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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Benny B on October 04, 2008, 01:18:47 AM
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Buffett endorses Obama AND his tax plan. ;)
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BB?
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BB?
???
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???
can't wait th hear BB's thoughts on this.
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can't wait th hear BB's thoughts on this.
That should be spelled out as "Beach Bum", as the REAL BB created this thread. ;)
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Now Warren Buffet joins Colin Powell on the traitor list, right Joe?
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That should be spelled out as "Beach Bum", as the REAL BB created this thread. ;)
he knows who i'm talking to.
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Obama mentioned he wanted to raise Capital Gains from its current 15% to 20-25%.
consider this:
First, the capital gains tax is usually thought of as a "rich man's tax." After all, only capitalists have capital gains, right? That was mostly true in the 1930s, when capital gains were first treated differently from other kinds of income. It's not true today, when over half of American households own financial securities. The vast majority of capital gains taxpayers today are solidly middle class. In 2005, 47 percent of households paying capital gains taxes had incomes below $50,000, and 79 percent, almost four out of five, had incomes under $100,000.
Second, Obama has said an increase in capital gains taxes would increase federal revenues, but when the tax was raised in 1986, from 20 to 28 percent, tax receipts went down, not up. People just stopped realizing capital gains. When Bill Clinton signed a reduction in the tax rate into law in 1997, however, receipts soared. They soared again after 2003, when the tax was further cut to 15 percent. Capital gains tax receipts actually doubled in the next three years.
Third, stock prices are determined by the market's best guess as to future earnings. If you raise the capital gains tax you inescapably lower the possible future earnings on all stocks. So what happens? The market goes down. A capital gains tax hike is a perfect way to cause a bear market, or make one worse.
Fourth, in a globalized economy, a capital gains tax increase would discourage investment in the US from abroad, where capital gains taxes are often lower.
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Obama mentioned he wanted to raise Capital Gains from its current 15% to 20-25%.
consider this:
First, the capital gains tax is usually thought of as a "rich man's tax." After all, only capitalists have capital gains, right? That was mostly true in the 1930s, when capital gains were first treated differently from other kinds of income. It's not true today, when over half of American households own financial securities. The vast majority of capital gains taxpayers today are solidly middle class. In 2005, 47 percent of households paying capital gains taxes had incomes below $50,000, and 79 percent, almost four out of five, had incomes under $100,000.
Second, Obama has said an increase in capital gains taxes would increase federal revenues, but when the tax was raised in 1986, from 20 to 28 percent, tax receipts went down, not up. People just stopped realizing capital gains. When Bill Clinton signed a reduction in the tax rate into law in 1997, however, receipts soared. They soared again after 2003, when the tax was further cut to 15 percent. Capital gains tax receipts actually doubled in the next three years.
Third, stock prices are determined by the market's best guess as to future earnings. If you raise the capital gains tax you inescapably lower the possible future earnings on all stocks. So what happens? The market goes down. A capital gains tax hike is a perfect way to cause a bear market, or make one worse.
Fourth, in a globalized economy, a capital gains tax increase would discourage investment in the US from abroad, where capital gains taxes are often lower.
Obama never said he would raise taxes on corps, so your entire post is worthless... he said "I will close coorp loop holes"
Get your facts straight buddy...
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Obama never said he would raise taxes on corps, so your entire post is worthless... he said "I will close coorp loop holes"
Get your facts straight buddy...
You sure dont know alot about your canidate..... of course he often changes his stance based on what is popular so I dont blame you entirely... buddy......
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You sure dont know alot about your canidate..... of course he often changes his stance based on what is popular so I dont blame you entirely... buddy......
Did you hear what he said.. "i will look at it" he didn't say YES or NO... Why should a company pay less than their janitors in taxes?
Do you think companies should get tax breaks and ship jobs overseas? FUCK EM, if they ship jobs over seas pay 40% taxes, if they keep them here taxs them 10% and WATCH the ECONOMY GROW....
he gave a educated common sense response. Maybe you want that credit card from the back of China with our kids names on it like mcCain?
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Did you hear what he said.. "i will look at it" he didn't say YES or NO... Why should a company pay less than their janitors in taxes?
Do you think companies should get tax breaks and ship jobs overseas? FUCK EM, if they ship jobs over seas pay 40% taxes, if they keep them here taxs them 10% and WATCH the ECONOMY GROW....
he gave a educated common sense response. Maybe you want that credit card from the back of China with our kids names on it like mcCain?
anyone that supports Obama's economic polices simply does not understand the basic principles of Economics.
Look at what you are saying here dude. You are talking about complete govermental interference with bussiness. Where does it end?
And last time I checked foreign investment was good for our economy.
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anyone that supports Obama's economic polices simply does not understand the basic principles of Economics.
Look at what you are saying here dude. You are talking about complete govermental interference with bussiness. Where does it end?
And last time I checked foreign investment was good for our economy.
agreed
Buffet is clearly a dumbass
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agreed
Buffet is clearly a dumbass
LOL... Buffet is no dumbass but I don't think he's truly out for the "little" people.
I think Buffet is out for Buffet and people like Buffet.
Yeah... I'm cynical.
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LOL... Buffet is no dumbass but I don't think he's truly out for the "little" people.
I think Buffet is out for Buffet and people like Buffet.
Yeah... I'm cynical.
Yeah, he is out only for Buffett. I'm sure that secretary in his corporate offices shown on the video makes the same amount of money he does. ::)
IDIOT
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Yeah, he is out only for Buffett. I'm sure that secretary in his corporate offices shown on the video makes the same amount of money he does. ::)
IDIOT
Shut up, robot Obama-Bot.