Political thread 2011
-
If you put a tax on cap gains, should you also let people use cap losses as a tax deduction? > Trafik Jamz;325432 wrote:
however IF capital gains via hedge funds, etc... were taxed like they SHOULD be at the time they were received/earned there would be a big influx of revenue there as well, the last number I recall being thrown around was $2trillion sitting in hedge funds. If taxed at even a 15% capital gains rate that would generate $300,000,000,000 in tax revenue. Now, there's a good likelihood that not ALL of that money will sit there forever and that some will be paid out to the hedge fund owners, but even if it is 1/2 that stays in, that would be $150 billion that is sitting there as money people have made but are not taxed on.
DaveH
'94 Supra- 7.77 @ 176mph -
Yes. It is my understanding that some capital losses are currently deductible from taxes as is...well, I just read it a bit and it limits out at $3000. I guess to be fair if you have a capital loss you should be able to deduct 15% of it from your taxes since if you have a gain you should have to pay 15% on your taxes.
-
Trafik Jamz;325435 wrote:
well, I just read it a bit and it limits out at $3000. I guess to be fair if you have a capital loss you should be able to deduct 15% of it from your taxes since if you have a gain you should have to pay 15% on your taxes.Yeah, $3k is a joke.With cap loss deductions, there would have been a LOT less taxes collected since the market took a dump.DaveH
'94 Supra- 7.77 @ 176mph -
last year was a great year to be in the market Dave. I made money on all of my investments in 2010 (401k, UL Insurance, Stocks, Bonds, etc..) Cumulatively I was +28% on the year. The DJIA was within 10% of all time highs. There would have been money made on taxes that year. Also, just because a stock goes down doesn't mean that everyone lost money. Some people short stocks and make money on the decline.
-
Trafik Jamz;325438 wrote:
last year was a great year to be in the market Dave. I made money on all of my investments in 2010 (401k, UL Insurance, Stocks, Bonds, etc..) Cumulatively I was +28% on the year. The DJIA was within 10% of all time highs. There would have been money made on taxes that year. Also, just because a stock goes down doesn't mean that everyone lost money. Some people short stocks and make money on the decline.I didn't say "last year".
DaveH
'94 Supra- 7.77 @ 176mph -
overall it would be a net gain. Some years significantly less than others, but still a net gain in tax revenue.
-
Maybe. You are assuming that the US economy recovers and that there would be cap gains..> Trafik Jamz;325441 wrote:
overall it would be a net gain. Some years significantly less than others, but still a net gain in tax revenue.
DaveH
'94 Supra- 7.77 @ 176mph -
And if it doesn't recover then their is more write off's due to capital losses based on my idea. Lower taxes = Jobs, right?
-
Bump this. Things have changed a lot since this thread was originally posted. I predicted Gingrich would skyrocket in polls on 10/31, but how long his momentum stays is anybody's guess. Maybe he'll go all the way, who knows. I was wrong for the reasoning Herman Cain would become irrelevant, but it is kinda hard to predict extramarital affairs.
-
Wow, Gary and I are on the same page with regards to political candidates. Someone write this on the calendar.
-
http://www.youtube.com/watch?v=umyO-Cn8I2Q
I don't know, Ron Paul is obviously a Tea Party favorite, but he also recently said he is in favor of the "99%" and thinks that Wall Street and the Government are too closely tied to each other "They got the bail out, you got stuck with the bill" (paraphrased). I see him as the only candidate that can possible bridge the TEA Party and OWS movements and gain BOTH of their votes in the upcoming election.
-
(Hold on to your chair chuck, your gonna love this)
To tell you the truth Dave, I would rather vote for paul and have obama re-elected than to put newt or romney in there, purely for the fact that if BO does indeed stay in office, we can just sit here and either
A, watch it all come down and start over. or
B, watch him do absolutely nothing on account we should have a gain in the house and IMHO a majority senate, and let him drag the Democrat party straight to the gates of hell.I fear electing one of those clowns instead is just simply not going to turn this ship around, maybe slow it a little, but I for one just wnat to get this shit over with, hit bottom already and get to the rebuilding process. Whereas I beleive Ron may be the only one to put us back on the right track. Now a Paul/Huntsman ticket is where I'm at, cant see santorum grabbing on to the VP, but Huntsman is IMHO the most conservative person on the stage otherwise if you simply go by their records, not to mention his ability to work with china would be a big plus
-
IF Obama gets re-elected, I HOPE TO GOD that there is a Republican majority in the House and Senate. I'm all in favor of the two opposing parties being forced to work together to find some common ground. What I'm not in favor of is each party flexing it's political muscles and defying EVERY move that the other makes. Likewise, if a Republican wins I hope that there is at least one branch of congress controlled by the left or that at least has filibuster power.
Fiscally I'd say I fit the conservative profile 90% of the time. Interestingly, MOST of the politicians (even the Republican ones) fit this less than 25% of the time if we are being honest about it.
Socially....man this one is tough, but if you are truly small government you can't say that either party is good at this. They both want to limit what you can/can not do based on a religious/personal/purchased view that not everyone can agree on and I think it is better addressed at the state/local levels than at a federal level.
From a military standpoint I just want other countries to fight their own damn wars and if we are attacked, I'm all for immediate retaliation. The problem (as I see it) is that wars are no longer fought between different countries but rather we are fighting against "ideas". By that I mean we are in a war in Afghanistan, but we are not at war with Afghanistan. We are fighting against "Al-Qaeda" but al-qaeda has no official means to declare themselves defeated or to surrender as a whole. Sanctions can not be imposed on them because...well, they are not the officially receiving money/aid/supplies from us or our allies anyway because they aren't a nation. It would be like declaring a war on atheists. They are everywhere and by killing them because they don't follow the rules of your God would do nothing more than create more anger and a further move towards their beliefs.
Basically, I have no faith in the Government as a whole, regardless of political party. I do believe that Ron Paul is the only one who will at least try to do what he says he will as he has a history of this.
-
Grr;325712 wrote:
(Hold on to your chair chuck, your gonna love this)To tell you the truth Dave, I would rather vote for paul and have obama re-elected than to put newt or romney in there, purely for the fact that if BO does indeed stay in office, we can just sit here and either
A, watch it all come down and start over. or
B, watch him do absolutely nothing on account we should have a gain in the house and IMHO a majority senate, and let him drag the Democrat party straight to the gates of hell.I fear electing one of those clowns instead is just simply not going to turn this ship around, maybe slow it a little, but I for one just wnat to get this shit over with, hit bottom already and get to the rebuilding process. Whereas I beleive Ron may be the only one to put us back on the right track. Now a Paul/Huntsman ticket is where I'm at, cant see santorum grabbing on to the VP, but Huntsman is IMHO the most conservative person on the stage otherwise if you simply go by their records, not to mention his ability to work with china would be a big plus
i'm on board with this...
-
we need to remake the poll now that some of the candidates are no longer running...
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Register Login