Reflection of America's Mentality

[Dave_L]

http://kdvr.com/2013/01/21/phil-mick...er-retirement/

Just check out the comments. It's crazy how many comments are on there (270 last I checked). Not much middle of the road either. When success is looked down upon, you're royally screwed.

[nynco]

If we ended the biased and insane practice of artificially calling investment income not regular income, then the taxes on everyone else would not need to be raised to make up for those losses. Today we have over half of the income in America as investment dividends. Since that has been reclassified as different than work income, it is not subject to taxes like everyone else is. We live under a two tier tax system where the wealthy and the powerful don't pay like their "subjects"/normal workers.

I am sorry, but billion dollar earning bankers should pay taxes like every other American. Income is income.

Taxes are going up because the rest of us are losing income earning and the investment class is taking it all and pay next to no taxes either.

[SuperiorDG]

Yea I saw that and comments really made me think. How would those same people feel if they won the lottery and had to give over half of it to the government?

[nynco]

basically taxes are rising because over 50% of income is now classified as dividends income. So the pie of what can be taxed is shrinking. So taxes have to go up. We could cut everyones taxes (except the dividend earners) by ending that artificial gov creation. Income is income. I don't want to subsidize bankers and make a Dr or you pay more to subsidize wallstreet parasites.

[HoneyBadger]

basically taxes are rising because over 50% of income is now classified as dividends income. So the pie of what can be taxed is shrinking. So taxes have to go up. We could cut everyones taxes. Income is income. I don't want to subsidize ANYONE

I *might* agree with you for the first time ever.

[nynco]

I don't think any form of income should be taxed any different. We are currently making middle class people pay a higher taxrate than hedge fund managers. This inturn cause countless other problems in our economy and gov. It incentivizes gambling and not investing in sound businesses.

What I would do is make losses deductible from income to cover your "risk" and then make losses in the dollar over time to inflation deductible over the time of the initial investment. The last one is key because it would stop all the manipulations of the CPI (consumer price index or rate of inflation). Currently the CPI has been manipulated by the bankers and the gov they own to never show the true rate of inflation anymore. This makes it easier for them to never give you a raise (because most people don't get it) and to allow the gov to never keep SSI payments at the true cost of living change. If the CPI effect wallstreet like mainstreet, then we would get the truth. If we use the metrics used in the 1960s to measure inflation, inflation would be shown to be in the double digits for over 2 decades. Not the fantasy they sell us.

[ChunkyMonkey]

I don't think any form of income should be taxed any different. We are currently making middle class people pay a higher taxrate than hedge fund managers. This inturn cause countless other problems in our economy and gov. It incentivizes gambling and not investing in sound businesses.

What I would do is make losses deductible from income to cover your "risk" and then make losses in the dollar over time to inflation deductible over the time of the initial investment. The last one is key because it would stop all the manipulations of the CPI (consumer price index or rate of inflation). Currently the CPI has been manipulated by the bankers and the gov they own to never show the true rate of inflation anymore. This makes it easier for them to never give you a raise (because most people don't get it) and to allow the gov to never keep SSI payments at the true cost of living change. If the CPI effect wallstreet like mainstreet, then we would get the truth. If we use the metrics used in the 1960s to measure inflation, inflation would be shown to be in the double digits for over 2 decades. Not the fantasy they sell us.

Then push for flat tax. Oh wait.. that aint fair per the left. The system is originally designed to encourage growth - however corrupted, it is still doing what it's designed to do. Anything extreme is bad.. extreme growth typically = corruption.. Nevertheless, what you are purposing sounds like 'the great leap forward,' fair taxation and workers' rights. We know how that turned out.

[nynco]

Then push for flat tax. Oh wait.. that aint fair per the left. The system is originally designed to encourage growth - however corrupted, it is still doing what it's designed to do. Anything extreme is bad.. extreme growth typically = corruption.. Nevertheless, what you are purposing sounds like 'the great leap forward,' fair taxation and workers' rights. We know how that turned out.

Our system is NOT designed to encourage growth, it is designed to encourage short term gain over long term viability and health. Please tell me why in the heck we give taxbreaks to companies that ship production overseas? IS that designed to do this nation long term good? Please tell me why a banker should get a lower taxrate than a small business owner? All it does is reward gambling. Gambling that nearly destroyed our economy. We need to raises taxes on dividends to the same level as everyone else. Then investors would invest for the long term instead of going for the quick dollar regardless of long term health of the nation. Eating your legs may make you less hungry but tomorrow you may need to run.

[Gman]

They were taxed on the income that they earned to put into the investment. Investment is a risk. You can win or you can lose. It's a risk/reward proposition. If you want to take away any incentive to investment, there goes the economy. There goes the jobs.

Investment isn't about "rich people". I'm not rich, but I invest in a 401K so that I can maybe someday retire.

Since when did the desire to become rich become such a bad thing? Why the class warfare? Taking money out of the private sector and putting it into the public sector (i.e. government) isn't good for anyone, no matter where it comes from. Going after the wealthy gains you what? That's right, NOTHING!

...but I'm seeing how your thinking would have you voting for Obama.

Increasing taxes solves nothing but feeding the government monster. This government is so addicted to spending that increasing taxes barely slows the hemorrhaging. You can't tax your way back to prosperity because higher taxation is a disincentive to higher earnings. Every time the federal government has reduced taxes to stimulate the economy it has worked.

[Ronin13]

nynco... STOP! You sound like every single idiot liberal on this subject. If you don't know how it works, don't assume shit. First, most investments are made with ALREADY TAXED INCOME- it would be retarded to tax people twice on the same money... Second, people tend to spend what they make, it's not like the millionaires and billionaires just stuff $100,000 in their mattresses every month. You make $50K a year you buy a house that you can afford, then pretty much spend the rest on what is commensurate to your income. You make $2M a year, you buy a house you can afford and spend nearly all the rest on various things as well.

Nynco, have you ever purchased stock before? If so, did they let you use pre-taxed income to do so? No, that's not how it works.