Would a Capital Gains Tax Cut Stimulate The Economy?

[frawin]

I am always amazed at the people who think we should penalize investors that are willing to invest in American industry. Where do people think the Capital comes from to create Companies and the result being Jobs, Goods and Services. Investing in the stock market has it's risks and rewards to the investors and if we penalize the investors with a big capital gains tax the result will be less investing, less jobs, less goods and services. I remember a conversation I had once with a person that obviously thought they knew it all about the Stock Market, Capital Gains and investing, they told me they did not believing in buying, investing in the Stock Market and they felt that investing in Mutual Funds was much better as they weren't listed on the NYSE and their equities weren't sublject to the stock market. It reminded me of the lady I saw in the morning news sometime back, they were asking her what she thought about the Dairy Farmers dumping their milk and trying to push the prices up that way, she answered, I don't care if all of the Dairy Farmers go out of business I buy my milk at the Supermarket. Every single  company in America started from investors putting their money in it to start the company, whether it was a Mom and Pop company or a corporate giant, take away that investment and you will have far less investing and far less jobs.

[frawin]

All this flys in the face of the Clinton administration and the Reagan administration. The first was a productive one for the United States and the latter was repressive. Sales tax would not work; the wealthy would just do their high end shopping elsewhere, taking advantage of the tax breaks overseas. The poor and middle class would be supporting a huge chunk of the tax burden, having to buy locally.

You are obviously not aware of the HIGH HIGH Excise Import tax on goods that are brought into the US by individuals.

[Lookatmeknow!!]

Where does that lady think that the milk in the supermarket comes  from??

[frawin]

Where does that lady think that the milk in the supermarket comes  from??
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Good point.

[dnalexander]

Years ago I would have thought that my Uncle Frank was just trying to make a point by mentioning the lady in the supermarket making that kind of statement. How could that be true? Well I can tell you I have met similar people. I hope you gave here a quick education and told her to take a trip out to a dairy farm.

David

[srkruzich]

All this flys in the face of the Clinton administration and the Reagan administration. The first was a productive one for the United States and the latter was repressive. Sales tax would not work; the wealthy would just do their high end shopping elsewhere, taking advantage of the tax breaks overseas. The poor and middle class would be supporting a huge chunk of the tax burden, having to buy locally.

No the wealthy won't have a tax break overseas. The sales tax plan doesn't negate import export taxes of which is the method of how the government was set up to run in the beginning.  SO if they did go get something oversease then they would be taxed on it when they brought it into the country.

Use tax won't work cause its able to be defeated too easily. 

[frawin]

Realistically looking back I don't think either political party has ever tried to put more tax on the Poor and middle class. When they throw that at each other it is pure political trash being exchanged. Even in the Colonial days the wealthy paid a greater share of taxes both in amount and in percentages. I don't object to paying my fair share of taxes but I do object in paying taxes to help able bodied people who are to lazy to work. If a person has medical disability or limitations, old or young, I don't mind the government taking care of or helping them, in fact I think we should. My greatest dislike is for people to say they should take more from the rich and give to the poor in the term of "wealth redistribution". The rich are rich because they or their families worked hard, invested, took chances, and made their money grow, why is it  right that they should have to give  more to those that didn't work to earn it. America is a land of opportunity, you just have to get out and work for it, every person has an equal opportunity and if they don't want to work for it they should do without. I don't resent the rich, I admire many of them that I have seen, worked for, and know that have made literally Billions of dollars, by working hard, investing right, taking chances and being lucky as well.

[srkruzich]

Realistically looking back I don't think either political party has ever tried to put more tax on the Poor and middle class. When they throw that at each other it is pure political trash being exchanged. Even in the Colonial days the wealthy paid a greater share of taxes both in amount and in percentages. I don't object to paying my fair share of taxes but I do object in paying taxes to help able bodied people who are to lazy to work. If a person has medical disability or limitations, old or young, I don't mind the government taking care of or helping them, in fact I think we should. My greatest dislike is for people to say they should take more from the rich and give to the poor in the term of "wealth redistribution". The rich are rich because they or their families worked hard, invested, took chances, and made their money grow, why is it  right that they should have to give  more to those that didn't work to earn it. America is a land of opportunity, you just have to get out and work for it, every person has an equal opportunity and if they don't want to work for it they should do without. I don't resent the rich, I admire many of them that I have seen, worked for, and know that have made literally Billions of dollars, by working hard, investing right, taking chances and being lucky as well.

You know what its funny.  Here i am i believe that we should cut taxes, In fact eliminate income tax, and implement a sales tax.
Now I am on a fixed income.  I get 13,400 a year.  Barely make ends meet. Yet i am not for taxing the rich like that.  Its rediculous to expect them to pay for everyone.  I know that right now, if we were to remove useless govt agencies like Dept of Ed, NIA, NEA, IRS, Cut the Dept of AG back to dealing with agriculture instead of welfare, cut the EPA to the bare bones, Put in place rules for congress critters that they can't accept payoffs from business, cut out their pork projects, then we would have no need to tax like we do.

[Lookatmeknow!!]

Do you know Frank, you make a very good point.  When I was going to college, alot of my friends didn't have to work, there parents helped them.  I had to work, and I always told my friends that even if I had to work at McD's I would because I had to pay for my own rent and things.  I have worked since I was 13 years old or maybe even before that.  I am also with Dan on the part that there are jobs out there if people would just work.  I worked all types of jobs growing up, and to this day.  There is nothing that wrong with a little hard work.

I also don't mind paying my share of the taxes.  But when my share is given to people that don't work, won't work, have 10 kids that they don't take care of.  That is where I draw the line.

Also, do you know that you don't have to be rich to invest money.  Jeff and I have accounts for ourselves and the girls.  WE have lost money these past few months, but the girls have made a little.  Don't really know to much about it, just that we pay the money and it's taken care of.  We are supposed to be able to use this money when we retire.  I just hope that there is money there when we need it!!!!

[frawin]

ANG, you are on the right track and people that believe like you will make it through this. I have  worked all of my life, have never been without a job and have never drawn unemployment, I still work and I enjoy and  it allows us to give more to Causes and Charities that we like and like what they do, in addition it allows us to help our family if needed. You keep investing, I think the American economy will bounce back if we can just get the energy monkey off of our back. I think you young people are doing it right, you farm, have a rental property, you work and have a daycare center, you are investing for your retirement, I would say you are a great example of young people pursuing the American dream. KEEP ON KEEPING ON.