Increase Ordinary Income Tax Rates or................

I have an opinion. Capital gains increases will hurt capital re-investment so any crafting of the tax needs to take that into consideration. I say if the capital gains are not re-invested in a year period that the remaining gains should be taxed at normal income tax rates the next year or some other defined rate. This would force re-investment or gain tax revenues.

 

I have a better idea, limit investment loss deduction to 20% of investment income, with no deduction allowed at all for short term losses if they can be used to offset any other taxable income. Since most "capital" these days is deployed in speculative gambling in the markets, there is no real argument that taxing this activity at any level will hurt the type of direct capital investment that increases the production of goods and services. It is likely that high taxes on speculative market gambling will encourage more capital to shift to such activities.

 

A dollar is a dollar. No preferential treatment for one person's dollar at the expense of another person's dollar. Capital gains taxes were conceived in gay hell.

 

That's why we need to replace all these messy and inconsiderate taxes with a transaction tax on every dollar that changes hands, so every dollar is taxed the same no matter who spends it. By some estimates a transaction tax of 0.002%, or 2 cents on every $10 would be enough to get rid of all other taxes at all levels of government, pay off the national debt in a few years and provide a huge surplus for the forseeable future.

 

Who the hell cares. This discussion is about spending and the economy. I've dumbed it down for you as much as I can and its obviously still beyond your ability to comprehend. Sorry, I've done all I can.

Quit trying to divert. If you want to ask touchy feely dippity doo questions about about what makes people happy start a thread on it and maybe you'll get some people to indulge you.

 

Since rich people do not 'transact' all that much more than poor people on a day-to-day basis, therein lies your investment cash.

 

You can complain but you can't articulate?? If you can't articulate your root issues, then what the hell are you complaining about?

Instead of your constant political rants which can NEVER be resolved, how about defining a root cause(s) that you believe exists? What is it that all the non-wealthy people need to be happier? If you cannot define the root needs, then this proves all of this nonsense is political BS...


Come on Iriemon! You complain constantly about this but you can't answer the simple question? WHAT IS IT THAT ALL THE NON-WEALTHY PEOPLE NEED TO BE HAPPIER?

YOU believe all the non-wealthy people have been robbed, they pay too much tax, don't get fair financial treatment, etc. but if you cannot articulate the root issues then all of your posts are political BS! If YOUR non-wealthy are suffering so much, then WHAT IS IT that can help them? What do they need?

This is not a diversion; this is common problem solving outside of political BS...

 

Dude, the topic of our discussion or this thread is not what makes people happy, but the economy and taxes.

We've dumbed it down for you just as much as we could, and you still do not have the capability to grasp it. I'm sorry, there is nothing more that I can do.

 

Maybe the rich do not personally move their money around all that much but the people who take care of it for them do, and that is a lot of rich people's money moving around at high velocities. A transaction is a transaction, a stock trade by a mutual fund is just as much of a transaction as buying a slurpee at 7-11 and should be taxed exactly the same, instead of not at all as is currently the case.

 

You're preaching to the choir, my man. The rich folks have (*)(*)(*)(*) near picked my pockets clean, and they are a whole lot more trouble than they are worth.