Buffett Rule - Page 5

Sam · #41 04-19-2012, 02:26 PM

Isn't the deduction for mortgage interest discriminatory against those who do not own their own home? and is not this discriminatory in favor of home owners or as they used to be referred to as "the landed gentry"?

Also, isn't our bail bond system discriminatory against those who don't own homes and discriminatory toward those who do own property and who could be considered "the landed gentry"?

Also, isn't allowing a deduction for those who give over a certain amount to charity/church/etc. discriminatory against those who are "church members" versus those who are not?

Dedicated Mind · #42 04-19-2012, 04:33 PM

Quote:

Originally Posted by Pressing-On

Okay, seriously. A down market does effect investment. If the market is down it's difficult to sell new stock and in turn delays businesses from expanding, ie., hiring new employees and buying new product. So, really, a rich person is not able to expand his business and it does also affect his investing just as much as the unwealthy investor. Of course, there are tricks to investing in a down market for either investor.

po, u are pivoting on your argument (been watching too many politicians) first you said capital gains tax causes market to go down. now you are saying a down market effects investment and growth. I agree with your second point. I am arguing against your first point. I am saying there is no relationship between value of stock and capital gains tax because the tax lowers personal income not stock value. U are assuming investors will invest lost income and that stock value will drop because of less investment money. I am saying that stock value is based on profit of company and amount of dividend payed out. Nothing to do with whether investors have more money or not. can you do a little thinking on your own and stop quoting politicians and using their quotes as arguments?

Dedicated Mind · #43 04-19-2012, 04:37 PM

Quote:

Originally Posted by Sam

Isn't the deduction for mortgage interest discriminatory against those who do not own their own home? and is not this discriminatory in favor of home owners or as they used to be referred to as "the landed gentry"?

Also, isn't our bail bond system discriminatory against those who don't own homes and discriminatory toward those who do own property and who could be considered "the landed gentry"?

Also, isn't allowing a deduction for those who give over a certain amount to charity/church/etc. discriminatory against those who are "church members" versus those who are not?

absolutely sam, there is much work to be done. Come join the struggle, Obama needs you.

deafdriscoll · #44 04-19-2012, 04:53 PM

All men are created equal. if this is really true why do the rich pay less taxes than I do. That is not equal. The rich need to man up and pay the same as I do. Some would use scare tactics to bully the normal person around and fantize that the rich would have less to invest which is not true.

Hoovie · #45 04-19-2012, 04:58 PM

Quote:

Originally Posted by deafdriscoll

All men are created equal. if this is really true why do the rich pay less taxes than I do. That is not equal. The rich need to man up and pay the same as I do. Some would use scare tactics to bully the normal person around and fantize that the rich would have less to invest which is not true.

I dare say they don't.

Pressing-On · #46 04-19-2012, 06:35 PM

Quote:

Originally Posted by Dedicated Mind

po, u are pivoting on your argument (been watching too many politicians) first you said capital gains tax causes market to go down. now you are saying a down market effects investment and growth. I agree with your second point. I am arguing against your first point. I am saying there is no relationship between value of stock and capital gains tax because the tax lowers personal income not stock value. U are assuming investors will invest lost income and that stock value will drop because of less investment money. I am saying that stock value is based on profit of company and amount of dividend payed out. Nothing to do with whether investors have more money or not. can you do a little thinking on your own and stop quoting politicians and using their quotes as arguments?

That was actually my limited knowledge and not a quote from a politician.

I don't believe I said anything about Capital Gains Tax affecting stock value. Price and value are not the same thing.

I'm simply making the point that Capital gains affects economic predictability and yield - primarily. An Investor will profit less when Capital Gains diminish yield. And I am simply saying that when increasing capital gains, it will raise the cost of doing business which in turn slows down the rate that an investor will invest.

Currently Capital Gains affects more than we realize. It's not the only tax on capital income. The business you are investing in pays a 35% corporate tax on all income, dividends distributed to shareholders are taxed an individual income, an investor pays Capital Gains Tax on any shares he sells, anything left over at death is taxed again (Death Tax). All these things discourage investment in the United States and cause people to invest in the foreign market. That affects lower wages, lost jobs and a weaker economy in America.

deacon blues · #47 04-19-2012, 10:32 PM

Quote:

Originally Posted by bbyrd009

Seemed to work pretty good in Acts?

That was the CHURCH, not the federal government. And they WILLFULLY shared their goods and possessions. They weren't forced to do it with confiscatory taxation.

deacon blues · #48 04-19-2012, 10:37 PM

Quote:

Originally Posted by Praxeas

Not every rich person is a job creator. A CEO of a company is not going to hire one more person because his pay-check is better...The ability to hire is not based on how much a CEO makes but how much the Corporation makes

Some Actor or Actress making Millions is only supporting the economy by spending their millions on expensive cars and other things. About the best we can hope for is they hire a house servant that is not an illegal. Even that is hardly "creating jobs"

Most companies reinvest the company profit after paying off debt like employees including CEOs/Owners. So it's not every day that millionaires are investing their own money in job creation directly or reinvestment into the company to hire more.

70% of all jobs created in USA come from small businesses. Obama's taxing of those making 250K or more is stupid

Dedicated Mind · #49 04-20-2012, 12:06 AM

deacon. u should really give credit to wiki instead of quoting whole paragraphs verbatim and having people think you can quote all the economic stats under reagan.

deacon blues · #50 04-20-2012, 05:20 AM

Quote:

Originally Posted by deafdriscoll

All men are created equal. if this is really true why do the rich pay less taxes than I do. That is not equal. The rich need to man up and pay the same as I do. Some would use scare tactics to bully the normal person around and fantize that the rich would have less to invest which is not true.

In 2010 there were 8,274 persons in America who made $10 million or more. Their total combined incomes equaled $124 billion dollars. If you taxed all of those people at a 100% tax rate it would be enough money to run the federal government for 18 days.

So tell me, does the government really need more money? Or is the federal government, not the rich, not the middle class, not anybody, the one who needs to do with less money.

The class warfare stuff is asinine. Our fellow Americans aren't the enemy. The over bloated, top-heavy, wasteful, intrusive federal government is the enemy.

Using your rationale, if all things are equal, why do the wealthy pay 70% of all taxes and 50% of Americans pay ZERO?