danielpalos
Diamond Member
- Jan 24, 2015
- 73,961
- 5,055
Simple; Only our federal Congress can pay the debts and provide for the common defense and general welfare of the United States.While I understand the benefits of the tax break, doesn't the tax break of that type constitute social spending that is not being spent on promoting the general welfare but merely bottom line issues of Persons of Capital.A tax break on investment to create jobs for the People is Only legitimate social reason for the capital gains distinction.So, if the private sector doesn't want to invest to create jobs, why do they need a special tax rate called, capital gains that is not taxed as ordinary income?
Full employment/part-time employment should correlate to full and part-time jobs availability.
Why don't our elected representatives to federal government become as fond of micromanaging those tax rates are they are regular income tax codes.
Capital gains is a tax that brings in revenue to the government while at the same time, encourages people to invest.
Remember that not all investments create jobs either. A business can invest in a huge warehouse, but only create about three or four jobs for the people that are going to operate that warehouse. Or they may invest in robotics or machinery that requires few if any employees to run them.
Right now there are McDonald's restaurants that are investing in automation in an attempt to have an employee-less store. Sure, there may be a few people there to oversee the operations, but now you have to push buttons on a keypad for what you want and your hamburger is going to be made by machines on an assembly line.
Capital gains is a tax that reaches many people beyond business. For instance, you bought a home 30 years ago for 80K, today it's worth 140K. You made a capital gains of 60K.
As far as a tax break intended for investments, yes, it has been done by George Bush. By allowing more write-offs for business purchases really helped with that economy he had at the time. My employer purchased a whole new fleet of trucks. Our customers were investing in new equipment for their operations. That tax cut put a lot of people back to work.
There is nothing wrong with taking less from people and businesses. After all, how is our money better managed, by government or by individual?
I'll give you a hint: Our US government is 18 trillion in the hole, and Donald Trump is worth 3 billion dollars. Hillary? Forget about it. She's hasn't drove a car in over 20 years.
If you let people keep more of what they earned, they are likely to do better things with that money than government. Look what fracking did for our economy. It lowered the prices of gasoline and natural gas to the point it was sizable amounts for some families. They used that extra money for other things and that helps the economy greatly.