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People who are willing to risk money on investment, are the backbone, in fact, the very foundation of any worthwhile economy. If you have no investment, your economy will grind to a halt and collapse.
Risking money should be rewarded, not punished.
Everything is the backbone of the economy. If the trash man decides to no longer pick up the trash at the company your invested in, it goes out of business. If the delivery man decides to not make deliveries there, you go out of business. etc etc etc.
Nobody is arguing (well maybe perhaps Opin is) for the end of investing.
People who are willing to risk money on investment, are the backbone, in fact, the very foundation of any worthwhile economy. If you have no investment, your economy will grind to a halt and collapse.
Risking money should be rewarded, not punished.
We rewarded risky investments in 2008, if someone wants to risk their money we don't need to provide a taxpayer funded tax shelter at current rates. Do we have a problem with lack of investment money, seem like the 1% can help out if we have a shortage in that regard since they own around 80% of the wealth. Capital gains have been historically much higher but yet investment continued, I think they can survive an increase of a few percent.
People who are willing to risk money on investment, are the backbone, in fact, the very foundation of any worthwhile economy. If you have no investment, your economy will grind to a halt and collapse.
Risking money should be rewarded, not punished.
They are rewarded, with profits. No one is being punished. We all pay taxes. It's the cost of living in a civil society, not punishment.
Explain how any economy works without private investment.
please.
Sure.
The government sits around in Congress and creates a budget. They decide to "overspend" by $X for FY XXXX. That $X is created through reserve banking. Poof.
Government contracts go private companies. The government issues an order to credit the accounts with the contract amount. Poof!
Private Consumption and investment has no affect on GDP, when we examine the set of formulas:
GDP = Federal Spending (the "deficit") + Non Federal Spending (Private Sector Consumption and Investment) + Net Exports
If I invest $10 of my money in your company, that is merely a transfer from my checking account to your checking account. Sounds like you need to brush up on your economics....
Quote:
Originally Posted by nvxplorer
The financial sector is indeed nonproductive. It is the entreprenuer who produces, not the financiers.
Correct.
Quote:
Originally Posted by pknopp
One is debt someone else has to pay off and the other isn't.
False. The government doesn't "pay off" debt.
Quote:
Originally Posted by pknopp
Everything is the backbone of the economy. If the trash man decides to no longer pick up the trash at the company your invested in, it goes out of business. If the delivery man decides to not make deliveries there, you go out of business. etc etc etc.
Nobody is arguing (well maybe perhaps Opin is) for the end of investing.
I am not arguing for the end of investing. It is sad how my clear points get twisted.
Quote:
Originally Posted by pnwmdk
People who are willing to risk money on investment, are the backbone, in fact, the very foundation of any worthwhile economy. If you have no investment, your economy will grind to a halt and collapse.
Risking money should be rewarded, not punished.
Nope. If there was no private sector investment tomorrow, the economy would operate just fine. (Understand how GDP works please).
In 2012, 16% of tax filers claimed capital gain income. The average amount of capital gain income claimed was $ 3,277.
Of these filers 17, 636 had AGI in excess of $500,000.
It has zero chances of passing.
I don't think any reasonable tax reform has a chance of passing, look at the college 529 plans. There is a faction protecting each and every tax credit, any reasonable reform would start with carried interest for hedge fund managers. Maybe 16% of filers qualify for capital gains but the top 1% benefit considerably more. Historically capital gains have been much higher during some fairly good economic periods, this is not that big an impact.
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