[Purple Haize]

Nothing wrong with gaziilionaires!
Since when was making a lot of money a thing to be vilified for

If we are all about 'the founding fathers' a lot of them were pretty loaded as well!

[From the class of 09]

Where did the money come from to invest? He paid taxes on the money he invested. And he is paying taxes on themonet THAT money is making him. The factory worker is just being taxed on his wages. Romney brought his resources (financial equity) to the table and the laborer is bringing his resources ( sweat equity) to the table. You can't tax sweat equity, you can tax financial equity. I do agree that a nice flat tax would be better. If I make $1 million I will still pay more then if I make $20k.

Purple you described the difference between capital gains and W-2 active income. My question is why should they be taxed at different rates? As they are both income.

When you hear about double taxation the talking heads are referencing corporations already paying taxes and then investors paying capital gain taxes again not the example HO gave above. What the talking heads fail to mention is that corporations rarely (never) pay real taxes of 35%. But again that is another conversation, and if you're interested you should read the article i gave early on Google. I was just pointing out HO’s misrepresentation of the double taxation.

The estate tax would be considered double taxation but the big advantage that everyone misses with the estate tax is step up in basis. This can be a huge benefit to most Americans estate that fall in the less than $5 million category. We don’t want generational wealth anyways it’s a bad model, ask Europe.

My overall theme with taxes is they are too complex and need to be simplified. I want flat rates no deductions. Pay what you owe and move on. Also, I have no problem with anyone making money but if you think the wealthy haven't manipulated the system in their favor you my friend are a frapping idiot. Also the poor need to pay a net tax I don't like 47% of tax filers getting a free ride (or why do they get a vote). No representation without taxation! I believe that something like this would result in lower taxes overall. But I can't prove it

Did I tick off everybody yet? Tax policy is my pet peeve.

[R i]

There should be corporate tax cuts for companies that do things to benefit the American economy. But 09 I agree 100% Only if we had been running the country not a made up software company.

[From the class of 09]

There should be corporate tax cuts for companies that do things to benefit the American economy. But 09 I agree 100% Only if we had been running the country not a made up software company.

No doubt we were the AAPL of policy simulation games. It's best to ignore the fact that we almost lost the entire thing after a trading glich (insider trading)

[R i]

we would fit in in washington

[jbock13]

15% flat tax on all Americans.

But then that means Democrats (and apparently Newt) can't play class warfare games anymore.

Oh well...

[From the class of 09]

15% flat tax on all Americans.

But then that means Democrats (and apparently Newt) can't play class warfare games anymore.

Oh well...

wait did we just agree on something political

[thepostman]

flat tax would make to much sense. This is the American government, so it just won't work!

[FigurinItOut]

What do y'all think the "dirt" is that Nancy Pelosi claims she has on Newt?

Please, PLEASE, don't let it be that he had an affair with her. I really don't think I could vote for a man who's slept with that woman!

[jbock13]

15% flat tax on all Americans.

But then that means Democrats (and apparently Newt) can't play class warfare games anymore.

Oh well...

wait did we just agree on something political

I ignored all you said that I disagree with so I could agree on that one thing.

[jbock13]

I guess we arrive at the same conclusion, we just have much different ways of getting there.

[TDDance234]

What do y'all think the "dirt" is that Nancy Pelosi claims she has on Newt?

Please, PLEASE, don't let it be that he had an affair with her. I really don't think I could vote for a man who's slept with that woman!

Are you kidding? He gets a pat on the back for slaying the beast.

[Purple Haize]

And by 'slaying' you mean 'riding'

[jbock13]

Well Newt did cuddle on the couch with her...

[Humble_Opinion]

Purple you described the difference between capital gains and W-2 active income. My question is why should they be taxed at different rates? As they are both income.

The answer I'm guessing ultimately comes down to control over the actions of an individual. By keeping the rate lower at 15% you encourage investment, which plays a role in keeping the worker employed (invisible hand). Also, your statement regarding the inequitability of the tax liability between the worker and the investor is potentially flawed. Who is to say they aren't already paying the same rate? Roughly 90% of full-time staff at LU would likely be in the 15% brackets... and after all of the deductions they receive it's likely much lower than that.

When you hear about double taxation the talking heads are referencing corporations already paying taxes and then investors paying capital gain taxes again not the example HO gave above. What the talking heads fail to mention is that corporations rarely (never) pay real taxes of 35%

I stand corrected on the 'official' definition of double taxation . Can you really blame the corporations for wanting to get out of paying a 35% rate though? In comparison to the rest of the world - that's huge. I mean human nature dictates that if any advantage can be gained, one will take all actions to obtain it.

My overall theme with taxes is they are too complex and need to be simplified. I want flat rates no deductions. Pay what you owe and move on. Also, I have no problem with anyone making money but if you think the wealthy haven't manipulated the system in their favor you my friend are a frapping idiot. Also the poor need to pay a net tax I don't like 47% of tax filers getting a free ride (or why do they get a vote). No representation without taxation! I believe that something like this would result in lower taxes overall. But I can't prove it

I don't think anyone is going to disagree, or get ticked at this statement on these boards. If they do then they would probably be a part of the 47%

[Purple Haize]

Romney beat the poop out of Gingrich tonite.
1- newt said what he says in interviews shouldn't be fair game in a debate. Romney said you should be able to defend here what you said elsewhere.
2- Newt attacked Romney's investments and Romney asked if Newt had checked his own investments.
3- Newt is not a good front runner
4- Romney got ticked when Newt said he was anti immigrant. Romney demanded an apology stating his mother is Welsh and father Mexican
5- is Santorum running for President or Gov of Mass? When he talks healthcare he doesn't seem to understand the difference between federal and state.
6- our problem is not 11 million grandmothers
7- Paul provided great relief from the bickering but his Cuba answer just reaffirms why I totally disagree with his foreign policy.

[Purple Haize]

BREAKING NEWS:
Brent Odonnel is a former debate coach at Liberty University now working with the Romney campaign. This according to CNN, so it's probably wrong.

[jbock13]

Here's my breakdown of the debate.

Mittens is still a liar and a flip flop.
Newt Gingrich should drop out and go live on the moon.
Santorum is still auditioning for the Papacy.
Ron Paul is the only candidate who understand economics and would abolish the TSA.

[R i]

I still think the answer to this thread is.. None.

[jbock13]

Thanks for your input. And what is the basis for your reasoning? 9% unemployment? Energy costs through the roof? National debt spiraling out of control?

[LUconn]

Why do we argue and try to convince each other that we're right and they're wrong if when someone might actually be convinced and change their mind, they're a flip flopper?

Even worse, we're so concerned about being labeled a flip flopper, we'll never change our mind no matter how wrong we may realize we are.

[R i]

Its only January, the elections are not until November. So much can happen between then and now. That being said, I will be surprised if Obama does not beat Romney. I have no dog in the fight yet.

[jbock13]

Good question LUconn, let me give it a shot here.

As you all know, I've done a flip flop on Ron Paul. Mitt hides behind "oh I've always been this way," whereas in my example I make it clear that I've changed my mind, and gave the reasons why. In my mind, being a "flip-flop" politician is saying one thing to one crowd, and then saying something completely different to another. Mitt, when running for Governor in MA, said he was an independent and pro-choice. Now, running for President, he runs around telling everyone he is pro-life, when prior evidence seems to the contrary.

That, and when you say you support the Second Amendment because you hunt, you obviously don't understand the real context behind it. Second, how did you buy a gun when you were a kid? That's illegal.

Here's a good ad from McCain in 08 on Romney's changes... A Tale of Two Mitts.

[youtube]

[/youtube]

[RubberMallet]

Why do we argue and try to convince each other that we're right and they're wrong if when someone might actually be convinced and change their mind, they're a flip flopper?

when have you ever heard a politician tell you they changed their mind? never. the majority of people see it for generally what it is. pandering.

[ALUmnus]

Why do we argue and try to convince each other that we're right and they're wrong if when someone might actually be convinced and change their mind, they're a flip flopper?

when have you ever heard a politician tell you they changed their mind? never. the majority of people see it for generally what it is. pandering.

Actually, one of these candidates has said multiple times throughout the campaign that he's been wrong on stuff in the past. They've all been wrong in the past, and still are on many things, but only one has actually admitted it.

I hate that this whole thing has turned so ugly. Ron Paul started it, and Romney just amped everything up to absurd levels. The whole thing is just really depressing now.