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youwindsurf



Joined: 18 Aug 2012
Posts: 657
Location: Classified

PostPosted: Thu Feb 13, 2014 9:08 am    Post subject: Reply with quote

[quote="stevenbard"] No, even if the stock market took such a dive, only the 1% would be hurt, so I don't think we'd fall apart as a nation.[/quote

Are not the 1% the "job creators"? If they get hurt by a market crash, would not all of the new jobs being created by them cease and the country spiral into a recession and significant unemployment?

But wait, we did suffer a significant market crash. The rich got richer and it was the 99% who suffered from the recession and unemployment.

So how is it the 1% would take a hit from another market crash and the 99% would not?
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stevenbard



Joined: 11 Nov 1993
Posts: 4213

PostPosted: Thu Feb 13, 2014 2:38 pm    Post subject: Reply with quote

There is a growing number of conservatives who are tired of this administration only supporting the oligarchs. It is about time that small business is top priority.

I was consistently against the bailout as it was structured. The 1% will always be here. IMO, we should be concerned about the 2% who actually do create jobs, and the 60%, who actually work.
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boggsman1



Joined: 24 Jun 2002
Posts: 3603
Location: at a computer

PostPosted: Thu Feb 13, 2014 2:43 pm    Post subject: Reply with quote

What do you suggest?small biz, manufacturing, exporting has been in freefall for 20 years...how should we address it?Small retailers have been CRUSHED by big boxing of America. Restaurants cant compete with the new efficient chains. What should we do?
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youwindsurf



Joined: 18 Aug 2012
Posts: 657
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PostPosted: Thu Feb 13, 2014 3:18 pm    Post subject: Reply with quote

Well, I ain't one o them eye-com-o-mists, but how 'bout as a partial solution giving a tax credit to manufacturers who bring manufacturing jobs back to the USA?
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pueno



Joined: 03 Mar 2007
Posts: 2698

PostPosted: Thu Feb 13, 2014 6:21 pm    Post subject: Reply with quote

youwindsurf wrote:
Well, I ain't one o them eye-com-o-mists, but how 'bout as a partial solution giving a tax credit to manufacturers who bring manufacturing jobs back to the USA?

Yes.

And/or a tax credit for new jobs created (NOT jobs that replace someone).
.
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windoggie



Joined: 22 Feb 2002
Posts: 2406

PostPosted: Thu Feb 13, 2014 7:16 pm    Post subject: Reply with quote

stevenbard wrote:
actually work.
and have to sail only on weekends...poor bastards
_________________
/w\
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stevenbard



Joined: 11 Nov 1993
Posts: 4213

PostPosted: Thu Feb 13, 2014 7:54 pm    Post subject: Reply with quote

Boggs, I have to agree with the above comments. I also think that just because a small businessman who created new jobs did well, he shouldn't be taxed like an investment banker.

I'm all for more equitable taxation of guys like Soros and Gates. Not Bard or Boggs.... Laughing

Even more importantly, we need to shut the door to congress and the Whitehouse for anyone remotely involved in donating to campaigns. Has anyone seen any small business concerns sleeping in the Lincoln bedroom?

PS, Michelle O did her best impression of Marie Antoinette yesterday wearing a $12,000 gown to the state dinner that cost $500,000 for the French President. ($12k is more than the average family income worldwide)
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pueno



Joined: 03 Mar 2007
Posts: 2698

PostPosted: Thu Feb 13, 2014 8:45 pm    Post subject: Reply with quote

stevenbard wrote:
Boggs, I have to agree with the above comments. I also think that just because a small businessman who created new jobs did well, he shouldn't be taxed like an investment banker.

I'm all for more equitable taxation of guys like Soros and Gates. Not Bard or Boggs.... Laughing

Soros, Gates, Buffett, and Romney no doubt pay a lower effective rate than Boggs and Bard.

And I wonder how much of those four people's personal/earned money (Soros, Gates, Buffett, Romney) is creating jobs? Their money is earning interest payments in some offshore account. It's the corporate money that creates jobs. And that money comes from product demand.
.
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youwindsurf



Joined: 18 Aug 2012
Posts: 657
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PostPosted: Thu Feb 13, 2014 10:54 pm    Post subject: Reply with quote

Tax reform. We can begin with the concept that income is income. Earned or investment. Tax it at the same rate, or tax earned income at a lower rate. Those with earned income work harder for it. Don't we reward hard work in this Country? Yeah, by taxing it at a higher rate. Nice reward.
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techno900



Joined: 28 Mar 2001
Posts: 1492

PostPosted: Sun Feb 16, 2014 4:03 pm    Post subject: Reply with quote

youwindsurf said:
Quote:
Tax reform. We can begin with the concept that income is income. Earned or investment. Tax it at the same rate, or tax earned income at a lower rate. Those with earned income work harder for it. Don't we reward hard work in this Country? Yeah, by taxing it at a higher rate. Nice reward.


Income may be income, but a pay check is different than capital gains on an investment. First of all, most investors have money because they earned it via a pay check, then saved and invested to make it grow. Investments can be risky and an investor may loose a significant amount of money bankrolling start up companies.

"Qualified investors" often choose to interject capital money into fledgling companies in need of funds to grow and expand. Savvy investors hunt out opportunities to hopefully make money in these new or young companies, not too different than what you see on "The Shark Tank", but generally on a much larger scale.

If the company grows and expands, hiring more employees to handle the expansion, the company may go with an IPO (initial public offering) selling stock in the company to the public. Frequently hoping that some larger organization will buy them up at a huge increase in stock pricing. The capital investors stand to make 3, 4, 5, 6+, times their investment in just a few years if all goes well.

Of course there is risk. Many companies that look promising go bust and the "qualified investors" frequently loose all their money. THAT'S WAY THE CAPITAL GAINS TAX IS LOWER THAN THE STANDARD RATE WHICH WAS 15% - RISK!

It's good for the economy and jobs for investors to interject capital into businesses. Tax them at a higher rate and fewer will risk their capital. However, the rates for 2013 are going up to 25% for capital gains and the top rate for earned income is going from 37.9% to 44.6%.

So how much of the countries' income tax burden should the top 1% pay? In 2011, they paid 35% of all income taxes, and that will go up with the new increase in taxes for the rich.

So, just what is a fair share for the top 1%?
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