I just want to know why you are so hell bent on punishing the rich for the sin of being rich. The only motive that makes any sense is envy.
if i were jealous, i wouldve become a plastic surgeon. no. we've gone over this before, the super-rich get off easy because they pay such a lower tax rate on money they make. like i posted earlier, maybe it is better for the economy for the tax rate to be less for cap gains, but, if so, people should stop acting like the rich are getting fleeced. wrt fairness, i dont know of a reason why income should be taxed differently to cap gains. do you?
As I've already said, it's not as easy as more taxes more revenue, less taxes more revenue, less taxes less revenue or more taxes less revenue. In almost all economic graphs, there is a balance between two factors. It's not as if the factors are so crystal clear that more or less of something sends works around a straight line graph. Parabolas are very common in economics. As taxes rise, US revenue goes up until it gets to a point where it is too high and nobody aspires to do anything because hard work does not make the individual any money. Throw in differing opinions on the role of government and tax theory becomes a moving target.
Economics 101: Income in the form of a paycheck from an employer has already been taxed. Capital gains taxes are nothing more the government double dipping.
i got it. if 15 is the place to be-its the place to be. we should just increase the income tax rate for the highest bracket to make up for the low cap gains tax then to make things fair.
To be clear, I have no idea where the number is. I haven't done the proper research or have the proper education in economics. My personal position is that we need to find the right mix to sustain a small government. Plus, I will be paying lots of CG this year and hope to in the future as well. I make no bones about looking out for number one while understanding that the welfare of society in general is one of the most important factors in creating personal wealth.
A 23% sales tax will fly like a lead balloon. The middle class spend a huge percentage of their income on necessities like food, gasoline, rent, cars, etc. The ultra-rich spend a tiny fraction of their income on necessities. You have to tax people on what they make, not on what they spend. Paying their fair share is not punishment. I don't want them to pay 70% again, just eliminate the loopholes that allow them to pay almost nothing. Come on. O'Reilly is a very smart guy, that is obvious to anyone who is paying attention. His trouble is that he knows it and foolishly imagines that the rest of the world is stupid. The problem is that his show is not a "no spin zone", he spins to the right like crazy. And he is not "fair and balanced" either. He is usually interesting and sometimes insightful, but I can't watch him very long because of his inflated ego. He like to hear himself talk and when a guest comes on that is scoring some points, O'Reilly will interrupt them and try to derail their comments, often even cutting them off.
You're right, actually. It should be called the No Bloviating Zone. He cuts guests off when they go off on a tangent. Cavuto nailed him pretty good the other night and O'Reilly didn't cut him off.
but both the middle class and ultra-rich spend. what difference does it make what they spend their money on as long as they spend? i assume the ultra rich spend more than the middle class. if so then the ultra rich would pay more in taxes....isn't that what you want? sounds like you've been reading the fair tax book......
