Capital Gains Tax is Garbage

Amplifier

Banned
Dec 25, 2004
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Someone tell me how capital gains tax makes any sense what so ever. Seems to me, we are taxing one of our most productive citizens in order to pay for short term goals.

Link for people who are unfamiliar with how capital gains taxes work and prefer illustration.


Every farmer knows that plant seeds are most useful when they are used to create more food. What a capital gains tax does is take the business seeds we need to grow our economy and feeds it to the pigeons.

Capital gains tax are nothing more than a way for the politicians to bribe votes out of the citizens but shortchanging their future for short term goals. Research which politicians support increasing capital gains taxes to determine who not to vote for. Remember, capital gains taxes stunt our economic future.

-Amp

p.s. Please limit discussion about ways to defer capital gains tax, I know about most of them, however they cause inefficiency simular to a tax (if not as drastic).
 

IronWing

No Lifer
Jul 20, 2001
69,008
26,887
136
Capital gains should be taxed at the same rate as other income within a particular bracket. It is flat out unethical to tax earned income at a rate higher than unearned income.
 

BoberFett

Lifer
Oct 9, 1999
37,563
9
81
If a poor man can be taxed for investing his time in a company, a rich man can be taxed for investing his money in a company.

The rich don't make their money through salaries. If there were no capital gains tax, the common man would be footing the entire bill.
 

ntdz

Diamond Member
Aug 5, 2004
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Originally posted by: BoberFett
If a poor man can be taxed for investing his time in a company, a rich man can be taxed for investing his money in a company.

The rich don't make their money through salaries. If there were no capital gains tax, the common man would be footing the entire bill.

Are you that stupid? Income is still income, people making money on capital gains would still pay income tax on it...
 

Amplifier

Banned
Dec 25, 2004
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Originally posted by: BoberFett
If a poor man can be taxed for investing his time in a company, a rich man can be taxed for investing his money in a company.

The rich don't make their money through salaries. If there were no capital gains tax, the common man would be footing the entire bill.

It's not a matter of who you tax, it's when.

America has a habit of eating their economic seeds before they grow. Rich people don't sit around and collect expensive items, they reinvest it (at a rate infinity higher than the middle class).

Examples: Warren Buffet, Bill Gates, Ted Turner.

Let the rich create the jobs and the economic growth will be passed down onto the middle and eventually the lower class.

 

IronWing

No Lifer
Jul 20, 2001
69,008
26,887
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The rich invest more because they have more, not due to some rich gene. Trickle down never worked, it's a dead religion.
 

Amplifier

Banned
Dec 25, 2004
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Originally posted by: ironwing
The rich invest more because they have more, not due to some rich gene. Trickle down never worked, it's a dead religion.

3 choices.

1) Let the middle class handle the money. (Suicide considering their spending habits)
2) Let the government handle the money. (Amazing inefficiency)
3) Let the business owners handle the money in a free market. (Modern Hong Kong, America pre-WWI)

Neither one is perfect, but #3 is easily the most efficient. Refer to this chart.
 

IronWing

No Lifer
Jul 20, 2001
69,008
26,887
136
I saw your chart. It is tasteless, sophmoric claptrap. Do you have any valid reason why unearned income should be taxed at a lower rate than income folks work for?
 

Amplifier

Banned
Dec 25, 2004
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Originally posted by: ironwing
I saw your chart. It is tasteless, sophmoric claptrap. Do you have any valid reason why unearned income should be taxed at a lower rate than income folks work for?

Yes. Businessmen invest their money and help the economy. The workers buy things like this, this, and this.
 

Hayabusa Rider

Admin Emeritus & Elite Member
Jan 26, 2000
50,879
4,265
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Originally posted by: Amplifier
Originally posted by: ironwing
I saw your chart. It is tasteless, sophmoric claptrap. Do you have any valid reason why unearned income should be taxed at a lower rate than income folks work for?

Yes. Businessmen invest their money and help the economy. The workers buy things like this, this, and this.


And if they did not buy those things, both they and the wealthy businessman would be screwed.
 

Amplifier

Banned
Dec 25, 2004
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Originally posted by: DaveSimmons
So you're saying that buying goods and services does not help the economy?

Exactly. When the all is said and done our economy is judged on our ability to produce goods, not consume them.

That isn't saying we shouldn't have nice things. Having nice things is the result of a good economy but not the cause.

-Amp
 

Engineer

Elite Member
Oct 9, 1999
39,234
701
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Originally posted by: ntdz
Originally posted by: BoberFett
If a poor man can be taxed for investing his time in a company, a rich man can be taxed for investing his money in a company.

The rich don't make their money through salaries. If there were no capital gains tax, the common man would be footing the entire bill.

Are you that stupid? Income is still income, people making money on capital gains would still pay income tax on it...

No, he's not stupid. If there were no capital gains taxes, the CEO's and higher ups would take their pay in all stock, sell the stock, and profit nicely from the capital gains with absolutely no tax. Sounds fair, right?

You work and pay taxes

They work and pay none

:roll:
 

Hayabusa Rider

Admin Emeritus & Elite Member
Jan 26, 2000
50,879
4,265
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Originally posted by: Amplifier
Originally posted by: DaveSimmons
So you're saying that buying goods and services does not help the economy?

Exactly. When the all is said and done our economy is judged on our ability to produce goods, not consume them.

That isn't saying we shouldn't have nice things. Having nice things is the result of a good economy but not the cause.

-Amp

Huh? Then what good is the capacity to produce that which is not consumed? Why would the wealthy invest in something that won't make them money? People just make excess unsold goods? Businesses sink or swim based on their inventories.



WTF?

 

Moonbeam

Elite Member
Nov 24, 1999
72,400
6,078
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Clearly and obviously the government should not only stop taxing capital gains, they should be taxing workers and doubling or tripling or quadrupling or, well quintupling those gains and maybe more because these great economic engines we have in our business men could then create businesses that could hire 1,2,3,4,5 or times more people and produce so so so so so so much more. Yes the government should give to the productive rich and tax the unproductive poor who should also have their wages kept low so that money too can go to production. We could produce so so so so so much sh!t we could bury the world in goods. Think of it, a Paradise on earth where every time you took a step you would step on somebody's good.
 

Moonbeam

Elite Member
Nov 24, 1999
72,400
6,078
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Originally posted by: ntdz
Originally posted by: BoberFett
If a poor man can be taxed for investing his time in a company, a rich man can be taxed for investing his money in a company.

The rich don't make their money through salaries. If there were no capital gains tax, the common man would be footing the entire bill.

Are you that stupid? Income is still income, people making money on capital gains would still pay income tax on it...

And are you that stupid, I mean, couldn't you just have made this point without calling somebody stupid?

 

Stunt

Diamond Member
Jul 17, 2002
9,717
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Originally posted by: Moonbeam
Clearly and obviously the government should not only stop taxing capital gains, they should be taxing workers and doubling or tripling or quadrupling or, well quintupling those gains and maybe more because these great economic engines we have in our business men could then create businesses that could hire 1,2,3,4,5 or times more people and produce so so so so so so much more. Yes the government should give to the productive rich and tax the unproductive poor who should also have their wages kept low so that money too can go to production. We could produce so so so so so much sh!t we could bury the world in goods. Think of it, a Paradise on earth where every time you took a step you would step on somebody's good.
Hahaha!
Man, your sarcasm is great :thumbsup::D

You should really put a platform out there..."low wages, low taxes for the rich, sending the homeless to the dump"
 

Amplifier

Banned
Dec 25, 2004
3,143
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Originally posted by: Hayabusa Rider
Originally posted by: Amplifier
Originally posted by: DaveSimmons
So you're saying that buying goods and services does not help the economy?

Exactly. When the all is said and done our economy is judged on our ability to produce goods, not consume them.

That isn't saying we shouldn't have nice things. Having nice things is the result of a good economy but not the cause.

-Amp

Huh? Then what good is the capacity to produce that which is not consumed? Why would the wealthy invest in something that won't make them money? People just make excess unsold goods? Businesses sink or swim based on their inventories.

WTF?

What we produce is determined by our demands. But our economy is determined by our ability to meet these demands.

There is a demand for goods and services in Africa, but since their unable to meet these demands we consider their economy to be weak.

 

Engineer

Elite Member
Oct 9, 1999
39,234
701
126
Originally posted by: Amplifier
Originally posted by: Hayabusa Rider
Originally posted by: Amplifier
Originally posted by: DaveSimmons
So you're saying that buying goods and services does not help the economy?

Exactly. When the all is said and done our economy is judged on our ability to produce goods, not consume them.

That isn't saying we shouldn't have nice things. Having nice things is the result of a good economy but not the cause.

-Amp

Huh? Then what good is the capacity to produce that which is not consumed? Why would the wealthy invest in something that won't make them money? People just make excess unsold goods? Businesses sink or swim based on their inventories.

WTF?

What we produce is determined by our demands. But our economy is determined by our ability to meet these demands.

There is a demand for goods and services in Africa, but since their unable to meet these demands we consider their economy to be weak.


So if the burden was shifted more toward the "non investing rich" to pay more taxes and their demand decreased, who would the so called "increased supply" go to?

It's a partnership!

Oh, and I don't believe in the trickle down theory either. Greed at the top keeps it at the top.
 

imported_tss4

Golden Member
Jun 30, 2004
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income is income. It should all be taxed the same, whether is be from capitol gains for from a job. Its the only fair way to do it.
 

Moonbeam

Elite Member
Nov 24, 1999
72,400
6,078
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Originally posted by: tss4
income is income. It should all be taxed the same, whether is be from capitol gains for from a job. Its the only fair way to do it.
Is it fair to be born rich. Is it fair to have a been born with a high IQ and develop no social conscious and devote yourself simply to making money and thereby amass a fortune. We are all part of the matrix. Your wealth is dependent on the society you live in. A wealthy nomad owns only what he can carry, and Trump owns half the world. Think of the accumulation of wealth as a form of cancer with huge tumors all over the place. Taxes are a form of cancer drug that shrinks the tumors and keeps the tumor from self destruction. Or would you prefer to cut the tumor out. A parasite needs to take care of the host and if he is too stupid to see that regulations will ensue. You are a nobody and you would know that if you were completely alone. You live in a world of profound interdependence screaming I me me mine.

 

Amplifier

Banned
Dec 25, 2004
3,143
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Originally posted by: Engineer
Oh, and I don't believe in the trickle down theory either. Greed at the top keeps it at the top.

It's not trickle down theory. It's keeping leeches from slowing down our companies.

 

Moonbeam

Elite Member
Nov 24, 1999
72,400
6,078
126
Originally posted by: Amplifier
Originally posted by: Engineer
Oh, and I don't believe in the trickle down theory either. Greed at the top keeps it at the top.

It's not trickle down theory. It's keeping leeches from slowing down our companies.

All human production will very soon become so complex that it will be designed and run by robots and artificial intelligence. We will then no longer need rich businessmen because the machines will do it for fun. Man will have time to turn his attention to why he hates himself.
 

Engineer

Elite Member
Oct 9, 1999
39,234
701
126
Originally posted by: Amplifier
Originally posted by: Engineer
Oh, and I don't believe in the trickle down theory either. Greed at the top keeps it at the top.

It's not trickle down theory. It's keeping leeches from slowing down our companies.

So if an exec. get all or most of his salary in stocks and turns and sells them, he shouldn't get taxed on the gains?