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In a true free market economy, savings are used to expand capital which creates economic growth. Why are we penalizing people for saving money in this country? Even interest in savings accounts is taxable. If you really want the rich to pay more in taxes and pay their fair share, it's time to have a consumption tax.
In a true free market economy, savings are used to expand capital which creates economic growth. Why are we penalizing people for saving money in this country? Even interest in savings accounts is taxable. If you really want the rich to pay more in taxes and pay their fair share, it's time to have a consumption tax.
Agreed...although the left sees all earning (regardless of risk and investment) as potential taxable revenues to feed their social programs and an opportunity to redistribute for the sake of "fairness".
In a true free market economy, savings are used to expand capital which creates economic growth. Why are we penalizing people for saving money in this country? Even interest in savings accounts is taxable. If you really want the rich to pay more in taxes and pay their fair share, it's time to have a consumption tax.
So, the rich can save more, and pay no taxes on the income from it, while most of America that doesn't save anything to begin with, better pay more of what they earn because virtually all they earn is likely spent and have nothing left to save.
BTW, savings and investments are taxed in other countries as well, I should know.
So, the rich can save more, and pay no taxes on the income from it, while most of America that doesn't save anything to begin with, better pay more of what they earn because virtually all they earn is likely spent and have nothing left to save.
BTW, savings and investments are taxed in other countries as well, I should know.
EG, do you think that the Renaissance in Florence, IT could have happened without wealthy people spending their savings on art, music, and invention?
So, the rich can save more, and pay no taxes on the income from it, while most of America that doesn't save anything to begin with, better pay more of what they earn because virtually all they earn is likely spent and have nothing left to save.
BTW, savings and investments are taxed in other countries as well, I should know.
What's wrong with saving? Eventually they have to spend that money: people just don't save forever. The rich are always spending. Poor poor logic.
BTW, alluding to what other countries are doing doesn't really change the negative economic reality of taxing savings and investment.
What's wrong with saving? Eventually they have to spend that money: people just don't save forever. The rich are always spending. Poor poor logic.
BTW, alluding to what other countries are doing doesn't really change the negative economic reality of taxing savings and investment.
Who said there is anything wrong with saving? People should save if they can afford to. The idea of savings for most is non-existent in America because they barely get by, and to pay more in taxes would basically end the notion, if ridiculously low rates don't already do that.
And no, I don't have to spend my savings and investments here. Chances are, given the blood thirst I see in politics, I won't be doing that here.
Because in the aggregate, savings is invested or borrowed with an interest rate that you are making on the specific instrument. With investment it is the same, in that there is an interest rate paid to you for the monies deposited or "invested" over a period of time.
Who said there is anything wrong with saving? People should save if they can afford to. The idea of savings for most is non-existent in America because they barely get by, and to pay more in taxes would basically end the notion, if ridiculously low rates don't already do that.
And no, I don't have to spend my savings and investments here. Chances are, given the blood thirst I see in politics, I won't be doing that here.
I see you are going to be part of the problem, not the solution. That's the Progressive way!!!!
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