Everybody's Doing It: Abolish The Capital Gains Tax

GOPUSA ^ | April 17, 2006 | Rod D. Martin

[Tolerance Sucks Rocks]

PING!

[freepatriot32]

ping

[irishtenor]

Abolish ALL taxes... except those that benifit me :>)

[Tolerance Sucks Rocks]

You rent-seeker, you. :-)

[Bigun]

I agree with everything Mr. Martin says in this article but instead of tinkering around the edges why don't we simply force our elected representatives to enact the FairTax Act (HR25/S25) and be done with the communist inspired income tax once and for all!

Fairtax.org

[ClaireSolt]

Pay Go, please.

[King Prout]

ping

[piytar]

My only problem with the "fair tax": We will inevitably get Democraps in control again at some point. They will then add a "new" income tax "just on the rich." Of course, that's how our current income tax started, so in 30 years we will have BOTH taxes.

Come up with a way to prevent that from happening -- probably a Constitutional Amendment -- and I'm on board...

[RightWhale]

Taxes discourage investment. While the gov't may get some revenue, the economy is restricted, which means less revenue for the gov't and less profit to the people. Lose-lose.

[clawrence3]

You're O.K. with a 23% "fair" tax?!

[PeteB570]

Here we go again.

Because of inbedded taxes. Read the book.

[clawrence3]

I understand all about "hidden" taxes - my concern is that there are lots of people who pay less than 23% even taking into account all of those "hidden" taxes.

[taxcontrol]

Beats the heck out of the 28% tax (after all adjustments) I pay now.

[King Prout]

I reckon go for either a flat tax or a universal sales tax.

(I'm not even sure I'd support "progressive" sales taxes (raw necessities untaxed --> pure luxuries highly taxed) because, honestly, how do we trust those who'd define what is necessary and what is luxury?)

get rid of all other taxes.

[MBB1984]

I've got mixed feelings on this one. One the one hand, I firmly believe in promoting investment. I also believe in a reduced tax on income from an investment derived from saved income previously taxed.

However, it doesn't seem right for capital gains to receive no tax while ordinary income is taxed. Those who must work to survive will continue to pay ordinary income taxes and FICA and FUTA taxes. In essence, the very rich will a lower percentage of tax on their income than the poor and middle class taxpayers. I don't mind a flat tax, but I am not in favor of system that places a higher tax percentage wise on the poor than it does the rich.

[irishtenor]

Just pay all your taxes to me and I will be happy. Oh, and your beer.

What more could a man want? :>)

[RightWhale]

Sales tax excepting food and built-in appurtenances of houses would be okay. That would let those who can barely afford Alpo get away tax-free.

[HarmlessLovableFuzzball]

We don't need a damn govt. What we need are two divisions of law enforcement: Internal ( Police) and External (Military) and a small body that makes decisions on when to hammer a misbehaving nation or group. Taxes should be 2% for the "poor" and 5% for the "rich". Now am I being too radical here ?

[clawrence3]

For you, I would agree, it would make sense (unless, of course, the Dems eventually add another income tax "just on the rich" again).