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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (570866)	6/8/2010 6:20:45 PM
From: Tenchusatsu	1 Recommendation Read Replies (1) \| Respond to of 1583937

Ted, from the blog: > If I were to create a list of questions to ask potential managers of my money, one of them would be: “Do you read the WSJ OpEds?” If the answer were yes, I would not walk but run in the opposite direction. Given the author's naked partisanship, maybe he should let Obama "manage" his money. Tenchusatsu

To: tejek who wrote (570866)	6/8/2010 6:26:03 PM
From: TimF	Respond to of 1583937

As everyone else in America is well, aware, both Gates and Buffett have committed their vast wealth to charitable foundations. Hence, the issue of “nontaxed unrealized capital gains” is simply irrelevant. They held the bulk of their wealth in untaxed capital gains for a long time before they put much of it in charitable trusts, and those trusts are larger, because the money wasn't taxed away years before. • “At the tax boundary of Jan. 1, 1983 the economy took off like a rocket, with average real growth reaching 7.5% in 1983 and 5.5% in 1984.” Again, factually accurate but totally misleading. At most partially misleading. Lower marginal tax rates played an important role here, even though they where not the only factor. • “Today, corporate profits as a share of GDP are way too high given the state of the U.S. economy” After their many deductions, special legislative favors, un-repatrioted overseas profits, and too clever by half accounting, US corporations pay a very small percentage of their profits as taxes. Decades of lobbying has created massive loopholes. You get more lobbying for loopholes, and more use of existing loopholes, at higher rates than lower rates. Companies spending resources on such lobbying, and making investment decisions distorted by the tax effects, are part of the loss caused by high rates.