By using this site, you agree to our Privacy Policy and our Terms of Use. Close
Allfreedom99 on 04 August 2011
Edit Thread
richardhutnik said:
Allfreedom99 said:
In addition to what I stated above there are a number of other things that need to take place to help spur job growth. It includes reducing corporate income tax levels, and eliminating capital gains tax. People on the left side of politics will yell and scream that we are just helping the rich. Well, honestly its just smart economics that in a time of slow job growth you ease the burden of tax on businesses and taxes on profits. allowing companies to keep more money will in turn allow them to spend more money on hiring more workers. It would just be inevitable maybe not for all businesses, but for many of them. Also reduce unecessary regulations. There is too much regulating going on, and it gets in the way of the engine of a free market society.

Doing these three things in addition to reforming the overall problem in the education system puts our economy on a better positioning for more jobs, more entrepreneurial ideas, and more growth.

Ok, so run a system like this:

* Eliminate all capital gains taxes.  Individuals sell paper assets for a profit and don't pay taxes on it.

* Eliminate the alternate minimum tax, so that individuals pay no income taxes at all.

* Eliminate the inheritance tax, so that individuals receive a large lump sum all at once, and no money is taken out by the government.

So now, the only taxable revenues would be off dividends.   Would you rather have the dividends taxes on the individual or corporate level?   If so, what tax rate do you want to set it at?  Or, do you want there to be no taxes paid on dividends by anyone?

Ok, say you want to do, as the last administration did, and had dividends taxed on the corporate, not personal level.  Want to know what system you have created?  Well, you have a system where increasing numbers of people who are rich have exempted themselves completely from the tax structure. 

Now, let's say we do FULLY want you want, and you shape the economy to the position where you feel is ideal, where there is almost no government regulations, people are limited on how much they can sue for, money is free to flow whereveer, individuals can invent what they want, and so on.  Are you promising in your ideal world, that there will never ever be a recession or economic slowdown again?  Or if it happens, then what?  What will happen to reverse slowdown?  In your ideal world, what would the unemployment rate be? 

Im not advocating that this system will be impervious to a recession or economic slowdown at all. That dream is a utopia that we will never really experience. Leftist views try to paint a picture of utopia with their policies. I am not claiming that. This is earth. We know that to earn much one needs to work much. If you put a lot of sweat and work into something you should have the right to expect something great out of it and a profit.

Im saying that using the Capital Gains tax basically punishes people for saving and investing. Why would we want to discourage saving/investing?  If more people in this country do that it will create a stronger foundation, and a firm financial backbone. All I am saying is that if you free up burdens on an economy it frees up room for growth. That is my whole point. Maybe a video that goes along with what I am saying is here:

http://www.youtube.com/watch?v=_yXINN1tD54