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Originally Posted by lookout123
15% Capital Gains tax is ok, but lower would be better because the big players move their money and pay their 15% because they are looking at the big picture. Joe Six pack quite often makes horrible investment decision because he doesn't want to "lose" 15% of his gains to the government, thus setting himself up for a crushing when the market turns.
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Joe Sixpack can certainly be a doofus, we agree. But having capital gains taxed at a different rate than other "income" flies directly in the face of your warning in the last paragraph here. Clearly, those with capital gains at all are a minority, and those with a substantial capital gains exposure are a fraction of a fraction of the rest of the flat tax rate paying population.
Quote:
Originally Posted by lookout123
In the end I don't think any of those numbers actually matter so long as they are clear, strict, and enforced. There are two sides to every equation and the income side is less important than the expense side.
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What?! I agree with you that 15 vs 14 vs 16 vs some other dang number is minutiae. But do you seriously mean that one side is more important than the other? YIN vs yang? How can expenses be more important than income?
Quote:
Originally Posted by lookout123
The budget should absolutely be balanced and we should absolutely ditch the obscene "progressive" tax system we use. It is simply a political tool to enslave us in class warfare.
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Good observation, see my first comment.