I hear from the grapevine ( a bunch drunken wine drinkers) that we shouldn't change the tax rates, but do away with some loop holes. Not all loop holes mind you just some unspecific ones. Being unspecific I can put my twenty cents in ( The expression used to two cents in but due to inflation it's now twenty).
Let's change the income tax system into a strict income tax system. Dividend income is income to be taxed as income. You sell a stock that's income (lets do away with the capitol gains tax loophole and call it what it is, income). Lets do away with the estate tax loophole and tax the proceeds as income ( O boy would I have been in trouble).
It's been suggested that investors don't like to make money unless they can get a tax break so that's why we shouldn't mess with capitol gains tax and perhaps lower it.
It's a shame that McDonald workers can't afford to eat in Burger King, and Burger King workers can't afford to eat at McDonald's.
Sunday, December 2, 2012
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