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Old 11-18-2011, 08:23 AM
 
Location: Portland, OR
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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
 
4,412 posts, read 3,573,697 times
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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
 
69,360 posts, read 58,594,094 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
 
9,856 posts, read 14,079,358 times
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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
20,003 posts, read 16,647,068 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
8,802 posts, read 8,061,360 times
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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
22,232 posts, read 16,260,728 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
 
4,412 posts, read 3,573,697 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
8,802 posts, read 8,061,360 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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