The Injustice of Obama raising the capital gains tax

[Procrustes Stretched]

...coming down the pipe.

"In 1963, there was virtually no deficit and the top tax rate was 91 percent for income over $400,000," he wrote. "Today, the annual U.S. deficit is nearly $1.5 trillion and the top tax rate is 35 percent for income over $372,500." Edward M. Kennedy Jr. calls on McMahon to pull JFK ad - BostonHerald.com

 

[boedicca]

Here's why raising the capital gains rate is stupid: it inhibits job creation.

Our biggest problem as a country right now is creating a climate favorable to investment, economic growth, and the resulting job creation from the two former.

The inane class warfare of punishing Upper Middle class people and small business honors on some quest for equality of outcome is cultural suicide.

 

[The Rabbi]

Here's why raising the capital gains rate is stupid: it inhibits job creation.

Our biggest problem as a country right now is creating a climate favorable to investment, economic growth, and the resulting job creation from the two former.

The inane class warfare of punishing Upper Middle class people and small business honors on some quest for equality of outcome is cultural suicide.

Cultural and economic suicide.

 

[boedicca]

...coming down the pipe.

"In 1963, there was virtually no deficit and the top tax rate was 91 percent for income over $400,000," he wrote. "Today, the annual U.S. deficit is nearly $1.5 trillion and the top tax rate is 35 percent for income over $372,500." Edward M. Kennedy Jr. calls on McMahon to pull JFK ad - BostonHerald.com

$400,000 in 1963 Dollars is the equivalent of $2,853,750 2010 dollars (which, for those of us with MATH sKillZ, is more than 11 time Obama's defnition of Rich at $250,000 and 7.66 Times the level quoted by EMK Jr.).

There were also features in the tax code that created write-offs and exemptions for the eensy number of people who made that level of income back then.

 

[8537]

...coming down the pipe.

"In 1963, there was virtually no deficit and the top tax rate was 91 percent for income over $400,000," he wrote. "Today, the annual U.S. deficit is nearly $1.5 trillion and the top tax rate is 35 percent for income over $372,500." Edward M. Kennedy Jr. calls on McMahon to pull JFK ad - BostonHerald.com

$400,000 in 1963 Dollars is the equivalent of $2,853,750 2010 dollars.

So shall we emulate Kennedy and raise the TMR on income above 2,853,750 to 70%? Is that what Mcdipshit was suggesting?

 

[The Rabbi]

"In 1963, there was virtually no deficit and the top tax rate was 91 percent for income over $400,000," he wrote. "Today, the annual U.S. deficit is nearly $1.5 trillion and the top tax rate is 35 percent for income over $372,500." Edward M. Kennedy Jr. calls on McMahon to pull JFK ad - BostonHerald.com

$400,000 in 1963 Dollars is the equivalent of $2,853,750 2010 dollars.

So shall we emulate Kennedy and raise the TMR on income above 2,853,750 to 70%? Is that what Mcdipshit was suggesting?

Demonstrating your fine reading and analytic skills yet again.

 

[boedicca]

Here's what the Class Warfare morons don't understand: There aren't enough Really Rich people to tax at excessive levels to generate the tax receipts Big Government wants to collect and spend. Hence the game of inflating the currency and defining down the level deemed rich in order to sweep more and more of the middle class into high tax rates. Want proof? The AMT designed for "millionaires" is estimated to impact 25 million taxpayers this year due to lack of indexing for inflation.

Under Obamanomics, the combined marginal state, local, and federal tax rates will be approximate 50% in quite a few high tax states. If they get rid of the ceilings for SS, it will shoot past 50% in additional states. When the productive sector has over half its earnings seized by the government, we are no longer a free society.

 

[KissMy]

This tax is Modern Day Slavery. You will never be able to buy your freedom because your savings will be taxed or devalued to nothingness.

 

[snjmom]

When exactly are we expecting a 14% inflation rate? Most of the current prognosis I see are trying to avoid deflation. And how shitty is an investment that doesn't gain anything other than the inflation rate?

 

[Procrustes Stretched]

This tax is Modern Day Slavery. You will never be able to buy your freedom because your savings will be taxed or devalued to nothingness.

hahahahahahahahahahahahhaahahahahaha......... the rich are being enslaved. hahahahahahahahahahahahaha...............

.

 

[Procrustes Stretched]

...coming down the pipe.

"In 1963, there was virtually no deficit and the top tax rate was 91 percent for income over $400,000," he wrote. "Today, the annual U.S. deficit is nearly $1.5 trillion and the top tax rate is 35 percent for income over $372,500." Edward M. Kennedy Jr. calls on McMahon to pull JFK ad - BostonHerald.com

waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah, poor stupid people crying over rich people being taxed because they hate the black President. waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah....

 

[KissMy]

When exactly are we expecting a 14% inflation rate? Most of the current prognosis I see are trying to avoid deflation. And how shitty is an investment that doesn't gain anything other than the inflation rate?

The average saver makes less than the inflation rate on investments. Indexing the capital gains tax would prevent this abusive tax from most Americans saving for retirement. They should also exempt the first $100k above inflation rates to prevent double taxing these savers & small business. The rich bankers, investors & broker dealers who make more than $100k on arbitrage are the ones who need to pay this tax.

 

[AquaAthena]

YouTube - Indexing the Capital Gains Tax to Protect Taxpayers from Inflation

And teaching how it will really (in a lot of cases) be a 100% or more tax on capital gains.

Then liberals have the nerve to wonder why businesses aren't hiring when they know this and other things that will hurt business and investers is coming down the pipe.

Liberals argue that this will only affect 3% of small businesses. Do they know that that amounts to over 750,000 [seven hundred and fifty thousand] small businesses, and golly gee whiz, I wonder how many employees would be out of a job and living where this government wants them, powerless and on the dole.

 

[Ravi]

When exactly are we expecting a 14% inflation rate? Most of the current prognosis I see are trying to avoid deflation. And how shitty is an investment that doesn't gain anything other than the inflation rate?

The loons must have their dreams.

 

[8537]

The average saver makes less than the inflation rate on investments. Indexing the capital gains tax would prevent this abusive tax from most Americans saving for retirement.

Interesting idea, removing the inflation tax from capital gains.

 

[teapartysamurai]

I'm not sure how you can be taxed 100%, turd.

Because you have no intelligence that's why.

It's very EASY to understand if you OPEN YOUR MIND to reality.

If you buy a stock at 5,000 dollars in 2000, and sell it in 2010 for 6,000 (but with inflation you really lost money).

You lose money, thus they are taxing 100% of the suppsed "gain." Watch the video.

 

[teapartysamurai]

I'm not sure how you can be taxed 100%, turd.

being brain dead probably would be helpful in following her line of "reasoning"

Brain dead people are the ones not watching the vide and shooting their mouths off anyway.

That much is pretty obvious.

 

[8537]

I'm not sure how you can be taxed 100%, turd.

Because you have no intelligence that's why.

It's very EASY to understand if you OPEN YOUR MIND to reality.

If you buy a stock at 5,000 dollars in 2000, and sell it in 2010 for 6,000 (but with inflation you really lost money).

You lose money, thus they are taxing 100% of the suppsed "gain." Watch the video.

That's a fundamental (and elementary) misunderstanding of what's happening here.

Let's say you invest $5,000 in 2000. You made a decision to allocate $5,000 in 2000 towards what you believe to be the most productive place (you could have put it into TIPS and never worried a wink about inflation, right? Right.)

Ten years later, the total value of that investment has grown to $6,000. You now have an investment worth $1,000 more than you paid for it. That's a capital gain of $1,000 - And that $1,000 is paid to you in 2010 dollars.

And you are assessed a tax on the realized gain - in this case, a tax of $150. You are paying a tax of 15% on the realized 2010 gain. You walk away from this transaction with $850 more dollars than you started. The fact that you chose an investment that does not grow as fast as inflation isn't relevant. What's relevant is that you now have $850 more than you would have in 2010 if you invested the money in a box underneath your bed.

 

[AquaAthena]

Here's what the Class Warfare morons don't understand: There aren't enough Really Rich people to tax at excessive levels to generate the tax receipts Big Government wants to collect and spend. Hence the game of inflating the currency and defining down the level deemed rich in order to sweep more and more of the middle class into high tax rates. Want proof? The AMT designed for "millionaires" is estimated to impact 25 million taxpayers this year due to lack of indexing for inflation.

Under Obamanomics, the combined marginal state, local, and federal tax rates will be approximate 50% in quite a few high tax states. If they get rid of the ceilings for SS, it will shoot past 50% in additional states. When the productive sector has over half its earnings seized by the government, we are no longer a free society.

"We seem to be forgetting that lately -- though Mao Zedong's redistributive failures in China, or present-day bankrupt Greece, should warn us about what happens when government tries to enforce an equality of result rather than of opportunity.

Even after the failure of statism at the end of the Cold War, the disasters of socialism in Venezuela and Cuba, and the recent financial meltdowns in the European Union, for some reason America is returning to a peasant mentality of a limited good that redistributes wealth rather than creates it. Candidate Obama's "spread the wealth" slip to Joe the Plumber simply was upgraded to President Obama's "I do think at a certain point you've made enough money."

 

[Care4all]

I'm not sure how you can be taxed 100%, turd.

Because you have no intelligence that's why.

It's very EASY to understand if you OPEN YOUR MIND to reality.

If you buy a stock at 5,000 dollars in 2000, and sell it in 2010 for 6,000 (but with inflation you really lost money).

You lose money, thus they are taxing 100% of the suppsed "gain." Watch the video.

if you took that $5000, 5 years ago, and put it in a lock box, how much money would you have in 2010 when you opened it????