Posted on 08/18/2012 10:46:33 AM PDT by Sub-Driver
If mitt will come out and just say “Unfortunately, my opponent is a pathological liar and wouldn’t know the truth if it bit him on the ass.” I will vote for him. But he has to say it.
I can remember when they didn’t tax interest. Was it Rostinkowski ‘s tax overhaul that added interest tax? Not sure. Anyway, to tax people who only get a few hundred dollars in interest and dividends is just nickle and diming people. Interest and dividends is supposed to be a reward for saving your money.
The best mechanism in the past was coupon bonds. The govt didn’t know, as it shouldn’t know, to whom the interest goes. It had the slight disadvantage that they could be stolen, since your name/SS# was not tied to the interest; however, that was it’s advantage as well.
People often forget the risk involved in all of this, you invest in a business and it is far from a guarantee and the lower the tax rate the more money to be available to invest in businesses and thus more jobs and more tax revenue.
I still remember how bad he told me I had it during his acceptance speech. Now its all rosy and anybody but him is gonna louse it all up!
I can remember when we could deduct interest we paid on our VISA cards.
Interest you paid was deductible too. Taxes keep going up because the political class keep spending and stealing, and we let them.
My brother was a teamster most of his life and I once asked him about the thief Jimmy Hoffa, he said he could steal all he wanted as long as he got his share. I guess that says a lot.
As Breitbart famously said: “SO?”
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