President Obama forces GM boss Rick Wagoner to step down

Sorry about your friend, Okie. It has ever been so. Good people lose jobs, get sick, etc. Not just in this economy, in any economy.

The question is: do you think it's the government's job to put your friend back in their house or not?

I don' think the government should be in the business of guaranteeing happiness. Just the opportunity to pursue it.

 

I understand what progressive taxing is. My point is, even with the progressive tax rates you're proposing, the gap between the middle class and rich will still increase. Maybe not as much but still by a large amount.

Because investing in stocks is not a necessity for survival as is having a job or owning a business for the middle class person. Since it's not a necessity then there must be a reward potential high enough to overcome the risk factor. The higher the potential reward from investing the more people will invest. By increasing the capital gains tax you are decreasing the reward potential. It's just that simple.

Tax policy should not be based on who deserves what. It should be based on what's best for the overall economy. Emotional thinking has no place when it comes to writing our tax policies. Logic should tell you that a lower capital gains tax is good economic policy especially during the market environment that is occurring now. That same logic will tell you a healthy stock market is good for everyone including the middle class.

 

i think if the govt is gonna bail out the banks then they need to do something to insure that the money goes to helping people that are being f'ed over by those same banks that are sitting on it and not using it to get bad loans and forclosures off the books. if banks would work with families that have a history of doing everything right, then those same families could stay in their homes, keep home prices from falling further, and help stabilize the housing sector. im not saying handouts. im saying work with to restructure loans so people can stay in their homes. and im not saying everyone. if someone bought something that their income wouldnt even cover the mortgage, that was a bad loan in the first place, and part of the greed that got us into this. im saying that those that have excellent credit history and are willing to pay and make things right need to be worked with so they can stay afloat and the banks can keep another forclosure off the books.

it makes no sense to sit on a bailout and keep forclosing on homes, sending home prices further down, and forcing families out of their homes when they are willing to work to keep their homes.

 

this is like saying there is no ban on gay marriage because straight men cant marry each other either.

arent many/most taxes double taxes? sales, cap gains, property

 

The way I look at it is that if one is fortunate enough to have accumulated sufficient wealth to live off the proceeds through a legal and proven method, then good for him or her. The Democrats, however, feel that if someone is getting rich then the system needs to be changed.

 

It is in the formula for GDP. What more proof do you need.

Fair enough. Your statement implies that the W-2 earner carries a larger burden because of the preferred tax rate on the LTCG. That is a non sensical claim. My tax burden is based on my income and its makeup, not my income plus some of the revenue lost because some dude took advantage of the capital gains rate.

Do you think it is coincidence that several economic recoveries were proceeded by tax cuts?

Revenue growth plotted against the economy is not a good metric. Revenue will almost always grow during economic expansion.

 

On the surface, I would agree with you. However, you're talking about taxing money they make off of money they ALREADY paid taxes on in most cases (ignoring special savings like IRA's and HSA's).