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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (14347)	4/2/2012 1:20:14 PM
From: TimF	Respond to of 85487

I would leave a capital gains tax in place So there would be no taxes on ordinary income, but there would be taxes (and at today's or higher rates, and without any index for inflation so you could pay taxes on a real capital loss) on capital gains (and then pay again if you every buy anything with the money you get from any capital gain). That' sounds pretty bizarre and a good way to discourage investment.

To: Steve Lokness who wrote (14347)	4/2/2012 1:25:26 PM
From: Brian Sullivan	Read Replies (1) \| Respond to of 85487

Great so everyone pays an equal percentage of their income to pay for the government. Now we currently have a 33% budget deficit which appears to me to be structural, should everyone's taxes go up by 33% or should the size of the government be reduced by 33% or some combination. I'll start with a 33% cut in the defense budget which includes the elimination of all foreign wars. Since the defence budget is about 20% of the total federal budget that would save 6.7%, so now there remains a 26.6% gap that you must fix by cutting government entitlements or raising everyones taxes. What is your proposal? More entitlement programs such as "free health care" for everyone?