View Single Post
Old 11-17-2012, 08:28 AM   #149
Kubla Kemba
rufuspaul's Avatar
Join Date: Oct 2007
Location: Charlotte
Posts: 22,127
Default Re: Romney says Obama won by showering black, Latino & young voters with big gifts.

Originally Posted by joe

Non-sense. Some do, if they earn their money off of dividends. But don't forget, those dividends were already taxed when the corporation paid their 35% tax. So though the dividends are only taxed at like 12%, they were already taxed once before at a much higher rate. Add them up, and the true rate is much higher than any secretary pays (and Warren Buffet is full of you-know-what).

And if you run a business, and thus earn "income" as opposed to dividends, you are paying 35% in taxes. Add to that your state tax, entitlement tax, sales tax, and you're approaching 50% taxes, or even higher in some states! Half of the money that you worked your ass off to earn... gone. Why do we want to do this to rich business people? These are people that create jobs, provide services, truly add value to society... and we punish them by taking half of their money. Forget how the rich person feels about this, why should even the POOR feel good about this? It's not to our advantage to treat rich people like this, just from a practical standpoint. We want these guys creating jobs and inventing new products for us to use. We don't want them giving half of their money to Washington, so they can blow it on drone strikes and dimwit regulators salary.

So true. If you're like me and actually saving for retirement instead of expecting to freeload off the government, most of your retirement income will be taxed (for the 2nd time) at the capital gains rate. Raising this rate punishes people who worked hard and saved and invested.

Last edited by rufuspaul : 11-17-2012 at 08:36 AM.
rufuspaul is offline   Reply With Quote