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Old 11-18-2011, 08:23 AM
 
Location: Portland, OR
8,803 posts, read 7,304,905 times
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For the middle class investors, capital gains will be lowered to 10%, the rich will have their capital gains raised to 50%. Thoughts?
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Old 11-18-2011, 08:26 AM
 
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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?
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Old 11-18-2011, 08:27 AM
 
69,372 posts, read 53,664,795 times
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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?
The thoughts is that we'd end up with a bunch of rich people not cashing in their gains and rolling them over, thus you'd get ZERO tax revenues
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Old 11-18-2011, 08:31 AM
 
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So I open a company in Ireland, invest as an internationally held shell company, take capital gains abroad at a lower rate, then pay it to myself as a salary at a lower tax rate as well.

Good job driving private investment money out of America.
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Old 11-18-2011, 08:32 AM
 
Location: Raleigh, NC
20,009 posts, read 15,192,948 times
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I believe in a progressive income tax system. The rich will pay more than the poor at 10% across the board.

See, progressive.
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Old 11-18-2011, 08:36 AM
 
Location: Portland, OR
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Quote:
Originally Posted by hnsq View Post
So I open a company in Ireland, invest as an internationally held shell company, take capital gains abroad at a lower rate, then pay it to myself as a salary at a lower tax rate as well.

Good job driving private investment money out of America.
I'm a libertarian, just trying to spur discussion.

Last edited by VTHokieFan; 11-18-2011 at 08:46 AM..
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Old 11-18-2011, 08:38 AM
 
Location: Tampa Florida
22,243 posts, read 14,753,473 times
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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?
Agreed. Not that hard to do. Also, eliminate a lot of exclusions, which is not so easy to do, but could be done, if there were Legislators willing to do so.
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Old 11-18-2011, 08:40 AM
 
4,414 posts, read 3,227,391 times
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Originally Posted by florida.bob View Post
Agreed. Not that hard to do. Also, eliminate a lot of exclusions, which is not so easy to do, but could be done, if there were Legislators willing to do so.
I like it. We could maintain a progressive tax system and probably lower rates across the board if we did that.
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Old 11-18-2011, 08:44 AM
 
Location: Portland, Oregon
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The top income tax rate was 50% or above from WW2 to 1986.

Wasn't the post war period when we paid off all that debt and had massive economic expansion?
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Old 11-18-2011, 08:46 AM
 
Location: Portland, OR
8,803 posts, read 7,304,905 times
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Quote:
Originally Posted by subsound View Post
The top income tax rate was 50% or above from WW2 to 1986.

Wasn't the post war period when we paid off all that debt and had massive economic expansion?
It's an apple to oranges comparison, there were many ways you could avoid the top income tax bracket.
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