robert its game over. theres no growing your way out of a $12 trillion deficit. taxes will sky regardless of wether a republican or democrat is in office.the system was saved and now its huge pay back time which means little growth for 10-20 years like japan. thats the price we must pay for saving every insolvent company on earth
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1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
You are probably right. But we still need to grow to pay more taxes and not undermine businesses and jobs with taxes past the tipping point. Spending is more of a problem than taxes. We haven't cut spending and pork since I can't remeber when. We've tried tax cuts and tax increases so it's time to try cutting the size of government. Republicans realized Democrats were buying votes with spending and they figured they had to follow suit. Hopefully the Tea Party will get them back in track.
Dems will lose control in the midterms if they talk tax increases too much while at the same time passing health care and more regular big spending.
We all have Obama fatigue as they have come at as from all directions. Let's reclaim the debate and stop picking among tax increase poisons.
Dems will lose control in the midterms if they talk tax increases too much while at the same time passing health care and more regular big spending.
We all have Obama fatigue as they have come at as from all directions. Let's reclaim the debate and stop picking among tax increase poisons.
Interesting news out of India.
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Most finance ministers in the past gave direct tax reforms a miss, preferring discretion to valor, until P. Chidambaram took the bull by its horns and drafted a new code to replace the Income Tax Act of 1961. The new code is expected to simplify the tax procedures and adopt international best practices. But it could be tough on investors because their overall tax burden is likely to increase.
The biggest blow to investors is the removal of tax exemption for long-term capital gains. The code proposes abolishing the securities transaction tax of 0.25%, which by itself, would have been welcome. But the code also imposes capital gains tax on all gains made by selling shares, irrespective of the time they were held for. Thus it eliminates the distinction between short-term and long-term gains.
http://www.forbes.com/2010/01/18/fo...g-the-code.html?boxes=businesschannelsections
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Most finance ministers in the past gave direct tax reforms a miss, preferring discretion to valor, until P. Chidambaram took the bull by its horns and drafted a new code to replace the Income Tax Act of 1961. The new code is expected to simplify the tax procedures and adopt international best practices. But it could be tough on investors because their overall tax burden is likely to increase.
The biggest blow to investors is the removal of tax exemption for long-term capital gains. The code proposes abolishing the securities transaction tax of 0.25%, which by itself, would have been welcome. But the code also imposes capital gains tax on all gains made by selling shares, irrespective of the time they were held for. Thus it eliminates the distinction between short-term and long-term gains.
http://www.forbes.com/2010/01/18/fo...g-the-code.html?boxes=businesschannelsections
India new tax code. Based on best practices and the Indians are experienced and smart. No FTT and that's smart. Good for them, they don't penalize short -term investors versus long-term. Why should people get a tax carrot to tie up money with risk? I hinted on this in my reply to Bogle's campaign. Futures business traders benefit from lower long term rates in 60/40.
Indian-Americans are very into active trading and many are making a fortune doing it. Trading is gaining popularity in India too. India is protecting the short term trader and values no FTT over other choices like exempt long term gains. That ties up investments forever and undermines active entrepreneurship which India is wisely encouraging. America needs to protect and encourage short term focus too.
Indian-Americans are very into active trading and many are making a fortune doing it. Trading is gaining popularity in India too. India is protecting the short term trader and values no FTT over other choices like exempt long term gains. That ties up investments forever and undermines active entrepreneurship which India is wisely encouraging. America needs to protect and encourage short term focus too.
India's consideration of a FTT removal is a nice cross current to those in Europe trying to get other countries to add one.