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Technology Stocks : Apple Inc.
AAPL 273.67+0.6%3:59 PM EST
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To: KeepItSimple who wrote (55776)8/12/2006 1:44:09 PM
From: Cogito  Read Replies (1) of 213177
 
KIS -

Of course, capital gains are also taxed. And so is interest income. Does this make things "easier" for laborers? Well, it does give the government more money to spend, which means that the government won't run into deficits as quickly, given a constant level of spending.

In the nineties, one of the main reasons for the Federal goverment's surpluses was the fact that the market was doing so well meant a windfall in terms of capital gains taxes.

By the way, you mentioned the example of a guy with 500 trillion in the bank, and asked what good it did to have the government take away 99% of his wealth through taxation. Of course, that isn't the way it works. People are not taxed on the amount of money they have in the bank. Tax is collected only on the amount of interest generated by that money.

- Allen
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