Speaking of taxes, why in the fuck is congress wasting money suing Obama? Jesus H Christ man, as if 50 fucking Benghazi investigations weren't enough. This is by far the worst congress ever, period. End of story, Kenny start the music.
It's better that getting something done. Evryone knows I have no truck with the president but the suits and investigations are useless except for keeping the tea party frothing at the mouth. It would be better to put up serious proposals and gain some traction with the center but they are too afraid of being primaried or are true believers themselves. Rarely has our country been in such poor hands...trash, poltroons and schemers on the left and fools and bigots on the right.
I'll dish it out and take it in a debate, but when someone stops making arguments and just starts tossing insults, I check out, it bores me. No, thats not what I said. Money in investments creates new income that is subject to taxes just like any other new income. The imbalance is that most working people get income from salaries or small businesses profits. The ultra-rich makes the bulk of their income from investments. Why should that income be taxed at a lower rate than the income from salaries or business profits? It's set up so that the rich get richer, which has undeniably happened. So what? I'm able to retire early and comfortably and I have enough to do what I want. My investments make about the same that I make in salary/business profits, so I'm right in between the working guy with no income except salary and the idle rich whose dividends, interest, and capital gains makes up almost all of their income. Yes, I benefit greatly from the tax rates on investment income, but also I know America's best interests lie with a large and comfortable middle class, not a tiny elite of the very rich, whose money buys them political power to tilt the tax laws in their favor. So what? I have also worked in private industry and I own three small businesses.
This is Boehner trying to head off a mad rush to impeachment by Sarah and the Teabaggers by throwing a bone to them. Smart Republicans realize that the failed impeachment of Bill Clinton hurt them politically. Citizens don't like to see an elected President impeached for frivoulous political reasons by his opponents which is why no President has even been found guilty in an impeachment.
Don't you see the 15% rate helps the guys who top out in the 20% bracket, like you and me, even more than it helps the super rich you hate so much? When you have less to invest the beta has a bigger impact of where your money goes. The reduced rate decreases the beta. It opens up a larger class of investment opportunities. Your argument also fails to consider that some portion of capital gains are inflationary and not real gains. Wage income has a present value equal to its amount. That is not true of capital gains. The real increase in value of an asset is its market value less cost less inflation, so it makes little sense to tax capital gains as ordinary income. Investment is part of the equation for gdp. Economists almost universally agree that tax policy should encourage investment. The lower capital gains rate does that.
Stop with this shit, intended to discredit my position, while ignoring my reasons. I don't hate the super rich. I have never said anything like that. I hate the fucking tax code that favors the super rich. But that 15% rate was not based on such an adjustment, was it? It was an arbitrary rate whose ultimate result is a increase in the gap between the rich and the middle class. The success of America over its entire history is based on us having a huge and prosperous middle class, not an ultra-rich elite ruling over a nation of paupers as existed in much of the world. I see this system declining as a small oligarch amasses a huge percentage of the nations wealth. Good for them. Bad for the nation. But at what cost? I think there is an imbalance that needs to be corrected.
