You Could Make an Argument for Higher Capital Gains Tax

[pal_of_poor]

I hear so many offended when you talk about throwing capital gains in with ordinary income, rather than them being excluded from both FICA taxes, and only paying 15 percent in federal capital gains taxes.

Hell, in truth though, these people, usually the very richest few percent, who buy stock, and then hold it for decades, never paying a penny in taxes on the money they've earned, never pay each year. They get to keep the profits, the stocks split sometimes, they get the tremendous advantages of compounding over the years, especially the compounding of the tax money they don't pay all along.

I find it interesting too, that interest income is taxed, and I can only surmise that these CD and treasury bonds and bills, are more ordinarily owned by the poor, who usually take more of the less dangerous investments.

So, after sometimes decades of living off this compounded government largesse of not paying taxes on the increases of your investments (and that's OK by me, but) I'd say that people who earn money by investing their money in the market should at least have to have their taxes indexed in the same category of federal income taxes, thrown in with the rest, if not having to actually pay more in taxes than people who earn over 360,000 dollars a year.

Buuuuutt, that'd be too much like right, to actually try to recoup some of those earnings from the government largesse of allowing them to go untaxed year, after year, after year.

By the way, higher capital gains taxes, especially on the higher income people with more stocks, keeps the markets more stable too, and less able to be "churned" by day trading.

 

[WillowTree]

are you going to do something about charlie rangel?

 

[Contumacious]

You Could Make an Argument for Higher Capital Gains Tax

IN CONGRESS, JULY 4, 1776

The unanimous Declaration of the thirteen united States of America


When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.


.







.[/QUOTE]

 

[pal_of_poor]

are you going to do something about charlie rangel?

Why do you ask?

Does Charlie Rangel not support a higher capital gains tax percentage? It seems like something he'd support.

Anyway, I don't speak for others, I make up my own mind, and I'd rather have the rich taxed more, to prevent the poor and middle class from continuing to take on ever larger sales, gas, state, FICA, tolls, utility, property taxes, and fees, and taxes from tickets and fines.

Always remember that if you campaign for tax cuts for millionaires, when we are going further into debt each year, you are going to end up having your own taxes raised. It is the middle class, or the super rich, and I vote for the super rich to pick up some taxes.

After all, they've tripled their incomes in the last forty years, so they've got the bucks to be able to afford it.