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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Straw Man on August 17, 2008, 04:42:42 PM

Title: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 17, 2008, 04:42:42 PM
http://blogs.abcnews.com/politicalradar/2008/08/obama-clarifies.html

Obama Clarifies Scope of Capital Gains Tax Hike
ABC News' Teddy Davis, Arnab Datta, and Rigel Anderson Report: Sen. Barack Obama’s, D-Ill., top economic advisors announced on Thursday that he is seeking to raise the capital gains tax rate from 15 percent to 20 percent for those Americans making more than $250,000 per year.

“The top capital-gains rate for families making more than $250,000 would return to 20% -- the lowest rate that existed in the 1990s and the rate President Bush proposed in his 2001 tax cut. A 20% rate is almost a third lower than the rate President Reagan set in 1986,” wrote Obama advisors Jason Furman and Austan Goolsbee in Thursday’s Wall Street Journal.


Thursday’s Wall Street Journal op-ed is the first time that Obama’s campaign has pinpointed the scope of his capital gains tax hike on families making more than $250,000 per year, according to Obama spokesman Bill Burton.  The details on the capital gain tax hike are part of a broader economic platform that prioritizes tax relief for middle-class families over deficit reduction.

When asked about the capital gains rate back in March, Obama told CNBC’s Maria Bartiromo that he “certainly would not go above . . . 28 percent,” adding, “and my guess would be it would be significantly lower than that.”

He went on to say: “I think that we can have a capital gains rate that is higher than 15 percent [the current level]. If it – and if it, you know – when I talk to people like Warren Buffet or others and I ask them, you know, what’s – how much of a difference is it going to be if it’s 20 or 25 percent, they say, look, if it’s within that range, then it’s not going to distort, I think, economic-decision making.”

In the past, Fox News analyst Dick Morris has used Obama’s seeming openness to raising the capital gains rate as high as “28 percent” to argue that the presumptive Democratic nominee favors a “doubling” of the tax on capital gains.

On television, in op-eds, and in his new book, “Fleeced,” Morris has converted the Obama line into the false charge that the presumptive Democratic nominee “pledges to double the capital gains tax.”

“This misguided policy will drive capital off shore and turn a flow into a torrent,” wrote Morris. “The financial problems of American banks will be amplified. McCain should pounce on this issue and correlate the current crisis with Obama’s position on capital gains. It would be a big winner.”
By getting specific about how high he would like to see the capital gains rate go for families making more than $250,000 per year, Obama is helping to inoculate himself against the charge that he is open to going almost as high as 28 percent.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 17, 2008, 04:43:37 PM
Punish people for making money.. we know.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Dos Equis on August 17, 2008, 04:46:40 PM
Clarification.  lol.    ::)  Good that he realized how wrongheaded part of his proposed tax increase is, but he's still wrong. 
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: youandme on August 17, 2008, 04:47:09 PM

But if it were not true, then the liquidty in the United States markets would not have shored up as fast and as much as it did, this summer. True it does "go away in May", but not like this, ever before.
People with money have already taken their money to offshore investments.
People in the bond markets, are waiting for Osama to get in, they know he is going to need a shit load of money to finance, his welfare programs, and they will control, how highhe raises taxes, just like they did in the Clinton Era
Feel free to debate these points, but only if you know what your talking about, I'm not going to go back and forth on this with someone that has not even paid CGT.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: youandme on August 17, 2008, 04:48:46 PM
On top of that, this is a rimjob if I have ever seen one. These are Obama's advisors speaking people that can be fired in a heartbeat once Obama decides to raise CGT, pointing them to blame for miscalculations. Obama said in his own words "it could go as high as 28%" end quote.

Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: w8tlftr on August 17, 2008, 05:27:32 PM
So if you make more you pay more in taxes. Congratulations on your success. Typical socialist crap.

This is why I'm not voting for that socialist knob. I don't need to give more of the money that I work for to Nobama and his liberal fascist hacks.

That money can be better put to use for my family.





Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 17, 2008, 05:32:38 PM
http://blogs.abcnews.com/politicalradar/2008/08/obama-clarifies.html

Obama Clarifies Scope of Capital Gains Tax Hike
ABC News' Teddy Davis, Arnab Datta, and Rigel Anderson Report: Sen. Barack Obama’s, D-Ill., top economic advisors announced on Thursday that he is seeking to raise the capital gains tax rate from 15 percent to 20 percent for those Americans making more than $250,000 per year.

“The top capital-gains rate for families making more than $250,000 would return to 20% -- the lowest rate that existed in the 1990s and the rate President Bush proposed in his 2001 tax cut. A 20% rate is almost a third lower than the rate President Reagan set in 1986,” wrote Obama advisors Jason Furman and Austan Goolsbee in Thursday’s Wall Street Journal.


Thursday’s Wall Street Journal op-ed is the first time that Obama’s campaign has pinpointed the scope of his capital gains tax hike on families making more than $250,000 per year, according to Obama spokesman Bill Burton.  The details on the capital gain tax hike are part of a broader economic platform that prioritizes tax relief for middle-class families over deficit reduction.

When asked about the capital gains rate back in March, Obama told CNBC’s Maria Bartiromo that he “certainly would not go above . . . 28 percent,” adding, “and my guess would be it would be significantly lower than that.”

He went on to say: “I think that we can have a capital gains rate that is higher than 15 percent [the current level]. If it – and if it, you know – when I talk to people like Warren Buffet or others and I ask them, you know, what’s – how much of a difference is it going to be if it’s 20 or 25 percent, they say, look, if it’s within that range, then it’s not going to distort, I think, economic-decision making.”

In the past, Fox News analyst Dick Morris has used Obama’s seeming openness to raising the capital gains rate as high as “28 percent” to argue that the presumptive Democratic nominee favors a “doubling” of the tax on capital gains.

On television, in op-eds, and in his new book, “Fleeced,” Morris has converted the Obama line into the false charge that the presumptive Democratic nominee “pledges to double the capital gains tax.”

“This misguided policy will drive capital off shore and turn a flow into a torrent,” wrote Morris. “The financial problems of American banks will be amplified. McCain should pounce on this issue and correlate the current crisis with Obama’s position on capital gains. It would be a big winner.”
By getting specific about how high he would like to see the capital gains rate go for families making more than $250,000 per year, Obama is helping to inoculate himself against the charge that he is open to going almost as high as 28 percent.


Oh, and thanks for clarifying that...  Now that I know the REAL story Obama looks like a MUCH better choice than McCain.

::) ::)
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 17, 2008, 05:45:31 PM
How much did all the tycoons on this board pay in Cap Gains tax last year?
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 17, 2008, 06:17:27 PM
How much did all the tycoons on this board pay in Cap Gains tax last year?

Irrelevant AND none of your business.

(two things libs really hate to hear)

;D
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 17, 2008, 06:27:56 PM
Irrelevant AND none of your business.

(two things libs really hate to hear)

;D

translation = zero

Any wage earner (i.e. paid on a W-2) with an AGI that is less than multiple six figures who is voting vote McCain soley for the reason that they think they will be better off financially with McCain will get exactly what they deserve.

full disclosure - I'm self employed and have had many years where I probably paid more in taxes than the avg. GB'r makes in annual income. 
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 17, 2008, 06:32:40 PM
translation = zero

Any wage earner (i.e. paid on a W-2) with an AGI that is less than multiple six figures who is voting vote McCain soley for the reason that they think they will be better off financially with McCain will get exactly what they deserve.

full disclosure - I'm self employed and have had many years where I probably paid more in taxes than the avg. GB'r makes in annual income. 

What does the earnings of the average getbigger have to do with the nations tax code?  Answer:

IT'S IRRELEVANT  Read it a few more times if you have to.

If you feel the need to pay more then go for it.  No ones stopping you.

But your socialist wealth redistribution tactics shouldn't be forced on anyone with the wherewithall to try and be prosperous. 
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 17, 2008, 08:21:23 PM
What does the earnings of the average getbigger have to do with the nations tax code?  Answer:

IT'S IRRELEVANT  Read it a few more times if you have to.

If you feel the need to pay more then go for it.  No ones stopping you.

But your socialist wealth redistribution tactics shouldn't be forced on anyone with the wherewithall to try and be prosperous. 

I mentioned it for the purpose of disclosure and perspective. 

I paid no capital gain tax last year and I'm pretty sure none the year before.   AMT is what get's me and it affects a lot more people from at all income levels than the CG issue

I consider the massive debt that Bush has racked up as the real redistribution of my wealth and that worries me more than Obama raising the CG tax by 5% (yes marginal increase of 5% and only if your AGI is > 250k or at least that's what has been said).   

BTW - I'd really like to see both candidates lay out the #'s in a format that is clear and understandable to the average person.   Maybe that's already out there somewhere but I can't find it.  I wish they would show me some side by side comparison of line item issues based various sample situations or even better yet just make a spreadsheet/website where everyone could plug in their own data and see what the result will be. 


 
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Dos Equis on August 17, 2008, 08:32:13 PM
translation = zero

Any wage earner (i.e. paid on a W-2) with an AGI that is less than multiple six figures who is voting vote McCain soley for the reason that they think they will be better off financially with McCain will get exactly what they deserve.

full disclosure - I'm self employed and have had many years where I probably paid more in taxes than the avg. GB'r makes in annual income. 

lol.  Another getbig millionaire.  lol . . .
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 17, 2008, 08:44:38 PM
lol.  Another getbig millionaire.  lol . . .

where did I say I was a millionaire?

I rarely if ever talk about personal stuff on here unlike you who practically announces every bowel movement
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 17, 2008, 08:58:20 PM
I mentioned it for the purpose of disclosure and perspective. 

I paid no capital gain tax last year and I'm pretty sure none the year before.   AMT is what get's me and it affects a lot more people from at all income levels than the CG issue

I consider the massive debt that Bush has racked up as the real redistribution of my wealth and that worries me more than Obama raising the CG tax by 5% (yes marginal increase of 5% and only if your AGI is > 250k or at least that's what has been said).   

BTW - I'd really like to see both candidates lay out the #'s in a format that is clear and understandable to the average person.   Maybe that's already out there somewhere but I can't find it.  I wish they would show me some side by side comparison of line item issues based various sample situations or even better yet just make a spreadsheet/website where everyone could plug in their own data and see what the result will be. 


"Oh, it's not that bad.  It's just another 5%."

How many times do the American taxpayers have to hear this and get more money siphoned off before they even see it?  Taxes never get lifted permanently but we are always seeing new ones being pushed for, specifically from liberal democrats who have learned that more taxes are there for the taking as long as the populace can be duped.  We pay enough taxes.  It's time we start rolling them back and having some accountability.

People like you should just give the gov't that extra 5% if you want to pay it.  But stop forcing the rest of us who don't because having less and less direction over where our stolen income goes is NOT freedom and you don't have a right to force it upon us through legislation. 
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Dos Equis on August 17, 2008, 09:00:15 PM
where did I say I was a millionaire?

I rarely if ever talk about personal stuff on here unlike you who practically announces every bowel movement

Whatever you say Donald Trump.  lol . . . 

 ::)
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 17, 2008, 09:07:10 PM
"Oh, it's not that bad.  It's just another 5%."

How many times do the American taxpayers have to hear this and get more money siphoned off before they even see it?  Taxes never get lifted permanently but we are always seeing new ones being pushed for, specifically from liberal democrats who have learned that more taxes are there for the taking as long as the populace can be duped.  We pay enough taxes.  It's time we start rolling them back and having some accountability.

People like you should just give the gov't that extra 5% if you want to pay it.  But stop forcing the rest of us who don't because having less and less direction over where our stolen income goes is NOT freedom and you don't have a right to force it upon us through legislation. 

like I said, I'm MUCH more concerned about the debt that my govt is leaving me (and more important the debt service requirements) than the marginal increase in CG that I might have to pay someday.

The debt racked up will inevitably create more problems and the proposed tweak in the CG tax will be nothing more than the  deck chairs on the Titanic
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 17, 2008, 09:15:30 PM
Whatever you say Donald Trump.  lol . . . 

 ::)

Here is what I wrote

full disclosure - I'm self employed and have had many years where I probably paid more in taxes than the avg. GB'r makes in annual income. 

how does this make me a millionaire i.e net assets of 1,000,000 or greater?

did I ever say that?

You're the one who talks about his business so of course you understand the difference between gross revenue, net profits, retained earning etc...

Somehow you can divine my net worth by a guess on what I paid in taxes and also imply that I'm making such a claim?

 ::) ::) ::)

Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Dos Equis on August 17, 2008, 10:34:25 PM
Here is what I wrote

how does this make me a millionaire i.e net assets of 1,000,000 or greater?

did I ever say that?

You're the one who talks about his business so of course you understand the difference between gross revenue, net profits, retained earning etc...

Somehow you can divine my net worth by a guess on what I paid in taxes and also imply that I'm making such a claim?

 ::) ::) ::)



How the heck do you know what the "avg. GB'r makes in annual income"?    ::)
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 17, 2008, 10:37:50 PM
good point - let's throw out all the millionaires from the average and also all the kids who make < 3k a year  or even better let's use the national median income

if I pay more taxes than the national median income does that make me a millionaire? (again assuming your definition is net assets)

don't forget to show your work

Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Dos Equis on August 17, 2008, 10:53:34 PM
good point - let's throw out all the millionaires from the average and also all the kids who make < 3k a year  or even better let's use the national median income

if I pay more taxes than the national median income does that make me a millionaire? (again assuming your definition is net assets)

don't forget to show your work



Good grief.   ::)  Use of the word "millionaire" was a figure of speech that was intended to highlight how many people on this website claim to be wealthy and was designed to highlight how you were talking out of your rear end when you said you probably make more than average person who posts on this site.  You have no friggin clue how much the “average” person on this site makes.  The "average" person who posts on the politics board appears to be very educated.  For all we know, you bag groceries at Walmart (not that there's any wrong with that--there isn't).   
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 17, 2008, 11:04:59 PM
Good grief.   ::)  Use of the word "millionaire" was a figure of speech that was intended to highlight how many people on this website claim to be wealthy and was designed to highlight how you were talking out of your rear end when you said you probably make more than average person who posts on this site.  You have no friggin clue how much the “average” person on this site makes.  The "average" person who posts on the politics board appears to be very educated.  For all we know, you bag groceries at Walmart (not that there's any wrong with that--there isn't).   

you comment is the example of the very reason why I shared my perspective

your use of the word millionaire implied that I made such a claim, which I did not.

do you think the mean income of GB.com  is > than 100k?

how about the median?

the national median is ~ 50k but I know GB.com has a preponderance of super successful business types such as yourself so our mean is no doubt skewed

maybe you can just explain how you can derive an estimate of net worth from a guess about an annual income tax payment??

seriously, I mean you're the business man so I know you're not just talking out of your ass

 ::)
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Dos Equis on August 17, 2008, 11:11:14 PM
you comment is the example of the very reason why I shared my perspective

your use of the word millionaire implied that I made such a claim, which I did not.

do you think the mean income of GB.com  is > than 100k?

how about the median?

the national median is ~ 50k but I know GB.com has a preponderance of super successful business types such as yourself so our mean is no doubt skewed

maybe you can just explain how you can derive an estimate of net worth from a guess about an annual income tax payment??

seriously, I mean you're the business man so I know you're not just talking out of your ass

 ::)

Listen, and this probably my last attempt, you have no earthly idea how much the average person on this site makes, so you were clearly talking out of turn.  Use all the large font, bold, etc. you want (lol . . .), it doesn't change the fact you didn't and don't know what the heck you're talking about. 
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 06:51:23 AM
You've already admitted you're baffled by grade school math and it's pretty obvious that you also don't understand basic accounting or economics either.

In 2006, the median annual household income was $48,201.00 according to the Census Bureau.  We all know that Get Big is heavy on plastic surgeons and hedge fund managers and light on security guards and students so our number is probably much higher  ::)

I know you like to get tangled up in minutiae and semantics(especially when you have nothing relevent to say) but the point of this thread (and my comment) was that I've paid a lot of money in taxes and Cap Gains tax has never been a big problem and I suspect that it's the same for a large portion of the US (and GB too).

How about you Beach Bunny?  You're the one on here who constantly mentions his business and bitches and moans about taxes.
How much did you pay in Capital Gains last year?

 
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 18, 2008, 07:02:59 AM
You've already admitted you're baffled by grade school math and it's pretty obvious that you also don't understand basic accounting or economics either.

In 2006, the median annual household income was $48,201.00 according to the Census Bureau.  We all know that Get Big is heavy on plastic surgeons and hedge fund managers and light on security guards and students so our number is probably much higher  ::)

I know you like to get tangled up in minutiae and semantics(especially when you have nothing relevent to say) but the point of this thread (and my comment) was that I've paid a lot of money in taxes and Cap Gains tax has never been a big problem and I suspect that it's the same for a large portion of the US (and GB too).

How about you Beach Bunny?  You're the one on here who constantly mentions his business and bitches and moans about taxes.
How much did you pay in Capital Gains last year?

 

There seem to be quite a lot of professionals on getbig so I think your assumption is quite low, but typical of a liberal to assume he knows better than anyone else.

Stick to the issue.. Obama is another tax and spend liberal without a doubt.  Even if McCain ends up doing the same thing there's no way to know right now.  As for Obama it's pretty much guaranteed. 
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 07:24:34 AM
There seem to be quite a lot of professionals on getbig so I think your assumption is quite low, but typical of a liberal to assume he knows better than anyone else.

Stick to the issue.. Obama is another tax and spend liberal without a doubt.  Even if McCain ends up doing the same thing there's no way to know right now.  As for Obama it's pretty much guaranteed. 

I'd bet a dollar that GB is similar to the US in terms of median income but that was not even the point of my post.

My point was that Cap Gains are not an issue for the majority of the population (including myself).

Borrow and spend is worse than tax and spend and the Repubs are masters of the borrow and spend and that's a redistribution of our national wealth to the countries who hold our debt and the private contractors/industries with ties to the administration who get no bid contracts and waste our money.

Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: youandme on August 18, 2008, 08:44:27 AM
I'd bet a dollar that GB is similar to the US in terms of median income but that was not even the point of my post.

If were going to bet let's raise the ante to 10,000,000.00 hell, all in a days pay, right.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Decker on August 18, 2008, 10:22:49 AM
So if you make more you pay more in taxes. Congratulations on your success. Typical socialist crap.

This is why I'm not voting for that socialist knob. I don't need to give more of the money that I work for to Nobama and his liberal fascist hacks.

That money can be better put to use for my family.

The flip side of this argument is that you are defending typical elitest crap.  The insulation and protection of the wealthy is a fulltime job.  Any bite out of their bottom line seems to be characterized as socialism.

Couple that notion with the idea that government is fatally flawed and unable to perform the most basic of functions for America, (except for redistributing money/value via gov. contracts, free R&D, free infrastructure and free tax breaks to the wealthy), and we have a government by and for the people that does not and can not serve the interests of the people.

I see common societal interests beyond only the military and contract enforcement and those interests should be served....interstate infrastructure, education, alternative energy etc.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Decker on August 18, 2008, 01:34:10 PM
I'd bet a dollar that GB is similar to the US in terms of median income but that was not even the point of my post.

My point was that Cap Gains are not an issue for the majority of the population (including myself).

Borrow and spend is worse than tax and spend and the Repubs are masters of the borrow and spend and that's a redistribution of our national wealth to the countries who hold our debt and the private contractors/industries with ties to the administration who get no bid contracts and waste our money.


That's a great point.  Government not only is an organizational entity, it redistributes to effectuate organizational goals.  Government always redistributes wealth....for what purpose(s) is another matter.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: w8tlftr on August 18, 2008, 02:47:24 PM
How much did all the tycoons on this board pay in Cap Gains tax last year?

More than I wanted to (but 15 percent is better than 25). I also had to pay the AMT this year.

Did you?

Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: w8tlftr on August 18, 2008, 02:51:31 PM
The flip side of this argument is that you are defending typical elitest crap.  The insulation and protection of the wealthy is a fulltime job.  Any bite out of their bottom line seems to be characterized as socialism.

Couple that notion with the idea that government is fatally flawed and unable to perform the most basic of functions for America, (except for redistributing money/value via gov. contracts, free R&D, free infrastructure and free tax breaks to the wealthy), and we have a government by and for the people that does not and can not serve the interests of the people.

I see common societal interests beyond only the military and contract enforcement and those interests should be served....interstate infrastructure, education, alternative energy etc.

Decker, I think you and I have discussed this enough for you to know that I'm not defending typical elitist crap. I defend what is mine and my family's.

I respectfully disagree with you on the progressive tax system. I think it's wrong but still respect your position on it (because I can actually have a civil discussion with you).

Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Decker on August 18, 2008, 03:01:22 PM
Decker, I think you and I have discussed this enough for you to know that I'm not defending typical elitist crap. I defend what is mine and my family's.

I respectfully disagree with you on the progressive tax system. I think it's wrong but still respect your position on it (because I can actually have a civil discussion with you).


I'm not accusing you of doing that.  I'm just pointing out that government exists as an organizational phenomenon that redistributes wealth.  Taxation based on the ability to pay has a certain sensibility.  The redistribution of that tax income is a fact of government.  Whether that redistribution flows up or down is another matter...a policy matter.

I know you don't care for the progressive tax code and I respect that.  I disagree with that b/c I think those with the strongest arms should do the heaviest lifting....those that earn the most should pay more.

I enjoy your points of view as well.  Now if I could only make some headway into changing your views on that....
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: w8tlftr on August 18, 2008, 04:15:00 PM
I'm not accusing you of doing that.  I'm just pointing out that government exists as an organizational phenomenon that redistributes wealth.  Taxation based on the ability to pay has a certain sensibility.  The redistribution of that tax income is a fact of government.  Whether that redistribution flows up or down is another matter...a policy matter.

I know you don't care for the progressive tax code and I respect that.  I disagree with that b/c I think those with the strongest arms should do the heaviest lifting....those that earn the most should pay more.

I enjoy your points of view as well.  Now if I could only make some headway into changing your views on that....

The burden is a lot easier to lift when everyone does their part. It doesn't require those with the strongest backs to do more and those with weaker backs to do less. IMHO, it requires everyone simply do their part. The burden is distributed evenly and the weight is lifted. Otherwise those doing all the work become jaded and resentful towards those barely pulling their weight - especially when they are capable of doing more.





Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 18, 2008, 04:33:35 PM
My point was that Cap Gains are not an issue for the majority of the population (including myself).

Borrow and spend is worse than tax and spend and the Repubs are masters of the borrow and spend and that's a redistribution of our national wealth to the countries who hold our debt and the private contractors/industries with ties to the administration who get no bid contracts and waste our money.

So what?  CG not affecting the majority doesn't mean it's constitutional to harm those it DOES affect.  It's not a right to be able to punish people for being successful.  It IS a right to be able to have some say over how much of your income gets to be taken from the gov't, NOT everyone else's.

We do not live in a socialist country (at least, it wasn't intended to be).  Instead of saying tax and spend is worse than borrow and spend why don't we actually move to some real accountability for what IS spent.  Part of being free is not being taxed to solve every gov't blunder but to more closely control those who do get to decide where our tax dollars go.  We're taxed enough as it is, especially business'.  It's time to put some controls on the gov't vacuum, not enlarge it. 

Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 07:36:23 PM
What is it about neocons and the inabilty to understand simple math?

If you like the economic policies of George Bush and you think things are going just swell then vote for McCain.   

Wage earners (i.e. paid on a W-2) who earn less than 200k+ would be fools to vote for McCain soley on the issue of taxes. 

You know the old saying about a fool and his money
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: youandme on August 18, 2008, 07:39:11 PM
What is it about neocons and the inabilty to understand simple math?

If you like the economic policies of George Bush and you think things are going just swell then vote for McCain.   

Wage earners (i.e. paid on a W-2) who earn less than 200k+ would be fools to vote for McCain soley on the issue of taxes. 

You know the old saying about a fool and his money

Can you please start another thread titled "Obama clarifies Scope of Aborting a live baby, after birth"

That would be great.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 18, 2008, 07:50:09 PM
What is it about neocons and the inabilty to understand simple math?

If you like the economic policies of George Bush and you think things are going just swell then vote for McCain.   

Wage earners (i.e. paid on a W-2) who earn less than 200k+ would be fools to vote for McCain soley on the issue of taxes. 

You know the old saying about a fool and his money

Please.. the Dem assembly of Maryland is raping my paycheck as we speak. 

The idea is that a person has the opportunity in this country to be successful and make a lot of money if they try hard enough.  Me not making $200k and above doesn't mean I should vote for a guy who will take $$$ from those who do and give it to me.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 07:58:31 PM
Can you please start another thread titled "Obama clarifies Scope of Aborting a live baby, after birth"

That would be great.

what is it that you didn't understand in this thread?

if your AGI is > than 250k then you might have to pay 5% more on your cap gains.

is that too complicated for you?
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 08:00:02 PM
Please.. the Dem assembly of Maryland is raping my paycheck as we speak. 

The idea is that a person has the opportunity in this country to be successful and make a lot of money if they try hard enough.  Me not making $200k and above doesn't mean I should vote for a guy who will take $$$ from those who do and give it to me.

you'll have more money in your pocket with Obama

If you don't get that then vote for McCain

it is not complicated
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: youandme on August 18, 2008, 08:01:55 PM
what is it that you didn't understand in this thread?

if your AGI is > than 250k then you might have to pay 5% more on your cap gains.

is that too complicated for you?

Wow, you have shown your true colors in this thread from an internet millionaire to a complete dumbass.

Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 08:04:48 PM
Wow, you have shown your true colors in this thread from an internet millionaire to a complete dumbass.

I never said I was a millionaire dipshit

how about responding to my statement

it's not hard to understand (well maybe it is for you)
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: youandme on August 18, 2008, 08:08:43 PM
LMAO, I'm glad you understand simple numbers.

But I'd like to hear if you can even pinpoint on the effects of this revised tax porposal and how they relate to the warfare state colliding into a welfare state, and the processes of his plans of highlighting parliamentarization and bureaucratization into the costs of war to increase the momentum of diverting resources away from the military towards civilian employement and redisributive transfer.

According to you, the internet millionaire, that understand simple CGT. You can explain how the numbers of this new revision are WAY off with his social programs, unless of course he plans to bankrupt, and devalue the dollar.


Go ahead, were all ears.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 08:11:23 PM
LMAO, I'm glad you understand simple numbers.

But I'd like to hear if you can even pinpoint on the effects of this revised tax porposal and how they relate to the warfare state colliding into a welfare state, and the processes of his plans of highlighting parliamentarization and bureaucratization into the costs of war to increase the momentum of diverting resources away from the military towards civilian employement and redisributive transfer.

According to you, the internet millionaire, that understand simple CGT. You can explain how the numbers of this new revision are WAY off with his social programs, unless of course he plans to bankrupt, and devalue the dollar.


Go ahead, were all ears.


one thing at a time:

Why do you call me an internet millionaire?
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 18, 2008, 08:13:29 PM
you'll have more money in your pocket with Obama

If you don't get that then vote for McCain

it is not complicated

No I like not living in a socialist country.  If I ever hope to be rich one day I won't want the gov't stepping in to "fair" the income.

Free market capitalism isn't about punishing people for making money and giving it to people who haven't earned it.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 08:15:29 PM
No I like not living in a socialist country.  If I ever hope to be rich one day I won't want the gov't stepping in to "fair" the income.

Free market capitalism isn't about punishing people for making money and giving it to people who haven't earned it.

then vote for McCain

Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: youandme on August 18, 2008, 08:18:32 PM
one thing at a time:

Why do you call me an internet millionaire?

LMAO.

Go ahead take your time to google some stuff, but don't come back unless you can understand macroeconomics on a real world view instead of a boxed up socialistic agenda.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: youandme on August 18, 2008, 08:20:27 PM
I'd bet a dollar

Haha really while your betting that dollar Soros is beating against you, allint he hopes Obama gets elected and he is bale to devalue the dollar and make billions.

If you knew anything about economics or how to read into this stuff you would see Obama's revised plan, is going to cause alot of trouble for not only the rich but the poor, and the worst - Middle Class.

Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 18, 2008, 08:25:55 PM
then vote for McCain



No shit
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 08:29:31 PM
No shit

we're finally in agreement

you should vote for McCain
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 18, 2008, 08:36:14 PM
we're finally in agreement

you should vote for McCain

Alert the press.. this is earth shattering, lol.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 08:53:57 PM
Alert the press.. this is earth shattering, lol.

we agree that you should vote for McCain

but you were going to going to do that anyway

Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 18, 2008, 10:09:23 PM
we agree that you should vote for McCain

but you were going to going to do that anyway



I wasn't assuming you were to do the same.. of course.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 10:16:39 PM
I wasn't assuming you were to do the same.. of course.

lol - we actually are on the same page!
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 18, 2008, 10:19:52 PM
lol - we actually are on the same page!

not as funny as this tho..

http://www.getbig.com/boards/index.php?topic=229813.0
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 10:36:58 PM
not as funny as this tho..

http://www.getbig.com/boards/index.php?topic=229813.0

my favorite quote

this really is funny

.
.

I think Bush is being really honest here
.
.

".God Bless America ...yeah
.
This being an election year....you know

They're are wonderful people

Fine TAX PAYERS
.
.
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Brixtonbulldog on August 18, 2008, 11:00:21 PM
my favorite quote

this really is funny

.
.

I think Bush is being really honest here
.
.

".God Bless America ...yeah
.
This being an election year....you know

They're are wonderful people

Fine TAX PAYERS
.
.


Republican or Democrat

Always a politician..
Title: Re: Obama Clarifies Scope of Capital Gains Tax Hike
Post by: Straw Man on August 18, 2008, 11:30:38 PM
Republican or Democrat

Always a politician..

and also the guy that lies and says he is going to lower your taxes

the same guy that forgot to mention that he was going to borrow the shortfall, and then a little bit more

At least the service on the debt combined with the vacuum in the credit markets have finally created the elusive  "trickle down" effect

Reagan was right all along