Quote:
Originally Posted by maxtower
How many times do we have to say "at the margin"? Do I also need to go over the difference between income taxes and capital gains again? A 3% increase in income taxes does make a difference. You're right that it likely won't make a huge difference, but if you are trying to create jobs this tax increase is going to affect the people most likely to do that creation.
If you want to reduce the incentive for certain non-productive activities of the rich, then tax specifically those activities. Don't tax income.
If you want to reduce the deficit, then don't raise taxes on productive activities, reduce defense spending and spend the savings on real stimulus or deficit reduction.
Would you quit with the bull****? I know it runs through your blood like snakes through a Indiana marsh, but quit trying to throw up red herrings that you know don't make much sense.
Let's get one thing straight, the 15% capital gains rate was gifted from the Bush administration to large businesses. We all know that modern industrialization as we know it, the corporate behemoth as we know it, was not built on a 15% capital gains rate. In fact, the 20% capital gains rate of the Reagan introductory years was considered extreme. I’m glad that Obama is as radical as Reagan.
As much as you'd like to, you cannot distort this argument going around in circles saying well this keeps people from opening businesses, blah blah blah. If your using the money TO RE-INVEST IN MORE CAPITAL, YOU DO NOT REALIZE A GAIN, HENCE NO CAPITAL GAINS TAX! TAX SHELTERS 101!
Will you be more likely to open jobs up with an extra one point three trillion in tax relief, sure, are you just as likely to sit on it and do nothing instead of opening jobs up, yes.
The point is, there is enough money in circulation for rich people to do whatever the hell they want. Generations of wealth did not just disappear overnight. Cutting these people’s taxes because IT MIGHT spur job growth, is just idiotic given THE CURRENT ECONOMY.
It is a free lunch, don’t act like it’s anything else.
Last edited by bustowithnobra; 09-27-2010 at 12:22 PM.