Commanders Post at The Warpath  

Home | Forums | Donate | Shop




Go Back   Commanders Post at The Warpath > Off-Topic Discussion > Debating with the enemy

Debating with the enemy Discuss politics, current events, and other hot button issues here.


Whats Fair When it Comes to Taxes?

Debating with the enemy


 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
Old 02-06-2012, 11:13 PM   #22
GMScud
Swearinger
 
GMScud's Avatar
 
Join Date: Sep 2006
Location: Washington, DC
Posts: 12,626
Re: Whats Fair When it Comes to Taxes?

Quote:
Originally Posted by mlmpetert View Post
Im honestly not trying to be a dick, but i dont understand your comment. Forget carried interest for a minute thats a different issue, the author is speaking from a boarded view on long term capital gains in general.

Ive read before the reason Capital Gains are taxed at a lower rate is because they have effectively already been taxed. Non-speculative long term equity ownership can/should be thought of as ownership on a firms future profits. Long term increases in the price of a stock are primarily driven by earnings. Speculative or short term equity ownership is not thought as an ownership of future profits and that is why its taxed at higher ordinary income rates.

Since the firm is already taxed at the corporate rate taxing profits made from capital gains is effectively double taxation. This is from the taxman himself:



Corporations
In 2008, Obama was asked if he would still support a raise in the capital gains tax rate, even if it meant a decrease in government revenues. He said "yes," in the name of "fairness." Well that's just spreading it around for the hell of it. And isn't the intended effect of the Buffet Rule to raise the capital gains tax rate?

I think Mitch Daniels explained it pretty well in his State of The Union rebuttal. To get the rich to contribute more, you don't raise taxes- slowing economic growth. Gotta have tax reform. Close those loopholes from which the rich benefit so much, and means-test entitlements so the benefits of which are going to those who need it most. Makes sense I think.
__________________
Tardy
GMScud is offline   Reply With Quote
 


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -4. The time now is 12:35 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, vBulletin Solutions Inc.
We have no official affiliation with the Washington Commanders or the NFL.
Page generated in 0.84763 seconds with 11 queries