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Its not my fault you dont know the difference between income, and wealth.
Show me where I said it was wrong...
I said it has nothing to do with the discussion..
If I ask who the president is, and you respond with the sun keeps the earth warm, did you really answer? I think not, but thats the garbage being posted here To recap, I said the House passed a 2 month bill, while the Senate wanted 1 year. Show me where he proved me wrong..
You actually pretty amusing, instead of admitting you were wrong you begin the double talk.
DEFLECT MUCH?
All YOU need to do is track back thru these posts to YOUR own post where you asked where the US Constitution authorizes taxing WEALTH. I sound you where and you throw garbage at the wall double talk began.
FACT: Congress has the authority to tax wealth.
LOL, you actually think you're talking to someone that doesn't know the difference between wealth and income? Really? Put in simple terms for you wealth is the accumulation of EXCESS INCOME. That my friend is exactly why the working poor have no wealth, the have no EXCESS INCOME.
Still waiting for you to quote me the section of the Constitution which authorizes the federal government to tax wealth?
HERE THIS QUESTION^^^^^
You asked for an answer and I provided it. I know it must be confusing to you so i'll give that answer again.
Article 1 Section 8: The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
There is no economic benefit to taxing investment income different than wages. All throughout the last five decades rates on capital gains and interest have varied widely and there is no empirical evidence to suggest that lowering capital gains rates or having low rates on interest and dividends did anything but lower government revenue from where it would have otherwise been. When rates were high, there were investors willing to risk their money to make more money.
Likewise, it also makes no logical sense that higher taxes on capital gains, interest and dividends discourages investment while higher taxes on wages do not discourage work.
No, that's once by three different tax authorities.
1 x 3 = 3
Quote:
Originally Posted by InformedConsent
Say goodbye to your pension/retirement. Much of that is investment income.
What do you mean? My retirement will be funded by selling the gold and ammo I have stockpiled in a buried schoolbus somewhere in the sandhills.
Quote:
Originally Posted by pghquest
That makes absolutley no sense because investment income is also taxed by state, federal, property, etc
My wages are taxed multiple times, so I prefer that investment income is also taxed multiple times.
Furthermore, my wages are not being inflated by monetary policy, whereas investment income is. So I'm paying a "tax" in the form of higher commodity costs and stagnant wages, while investors are reaping the benefits in the form of higher asset prices and greater ROI. So no, I am not compelled by the whining of these tax-privileged investors.
Last edited by Cletus Awreetus-Awrightus; 01-10-2012 at 08:42 AM..
So... you want others to pay more taxes while you illegally evade paying taxes on capital gains?
correct. that would be great if we could minimize my taxes.
what I'd REALLY like is to be able to borrow unlimited funds from the government at say, 0.1%, and then re-invest that money in government backed securities that pay, say, 4%.
However in the absence of such a scheme, no taxes would be a reasonable consolation prize.
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To recap, I said the House passed a 2 month bill, while the Senate wanted 1 year. Show me where he proved me wrong..
