Re: SCHILLING'S firm is in trouble?
posted at 5/25/2012 9:52 PM EDT
In Response to Re: SCHILLING'S firm is in trouble?
[QUOTE]In Response to Re: SCHILLING'S firm is in trouble? : I'd prefer a flat tax, too, but capital gains cannot be exempted. Here's a scenario for you - you and I work the same job at the same salary. We both invest in a stock. You work harder than I do, and put in longer hours and show more initiative. You get a raise the second year. At the end of the third year, the business tanks, and we're both laid off. You have made $15K more than I have, but my stock has increased $15K in worth while yours has not moved. I decide to sell the difference to make ends meet. Who should be taxed higher on that extra $15K over 3 years? Your income or my capital gains? Usually when we're talking about capital gains we're talking about stocks or homes. If you buy stock in Burger King, you're relying on a lot of people you don't believe are paying into the system. The cashiers and janitors are the guys you are talking about not paying into the system, but without them what would your stock look like? They don't pay property taxes, but the guy who owns their apartment does - what would he do if he couldn't find a renter? The top 10% of wage earners control 80% of the wealth. If they are paying 60% of the taxes, then that doesn't sound like enough.
Posted by slomag[/QUOTE]
How about those that pay no tax.
and I really don't care how much wealth of the country the rich control. I read recently that 30 percent of millionaires is family wealth the other 70 percent earned it in their life times.
I know a few self made millionaires my younger brother is one. We grew up in a low income housing project in NY, 7 kids in three bedrooms. We had nothing.
My brother worked his butt off and still does, and left a few cushy jobs that most people would be happy with, he took chances went totally broke a few times.
To say he has too much and should give more to the system is bs.
The rich pay enough the spending needs to stop.
This is Obama's game the politics of division, the rich are evil they control too much so he can redistribute to all the have nots who in turn vote for him.
Sounds like the seeds of the Bolshevik Revolution.
This man needs to go. He's destroying this country.
4 more years of this and we're done as a world power.