Thread: Why should capital gains be taxed?

Originally Posted by TurtleDude

having their existence funded by others through government coercion

The rich own the majority of wealth and wield most of the power in this country. Only Mexico and Turkey have greater wealth disparity than the US after 30 years of trickle down economics.

And that is not enough for you??? What incentive does the middle class have to lower their standard of living even further so the wealthy can fatten their pockets even more? How can a consumer based economy thrive without consumers?

Originally Posted by Catawba

The rich own the majority of wealth and wield most of the power in this country. Only Mexico and Turkey have greater wealth disparity than the US after 30 years of trickle down economics.

And that is not enough for you??? What incentive does the middle class have to lower their standard of living even further so the wealthy can fatten their pockets even more? How can a consumer based economy thrive without consumers?

The rich want to own everything that the poor and middle class own, then when they get to that point, they will insist that they will start eating their own, until ultimately there is just one winner, exactly like a monopoly game. Then the game will be over, and we will reset the economy, redistribute everything, and start all over again.

Originally Posted by jambalaya

I have no problem putting some tax on Capital gains but to tax it like it was regular income would discourage investment.

Never happened in the past when capital gains tax rate equaled regular tax rates. And what increased investments in this country has the middle class benefited from for the decade of tax cuts on capital gains?

Originally Posted by Catawba

The rich own the majority of wealth and wield most of the power in this country. Only Mexico and Turkey have greater wealth disparity than the US after 30 years of trickle down economics.

And that is not enough for you??? What incentive does the middle class have to lower their standard of living even further so the wealthy can fatten their pockets even more? How can a consumer based economy thrive without consumers?

If you are going to bitch about it, then you better find a decent ideological argument for why capital gains should be taxed at all, let alone at a progressive rate. As it stands now, the wealthy are winning the ideological discussion by portraying themselves as victims of an envious subclass that wants to use the government to coerce them into paying more than their fair share. The fact that wealth has steadily been redistributed to the wealthy is too cumbersome an argument to make to millions of Americans who vote against their own interests based on the ideological illusion that the poor are the truly advantageous in our economic system. The Occupy movement tried to unite the lower classes together but was hijacked by partisan interests, and the Tea Party is a populist movement initially created to protect the interests of the wealthy.

I have a problem with a tax on labor more then a tax on gains.

Originally Posted by ARealConservative

I have a problem with a tax on labor more then a tax on gains.

A tax on gains is a double tax on labor. You are first taxed on it for the labor that went to earning it and then you are taxed for the interest gained on investing it.

Originally Posted by CriticalThought

If you are going to bitch about it, then you better find a decent ideological argument for why capital gains should be taxed at all, let alone at a progressive rate. As it stands now, the wealthy are winning the ideological discussion by portraying themselves as victims of an envious subclass that wants to use the government to coerce them into paying more than their fair share. The fact that wealth has steadily been redistributed to the wealthy is too cumbersome an argument to make to millions of Americans who vote against their own interests based on the ideological illusion that the poor are the truly advantageous in our economic system. The Occupy movement tried to unite the lower classes together but was hijacked by partisan interests, and the Tea Party is a populist movement initially created to protect the interests of the wealthy.

You are sadly out of touch with the working class if you think they are not acutely aware of the widest wealth disparity in this country since the Great Depression. Pain and suffering have a way of sharpening the senses, so I wager those that think they are "winning the ideological discussion," are going to be in for a real surprise in November, and most likely for a couple of elections beyond that.

Originally Posted by CriticalThought

A tax on gains is a double tax on labor. You are first taxed on it for the labor that went to earning it and then you are taxed for the interest gained on investing it.

Thi was covered and debunked many times over already. Actually, you do so in your own post.

Originally Posted by CriticalThought

A tax on gains is a double tax on labor. You are first taxed on it for the labor that went to earning it and then you are taxed for the interest gained on investing it.

Thank you for repeating the myth of double taxation. You are not taxed again on the portion you already paid taxes on. You are only taxed on the previously untaxed profits from your initial investment, just like any small business out there who is not taxed on their business expense, but are taxed on the profits from their business.

Originally Posted by Catawba

Thank you for repeating the myth of double taxation. You are not taxed again on the portion you already paid taxes on. You are only taxed on the previously untaxed profits from your initial investment, just like any small business out there who is not taxed on their business expense, but are taxed on the profits from their business.

it isn't a myth in all cases. dividends derived from capital gains is a clear case of the same activity being taxed twice and would be more efficient to apply the tax once.