Real Middle-Income Tax Relief

Mottleydude said:
Oh really? How can one derive income if one doesn't at first produce wealth? Please explain that to me. Son, you have it ass backwards. Those who produce wealth are the most important people to our society. Not that the investor class doesn't play an important part in helping to produce wealth but they are just part of the whole, but the point is, investment alone does not produce wealth. Producing goods and services and exchanging those goods and services for profits are what produce wealth.
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Yeah, that bolded part, while understated, is a big deal. Son. And you need productive income to invest, but you need investments to build wealth and retire. That's why its more important!
 
Democrats are still pussies afraid of their own shadows. Follow Obama's lead and show a spine. He cutting taxes for 95 percent.
What would I cut in government. Seventy percent of the military and dea for starters.
 
Damocles said:
Because they otherwise could not tax the poor and they would be giving up a source of income they depend on to pay the interest on the debt they accrue.
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Thank you. An honest answer at last. So according to Wilton then it's ok to tax the poor/working class but it's not ok tax the investor class. Am I missing something here?
 
Watermark said:
The funny thing about this is that the capital gains tax was originally seperated from the normal income tax so that it could be taxed at a HIGHER rate, because taxing unearned income was considered more just.
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Exactly! I have no problems taxing capital gains at marginal income tax rates but eliminating it? That's just plain insane.
 
Mottleydude said:
Exactly! I have no problems taxing capital gains at marginal income tax rates but eliminating it? That's just plain insane.
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There is no reason to eliminate Capital Gains taxes. You just don't want them punitive so you can encourage people to invest, this helps our economy and makes everybody's lives a bit better. Even if you think it is "more just" to tax people higher on "unearned" income it is necessary to keep them from becoming so high that people are unwilling to invest.
 
Damocles said:
There is no reason to eliminate Capital Gains taxes. You just don't want them punitive so you can encourage people to invest, this helps our economy and makes everybody's lives a bit better. Even if you think it is "more just" to tax people higher on "unearned" income it is necessary to keep them from becoming so high that people are unwilling to invest.
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THIS!!!!!!^
 
Damocles said:
There is no reason to eliminate Capital Gains taxes. You just don't want them punitive so you can encourage people to invest, this helps our economy and makes everybody's lives a bit better. Even if you think it is "more just" to tax people higher on "unearned" income it is necessary to keep them from becoming so high that people are unwilling to invest.
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I whole heartedly agree. I think it is debatable wether unearned income should be taxed at a higher rate than earned income but that doesn't change the fact that it is income and those who make unearned income are no better than the rest of us and should pay their fair share of taxes on that income.
 
Threedee said:
This is why the electors should be appointed by state congresses, and the 17th Amendment should be repealed.

But we could cut the DOD and pull our troops out of Europe.
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I was really just asking a rhetorical question. The difficulty for politicians is that to kill a program that's popular will kill their chances of getting re-elected.
 
Damocles said:
Who cares? Is it the right thing to do, and should we expect leaders to do the right thing?
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Well that's the point. The politicians care. What good is it to them if they don't get re-elected. Doing the right thing is easy when it won't get you booted out of office.
 
I find it quite interesting that no one on the right has come to Wilton's defense on eliminating the capital gains tax. So much for opposing that being "class warfare".
 
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