Cut taxes for 95% of Americans

[The Real Bingo]

Originally Posted by outlaw2001it

I was just listening to a guy (on CNBC) that was with the Fed while Clinton was in office, and he stated that raising taxes on investors, and interest is a bad thing...because it will lead to 0% growth. Will get more information, and name once it comes back on again, or if I can find it from their website.

Not to mention it'll lead to overseas investing...especially if the markets overseas are rapidly growing. It's a win-win for the investor.

[MTAtech]

Originally Posted by outlaw2001it

So is this going to help the average American, and what about our taxes for the future (besides put it on the next President)? So more tax breaks are going to accomplish what? While our elected politicians keep spending our money, it's increasing our debt...we need money from somewhere to pay for this don't we? Taxing the rich/businesses isn't going to cover out debt (especially with this war), so shouldn't we be raising taxes sometime in the future? If not, there's going to be all kind of hell to pay somewhere down the line.

It's a conservative principle that one should have outflows that match inflows. In the U.S., everyone likes benefits, whether stimulus checks or defense spending nobody wants taxes.

We had budget surplus under Clinton and I didn't feel burdened by taxes back then. If we returned to the tax-rates of the 90's the wealthy would be paying a fairer share and we'd be in better shape.

raising taxes on investors, and interest is a bad thing...because it will lead to 0% growth.

That's nonsense. Nobody has every qualified why taxing workers who go to work everyday is fine but taxing millionaires' investments is a problem.

Every since there was an income tax the nation taxed investments and interest and there was plenty of growth since then.

[Pexster]

Investment capital flows to wherever the investor feels the risk/reward ratio is appropriate. Options range from the mattress to passbook accounts to Treasuries to large cap value stocks and so on all the way to junk bonds and start-ups and Ponzi schemes. The Big Spending Republicans always paint any tax increase, no matter how incremental, as moving U.S. investments into a new, off-the-chart area; low returns due to taxes and high risk due to uncertainty.

At some point, pragmatic and rational minds on the right will realize that our current fiscal policy of runaway spending and no taxation to pay for it is a major disincentive to investors. At that point, they can claim the cure is their idea, just like they have been with everything else Obama and the Democrats have been proposing lately.

[The Real Bingo]

Imagine The FairTax

[Theophylact]

Originally Posted by The Real Bingo

So only the rich have investments and earn interest? Oooooohhhhh-kaaaaaaayyyyyy...............

No, lots of people have investments. But almost of it is in IRAs and 401(k)s; they're earning money that will be taxed as ordinary income, not capital gains, when they withdraw the earnings. For them, an income tax cut will help; a capital-gains tax cut hasn't helped them at all.

[MTAtech]

Originally Posted by The Real Bingo

Imagine The FairTax

When one looks at who is funding the FairTax initiative, a collection of billionaires, you can assume that they don't support it because they think it will make their tax's rise.