Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: engineer who wrote (186658)	12/23/2015 12:49:40 PM
From: Art Bechhoefer	2 Recommendations Recommended By david1951 HerbVic Respond to of 213176

Good points on short term tax rates. I assume that would be on profits, not on the total transaction. Some representatives in Congress want something like a 1/2% tax on all transactions, on the theory that the more quick trading you do, the more taxes you pay. That is not nearly as good a solution as yours, which is not too different from what Warren Buffett has been advocating for the last 30 years. Except that Buffett thought that capital gains on any transaction less than a month from open to close should be taxed at 99%(!). Additionally, it would be sensible to reduce the corporate income tax rate to 20% and at the same time eliminate most of the tax subsidies, special credits, deductions, etc., that distort the current tax system. With a 20% tax rate, most corporations that try to devise ways of holding assets and profits overseas to avoid taxes will be motivated to repatriate. A 20% tax with few deductions and credits (allowing for the R&D deduction and virtually no others) would be revenue neutral. Art