As I understand it, and there's a good chance I'm wrong. But you don't pay taxes on capital gains if you make under 200k in general. Which means my investments aren't taxed, your retirement isn't taxed, but Romney and Baym still are. I'd say that's a good start. Now we just need to raise taxes to a suitable and comprable level on capital gains for those who make over 200k.

The irony of setting up an arbitrary 200k limit after all the R bitching about Obama's 150k is not lost on me.

 

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Why?


Romney's plan makes it even worse.


Under Romeney's plan people who get 150k/year in investment income will be taxed ZERO percent. ZERO. Compared to a person who actually works for that 150k, who will be taxed around 30-40% depending on deductions.


It's absolutely perverse. What sort of idiot creates a tax system where you get taxed for working but not taxed at all for having money and sitting there sipping your martini while you watch it pile up even more?

It's not prefect, but I think it's a good option. Not only are investments in business good for America, and more potentially risky than a traditional job, but I don't see a "good" way to not tax people on their retirement plans. I'm willing to be educated/persuaded, but as a low income earner, I'm happy to see any reductions or nullifications on taxes, especially on things that benefit my future.

 

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Investments in business are good if they are good investments. If they are good investments they're good whether or not they get taxed.


It makes absolutely no sense to create a two-tiered tax structure where people who already have money are taxed at lower rates than people who have to work.


Any rational tax system would do the complete opposite. If you're going to use the tax system to subsidize behavior the obvious choice is to tax labor at less than capital growth, not more.


Capital gains is the ultimate proof our country is run by rich people for rich people.


To the extent your retirement comes from investment income it SHOULD be taxed. Like any other income.


If you are worried about fairness the solution is progressive taxation, just like we have for labor income.

Statistics assure that many of the republican/libertarian economic cheerleaders ITT are somewhere between middle class and dirt poor

 

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Unless you are trying to drive away labor...

 

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The real result is that people go to great effort to portray regular work as investment so that they can get better tax treatment.


Few people will refuse to make an investment and stick their money in a coffee can becaue the tax rate is too high.





It might seem counterintuitive, but does a lower tax rate on investment create more investment? Or less?


If you desire to have X dollars in the future, you might invest less if you your return goes from 8% to 9% because of a tax cut. You invest less and spend more of your current income.


As tax rates have plummetted over the last few decades, is America investing more? Or are we spending more?

So when did so many of you f'ing retards drink the kool aid and think being wealthy is somehow wrong? Jesus christ think for yourselves for at least 5 minutes and quit sucking off the socialist talking points.

 

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The tax code needs to be simplified. A flat tax may be a good option.
I don't know if there is much else to say beyond that.

 

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When unemployment is so high, I would think the priority would be on job creation over labor encouragement.

 

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