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

To: Elroy who wrote (607606)	4/13/2011 12:18:20 AM
From: Jim McMannis	1 Recommendation Respond to of 1580442

That is what we had on FL...glad we got rid of it. Regressive tax penalizing people who are savers. Those with enough money could even avoid it by setting up in another state of lying about their state or residency. kulzick.com

To: Elroy who wrote (607606)	4/13/2011 3:46:39 PM
From: steve harris	Read Replies (1) \| Respond to of 1580442

My bank and brokerage accounts are offshore. :) Let's raise liquor taxes to the same level as cigarette taxes are... It's glaring the libs won't let you eat a Happy Meal, but don't touch their alcohol.

To: Elroy who wrote (607606)	4/21/2011 7:46:32 PM
From: TimF	Respond to of 1580442

What do you think about the idea of taxing bank and brokerage account balances (wealth tax), rather than taxing buys and sells? I've never understoof why a guy who buys $100 of IBM and sells it for $200 two years later should pay taxes, while if he didn't sell it he shouldn't pay taxes. The guy who didn't sell hasn't realized any profit, and may still take a loss. Also even realized gains are often fictional, but get taxes anyway. Buy for $100, then sell after a period that totaled 100% inflation, for $200, and you've only broken even (even if you have $0.00 commissions, and no other costs which is unlikely), but you get taxed on $100 of "profit".

To: Elroy who wrote (607606)	4/21/2011 7:58:07 PM
From: i-node	1 Recommendation Respond to of 1580442

I've never understoof why a guy who buys $100 of IBM and sells it for $200 two years later should pay taxes, while if he didn't sell it he shouldn't pay taxes. $200 of IBM stock is essentially the same as $200 of IBM stock. How can you NOT understand that? WE have NEVER taxed people on unrealized profits. If you did, where does it stop? If my sole asset is a substantially appreciated piece of real estate worth a million dollars, are you going to force me to sell the property in order to pay the taxes that would be due if I actually converted it cash? Do you have any idea what the consequences of such a provision would be to our economic system? Funny.