Quote:
Originally Posted by persian54
I know what you mean, but there are flaws I want to let you know about:
The 15% tax on investment income, IMO, is unfair when compared to the regular income 30%+ tax
I know it's like this, but nonetheless, it's unequal
Either make them both 15% or make them both 30%, you get the idea.
OR, make it 30% for those who make multi million profits on stocks.
Why? Cause those people really control the market
Those of us who trade in the thousands to tens of thousands don't affect the market at all
So we should only be taxed at 15%, cause for us to earn money, it's difficult.
For me, if I spend $10k on a stock, I'll be happy with $1k (10%)
Now, if I get taxed 15% on that, it's $150 off my profit, which is a lot for someone like me who only made 1k
Now, if someone made 10% off of 10 mil, that's 1 mil.
15% tax is 150k, which is a lot, but if he has 10mil... he should be fine...
You get what I mean lol
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Yes, of course. I understand what you're saying and I know that in actuality, it isn't too bad for the people who are rolling around in money, but this is really just a short-term fix instead of a long-term solution.
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Originally Posted by Bowser330
Money makes money...I agree with Shy that the impact to the wealthy won't be THAT bad, and "stripped away" is pretty extreme text to use in this context.... The impact is much bigger to the middle class.
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Haha, sorry. Sometimes I like to exaggerate to make my point.
Quote:
Originally Posted by Bowser330
A tax will create little incentive for people to work hard towards wealth??  |
Sure. The Obama Administration wants to take more money from the wealthy to "solve" (this solves nothing, btw) our problems. Ignorant people see this type of behavior and believe that they won't have to worry about making ends meet because our government will just help us get through the hard times. Where will the money come from? The rich, of course!
Just take a look at the typical Obama supporter (you're probably at work, but watch it when you get home):
How do you think that makes wealthy people feel? What about the people who aspire to become wealthy? If I know that I'm going to be heavily taxed, why would I even bother to stay in this country? I'd rather pack my bags and move to Singapore. Furthermore, some may argue that the increased tax is just a little bit, but would this be the final tax hike? When does it end?
Quote:
Originally Posted by Bowser330
The problem with spend reduction is that you will never get the support of the government where the cuts will happen because the people who have the money drum up the votes and contribute to keep the senators and representatives in office. e.g. Farm subsidies, billions goes to these farmers, and there is a REALLY bad accounting of how and why the money is allocated to them. The point is...those wealthy farming families straight up tell the senators and reps that they will get them reelected if they continue to reject farm subsidy spending cuts, if they don't they will lose.
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Sad, but true. Like I was saying the other day, the whole government is full of scammers. Everybody is paying each other off and only looking out for their own best interest. This type of behavior starts at the lowest level and continues all the way to the top.
Quote:
Originally Posted by Bowser330
Do you have examples of other stupid programs?
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Where do I start lol? Who knows how much money the Obama Administration is wasting on the whole Cybercrime Program (I think I mentioned this the other day. Basically, if this stupid idea passes, anybody can go to jail for years if they lie on the internet)... Couldn't this money be put towards better programs? Just look at our school systems. They are failing.
And more recently, the Solyndra loan.... It's not a program, but talk about a bad idea. I think the company lasted less than 6 months before filing for Chapter 11?