Sunday, November 6, 2011

Why do Liberals think capitol gains taxes are something only rich people pay? Bush's tax cuts are expiring?

Yeah. Though my stock purchase plan, it's enabled me to increase my savings. I still pay taxes on it, but would be able to save less when they go up, as well as that 5% surcharge they want to make on every wall street transaction in order to pay for healthcare (wait, I thought it was supposed to be deficit neutral? And that taxes weren't going to go up on people making less than $250K/yr??). States benefit, too, on income realized through investment. With less gains if the market is considered overbought due to a a decrease in value due to taxes, everyone will end up making less money. That is why most states are in such dire financial straights. Socialist programs only work when people are making money to tax.

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