Easier than banning billionaires
Comments
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Seems like a solid way to kill capital investment!
There's a reason this idea dies as soon as anyone gets into office. -
Right. ‘Cuz nobody is gonna want to make money if capital gains treatment returns to the status it had for decades.
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I'm hearing that taxing cigarettes is an effective way to reduce consumption.
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So if capital gains are taxed as ordinary income, your money goes straight under your mattress. Respectfully, that’s bullshit.UW_Doog_Bot said:I'm hearing that taxing cigarettes is an effective way to reduce consumption.
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In last night’s Democratic presidential debate between Hillary Clinton and Barack Obama, moderator Charlie Gibson and Obama had the following exchange (courtesy of ABC News). Video is available here courtesy of the Say Anything blog.
GIBSON: All right. You have, however, said you would favor an increase in the capital gains tax. As a matter of fact, you said on CNBC, and I quote, “I certainly would not go above what existed under Bill Clinton,” which was 28 percent. It’s now 15 percent. That’s almost a doubling, if you went to 28 percent.
But actually, Bill Clinton, in 1997, signed legislation that dropped the capital gains tax to 20 percent.
OBAMA: Right.
GIBSON: And George Bush has taken it down to 15 percent.
OBAMA: Right.
GIBSON: And in each instance, when the rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down.
So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected?
OBAMA: Well, Charlie, what I’ve said is that I would look at raising the capital gains tax for purposes of fairness.
Fuck off -
You confused me with Barrack ObamaRaceBannon said:In last night’s Democratic presidential debate between Hillary Clinton and Barack Obama, moderator Charlie Gibson and Obama had the following exchange (courtesy of ABC News). Video is available here courtesy of the Say Anything blog.
GIBSON: All right. You have, however, said you would favor an increase in the capital gains tax. As a matter of fact, you said on CNBC, and I quote, “I certainly would not go above what existed under Bill Clinton,” which was 28 percent. It’s now 15 percent. That’s almost a doubling, if you went to 28 percent.
But actually, Bill Clinton, in 1997, signed legislation that dropped the capital gains tax to 20 percent.
OBAMA: Right.
GIBSON: And George Bush has taken it down to 15 percent.
OBAMA: Right.
GIBSON: And in each instance, when the rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down.
So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected?
OBAMA: Well, Charlie, what I’ve said is that I would look at raising the capital gains tax for purposes of fairness.
Fuck off
again. We all look alike, of course. -
No I didn't confuse you at all. You're just as stupid when it comes to tax policy
How is your call to raise capital gains taxes different than calling to raise capital gains taxes?
Revenues go down so it can't be for the deficit. You could tax billionaires at 100% as long as they had money and the government would still outspend it
Your plan is nothing more than some fucktarded idea of fairness just like Obama -
Sorry. Revenues won’t go down if gains are simply taxed as ordinary income, just like wages. I think the Laffer Curve has simply produced confusion for you. Ordinary income tax rates are not now high enough to kill incentives to work and invest.RaceBannon said:No I didn't confuse you at all. You're just as stupid when it comes to tax policy
How is your call to raise capital gains taxes different than calling to raise capital gains taxes?
Revenues go down so it can't be for the deficit. You could tax billionaires at 100% as long as they had money and the government would still outspend it
Your plan is nothing more than some fucktarded idea of fairness just like Obama -
Take it up with actual factsHHusky said:
Sorry. Revenues won’t go down if gains are simply income just like wages. I think the Laffer Curve has simply produced confusion for you. Ordinary income tax rates are not now high enough to kill incentives to work and invest.RaceBannon said:No I didn't confuse you at all. You're just as stupid when it comes to tax policy
How is your call to raise capital gains taxes different than calling to raise capital gains taxes?
Revenues go down so it can't be for the deficit. You could tax billionaires at 100% as long as they had money and the government would still outspend it
Your plan is nothing more than some fucktarded idea of fairness just like Obama
GIBSON: And in each instance, when the rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down. -
I know this is hard for you but this is not a binary equation. Raise rates, investment decreases, gains decrease, and revenue from taxes decrease. No one is saying that it will KILL off investment. JFC.HHusky said:
Sorry. Revenues won’t go down if gains are simply taxed as ordinary income, just like wages. I think the Laffer Curve has simply produced confusion for you. Ordinary income tax rates are not now high enough to kill incentives to work and invest.RaceBannon said:No I didn't confuse you at all. You're just as stupid when it comes to tax policy
How is your call to raise capital gains taxes different than calling to raise capital gains taxes?
Revenues go down so it can't be for the deficit. You could tax billionaires at 100% as long as they had money and the government would still outspend it
Your plan is nothing more than some fucktarded idea of fairness just like Obama
