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Thread: Warren Buffett releases tax figures to GOP

  1. #121
    ThunderCougarFalconBird
    roughdraft274's Avatar
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    Re: Warren Buffett releases tax figures to GOP

    Quote Originally Posted by j-mac View Post
    I stopped reading at this point.

    j-mac
    Good, I wouldn't want you getting a head ache or anything.

    Have a good day dude.
    Quote Originally Posted by TurtleDude View Post
    uh that is so small as to be stupid. Do you want registration? given less than 3% of criminals get their guns from private sales, its pretty much a waste of resources
    **Thirty Minutes Later**
    Quote Originally Posted by TurtleDude View Post
    you are confused. I never denied that many criminals get guns in private sales.

  2. #122
    ThunderCougarFalconBird
    roughdraft274's Avatar
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    Re: Warren Buffett releases tax figures to GOP

    Quote Originally Posted by washunut View Post
    If you don't mind I will take a shot at your question.
    Absolutely dude, shoot away.
    Quote Originally Posted by washunut View Post
    There are all sorts of preferences in the tax code. The logic behind capital gains is that lowers the cost of capital in an economy which relies heavily om investment as our workers are materially higher paid than their competitors in much of the world. Now you may not like that preference as someone else might not like the preference for having a lot of kids ( personal exemptions).

    All of this avoids the obvious issue for both sides of the tax argument. That is we know the tax system is broken but neither side seems willing to review the overall broken system instead uses politics to point to one nutty think or the other.
    Very reasoned, very valid, very logical response. I can see the reason of lowering the taxes capital gains. The people will then use that money, and hopefully reinvest it, adding money to the overall economy. I think it's a valid argument. The exact same thing, however, can be said of any tax really. If we lower the taxes on all businesses to what it is on capital gains then they'll have more to invest, open other ventures, hire employees, etc... the problem is I don't understand why capital gains should be taxed at such a different rate. I see it as income regardless. You could make the case that lowering taxes on them help the economy but that could be said about any tax, and as with any other tax their comes a point where you're getting diminishing returns and somehow we have to finance our country's ability to protect us via a strong military, keep our water and air clean etc. etc.

    Now I'm also perfectly fine admitting that there are areas of spending that need to be trimmed, but at the same time I think we should consider loopholes in the tax code and areas of the tax code that could be revised to gain revenue in a way that does as little damage to the economy as possible.

    In a world where I could do anything I wished like a dictator, I'd maintain current tax rates, and promise no tax increase for three years or so, if I would have came in 2009 like Obama, I would have promised a first term with no new taxes and spending on the infrastructure and stimulus spending to spur job growth. After the economy picks up we look at increasing revenue and trimming budgets. A down economy is a terrible time to do either in all honesty.
    Last edited by roughdraft274; 10-25-11 at 03:23 PM.
    Quote Originally Posted by TurtleDude View Post
    uh that is so small as to be stupid. Do you want registration? given less than 3% of criminals get their guns from private sales, its pretty much a waste of resources
    **Thirty Minutes Later**
    Quote Originally Posted by TurtleDude View Post
    you are confused. I never denied that many criminals get guns in private sales.

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