Listening
Gold Member
- Aug 27, 2011
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So it would seem the market has a way of taking care of things.
Is that correct ?
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OK then lets go back to the tax rate when the US was most prosperous.
The 50s and 60s
Capital Gains tax is a rip-off.
It's a tax on money that already has been taxed and it offers a loophole to millionaires like Warren Buffet. It defeats it's own purpose.
No it isn't. It's a tax on profits, not the principle.
Ok Sparky.
I can tell you've never had an S-Type corp or an LLC.
They're tax-shelters for the rich.
They put all of their profits in their LLC and pay themselves a measley wage which is taxed at the normal income rate, which is usually nothing, then all profits are ether re-invested in the business or only gets taxed at half the rate of everybody else as Capital Gains. It was intended to tax the rich but most of them use it to get around it's intent.
Raising Capital Gains only forces them to cut back or move.