Sactowndog
VIP Member
- Jul 4, 2011
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- #41
1. dividends need to be taxed as ordinary income. Short-sales and derivatives and commodities, and options need to be taxed at even higher/punitive rates.
2. Hedge fund managers need to be taxed at ordinary income rates. They aren't even investing their own money. PLUS Wall, Street needs to have a transaction tax. The object is to provide long-term capital for companies to use to create jobs.
Here is where I think Liberals are wrong....
Corporate income taxes need to be eliminated. This approach will allow US small businesses to grow via their own capital without having to pay income taxes. This also takes care of the double income problem since the tax on dividends would be the first tax...
All returns whether to labor or capital via capital gains or dividends should be taxed at regular income rates. It enables us to collect taxes from local residents getting their return from overseas investiments with no US job impact. It would also slow the cycle of acquiring companies and off-shoring local workers.
Lastly, we should tax net capital outflows by 20%. If a business is exporting capital then they should pay a tax on it. Earn 10B in US revenue and spend or invest 10B in the US and you pay no taxes. Export 2B in capital to China then you pay 20% on the capital export. This would keep capital in the US, keep interest rates lower and increase jobs.