Obama wants more taxes, more spending

[bendog]

Natural vs. unnatural? Wealth has become concentrated because we've flooded Wall St. with a gazillion $$.. who'd' people think was going to get rich? Welfare recipients? The middle class?

All the more reason to increase taxes on those rich Wall Streeters' capital gains!!!!!

Maybe the capital gains distinction on income could end whenever we are run massive federal budget deficits.

Sure lets tax cap gains more. That has worked out really well so far. Lowest level of business formation ever.

It doesn't work as intended, anyway, why not generate revenue to meet any exigency?

Raising cap gains rates lowers revenue.

I'm not sure the evidence bears that out. Raising cap gains on long term held investments probably does reduce tax receipts ... and it probably causes money to stay in less productive investments that it other wise would be invested in.

But, I don't recall any unrefuted evidence showing raising cap gains on short term investments would actually reduce receipts.

 

[The Rabbi]

All the more reason to increase taxes on those rich Wall Streeters' capital gains!!!!!

Maybe the capital gains distinction on income could end whenever we are run massive federal budget deficits.

Sure lets tax cap gains more. That has worked out really well so far. Lowest level of business formation ever.

It doesn't work as intended, anyway, why not generate revenue to meet any exigency?

Raising cap gains rates lowers revenue.

I'm not sure the evidence bears that out. Raising cap gains on long term held investments probably does reduce tax receipts ... and it probably causes money to stay in less productive investments that it other wise would be invested in.

But, I don't recall any unrefuted evidence showing raising cap gains on short term investments would actually reduce receipts.

There is no unrefuted evidence of anything. But tax capital you get less of it.

 

[zeke]

I'm not sure the evidence bears that out. Raising cap gains on long term held investments probably does reduce tax receipts ... and it probably causes money to stay in less productive investments that it other wise would be invested in.

While that sounds like something a rabbit would say, think about it bendog.

Cap gains are assessed when you sell the asset and realize the gain. If you have are holding the asset then there is no act to tax. Cap gains are not interest and dividend income.
So yes, holding onto an piece of property for instance, will result in less cap gain income to the Treasury. Raising cap gain rates and people selling assets to realize cap gains will bring more money to the Treasury.

And actually, poor performance in an investment is a good reason to look to move money to a better performing investment. If your investment is performing badly, there will be no cap gains to tax. Maybe a loss to offset some other gains elsewhere.

Which would you rather do; make no money and pay no cap gain tax or make 1000 dollars and pay 150 (long term rate) to the government?

Did you know that people under the 15% tax bracket pay no long term capital gains? And that people in the upper bracket pay 20% already?

 

[zeke]

There is no unrefuted evidence of anything. But tax capital you get less of it.

You are fucking clueless rabbit. You haven't had a capital gain since you were a bunny.
You think there is a difference between "capital gains tax" and "capital"? Do you know the difference?
What different tax rates apply to interest and dividend income vs capital gains rabbit?

If you had 50 million to invest rabbit, would you rather pay ordinary income tax on the interest and dividend income or invest that 50 million in something that would give a nice cap gain and pay 20% tax instead of 39%?

 

[The Rabbi]

I'm not sure the evidence bears that out. Raising cap gains on long term held investments probably does reduce tax receipts ... and it probably causes money to stay in less productive investments that it other wise would be invested in.

While that sounds like something a rabbit would say, think about it bendog.

Cap gains are assessed when you sell the asset and realize the gain. If you have are holding the asset then there is no act to tax. Cap gains are not interest and dividend income.
So yes, holding onto an piece of property for instance, will result in less cap gain income to the Treasury. Raising cap gain rates and people selling assets to realize cap gains will bring more money to the Treasury.

And actually, poor performance in an investment is a good reason to look to move money to a better performing investment. If your investment is performing badly, there will be no cap gains to tax. Maybe a loss to offset some other gains elsewhere.

Which would you rather do; make no money and pay no cap gain tax or make 1000 dollars and pay 150 (long term rate) to the government?

Did you know that people under the 15% tax bracket pay no long term capital gains? And that people in the upper bracket pay 20% already?

Zeke, the only investment you ever made was a case of Blatz and the only return you got was through your mouth from your stomach.
If you hold an asset long term and it appreciates you will hesitate to sell it due to high cap gains rates. If rates are lower then there is less reason to hold it vs investing in a new project.
This is not my opinion. This is actual experience since every time the rate has been lowered revenues to Treasury increased as people cashed in their gains.

 

[ShaklesOfBigGov]

Does this man not get it? We dont need more taxes. We need less taxes. The economy sucks, growth is anemic, wages are stagnant. Why? Uncompetitive tax structure combined with over regulation. Now he wants to double down on stupid, taxing profits made outside this country to fund "infrastructure projects", like payoffs to unions and the like, Im sure. Only good news is it has zero chance of going anywhere.
Obama targets foreign profits with tax proposal Republicans skeptical - Yahoo Finance

Taxes pay for spending you dumbshit. Oh, and revenue as a percentage of GDP is near the historic low. Try educating yourself.

That's right increase those taxes, then when these corporations move overseas you can let us know how well you are doing collecting that revenue. How about we take the restraints off private sector businesses who want to invest and expand, instead wasting taxpayer dollars on poor choices like First Solar and Solyndra who were found to be going bankrupt.

 

[ShaklesOfBigGov]

Defense spending has shrunk as a percentage of the budget to the lowest since before WW2.

Now why isn't the rest of the world bankrupting themselves with their military spending? We just have to many military contractors needing to make billions of dollars. Welfare for the military contractors. Isn't that nice.

Right on cue the far left drones and their wanting to cut only the military..

Why not starve the beast when it comes to social spending for the wealthiest instead of the right, only wanting to end social spending for the least wealthy?

There is no common offense clause nor any general warfare clause; only the right doesn't seem to be able to understand the difference between, not only a welfare-State and a warfare-State, but they also don't seem to be able to understand the difference between the common Defense and the common Offense--only one of those clauses is in our supreme law of the land.

You do realize that the law of the land also states that government is to "promote" the general welfare, not "provide for".

 

[edthecynic]

How about we take the restraints off private sector businesses who want to invest and expand, instead wasting taxpayer dollars on poor choices like First Solar and Solyndra who were found to be going bankrupt.

U.S. Expects 5 Billion From Program That Funded Solyndra - Bloomberg Business

U.S. Expects $5 Billion From Program That Funded Solyndra

by Justin Doom
1:55 PM EST
November 12, 2014

Nov. 12 (Bloomberg) -- The U.S. government expects to earn $5 billion to $6 billion from the renewable-energy loan program that funded flops including Solyndra LLC, supporting President Barack Obama’s decision to back low-carbon technologies.

 

[Billy000]

Does this man not get it? We dont need more taxes. We need less taxes. The economy sucks, growth is anemic, wages are stagnant. Why? Uncompetitive tax structure combined with over regulation. Now he wants to double down on stupid, taxing profits made outside this country to fund "infrastructure projects", like payoffs to unions and the like, Im sure. Only good news is it has zero chance of going anywhere.
Obama targets foreign profits with tax proposal Republicans skeptical - Yahoo Finance

Taxes pay for spending you dumbshit. Oh, and revenue as a percentage of GDP is near the historic low. Try educating yourself.

That's right increase those taxes, then when these corporations move overseas you can let us know how well you are doing collecting that revenue. How about we take the restraints off private sector businesses who want to invest and expand, instead wasting taxpayer dollars on poor choices like First Solar and Solyndra who were found to be going bankrupt.

Corporations will always send jobs overseas if it is cheaper.

 

[ScienceRocks]

How much more can these idiots cut? Seriously???
America s transport infrastructure Life in the slow lane The Economist

Transportation Infrastructure Archives - Taegan Goddard s Wonk Wire

Does this look like it is the cause of the debt??? Really, you want to slash, cut and burn infrastructure, science and r&d! Are you blind?

Tell me how r&d is causing the debt?

http://www.aaas.org/sites/default/files/Budget_0.jpg

 

[ScienceRocks]

Does this man not get it? We dont need more taxes. We need less taxes. The economy sucks, growth is anemic, wages are stagnant. Why? Uncompetitive tax structure combined with over regulation. Now he wants to double down on stupid, taxing profits made outside this country to fund "infrastructure projects", like payoffs to unions and the like, Im sure. Only good news is it has zero chance of going anywhere.
Obama targets foreign profits with tax proposal Republicans skeptical - Yahoo Finance

Taxes pay for spending you dumbshit. Oh, and revenue as a percentage of GDP is near the historic low. Try educating yourself.

That's right increase those taxes, then when these corporations move overseas you can let us know how well you are doing collecting that revenue. How about we take the restraints off private sector businesses who want to invest and expand, instead wasting taxpayer dollars on poor choices like First Solar and Solyndra who were found to be going bankrupt.

Corporations will always send jobs overseas if it is cheaper.

I like the innovation of corporations but you're right...They're all about profit. Government does things that benefit our country without the reality...Sorry, to say the losertrians only care about profit.

 

[ShaklesOfBigGov]

Defense spending has shrunk as a percentage of the budget to the lowest since before WW2.

Now why isn't the rest of the world bankrupting themselves with their military spending? We just have to many military contractors needing to make billions of dollars. Welfare for the military contractors. Isn't that nice.

Right on cue the far left drones and their wanting to cut only the military..

A right wing idiot who supports welfare for the wealthy.
Hey, where in the COTUS does it say HOW MUCH we had to spend on DEFENSE?

And of course Koshy thinks that there are no other countries that have an obligation to provide for the defense of their country. Right Koshy?

Great Britain doesn't defend itself. Right Koshy? France? China?

Koshy how come China doesn't spend 39% of it's GDP on the military? How's come koshy?
How's come we spend 30% more of a huge GDP number when China, also with a huge GDP number spends 9%?

I know. Republican socialism for the ultra wealthy. And China doesn't have a bunch of fucked up Republicans. Nor does GB. Or France. Lucky them.

Hey koshy. maybe we should spend 50% of our money on defense/offense. YOU good with that number? 50%?

Maybe 75% would make us "safer". Fuck it, lets spend 95% on the military. Then we will be the most broke, safest country anywhere. You good with that idea koshy. You scared widdle bitch you.

I don't know Zeke, how many F-22 Raptor stealth fighters does China have in it's arsenal? Do we see any B1-B bombers flying among the French Air Force? Even Isreal is only utilizing F-15E aircraft. Perhaps all that money spent is going towards the United States remaining on the cutting edge of military technology over the rest of the world. Do you know which country developed the longest range bombers of its time, to penetrate deep into the heart of Germany destroying it's manufacturing and supplies to effectively bring an end to the Nazi Regeme? Which country developed the atomic bomb to use on Hiroshima and Nagasaki, avoiding a land invasion that would have resulted in over 30,000 American deaths? Our soldiers are among the best trained military force in the world utilizing the latest in military technology. Perhaps you'd feel more comfortable with a country like France, which stood helpless under the hands of a more powerful German aggressor marching down their streets?