Comments on: TAXES: Baird’s right on taxing capital gains http://blog.thenewstribune.com/letters/2012/02/06/re-taxes-bairds-naive-about-taxes/ Your views in 250 words or less Thu, 27 Sep 2012 23:31:47 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: swmpr http://blog.thenewstribune.com/letters/2012/02/06/re-taxes-bairds-naive-about-taxes/#comment-202994 swmpr Thu, 09 Feb 2012 06:18:53 +0000 http://blog.thenewstribune.com/letters/?p=39891#comment-202994 Sandblower. How many people do you think make $20,000,000 after tax? And you propose taxing any income over $200,000 at a 50% rate. And how much are you willing to pay? Are you willing to pay your fair share? The 45% of the households that don’t pay any income taxes don’t pay their fair share for the services the government provides for them. I am tired of listening to people rail against the 55% of the households that cover all of the costs for the government.

]]> By: sandblower http://blog.thenewstribune.com/letters/2012/02/06/re-taxes-bairds-naive-about-taxes/#comment-202991 sandblower Thu, 09 Feb 2012 05:35:25 +0000 http://blog.thenewstribune.com/letters/?p=39891#comment-202991 And swmpr, why does anyone need an after tax income of $20,000,000 if all it is is income used to support their lifestyle?

]]> By: swmpr http://blog.thenewstribune.com/letters/2012/02/06/re-taxes-bairds-naive-about-taxes/#comment-202980 swmpr Thu, 09 Feb 2012 04:36:16 +0000 http://blog.thenewstribune.com/letters/?p=39891#comment-202980 When they lowered the tax rate on capital gains from 28% to 15% the government saw an increase in capital gain tax revenue. Why? If I make $1000 on some stock and I have to pay 28% I only have $720 to reinvest. I need a 38% increase to get back to $1000. I have to think long and hard about selling the stock and taking the gain against holding on to it and seeing if it won’t go up more. At 15% i still need a 17.6% increase to get back to $1000 but that is easier to do.
People that invest in stock, land or real estate take a gamble on whether or not they will make money. They can deduct their losses but only against their gains except for the first $3000. If people and business didn’t invest in stocks there would be no business because there would be no capital to fund them.
We focus on the rich and berate them because they are successful. I tend to think it is more jealousy that they did better than we did and we want to see them penalized. Should the tax rate go up as incomes do? Yes. Should they be onerous? No.
The whole tax code needs to be rewritten. Why should a couple with 1 child that makes $35,000 a year and has $2000 withheld get a $4500 refund. When did the tax code become a social program. Give them their $2000 back and let other government programs determine what other assistance they need.

]]> By: MadTaxpayer http://blog.thenewstribune.com/letters/2012/02/06/re-taxes-bairds-naive-about-taxes/#comment-202962 MadTaxpayer Thu, 09 Feb 2012 02:10:58 +0000 http://blog.thenewstribune.com/letters/?p=39891#comment-202962 It is not the Govt’s money! It is my money! I don’t care how it is earned, it does not belong to the Govt. Leave it alone!

]]> By: concernedtacoma7 http://blog.thenewstribune.com/letters/2012/02/06/re-taxes-bairds-naive-about-taxes/#comment-202789 concernedtacoma7 Wed, 08 Feb 2012 01:08:04 +0000 http://blog.thenewstribune.com/letters/?p=39891#comment-202789 Nope, he is shrinking the primary role of the fed govt, not all crap added by libs over the last 100 years.

]]> By: muckibr http://blog.thenewstribune.com/letters/2012/02/06/re-taxes-bairds-naive-about-taxes/#comment-202771 muckibr Wed, 08 Feb 2012 00:17:28 +0000 http://blog.thenewstribune.com/letters/?p=39891#comment-202771 con7, “Now, shrink govt…”

And, President Obama is trying to do that very thing by a Reduction In Force in the military, and also proposing that some cabinet level agencies be consolidated to reduce duplication of effort and cost.

So, now you can vote FOR President Obama right con7?

]]> By: concernedtacoma7 http://blog.thenewstribune.com/letters/2012/02/06/re-taxes-bairds-naive-about-taxes/#comment-202767 concernedtacoma7 Wed, 08 Feb 2012 00:12:20 +0000 http://blog.thenewstribune.com/letters/?p=39891#comment-202767 Good, so we all agree that everything is taxed too much. Now, shrink govt and introduce a flat tax. Perhaps a 1% sales tax to make up for cash only, off the book deals (i.e. illegal activity/drugs).

]]> By: beerBoy http://blog.thenewstribune.com/letters/2012/02/06/re-taxes-bairds-naive-about-taxes/#comment-202735 beerBoy Tue, 07 Feb 2012 22:06:01 +0000 http://blog.thenewstribune.com/letters/?p=39891#comment-202735 The “taxed-twice” mantra is absurd and could be employed in every situation:

A business pays B&O and sales taxes on items and then pays taxes on wages to employees who pay taxes on income and then pay sales taxes on items they purchase from businesses that pay B&O taxes and payroll taxes on wages they pay to employees who pay income taxes and sales taxes on items they purchase…etc, etc, etc.

]]> By: sandblower http://blog.thenewstribune.com/letters/2012/02/06/re-taxes-bairds-naive-about-taxes/#comment-202683 sandblower Tue, 07 Feb 2012 18:19:44 +0000 http://blog.thenewstribune.com/letters/?p=39891#comment-202683 chile74, we are talking about capital gains not dividends. Sometimes a stock goes up for no apparent reason and sometimes it falls too. A stock’s price does not reflect day by day how profitable it is. The price does reflect what the expectations are.

]]> By: xring http://blog.thenewstribune.com/letters/2012/02/06/re-taxes-bairds-naive-about-taxes/#comment-202679 xring Tue, 07 Feb 2012 17:49:35 +0000 http://blog.thenewstribune.com/letters/?p=39891#comment-202679 Back to Taxing Capital Gains.
If one buys the logic that capital gains should not be taxed at the individual level because they have already been taxed at the corporate lever you must also accept that all wages SHOULD NOT be taxed at the individual level because the employer has already paid taxes on it.

]]>