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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (117764)2/16/2009 2:32:03 PM
From: GuinnessGuy1 Recommendation  Read Replies (2) of 132070
 
Mike,

you wrote-

"Actually, depreciation of real estate may be more realistic in the near future. It already is for some right now."

Yes, but the point is that it's been unrealistically low for so long. And while there's nothing wrong with low taxes, per se, there is something wrong with relatively low taxes when compared to the taxes on productive asset profits. It's no wonder this country has fallen so behind in manufacturing. And it will continue to do so IMO so long as taxes favor investment in non-productive assets.

The dots I never connected before were that these lower taxes inflated the price of real estate, thus inflating the profits of the money lenders(read: Wall Street). So the money leaves the coffers of gov't only to be paid to these schmucks. As much as a distrust government to spend wisely, giving to these guys on Wall Street is a much more iffy proposition.

It's no wonder that Wall Street has given so much to political campaigns. I think Obama got $100 million in his run for the White House from these guys.

Which brings me to the simple question as to why it would be so hard to limit political contributions to just individuals with the limits about where they are($2300?)? That might solve a bunch of problems down the road.

craig
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