How Wealth Redistribution Has Broken the Back of America

Discussion in 'Too Hot for Swamp Gas' started by philnotfil, Oct 7, 2013.

  1. OklahomaGator
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    OklahomaGator Moderator VIP Member

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    He wont pay taxes on the increase in value of his restaurant until he sells it. He will pay taxes yearly on the income he makes off of the restaurant.
  2. HallGator
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    HallGator Administrator VIP Member

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    Understood, that wasn't really my point. I'm saying why the grousing about paying taxes on what is earned? I understand if someone needs to cover their risk but why after that? I know I pay taxes that others don't pay and it really just doesn't make me mad. Which doesn't mean I don't think government waste and largess does not need to be addressed or that taxes could stand to be lower. More idle ruminations than anything.

    Sort of the like the "where does the money go" question. One that has always interested me.
  3. rpmGator
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    rpmGator Well-Known Member

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  4. billfisher65
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    billfisher65 Premium Member

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    Oh you don't need the middle class to buy goods. Hell, take a ride down to any ghetto or govt subsidized housing and youll see what I mean. Wait a minute you're right Im wrong. Because with no middle and upper class paying their taxes those people don't get to go spend FREE money.
  5. rpmGator
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    rpmGator Well-Known Member

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    Maybe jobs that pay enough they add taxpayers would help

    Even Scott knows better jobs lower the cost to government
  6. HallGator
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    Jobs and small business is what this country needs more of. Less consolidation in one place to offset "Too Big to Fail" corporations.
  7. Lawdog88
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    Lawdog88 Well-Known Member

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    Although I understand the math, in a way it seems counter intuitive for someone who has poured their life blood building a business from nothing into a real big something that becomes very valuable, to be taxed an additional 20% on the improvements to the business when the owner sells and takes his life blood efforts (profits) out of the business.

    Passive investing producing capital gains, I can understand more easily.

    It's almost like the government is saying, "we don't mind you pursuing the Horatio Alger dream and working your azz off trying to get rich, but we don't want you to get that rich, so give us a little bit more."
  8. QGator2414
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    QGator2414 VIP Member

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    That income was still taxed when it was earned! The estate tax should go away. And in doing so I have no issues with removing the step up in order to tax the gains from point of investment. Though cap gains should be taxed very low IMO...

    Totally agree our tax code is a mess. Hence I am for the Fair Tax or a Flat Tax with No deductions or credits...
  9. QGator2414
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    QGator2414 VIP Member

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    Agreed but government keeps the fascism alive. Most recently with obamacare. Before that with TARP which W and Obama both supported.
  10. fredsanford
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    fredsanford VIP Member

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    You don't know what the word fascism means.
  11. oaklandroadie
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    oaklandroadie Well-Known Member

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    I think very few understand that businesses rarely expand out of their profit account. No matter how well a business is doing, most expansion comes from the capital account, which is created by borrowing and investing. Take capital away, and you grind expansion to a halt, no matter how well the business is doing.
  12. HallGator
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    I don't argue with this at all. I have some property I've done improvements to and it should sell for a bit more than I paid. I will run into the same thing from my understanding although I have heard there are ways to mitigate this.
  13. QGator2414
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    QGator2414 VIP Member

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    Awesome response!

    Sadly typical of you..

    :smoke:
  14. Swamper
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    Swamper New Member

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    the size of the bloated, corrupt federal govt should be cut about 60%--change the tax system to tax all income of any type, anywhere in the world at 10-15%---no deductions, exclusions, preferences, credits.....----all income taxed at one or two rates max. Simple, easy to administer, less cheating and the government provides only basic, essential services.
  15. Gatorrick22
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    Gatorrick22 Well-Known Member

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    We don't pay them that money it's just that much less money received in revenue/taxes that the government has to redistribute to the voters that will vote for them again and again.

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