A simple economic lesson... raise capital gains to 43% will do what?

[task0778]

All income should be taxed at the exact same rate, whatever percentage that is decided to be. Manual labor or Capital Gains should be the same.

So, a flat tax then, no exemptions, no deductions, and no tax breaks, loopholes, or special treatment for everybody. From the 1st dollar earned to the last, including capital gains, right? I'm okay with that, but I seriously doubt the democrats are.

Research from YouGov [2015] shows that, in principle, many Americans support the idea of a flat tax. 39% of Americans say that they would support a flat tax, 30% oppose it and 31% aren't sure. Democrats (45%) tend to oppose the plan, while most Republicans (59%) and many independents (39%) support it.

Might not be too popular with the workers who don't pay taxes at all right now, around half of the income earners, isn't it? You might wanna rethink your statement, or perhaps amend it.


But here's the real issue, and this is basic economics 101: when you raise taxes on anything you get less of it. Meaning if you substantially raise taxes on investments, which right now is what the capital gains tax is, you get less investing. The greater the hike the less investing, and for any economy that is the kiss of death. Business expansion and startups, innovations and entrepreneurship, and 401ks would all take a pretty big hit and there's a lotta folks out there trying to build a retirement nest egg with a 401k and most of them ain't that rich either.

 

[pknopp]

But here's the real issue, and this is basic economics 101: when you raise taxes on anything you get less of it. Meaning if you substantially raise taxes on investments, which right now is what the capital gains tax is, you get less investing.

That's total B.S. Those who rely on investing as a way to make a living aren't going to start stuffing their mattresses if taxes are raised.

 

[rightwinger]

Capital Gains should be taxed at the same rate as labor

 

[rightwinger]

So, a flat tax then, no exemptions, no deductions, and no tax breaks, loopholes, or special treatment for everybody. From the 1st dollar earned to the last, including capital gains, right? I'm okay with that, but I seriously doubt the democrats are.

Never saw a flat tax proposal where the wealthy ended up paying more and working Americans less

 

[struth]

That's total B.S. Those who rely on investing as a way to make a living aren't going to start stuffing their mattresses if taxes are raised.

those that depend on in investments to make a living moat ordinary income on those cap gains

you realize there was long term cap gains…which has a lower rate, but making a living, short term investments are taxed as ordinary income.

it would help if you dembot cultist had a clue

 

[rightwinger]

If you don’t like paying taxes on your Capital Gains you could always get a real job

 

[pknopp]

those that depend on in investments to make a living moat ordinary income on those cap gains

you realize there was long term cap gains…which has a lower rate, but making a living, short term investments are taxed as ordinary income.

it would help if you dembot cultist had a clue

All should be taxed equally.

 

[struth]

All should be taxed equally.

a flat tax on income? interesting.

but why should we tax income at all? shouldn’t we be encouraging income?

why not tax consumption? those that take the most would pay the most.

 

[jc456]

Because actors and ballplayers bring in ALL THE MONEY.

So do CEO’s

 

[jc456]

LOL how is it strange? What am I suggesting? I'm suggesting that the pay disparity between the average worker and CEO be more in line with other 1st world countries. Pretty simple.

Post 676.

That’s your answer

 

[jc456]

a flat tax on income? interesting.

but why should we tax income at all? shouldn’t we be encouraging income?

why not tax consumption? those that take the most would pay the most.

Exactly

 

[JohnDB]

When taxes are raised companies move out to other countries, investment capital follows.

 

[Deplorable Yankee]

We're already taxed and fee'd to death on everything already....from gas and groceries to income and property ....

How long is the list ?
To long

How much is wasted and pissed away on bloat and bullshit ....way to much ..

 

[JohnDB]

We're already taxed and fee'd to death on everything already....from gas and groceries to income and property ....

How long is the list ?
To long

How much is wasted and pissed away on bloat and bullshit ....way to much ..

The lions share of the Federal government's budget is redistribution of wealth in the form of Social Security, Medicare, Welfare, and Medicaid.
Education, Military, and other things are usually a really small portion of the budget. Huge amounts of dollars by anyone's standards but still just a drop in the budget by comparison of the rest.

We consider Social Security to be a retirement fund....but the way the Government handles it is a joke. Railroad Retirement is better than Social security and those guys get a raise in pay when they retire....(Railroad workers don't pay Social security)
Medicare is also troublesome in that the medical industry and insurance rates have skyrocketed in the past decades.
Which makes Medicaide/welfare costs explode. All those children who have become foster kids are expensive....psychological and medical treatments are exorbitantly expensive.
Then there's the life long mentally handicapped people who get life long payments....including the town drunk and druggie begging out on the street corner.

 

[struth]

If you don’t like paying taxes on your Capital Gains you could always get a real job

i have a real job, that’s why i am able to use my money…that’s already been taxed, to purchase a home. Why do you want to tax me again when i sell it? sorry you are to poor to and lazy to get a home

 

[rightwinger]

i have a real job, that’s why i am able to use my money…that’s already been taxed, to purchase a home. Why do you want to tax me again when i sell it? sorry you are to poor to and lazy to get a home

Your profits haven’t been taxed
That is why you pay Capital Gains

 

[struth]

Your profits haven’t been taxed
That is why you pay Capital Gains

cap gains are taxed

sorry you are such a bum you can’t afford a home..but those is us that do, don’t need to support your lazy lifestyle

 

[rightwinger]

cap gains are taxed

sorry you are such a bum you can’t afford a home..but those is us that do, don’t need to support your lazy lifestyle

I own TWO homes

 

[struth]

I own TWO homes

sure you do…sure hahaha…you don’t even know what cap gains are

living in your moms house and visiting your dads isn’t you owning two homes

it’s just having divorced parents

 

[rightwinger]

sure you do…sure hahaha…you don’t even know what cap gains are

living in your moms house and visiting your dads isn’t you owning two homes

it’s just having divorced parents

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