Easier than banning billionaires
Comments
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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.
Two points here:
1. Every tax policy change in US history has been followed shortly thereafter by increased tax revenue. That’s a function of US economic growth.
2. Capital gains collections doubled between 1985 and 1986 in anticipation of the rate hike. They then “declined” to an amount that was higher than any previous year but 1986 and grew steadily from there.
Don’t quit your day job.
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Mine goes in the basement next to the cheetos
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No but 30 seconds after the announcement, the stock market will drop 2,000-3,000 points, because the valuation of the stock market would be turned upside down. You don’t think there will be massive selling to capitalize on the capital gains tax before the shift to ordinary income? That’s always a great policy plan for any president. You will also see a massive change in investment vehicles, which will create complete chaos on Wall Street. Most of this shift will be towards real estate where people can defer earnings through 1031 exchanges. Any president that allows that will be a guaranteed one term president. Won’t ever happen.HHusky said:
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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Except that didn't happen for Trump's tax cut. Revenues were about flat. And that was with explosive growth in the economy according to our president.RaceBannon said:
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. -
Say you are in the top tax bracket. You have a million dollar investment in the table that is going to be worth $3 million in 10 years.UW_Doog_Bot said:Seems like a solid way to kill capital investment!
There's a reason this idea dies as soon as anyone gets into office.
Currently you'll pay $400k in taxes and take home $1.6 million. If rate went up 40%. You'd take home only $1.2 million.
Your comment suggests you wouldn't do the deal if the tax rate was 40%. And that's exactly why you aren't a business owner. -
Leave it to Hondo to build that strawman. Never disappoints.2001400ex said:
Except that didn't happen for Trump's tax cut. Revenues were about flat. And that was with explosive growth in the economy according to our president.RaceBannon said:
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.
Capital gains tax wasn’t cut in the tax bill. Please try to follow along. -
All taxes are the same to Hondo. Payroll, income, excise, cap gains, they are all "essentially" the same inside of his pea sized brain.MikeDamone said:
Leave it to Hondo to build that strawman. Never disappoints.2001400ex said:
Except that didn't happen for Trump's tax cut. Revenues were about flat. And that was with explosive growth in the economy according to our president.RaceBannon said:
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.
Capital gains tax wasn’t cut in the tax bill. Please try to follow along. -
Wouldn’t it be better to just seize all the Nice shit Rich people have and put it back to the People in a TV Reality Show National Lottery?
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Many such changes are phased in. The ability to defer earnings is already present. This President has started a trade war and shuttered government. But the disruption caused by changing the tax treatment of capital gains alarms you?greenblood said:
No but 30 seconds after the announcement, the stock market will drop 2,000-3,000 points, because the valuation of the stock market would be turned upside down. You don’t think there will be massive selling to capitalize on the capital gains tax before the shift to ordinary income? That’s always a great policy plan for any president. You will also see a massive change in investment vehicles, which will create complete chaos on Wall Street. Most of this shift will be towards real estate where people can defer earnings through 1031 exchanges. Any president that allows that will be a guaranteed one term president. Won’t ever happen.HHusky said:
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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Is this a fucking Hondo alt? Your arguments are a cobbled together mess of fallacies.HHusky said:
Many such changes are phased in. The ability to defer earnings is already present. This President has started a trade war and shuttered government. But the disruption caused by changing the tax treatment of capital gains alarms you?greenblood said:
No but 30 seconds after the announcement, the stock market will drop 2,000-3,000 points, because the valuation of the stock market would be turned upside down. You don’t think there will be massive selling to capitalize on the capital gains tax before the shift to ordinary income? That’s always a great policy plan for any president. You will also see a massive change in investment vehicles, which will create complete chaos on Wall Street. Most of this shift will be towards real estate where people can defer earnings through 1031 exchanges. Any president that allows that will be a guaranteed one term president. Won’t ever happen.HHusky said:
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.
