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In his State of the Union Address on Tuesday, Obama will announce his desire for taxes to be raised on the rich. I've heard it is a 5% increase in the capital gains tax, he will call for. I think nothing is less understood than this subject. Nobody ever seems to be for what I think is the best solution on this.
Instead of raising the capital gains tax (which could retard business development), I think Obama should be wanting to raise the individual tax on the top brackets. Now before Reaganist Republicans start jumping up and down, allow me to explain a few things.
1. Raising taxes on the rich is an extremely popular position. A litany of polls all show Americans being in favor of it, including many Republicans. Obama is crafty enough to know that it is to the Democrats' advantage (and their presidential chances in 2016) for him to advance a popular issue, and have the Republicans show up as the villians who oppose it.
2. One of the prime positions of Conservatives is a strong Homeland Security. But HS isn't cheap. ICE agents, Border Patrol officers, immigration judges, etc need to be hired. Mexican border fence & jails need to be built. More FBI, CIA, CTU, DEA, need to be hired. Electric grid is in jeopardy, as are withering dams, levees, bridges, and other infrastructure vulnerable to terrorist attack. Cybersecurity and cyberwarfare needs shoring up, with America sadly behind the jihad world on this.
3. To neglect these vital national security items puts more talking points (legitimately) in the hands of Democrats, eager to exploit them for the 2016 presidential election.
4. Taxes on the richest Americans in the employee sector (the individual tax) are ridiculously low, relative to rates (70-92%) under 3 Republican presidents, and the public doesn't have a favorable view of this. Few things are more common than hearing movie stars and pro athletes referred to as spoiled brats, who possess multimillion $$$ contracts, just for playing some kids game (ex. baseball), or make believe they're somebody important in movies and TV (while really important people > cops, firefighters, US military, etc, make a tiny fraction, comparatively). Again, Republicans, by opposing tax increases on the (employee) rich, are going directly against the tide of public opinion, at a time when the country badly needs to get out of the grip of ultra-liberal loonieness (if not outright treasonous support for America's jihadist enemy).
http://www.forbes.com/sites/taxanaly...-is-important/
http://www.breitbart.com/big-governm...es-on-wealthy/
http://www.harrisinteractive.com/New...8/Default.aspx
Taxes on the richest Americans in the employee sector (the individual tax) are ridiculously low, relative to rates (70-92%) under 3 Republican presidents, and the public doesn't have a favorable view of this.
Economic illiterates hold many idiotic views.
For instance, in 2008, I saw an idiotic politician say he wanted to raise the capital gains tax, even if that
would result in lower tax revenues. He said he'd do it....for fairness.
Do you agree with that idiocy?
It would NOT result in lower tax revenues. It would result in higher tax revenues.
No, you're the best jerk on the internet. I'm not trolling one iota, and if you call what a I've wrote here, trolling, that only means you know birdshit about politics.The 39.6% tax is the INDIVIDUAL tax, not the capital gains. This the tax that I was saying should be raised.
So, let's be clear about a few things in hopes that the venomous attacks at least attack the true facts instead of invented bullshit.
From what I understand, the tax increase Obama is going to call for is an increase on the highest bracket of income for individuals' long term capital gains income. Currently, short term capital gains are taxed at an individual's normal bracket rate. It's the long term capital gains which are taxed at a lower rate. For example, long term capital gains income is taxed at 20% for the highest bracket, whereas ordinary income would be taxed at 39.6% otherwise. So the upcoming announcement is to increase that 20% to 25% for long term capital gains.
But the overall increase is not actually a 5% increase, due to the progressive system of tax bracketing. The 25% would not apply to all income. Only that portion of income that is in that highest bracket. The highest tax bracket applies to income above $406,749 for the year, to which 39.6% taxation is assessed. If your income on the year is $406,750 you aren't going to be taxed 39.6% on that amount. The 39.6% taxation will only be applied to the $1 which is in excess of the upper limit. Thus, the proposal that Obama is about to make will not raise capital gains tax 5% overall, only those long term capital gains for those portions of income of individuals who exceed the $406,749 level.
Dude, you have to be stoned to "want" to raise taxes right now or in the next 4-6 years. This economy is looking for a reason to tank into another recession. All we need is another market crash and all that takes is a very nasty economic outlook at what creates that outlook is high debt which we have, most of the country unemployed or underemployed or reduced hours, high necessity prices, overvalued stocks to keep the middle class out, and high spending which our governement is doing currently AND the federal reserve and they are separate spending entities.
You are retarded.
No, YOU are retarded. Raising taxes on the EMPLOYEE super rich, has no adverse effect on the economy, whatsoever. All it does is bring the lifestyles of pampered pro sports athletes and movie stars down to normal life.
The second thing it does is create govt jobs, the consumer spending of which then pumps up the economy. And if the govt jobs are the right ones (bldg. Mexican border fence, hiring ICE & CBP officers, creating immigration courts & jails, and enforcing IRCA) then the mass deportation of illegal aliens will help the economy further by eliminating immigrant remittances ($123 Billion/yr), and stopping tax drain to illegal alien families via the anchor baby racket and false documentation.
It will also LOWER the debt by bringing more money into the treasury.
I don't know what your problem is with all this.
Dude, I'm way to smart for this and I know you are trolling and don't believe a damn thing you just posted above. I'm the best troll in the last decade on the internet.
And what I've posted isn't a matter of belief. It's FACT.
And if you really are smart, let's see you post a single reason how hiking the top bracket INDIVIDUAL tax would create any negative effect on the economy. I already did MY job explaining how it would help the economy. Of course, if you'd rather cut & run, you've got that option too.
In his State of the Union Address on Tuesday, Obama will announce his desire for taxes to be raised on the rich. I've heard it is a 5% increase in the capital gains tax, he will call for. I think nothing is less understood than this subject. Nobody ever seems to be for what I think is the best solution on this.
Instead of raising the capital gains tax (which could retard business development), I think Obama should be wanting to raise the individual tax on the top brackets. Now before Reaganist Republicans start jumping up and down, allow me to explain a few things.
1. Raising taxes on the rich is an extremely popular position. A litany of polls all show Americans being in favor of it, including many Republicans. Obama is crafty enough to know that it is to the Democrats' advantage (and their presidential chances in 2016) for him to advance a popular issue, and have the Republicans show up as the villians who oppose it.
2. One of the prime positions of Conservatives is a strong Homeland Security. But HS isn't cheap. ICE agents, Border Patrol officers, immigration judges, etc need to be hired. Mexican border fence & jails need to be built. More FBI, CIA, CTU, DEA, need to be hired. Electric grid is in jeopardy, as are withering dams, levees, bridges, and other infrastructure vulnerable to terrorist attack. Cybersecurity and cyberwarfare needs shoring up, with America sadly behind the jihad world on this.
3. To neglect these vital national security items puts more talking points (legitimately) in the hands of Democrats, eager to exploit them for the 2016 presidential election.
4. Taxes on the richest Americans in the employee sector (the individual tax) are ridiculously low, relative to rates (70-92%) under 3 Republican presidents, and the public doesn't have a favorable view of this. Few things are more common than hearing movie stars and pro athletes referred to as spoiled brats, who possess multimillion $$$ contracts, just for playing some kids game (ex. baseball), or make believe they're somebody important in movies and TV (while really important people > cops, firefighters, US military, etc, make a tiny fraction, comparatively). Again, Republicans, by opposing tax increases on the (employee) rich, are going directly against the tide of public opinion, at a time when the country badly needs to get out of the grip of ultra-liberal loonieness (if not outright treasonous support for America's jihadist enemy).
http://www.forbes.com/sites/taxanaly...-is-important/
http://www.breitbart.com/big-governm...es-on-wealthy/
http://www.harrisinteractive.com/New...8/Default.aspx
Taxes on the richest Americans in the employee sector (the individual tax) are ridiculously low, relative to rates (70-92%) under 3 Republican presidents, and the public doesn't have a favorable view of this.
Economic illiterates hold many idiotic views.
For instance, in 2008, I saw an idiotic politician say he wanted to raise the capital gains tax, even if that
would result in lower tax revenues. He said he'd do it....for fairness.
Do you agree with that idiocy?
It would NOT result in lower tax revenues. It would result in higher tax revenues.
The only people looking to deny and tax the disabled are the Leftytoons."Obama Calling for Tax Increases on the Rich"
And republicans call for tax increases on the middle class, working Americans, retired Americans, and the disabled.
It's more of the same pointless, partisan nonsense.
"Obama Calling for Tax Increases on the Rich"
And republicans call for tax increases on the middle class, working Americans, retired Americans, and the disabled.
It's more of the same pointless, partisan nonsense.
