Liberal Media Goes Completely Silent After New Report Proves Trump’s Tax Cuts Were Massive Success

Discussion in 'Political Opinions & Beliefs' started by XXJefferson#51, Jan 30, 2023.

  1. Noone

    Noone Well-Known Member

    Joined:
    Jun 27, 2021
    Messages:
    14,723
    Likes Received:
    8,759
    Trophy Points:
    113
    Yes, yes it is.
     
  2. Bullseye

    Bullseye Well-Known Member

    Joined:
    Feb 7, 2021
    Messages:
    12,915
    Likes Received:
    11,129
    Trophy Points:
    113
    Gender:
    Male
    Believe whatever you want.
     
  3. Noone

    Noone Well-Known Member

    Joined:
    Jun 27, 2021
    Messages:
    14,723
    Likes Received:
    8,759
    Trophy Points:
    113
    How nice of you; I generally do.
     
  4. Trixare4kids

    Trixare4kids Well-Known Member

    Joined:
    Feb 6, 2021
    Messages:
    8,568
    Likes Received:
    11,662
    Trophy Points:
    113
    Only the entitled have-nots or politicians who pander to the entitled have-nots repeat those lies. The smart people know better. :)
     
  5. FAW

    FAW Well-Known Member Past Donor

    Joined:
    Sep 25, 2008
    Messages:
    13,692
    Likes Received:
    4,120
    Trophy Points:
    113
    Sorry for the delay. I had been on vacation.

    1. That "pay for me" line was directed specifically at the person to whom I was speaking. Just as there are many factions within the right, there are just as many on the left. One of those factions on the left is the post-Occupy Wall Street/ Bernie/ borderline Socialist wing of the party that really are seeking wealth redistribution. This gang tends to be rather young. By no means do I see you as being part of that group or was I referring to you when I made that comment. I see you as more of an old-school Liberal.

    2. I think that it is acceptable for Capital Gains to be taxed at a lower rate because it incentivizes investment. I see investment as being the engine of our economy, and anything that encourages/incentivizes investment as being good for the economy. In addition to investment being good for the economy in the short term, in the long term, it is essential for the individual in the new era without pensions. Capital gains taxes future consumption in the form of savings, while present consumption is not taxed at all. By favoring present over future consumption, savings are discouraged, which decreases future available capital and lowers long term growth. I disagree with the notion that the rate does not matter, and that people will invest the same regardless. To me, that is like saying that it does not matter whether investing in the market returns 2% over the long haul or 10%, and assuming that people will still invest the same amount. A higher expected return incentivizes more investing, just as a lower expected return discourages it. A higher capital gains rate without a doubt lowers the expected return on that investment.

    Additionally, capital gains are not actually income. "The capital gains tax is merely part of a long line of federal taxation of the same dollar of income. Wages are first taxed by payroll and personal income taxes, then again by the corporate income tax if one chooses to invest in corporate equities, and then again when those investments pay off in the form of dividends and capital gains. This puts corporations at a disadvantage relative to pass through business entities, whose owners pay personal income tax on distributed profits, instead of taxes on corporate income, capital gains, and dividends. One way corporations mitigate this excessive taxation is through debt rather than equity financing, since interest is deductible. This creates perverse incentives to over leverage, contributing to the boom and bust cycle."

    Personally, I think it is best for the economy with a 0% capital gains rate. This benefits the economy as a whole. I am not concerned that the billionaires benefit to a greater degree than I do. To me, complaining about that is like complaining that the guy in front of you at Bed Bath and Beyond is getting more value out of his 20% off coupon on his $500 purchase, than I am getting with my 20% off coupon for my $10 purchase. It does not occur to me that this 20% off coupon is a nod to the big spenders. My only concern is that I can get 20% off on my purchase. I do not concern myself with how much someone else is saving. I do not see tax policy as being some sort of equalizer. When I see the true net of what the upper 10% pay of all federal income taxes, I see that as the upper paying more than their fair share. If some billionaire is only paying 12% but that 12% equates to $50 million, I do not have a problem with that. In my opinion, they are paying far more than their fair share.
     
    Quantum Nerd likes this.
  6. Zorro

    Zorro Well-Known Member

    Joined:
    Jun 13, 2015
    Messages:
    78,349
    Likes Received:
    52,912
    Trophy Points:
    113
    That's why I support a flat sales tax, say of 25 cents, if that's the level of service Americans state through their representatives that they desire. Then if a Billionaire spends $100,000,000, he pays $25 million in taxes.

    So Much For Billionaires: Joe Biden's IRS Is Now Coming For Waiters And Waitresses' Tips

    [​IMG]
    '...while we have been distracted with rhetoric about billionaires paying their fair share, the Biden Administration's IRS is actually looking to stock its coffers with the tips of waiters and waitresses across the country.'
     

Share This Page