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

To: Broken_Clock who wrote (862357)	6/4/2015 12:04:02 PM
From: i-node	1 Recommendation Recommended By FJB Read Replies (3) \| Respond to of 1578162

>> Even the poorest of the poor pays taxes. The poorest of the poor do not pay taxes because they have no taxable income. They have no car, hence no gas taxes, no real estate, etc. They get enough EITC to cover any social security tax they happen to stumble into. I obviously haven't researched it, but I doubt most poor people pay a nickel on a net basis. >> Of course the .001% wants the taxes like a gas tax, which means nothing to the .001%. Here is the thing that the high-tax left doesn't understand: a 0.001 percenter is probably involved in a very large number of business deals annually. Perhaps no one deal is affected by a 5 point increase in the capital gains tax. But some of them will be, and when aggregated over the thousands of business deals these people enter into collective, there will be an adverse economic impact. Deals that would have benefited ordinary people will not be done as a result of a small increase in the effective tax rate. But perhaps the economy will barely notice it. Sort of like the Affordable Care Act tax capital gain increase. It just costs everyone who makes a lot of money a little more but no one says anything about it. But you start noticing economic growth isn't happening, jobs growth isn't happening, we're just sort of stagnated. And you can't blame it on the tax because you can't prove it is the tax causing the problem vs. some other stupid policy move like the insurance mandate or dumbasses increasing the minimum wage. Whatever. But if you come along an increase the tax rate on capital gains a lot, like Sanders is wanting to do, it matters. The economy not only doesn't grow, it shrinks, seriously and capital formation becomes difficult because the after tax risk/reward just isn't there. Then you have real problems.