Gingrich tax plan would add about $1 trillion to the federal deficit in a single year

[cgroupman]

Quote from Mercor:

Income from wages is less risky then income from capital. Why take risk with capital if taxes are the same as wages?

Do you agree the municipal bonds should be taxed?

If you got your way and all income was taxed the same, what percent should the people who earn the top 20% of all income pay. What percent of all federal taxes?

1. Income from wages is less risky, but does involve actually working. I can see it now, stop investing to start working, yeah right. And, what else are they going to do with the money? No savings type interest any longer. See note below.

2. Sure, why not tax muni bonds? So many entities are sub-par investments anyway.

3. The 3rd point is just not valid. The group who makes the most money, logically pay the most in taxes. Just like in a consumer based taxation system, the biggest consumers pay the most.

And, the more wealthy don't pay interest, since they pay cash for homes and cars and the like. The trillions in interest payments come from those who haven't accumulated wealth, sort of another tax.



c

 

[Free Thinker]

Quote from Mercor:

Income from wages is less risky then income from capital. Why take risk with capital if taxes are the same as wages?

Do you agree the municipal bonds should be taxed?

If you got your way and all income was taxed the same, what percent should the people who earn the top 20% of all income pay. What percent of all federal taxes?

as traders and investors we risk capital every day making investments that might not pay off. a store owner risks his capital to buy inventory that might not sell at a profit. why should one get a break over the other?


second question: look at it another way. the top 20% hold 85% of the wealth in this country. how much of the expense of running the country should they pay?
the fairest way is just what we have now. you make a return you give part of it back. if you have a bad year and make no return you get to not pay that year.

 

[cgroupman]

Quote from Free Thinker:

as traders and investors we risk capital every day making investments that might not pay off. a store owner risks his capital to buy inventory that might not sell at a profit. why should one get a break over the other?


second question: look at it another way. the top 20% hold 85% of the wealth in this country. how much of the expense of running the country should they pay?
the fairest way is just what we have now. you make a return you give part of it back. if you have a bad year and make no return you get to not pay that year.

Good point. I was trying to explain to these people who picked up on the ridiculous tripe about how the wealthy pay the most, like it's a bad thing.

As I've mentioned before, not in a vain way. I have been in the worst tax bracked for very long time. Sure it hurts, but I have no mortgage, no car payments, no savings interest to speak of, so, yes a few investments, some good, many not so good. Risk reward.



c