The concerns are real, but there are better ways than taxing it.
Thoughts?
Why Isn’t Everyone In Favor of Taxing Financial Speculation? | Common Dreams | Breaking News & Views for the Progressive Community
This is a coherent explanation of the benefits of a proposed Financial Transactions Tax.
Thoughts?
But it's so easy and so painless, why not tax it? Like fuel taxes for roads. Roads must be built, and humans will gamble for sure.
I agree fuel taxes need to be raised. It's a user tax, and we need to maintain better roads. However, with the switch to electric, hybrid, etc; maybe we need to increase the taxes on tires instead.
No.This proposed tax is ALSO a user tax, and thanks for mentioning that. Those who play the casino pay to play, a fairly just method of taxation, eh?
No.
The casino profits are taxed, and there is a point in which if a player wins over a certain amount, it is filed with the IRS and they pay taxes on it.
Do the roads wear out in a casino?
After reading about the Panama papers, I have zero faith in our tax system anymore or our government's ability to evenhandedly apply the tax code. They build in loopholes so that the wealthy can find ways around it. This new tax will be no different.
LOL...
I've tuned several PID loops.
I don't think you can tune tax "D's" as well.
By casino, I'm referring to the Stock Market where so many of my friends bet most of the day. They are the users that will pay this small tax for using the system in which they gamble.
Most corporations represented on Wall Street do not pay taxes, as many of them are moved offshore to avoid tax liabilities. Some do pay, but most don't pay. 10 years ago and probably since, I paid more in taxes than General Electric did.
So...
Taxing the transaction, are you going to eliminate capital gains taxes?
So...
Taxing the transaction, are you going to eliminate capital gains taxes?
I have not heard anybody suggest that as part of the plan. Have you?
Oh you want to do that ? Well then let's raise the transactional tax to 15% scaling with income up to 40% like the FIT.
Now you're being silly.
Dead serious.
Why is some lazy person whose sole contribution to the economy is putting their worth into the market taxed at a lower rate than 40, 50, or 60+ hour/week laborers ?
Because it is a risk. If you tax risky transactions at the same rate and a paycheck, people stop taking the risk.
You don't always win in the market. Sometimes you lose your money. If I play 10 stocks in the tax year, lose 3K with three of them, make 7K with 7 of them, my net gain is $4k. It may have taken $100K of capital to make that $4K. What would you tax my $100K worth of transactions at? Would I still play the market after the end tax result? I'm already getting taxed on my $4K profit.
Only in losing deals that politicians want. And it's the lefties who want that. Not right leaning people. They push for things that corporations would never risk their own money for, like Solyndra.The government already subsidizes investment losses.
Only in losing deals that politicians want. And it's the lefties who want that. Not right leaning people. They push for things that corporations would never risk their own money for, like Solyndra.
What ...?
LOL...
Apt name...
Absent glare...
I'm sure there are good reasons to have the government guarantee a loan... though I can't think of any at the moment. They shouldn't do so just for the current liberal pet project like solar energy corporations. If investors see it as a viable option, they will risk their personal capital! If these experts can't convince other experts, but can convince our elected officials... I'm sorry, in my view, everyone who approved of Solyndra should be out of a job. Their job should have been tied to that company. What a travesty and waste of tax dollars.
Really?Not really, those green energy loans are on course to be a net gain for the government.
Yes, businesses fail from time to time. That's why we don't tax capital investors very much, because they are risking complete losses. If a capital investor doesn't want to risk his money, why should the government risk our tax dollars?Businesses fail all the time, why latch on to Solyndra ?
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