Capitalism Explained

[shatto]

[theholycow]

Where's the parts about licensing and taxation?

[dkjones96]

Originally Posted by theholycow

Where's the parts about licensing and taxation?

hahahahaha

[bowtieguy]

Originally Posted by theholycow

Where's the parts about licensing and taxation?

and what of unions and regulation?

[RningOnFumes]

hahah... nice.

Change Bob to Dave and that 's me.

[bowtieguy]

"you cannot bring about prosperity by discouraging thrift. you cannot strengthen the weak by weakening the strong. you cannot help the wage earner by pulling down the wage payer. you cannot further the brotherhood of man by encouraging class hatred. you cannot help the poor by destroying the rich. you cannot keep out of trouble by spending more than you earn(tax). you cannot build character and courage by taking away a man's initiative and independance. you cannot help men permanently by doing for them what they could and should do for themselves."

perhaps the self proclaimed "new Lincoln" should consider the words of the "old" and original Lincoln.

[Sillst]

You know normally I don't enjoy Shattos posts but for this one High Five! Nice!

[Snax]

Originally Posted by bowtieguy

"you cannot bring about prosperity by discouraging thrift. you cannot strengthen the weak by weakening the strong. you cannot help the wage earner by pulling down the wage payer. you cannot further the brotherhood of man by encouraging class hatred. you cannot help the poor by destroying the rich. you cannot keep out of trouble by spending more than you earn(tax). you cannot build character and courage by taking away a man's initiative and independance. you cannot help men permanently by doing for them what they could and should do for themselves."

perhaps the self proclaimed "new Lincoln" should consider the words of the "old" and original Lincoln.

I will have to respectfully disagree with the highlighted premise in it's absolutism. Surely there can be a balance in sharing the wealth between the wage payer and earners who are productive and add to the value of a company.

With respect to the 90% tax rate, I think that goes back to an era of extreme taxation of the wealthy that really is socialist, but the reality of where we are today is a wealthy class that pays a mere 15% on dividends and capital gains as opposed to even the highest of the middle class paying a whopping 38% on wages that they ACTUALLY WORKED FOR!

Eliminating this special class of taxation for investors would go a long way toward evening the playing field.

[bowtieguy]

Originally Posted by Snax

Eliminating this special class of taxation for investors would go a long way toward evening the playing field.

hasn't history shown that this not only hurts the market AND the economy, but it also DECREASES tax revenue due to less trading?

so levelling the field in this respect may be a moot point, besides govt has shown us that they will continue to increase spending.

i question the REAL struggles of 2 income families(or 1 person, 1 income). we continue to "tax" ourselves by spending more than we make and accumilating debt, rather than wealth. to remedy THAT, would go a long way towards levelling hardships. someone else's wealth is their business.

[Snax]

Originally Posted by bowtieguy

hasn't history shown that this not only hurts the market AND the economy, but it also DECREASES tax revenue due to less trading?

A good investment is still a good investment, and there will always be fire sales and hoarding associated with changes in the tax code, but dividend payouts don't change - and should be taxed as regular income. Likewise, while higher capital gains taxes lead to reduced trading, it encourages long term investment that ultimately gets sold off or turned into dividends anyway. This further encourages investors to have a personal stake in the success of their investments, growing them for the long term vs. cashing out on a short sale or ripping a company apart and selling it in pieces. In other words, it puts a damper on corporate raiding and encourages corporate growth.

. . besides govt has shown us that they will continue to increase spending.

It's like a goldfish in a 50 gallon tank, they grow to utilize the excess. The only real difference between Republicans and Democrats is what the money gets spent on.

i question the REAL struggles of 2 income families(or 1 person, 1 income). we continue to "tax" ourselves by spending more than we make and accumilating debt, rather than wealth. to remedy THAT, would go a long way towards levelling hardships. someone else's wealth is their business.

But if somebody else's wealth is built upon the use of the roadways, sewer system, police, and fire protection that MY taxes pay for, they are obligated to pay their share as well. Evaluating what their share is remains the sticking point apparently, but it most certainly is not the same as what I personally pay, as I am not foisting countless noisy, polluting, road destroying trucks out into the community to make my living. Those who are should clearly pay more. Trucks are just one example. I could probably come up with something similar for any industry.