April 22, 200818 yr I was talking about Europe being capitalist. Obama said he may increase the capital gains tax. May. Not will. But I don't see how shifting some of the tax burden on the upper class is such a bad thing. Working class folks are the reason they are wealthy to begin with. The wealthy caring the majority of the tax burden as it is. Also, raising capital gains would not effect just the wealthy.
April 22, 200818 yr Not sure there is any link but most describe the European nations as socialist and yet the Euro is sure doing a lot better than the dollar these days. Unemployment in the European Union is the lowest it's been since they started calculating it across the EU (since 1993). It's at 7.1%. Unemployment in the US is currently at 5.1%.
April 22, 200818 yr Unemployment in the European Union is the lowest it's been since they started calculating it across the EU (since 1993). It's at 7.1%. Unemployment in the US is currently at 5.1%. And just try to get a job there if you're not from the EU.
April 22, 200818 yr I was talking about Europe being capitalist. Obama said he may increase the capital gains tax. May. Not will. But I don't see how shifting some of the tax burden on the upper class is such a bad thing. Working class folks are the reason they are wealthy to begin with. The reason they are wealthy is probably a combination of hard work, innovative thinking, smart business risks, and, in some cases, the good fortune of having wealthy parents. They are not wealthy because of working class people. And agreed with woodsrider on the fact that capital gains tax affects more than just the wealthy. Higher capital gains taxes = less entrepreneurship (as well as many other things) = less new firms = less jobs = more unemployment, which often equals lower wages. Which affects everyone. Like all taxes, it isn't good for the economy. While taxes are very necessary evil, IMO this one is particularly bad.
April 22, 200818 yr Hedge fund managers are able to use the capital gains tax on at least part of their income despite not risking their own capital. Is this what the capital gains tax was designed for?
April 22, 200818 yr The majority of the people who pay capital gains tax make less than $100K. However, the majority of the revenue generated from the capital gains tax is generated from people who make more than $100K.
April 23, 200818 yr The wealthy caring the majority of the tax burden as it is. Also, raising capital gains would not effect just the wealthy. It amazes me how many people don't get this.
April 23, 200818 yr I was talking about Europe being capitalist. Obama said he may increase the capital gains tax. May. Not will. But I don't see how shifting some of the tax burden on the upper class is such a bad thing. Working class folks are the reason they are wealthy to begin with. You mean shifting more of the tax burden to the upper income individuals right? They already pay more than everyone else already. At what point would a higher income individual be taxed enough to make feel as though they were being taxed fairly?
April 23, 200818 yr You mean shifting more of the tax burden to the upper income individuals right? They already pay more than everyone else already. At what point would a higher income individual be taxed enough to make feel as though they were being taxed fairly? I can't wait for this answer.
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