Okay pubs, here's some real 'liberal' policy to rally around

NPT

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Politics and votes and envy and jealousy and elitists who are over educated and underachieved. Punish the “rich”. Pretty sad. 80 percent of millionaires in this country are self made. What message are we sending.....

Eliminate loopholes and impose a flat tax
Just go to communism then everyone is equal (almost all people). Of course they are all poor. 😁 😁 😁
 

Cortez88

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Why can’t we treat income like income? Why should you enjoy lower income tax rates simply because you are wealthy enough to receive capital gains income?
 

mcmurtry66

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Why can’t we treat income like income? Why should you enjoy lower income tax rates simply because you are wealthy enough to receive capital gains income?
There was buzz a few years back about aggressive tax reform, flat rates, etc. what happened? Now it’s dead again
 

NPT

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For stocks and bonds, I have no problem with lower rates. They do help spur the economy. But we know artwork (https://www.moneylaunderingnews.com...anctions-and-launder-money-the-senate-report/) and now bitcoin are being used to launder money. I am not sure why we demand lower taxes on laundered money. That is one reason why some investments need taxed at the normal rate.

The other reason is more simple. Someone can make a million a year off of investment income and have a tax rate far lower than someone making $100,000. Now true, part of that is social security and medicare. But it just doesn't sound particularly fair.
I don't know about artwork, etc but stocks that are not held more than a year are taxed at normal tax rates. And if a person makes over a certain income ($250,000 filing jointly) then there's the extra 3.8% that they add on for the income over the limit.
 

mcmurtry66

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I don't know about artwork, etc but stocks that are not held more than a year are taxed at normal tax rates. And if a person makes over a certain income ($250,000 filing jointly) then there's the extra 3.8% that they add on for the income over the limit.
And it’s not just taxes. It’s our hard earned money being wasted on waste and shitty programs. There’s no stewardship over it. The gov doesn’t account to anyone.

I’m from the gov. I’m here to help....
 
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larsIU

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Eliminate loopholes and impose a flat tax
Would the flat tax be a consumption/sales/VAT tax (Boortz!!!) or an income tax. If the latter, define income. Yes there are loopholes but unless and until "income" is defined to include all money that somehow ends up in one's bank account, full stop, then there will always be "loopholes".
 
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mcmurtry66

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Would the flat tax be a consumption/sales/VAT tax (Boortz!!!) or an income tax. If the latter, define income. Yes there are loopholes but unless and until "income" is defined to include all money that somehow ends up in one's bank account, full stop, then there will always be "loopholes".
Absolutely re all income with your broad def
 

NPT

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Why can’t we treat income like income? Why should you enjoy lower income tax rates simply because you are wealthy enough to receive capital gains income?
You don't have to be wealthy to receive capital gains income. Anyone who invest in stock will/can receive the capital gains tax.

Another thing that people overlook is that we, as a country, have been told to invest in tax deferred accounts (IRA, 401Ks, etc.) and those do NOT receive any tax benefit. They are taxed as normal income when you take the money out.
 

Cortez88

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And it’s not just taxes. It’s our hard earned money being wasted on waste and shitty programs. There’s no stewardship over it. The gov doesn’t account to anyone.

I’m from the gov. I’m here to help....

This comment is every bit as overbroad as saying all anti vaxxers are right wingers.
 

mcmurtry66

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This comment is every bit as overbroad as saying all anti vaxxers are right wingers.
Oh I don’t think Dems are any more wasteful than repubs. Both are wasteful. Just on different stuff. So whoever taxes less I prefer - generally. The problem is in philosophy. Every agency we studied in grad school operated the same. Irrespective of outcomes Agency admin 101 is you NEVER ask for less money.
 

JamieDimonsBalls

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Why can’t we treat income like income? Why should you enjoy lower income tax rates simply because you are wealthy enough to receive capital gains income?

The premise is/was to encourage long-term investments in productive assets. I have no idea how much an elimination of capital gains treatment will impact capital formation, but the U.S. solidified itself as the preeminent capital markets location in the 80s and 90s and that has continued.

It certainly seems unlikely that eliminating capital gains treatment in its entirety is going to be favorable for that momentum.

I'm more curious to see how it affects corporate decision making, as it relates to investments, acquisitions, etc. Our analysts are going to have to work extra hard to maintain valuation expectations!
 

larsIU

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I'm more curious to see how it affects corporate decision making, as it relates to investments, acquisitions, etc. Our analysts are going to have to work extra hard to maintain valuation expectations!
Is it possible (and I don't know) that capital gains rate for businesses and people could be different? Maybe it already is. Like I said, I don't know. If it can be different would it make sense to treat business and people differently or would it just create a whole new can of worms. Like, would every person just incorporate to shield themselves from tax liability?
 

mcmurtry66

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Is it possible (and I don't know) that capital gains rate for businesses and people could be different? Maybe it already is. Like I said, I don't know. If it can be different would it make sense to treat business and people differently or would it just create a whole new can of worms. Like, would every person just incorporate to shield themselves from tax liability?
Jdb can correct me but I believe biz income gets included in income 100 percent. Cap gain is only at 50 percent. I think.

As for the other part llc’s are flow through and immensely popular bc of that and no books etc