Posted on 08/30/2015 7:40:31 AM PDT by parksstp
“Pesky facts” like raising taxes on everyone who makes more than 200 grand isn’t anywhere near equivalent to changing the “carrying interest” rate?
Irrational partisan: “Our opponent’s partisans are irrational!”
Don’t see the difference between raising income tax on “the rich,” and closing the LOOPHOLE on paper traders using LOW capital gains taxes to AVOID paying income tax?
Let me explain it.
If I make 100,000 a year, the government TAKES 60% of my income in taxes, (state, local, federal, social security etc...)
If I save money, after paying those taxes, invest it, and make a profit, I SHOULD pay ZERO capital gains. (The compromise is 20%.)
Paper traders, who make their majority INCOME on capital gains, (and aren’t creating jobs, factories, etc) should pay the same rate as any other American. This is not soaking “the rich,” this is closing a LOOPHOLE.
Pat Buchanan said it elegantly in the 90s: “It’s fundamentally unfair that a stock trader on a 100 foot yacht is paying no tax, while the guy serving him drinks is.”
Capital Gains should be ZERO unless you make a GOOD-living trading paper, and it’s the majority of your income. This is common sense, and is not socialist, like POS Biden arguing for a higher rate for high-wage earners.
In the next month you will see Trump’s plan. I believe you’ll see: a simple tax code, lower taxes, and a means of repatriating the trillions being stored overseas. Taxes can be lowered for everyone, AND tax revenue can go up. We can use our tax code as an INCENTIVE for job creation, instead of a tool of the globalists to destroy America.
I like paper-traders, I did it for a while myself as a side gig.
I’d like to see capital gains @ 0 for anyone not making a living trading paper. If trading-paper is your JOB, you SHOULD pay income tax just like everyone else.
It’s not that Trump is evil....as it is that 80% of his Freeper supporters are mindless emotional basket cases with no ability to see any imperfection in the man.
That’s my only gripe. If Trump gets the nomination, I’ve no trouble voting for him. But I will never ever countenance mindless bot followers...OF ANYBODY.
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