Obama wants to Raise Taxes, Good or Bad for the Economy?

Canna Sylvan said:

Not producing ourselves, which includes not providing our own labor. The only thing keeping us afloat is their hand, but it won't last if we don't start producing again. It's only a bandaid when they interfere. If the government stopped interfering, where would we get the means to buy?

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Rob Roy said:

The government has kicked the can down the road, the can is dented so bad further kicking may not be a possibility...the fact is "we" aren't afloat..."we" are taking on water BECAUSE of government intervention. Adding taxes does not aid production or startup of production. If the government stopped interfering many things would change in a positive way... but they aren't going to stop until the titanic has sunk. Happy sailing.

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ChesusRice said:

hey Canna
What year was your Dwin hdtv projector made?
What resolution does it have?
How much was it originally?

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beenthere said:

Then I'd be FOS like you, republicans want to extend the tax cuts for every American bro, where ya been, under an MSNBC rock?

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Canna Sylvan said:

Sorry, you're wrong. We import more than we export or sell to our own people. This can't go on forever, and we're already feeling the consequences. Our capital is also being diverted by illegals who work here without paying taxes and then ship those USD back to their own country. This has led us to debt financing and the continuing national debt. This in turn led to our bond rating getting lowered. No amount of regulation free buying is going to save us. We actually need to produce something like we used to be known for. Made in the USA used to mean quality. Now all it means is over-priced stupid buy.

Innovation is being stiffled because we prefer diversity over the most qualified.

Is your new HDTV made by an American company? Do you know any friends who do? Look at how many own one. I actually own a DWIN, American HDTV. I own a Romney owned Denon Blu-ray player. I own a Lumagen video processor made by an Oregon based company. How many people can say that?

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beenthere said:

Along with the rich, there are millions of middle class Americans that have money invested in the stock market, so here's a question I have.
If you had a good portion of your money invested in stocks, mutual funds etc. at the current 15% tax rate and Obama got his way, would you pull your money out before the rate increased to 30%, and do you think thousands if not millions would do the same?

I believe this would be disaster.

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NoDrama said:

When you sell a stock it depends on how long you held it. If you sell it less than a year after you purchased it you owe whatever your individual tax rate is, if you hold it for more than a year you owe the capital gains tax rate of 15%, unless you make no income, in which case the bottom 2 tax rates would owe ZERO% capital gains.

In essence, if you have been making millions of dollars on buying and holding a stock for over a year and then selling it and you have no actual income, then you pay ZERO taxes!!!! People wonder how rich people get off paying so little taxes sometimes and they think a marginal increase in the INCOME tax will cure it. I laugh at those people daily.

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beenthere said:

I think you're a bit confused.
Long term capital gains tax is zero, only if you fall below the 15% tax bracket.
Not quite sure how you can make millions doing this!

Are you saying that my profits from real estate and stocks should I cash in, will not be taxed at a higher rate if Obama raises the capital gains to 30% from the current 15%?

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NoDrama said:

That is exactly my point, up til now you didn't have to pay a tax on your capital gains if you had no income. I can be hard to follow at times, not your fault.

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beenthere said:

Then let me ask you this, if you had a large sum of money invested in stocks and real estate and were faced with a capital gains increase that would negate another 15% of your potential income, would you sell off a large portion of it prior to the tax increase?

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NoDrama said:

Nope, Id put it all into Federal Bonds. Small interest, but none of it is taxable. For now.

On the Real Estate front I would buy apartment buildings using the governments money, then slowly pay them back using amortized funds through depreciation of the property, then I would let the building run down and tell the government to subsidize me for more funds to fix it up, I would use those funds to destroy the property and then ask Government for another loan to develop a green energy solution on the property. Then I would run for political office.

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nontheist said:

LOL that would work, just don't use "hope and change" when running people know its bullshit

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NoDrama said:

I was going to run under the "Belief in a positive outcome while we become different" Slogan.

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UncleBuck said:

zebra dressage people. eyes on the prize.

maybe goat polo, too. without those tax breaks, how are they going to be able to afford to hire midgets for the goat polo?

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