Political Posts

[Malmqky]

Almost like when you ignore the shitty politicans and chronically online trolls, the US is a welcoming, friendly, accepting place for all people. At least much more so than many countries out there....

[Red Lion]

1 hour ago, 73 Reds said:

Right.  Getting rid of the capital gains tax altogether would be a fine solution.

 

I wouldn't complain about that, although I do think our government needs to be funded somehow, I'd love to see reduced government spending, but it's pretty obvious that's not going to happen. 

 

I feel like we should avoid incentivizing bad behavior (government handouts / a tax system that encourages under the table work) and try to incentivize good behavior (saving/investing/earning more money). Our progressive tax system/income based safety nets create a lot of moral hazard. 

 

If I were king, I'd try to create a more balanced tax system. Tax all investment income at the same rate, so lower taxes on cap gains/dividends/interest while increasing the tax on stock buybacks to the same rate. Lower the higher income tax brackets, or just use a flat tax rate. Incorporate a VAT tax (and maybe exclude essential goods/services). Reform entitlement programs so that they serve to help bring people out of poverty instead of keeping them there. Close the huge endowment loophole for avoiding taxation on unrealized capital gains/estate tax (no need for a wealth tax).