

You will be killing the impetus for people to invest.
What is the evidence behind your theory? In fact, the evidence from the decades of data that we have from capital gains, there isn't any empirical evidence to show that your theory isn't just pulled from thin air. On the contrary, there is a vast pool of evidence to prove the opposite. When capital gains was 39.9%, there were plenty of investors willing to invest and the fact that they had to pay tax on their gains did not deter them. Short term capital gains used to be 60% and it didn't stop speculators from investing in stock options, one of the riskiest investments.

We have decades of evidence that disproves the right-wing Laffer theory that moderate taxation on labor or investments discourages people from working or investing. The idea that people with money to invest would not invest because they had to pay taxes on the gains (not principle) defies logic.

Last edited by MTAtech; 11-19-2011 at 06:09 AM..
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Old 11-19-2011, 06:09 AM
Status: "DON'T VOTE" (set 14 hours ago)
 
26,717 posts, read 14,964,466 times
Reputation: 12553
Let's find ways for people to keep their own money, rather than dream up schemes to steal it.
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Old 11-19-2011, 06:11 AM
 
Location: Maine
561 posts, read 421,286 times
Reputation: 306
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?
Excellent way to stifle investment!
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Old 11-19-2011, 06:12 AM
 
Location: Long Island, NY
19,712 posts, read 11,015,582 times
Reputation: 5600
Quote:
Originally Posted by Frank DeForrest View Post
Let's find ways for people to keep their own money, rather than dream up schemes to steal it.
Yes, we know, the right-wing equates taxes to run a government with "stealing." There couldn't be a better example that the right has fallen off the deep end and becoming anarchists, than that statement.

I interpret the complaint another way, 'we already swung the progressive income system from a fair one to one that favors the rich. Let's not mess with it now, we'll just cut programs that the poor and middle-class use, because we rich don't take advantage of them.'

Last edited by MTAtech; 11-19-2011 at 06:21 AM..
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Old 11-19-2011, 06:21 AM
Status: "DON'T VOTE" (set 14 hours ago)
 
26,717 posts, read 14,964,466 times
Reputation: 12553
Quote:
Originally Posted by MTAtech View Post
Yes, we know, the right-wing equates taxes to run a government as "stealing." There couldn't be a better example that the right has fallen off the deep end and becoming anarchists, than that statement.
"Stealing", thats what it's called when something is taken from you by force.
I guess if the thief wears a government costume it's okay with you?

Lol at less taxation =anarchy
The United States did not have an income tax until 1913, were we an anarchy up until that point?


You government employees just crack me up.
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Old 11-19-2011, 06:27 AM
 
Location: southwestern USA
1,791 posts, read 1,668,699 times
Reputation: 2342
The very thought of people being taxed progressively on capital gains------yikes and actually have the IRS receive a check from people who never have paid a nickel to them----downright Un_American.

That being said----if not 50% why dont we crawl before we walk. Its clear that a ton of the investors now are not paying anything on their capital gains----their high priced accountants manage to manuever their capital gains away from the IRS.

We shouldnt stifle investment---agreed. Yet on the other hand, why insist that a middle class family in middle America adhere to the tax codes under the threat of prosecution for tax evasion, and allow the wealthy to get off unscathed by hiring their high powered tax managers. There should be a requirement that everybody send the Irs a little something------as it is currently constituted, our tax codes are a disaster and they are DOA.

It is time to put this disastorous tax code to sleep and come up with tax reforms---a new system that is more equitable and at least requires the wealthy to contribute something.
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