You are standing in the middle of the street. There is a shoe store on your left and one on ther right. One store have 20% off everything. Another store have 30% off everything. Which store gets your money? 30% off right. This is what the tax rate is about for THE RICH. They have the money, they will invest it. They will ALWAYs invest it in the store that has the biggest sale on $. China store, India store, etc. USA needs to have the biggest sale on money so we get ALL the business.
Idiot. IF THE RICH CAN PUT THEIR MONEY IN THE STOCK MARKET AND GET 0% Cap Gains..The rich will put MORE of their money in the market BECAUSE THEY WILL GET "RICHER" "EASIER" there. Comps from McDonalds, to Sears, MFA Oil, State Farm,and others will have huge amounts of cash flush in from all over the world. That "trucker" now has 5 new co workers.
The idea is Rich people have $... how can we get them to want to put money in the ecomomy instead of a tax shelter over seas? RAISING TAXES?
@hapz3000 I think he is the only cause. They have been spending like crazy in Washington and doing things that make no economic sense. I put a big hunk of blame on him for the housing bumble crash that was a huge part of the recent down turn. If he efforts to get everyone into home ownership, millions have lost their homes.
So you are blasting conservatives for the thought of reducing taxes now? Did you just forget that this great nation has CREATED more wealth (a God thing that godly people tend to do) and opportunity than any other in history WITH NO INCOME TAX!? Oh, I get it...you know better than all that. Your class-warfare tax-the-rich gig is better, eh? Ever work for a poor man, you imbecile? Ever SELL anything to a poor man? You commies use the worst parts of human character to keep mankind down...
So you are blasting conservatives for the thought of reducing taxes now? Did you just forget that this great nation has CREATED more wealth (a God thing that godly people tend to do) and opportunity thatn any other in history WITH NO INCOME TAX!? Oh, I get it...you know better than all that. Your class-warfare tax-the-rich gig is better, eh? Ever work for a poor man, you imbecile? Ever SELL anything to a poor man? You commies use the worst parts of human character to keep mankind down.
You idiots that have been commenting, I have just a few simple things to tell you. One. Cenks views are low because the country is filled with brainwashed morons like yourselves. Two. Have any of you EVER taken ANY kind of economics class, let alone paid attention to anything in history? Three. Look at the obvious. Look at FACTS. Even currently...let's just say for the sake of keeping your simple little minds in the argument that the republicans had a good idea. Well, it OBVIOUSLY didn't work.
This guy is delusional. It wasn't the tax cuts that caused the recession, it was government spending too much, the fed artificially keeping interest rates low and mortage giants Fannie and Freddie giving loans to people who obviously couldn't pay them.
this guy is a fucking moron. when capital gains taxes are cut, government revenue goes up. 100,000,000 americdans have money in the stock market you idiotic freak. this is why you have 9000 views. you're a fucking dolt.
@jmarquise the capital gains tax is what the gop should be trying to eliminate not the freaking estate tax no one pays the estate tax. tons of people pay capital gains even poor or lower middle class Americans end up paying it at least once (mainly selling their homes) capital gains elimination means billions into the economy estate tax elimination mean pennies into the economy
@Chaarge but remember Norway's primary source of income is exporting natural resources while both Hong Kong and Switzerland have nothing and yet they are as rich as they are...imagine if taxes were less in Norway people would be even richer...
Cutting corporate taxes does little to boost the economy. The only way to entice companies to invest & expand it to increase demand. If demand isn't there, companies will not take the risk. We might see some investments because companies will have a higher profit margin BUT, those investments will be short lived because they aren't backed by demand.
So whats the best way to increase demand via tax cuts?
Give them to the mid class & lower who make up 95% of the consumer base, not the top 5%.
The facts are there is over 17 trillion dollars held by U.S. citizens in offshore banks and if capitol gains was $0, even for one year much of that money would be brought back into the U.S. Any rational thinking person understands this, not sure why Cenk does not!
your point is moot anyway because history shows than when capital gains tax is reduced government earns more revenue...but lets analyze this in detail..
republicans reduced tax when the economy was doing rather well...which led to to inflation and the chain rection
TAX REDUCTION is govt's way of saying that go ahead give the corporations more money so they make more products and hence more jobs......what you are doing is important but when you are doing is equally as important..
@adsegm I think there has to be more to the economy that high/low taxes to be honest. History shows this. There are countries that are super strong economies(hong kong, switzerland), where government makes plenty of money, and they have almost no taxes, but there are also countries with higher taxes that are doing really well (like norway). I'm mostly for low taxes, but at this point in time, I honestly don't know. theory says one thing, practice points to something else...
Even Karl Marx believed in 0% capital gains tax...but you wouldn't know that because stupid people don't know they are stupid.This is a capitalistic economy. I know you like socialism and that's fine. Go live somewhere where it works...I know there aren't that many places because socialistic counties don't last very long,,,Cause it doesn't work. Look at what does work, pragmatically, (have someone look it up) not what you feel might work. The road to hell is paved with good feelings..
What a wonderful job the lefties are doing running things. Two years of non common sense policies and spending everyone else's money on what? Nothing to show for it except 10% unemployment. Less than 5% unemployment during Rep Admin prior 8 yrs, Obama & completely controlled dem congress spent more on less in 2 years than all 8 of the prior Admin.U know whats crazy? Obama actually said that spending money on unemployment creates jobs. How does anyone get to such vapid thinking?
O% CAP GAIN COUNTRYS-Austria, Belgium, Germany, Greece, Luxembourg, Mexico, New Zealand, Portugal, and Turkey. Countries that do not impose capital gains taxes on stocks include Argentina, China, Hong Kong, Israel, Malaysia, Mexico, the Netherlands, Pakistan, the Philippines, Poland, Singapore, Spain, Sri Lanka, Taiwan, and Thailand. And who has the huge deficit? So I guess all these contries are idiots. Wow and someone gave you money to buy a video camera? Amazed u can work it.
Yu are right he has no clue. Talks about a truck driver and says they pay no capital gains...What an idiot. Anyone who belongs to a union is paying capital gains!!! All of any unions pension funds, (the workers retirement funds for you idiots at young turks) are invested in the stock market. Every time the fund sells one of its holdings, the employees retirement money is reduced by the capital gains tax on that transaction and it is in the millions. Dude is out of touch with reality.
You gotta love his logic, taking a comment of Michelle Bachman where she discusses the logic of lowering Cap Gains Tax then stirr in a pinch of Democratic talking points and slight spin to the left and like magic, the finished product (see 2:20--2:25) "Oh if we just make Capitol Gains Tax rate 0%, everything would be fine. Poetry for liberals.
The bottom line is, you seriously need to watch all the videos on You Tube on what Buffett says about taxes. You need to Google who is better for the economy republicans or democrats. You need to also search for income inequality on this site. You'll see how bad it really is. The recovery will probably be weak because of the enormous debt, but we have to help the bottom 20% not the top 5% because the poor areas are hurting more than the rich.
But I'm sure it was a totally different philosophy back then. Warren Buffett said when he hires, it's based on demand and not his corporate tax rate. Also, search for Warren Buffett Tax on this site.
@skwira001 The demand for goods is directly related to their price and the price includes corporate taxes. So looking at demand does take into account the corporate tax rate indirectly.
But I'll bet Buffet looks at corporate tax rates when he is determining where to expand his operations.
Regardless, keep an eye on what is happening right now. I predict that we will not have a recovery from our economic troubles until the current policies of tax and spend are reversed.
@theHirsuteFrog Warren Buffett offered $1 million to any of the Forbes 400 who can show that their tax rates are lower than their secretary's or receptionists. If you look at income inequality, it rose big time in the 1920's right before the depression and rose like crazy with the Bush tax cuts. Also, do an Internet search for who is better for the economy republicans or democrats. You'll see the democrats lead in every category.
@skwira001 Love the entrepreneurial spirit of the republicans headquarters in America, factory overseas. Just got to love'm, they really know how to dilute our workforce on or off US soil. Just so patriotic.
@xXFocusRecord you realize cutting the capital gains tax to zero would incentivize more foreign and US companies to come here and start factories, businesses, etc.
Really? the only categories they lead in is inepptitude, non creation of economic health, unemployment rates and spending everyone else's money thus the deficit. What school did you go to?
@skwira001 Reagan was a supply sider. That means he believed that money in the hands of private indivuduals stimulated the economy, not government spending.
@skwira001 [... you can't just keep cutting taxes to 0.] Exactly. But consider this: from the founding of our current government in 1789 to 1861 we did fine without an income tax, and then again from 1895 to 1913. How was that possible?
What killed inflation was raising interests rates by the federal reserve. I'm not saying Keynesian Economics is followed in its entirety. The idea of more government spending and changing monetary polocy comes from that. Reagan also spent loads of money. Tax rates back then were 70%. He cut it to 50%. Bush only cut it 4%. When you cut taxes 20%, you get a huge multiplier.
@skwira001 Yes, easy money was a major cause of inflation.
Reagan should not be "credited" with all the spending. He proposed a balanced budget but Speaker of the House Tip O'Neill pronounced it dead on arrival. Reagan knew that government spending does not promote economic prosperity.
Governments don't have any money of their own to spend, they have to take it out of the economy before they put it back in, supposedly stimulating the economy.
If Bush first cut spending then cut taxes and not mess with the mortgage industry. We would not be in this mess. He should of not nation build at all. Ron Paul for President 2012.
No wonder why republicans control the uneducated. Read your basic economic textbook from high school. It shows the tax cut multiplier vs. the spending multiplier to stimulate the economy. Tax cuts have a lower multiplier.
@skwira001 Obviously you were never taught the broken window fallacy, and apparently you were miseducated in high school. John Maynard Keynes was a sick puppy. I lived through the 60s and the 70s and the economic malaise brought on by Keynesian economics. Reagan's policies stopped inflation cold and sparked the greatest economic boom in American history. That should have been the end of Keynes' sick economic theories. Unfortunately that is not the case.
So George Bush lowered taxes and that resulted in the current economic mess? Well, let's not let history get in the way of a good argument, but I recall that the Bush tax cuts occurred in 2001, the housing bubble burst in 2008. What happened between 2001 and 2008?
O well, at least we know that government policies that encouraged banks to issues mortages to people who could not afford them had nothing to do with the housing bubble.
@theHirsuteFrog Since when does the Bank have to do what the government encourages. Banks have enough mathematicians and computers to know well the risk involved with there lending, once again BP breaks a crude pipe in the ocean, lets put blame on the government not the business. Huge gains come with huge responsibility, its the business responsibility to have a safety plan, not lie about statistics and move around funds.
@xXFocusRecord Banks usually do not keep the mortgages they originate. They sell them to Freddie Mac and Fannie Mae. Government policy dictated that Freddie Mac and Fannie Mae had to buy a certain percentage of mortages to minorities and low income people. Some bank acted responsibly, but many decided to make the loans, collect their origination fees and sell the bad paper to Fannie Mae and Freddie Mac. They couldn't pass up the free money.
@theHirsuteFrog Exactly two words"Banks"," "Responsibly". Greed and irresponsibility put them on there ass.Do not try to make it sound like the government put them on a collision course for bankruptcy No one on wall street saw this coming???
@xXFocusRecord Uhmm... then why did they do what they would not normally do? What prompted them to loan money to people who could not repay? Greed doesn't explain it because if you loan money to someone who can't pay you back you lose money, not make money! Banks know that. What distorted the market so that they made so many insane loans?
@theHirsuteFrog Obviously banks dont know shit. If the government enforces rules that effect your business, you as the president of the company are responsible for dealing with it, they dont hire teams of number crunchers for nothing, that there business. You said it yourself, some acted responsibly others did not.
There is so much economic ignorance on display here I don't know where to start. So instead, let's just note that the whole argument is based on class envy. It's okay to plunder the rich because they are rich. They won't miss it. Apparently the Young Turd doesn't believe in property rights.
Ok this guy is an idiot capital gains taxes has nothing to do with taxing a business. And SouthernFriedHoney, the money that you save and invest is already taxed.
God bless those who can get their money from capital gains -- but fucking Christ almighty, why the fuck tax the living shit out of people who WORK for their money, and invest in their own business, and operate it.
Why the FUCK not just tax it all the same - -- let the fucking market decide how you make your money. Not the fucking tax code.
Just fucking tax your income as income, quit this fucking bullshit con artist crap of having no taxes on some kinds of income. Fuck that.
Magic -- you already tax the living shit out of the rich -- if they WORK for it. Does this escape you --- do you not grasp this?
Of course you don't.
The basic fact is -- you are already, right now, taxed 200-300% higher if you WORK for your money, if you are self employer or operate a business. You get the living fuck taxed out of your ass if you work. We have huge money tied up in our business -- huge investment. We are taxed like crazy - cause we actually operate it nd work.
All I am saying is, we shouldn't tax the rich more just because they have more money. I don't know what your talking about when you say "But you want us to pay all the taxes" I never said that, or even any thing like it.
Republicans love to cut taxes. They love to ultimately cut taxes forever. BUT, and the BIG BUT is this. Republicans LOVE TO BORROW from CHINA to make up for their tax cuts. This process is not PATRIOTIC.
That stark fact — China is the largest foreign lender to the United States — has changed the core of the relationship between the United States and the only country with a reasonable chance of challenging its status as the worlds sole superpower.
obama just put us into more massive debt with china and then started to print more money devaluing our purchasing power and the Chinese return. republican or democratic they are both monsters
the only trustful political body is WE THE PEOPLE
I bet this guy wakes up and argues into a mirror as a form of masturbation. I just can't believe no one has pulled him aside and just shaken the shit out of him yet. He just spins this horseshit double-talk over and over. "The rich wouldn't pay taxes." FALSE. If you cut CG Tax to 0% the rich still pay income tax just like everybody else. But no, lets punish investment, innovation, and financial foresight. Cenk, you are a hack and an asshole.
It's interesting that the paradox of the free market is that after a while it's NOT free in the end. Example, u have 100 small companies dealing in the same goods. Some do well some go under, The ones that do well expand into that share of the markets. So now you have 70 companies, and the process continues and accelerates because the biggest companies can undercut the competition by running at a loss for a year or so. In the end you're down to 3/4 companies, back door deals and price fixing.
Bachman is clearly insane and actually believes what she says, but most republicans are only interested in protecting their corporate interests. it's amazing to me how they've convinced lower/middle class americans to vote against their own interests
I believe taxes should be cut across the board. And capital gains would be one of those cuts. No one who invests or saves their money and actually makes the right financial decisions should be punished! It's ludicrous! I mean, the fact that we have to say and make things like HSAs "tax-free" just shows how tax-obsessed some people are in this country. They can't keep government's filthy hands off our money! There's no reason to tax capital gains. It's perhaps the dumbest tax.
The capital gains tax is too broad, for one thing. Why should individuals who win things like the lottery, game shows, and gambling have to pay the same taxes on sums of money that are MEASLY compared to what big business makes and pays w/ the tax? That's punishing middle- or lower-class folks who get lucky and actually get the chance to move up the ladder. Or people who invest in stock in the long-run. Why punish them? Or taxing IRAs. What kind of nonsense is that?
Most times Ihear Mrs. bachman talk, I wonder how could someone vote for this airhead. I do not think she understands how or what capital Gains Tax works. This representative must be made safe from herself, do not vote for her in the future, I mean it.
actually it doesn't. "Trickle Down" economics (ie Reaganomics) doesn't work. Its a nice theory (especially if you're getting the tax cuts), but economics don't work that way. You don't give tax cuts and HOPE people will do something.
Works more efficiently than socialism or whatever you support... President Obama supports lowering the capital gains tax to 0, whether he will or not is another story... But I rest my case.
I'm not saying you're a socialist which i wouldn't say is a bad thing, it's just that we live in capitalism so there's no point going over to socialism territory. You're right that government is corrupted, but "average" person isn't necessarily "fucked for life" either. You can still afford your big TVs and game systems so please don't give me that bullshit.
For me, I think democratic socialism is the way because people would get same education, same pay, same amount of respect.
1.Increasing taxes won't help? Wow. I know you want your new TV or game console system. But come on, the more money there is in treasury the faster US will back the debts which in case you don't know are THIRTEEN TRILLION dollars. There's no easy way, only increasing taxes will help
2. So umm, how exactly are people in government going to support THEIR families, because you know they aren't lifeless corpses... And what are these SERVICES?
So umm, let's here... who's gonna run the country? I mean it would better be somebody rather than people just making random policies. IT DOESN'T WORK... It was proved long LONG ago in Ancient Greece and in even Roman Empire to some extent. See, the thing is people only care about themselves... That's why leader is required to constraint those policies and make choices of which ones are right or wrong and execute them.
Second, spending money on what? Who's gonna pay off that debt then?
There's also another word for leader: president. If you have never been taught something, you cannot argue on that point because as you admit yourself you don't know much about. Why would you want to legalize ALL drugs? Weed I understand because it's cheap source for lot of things, but what's the point of legalizing meth? Usually gangs get profit from selling drugs not the people so it wouldn't make sense because people don't get profit the gangs do so it wouldn't help the economy whatsoever.
As for legalizing all drugs, because the war to fight them is stupid and costly. Drugs can slowly help the debt which is only 10+ trillion and growing... It being illegal only encourages drug usage. Prohibition never has worked and will never work on/for anything.
There's a HUGE difference between president and dictator, but a major one is that president lets people make policies and dictator makes the policies himself and has all the power. North Korea is right now in dictatorship, compare that country to US.
I already told you that treasury will get nothing from drugs because they are all controlled by gangs. Government cannot just start selling drugs because they are first of all, dangerous to make and they are bad for citizens.
There's no such thing as a president, it's a dictator. Except he's held in line by either, A) The people if he's a democrat or B) The rich motherfuckers if he's a republican
And drugs, so what if there bad? Who gives a fuck, stop controlling peoples live. Too much protection in "Land of the free" Let the people choose, not some cunt in a suit trying to screw the people for his own interests.
you're starting to cross line between capitalism and socialism here....
I actually don't know what reply to your drug comments, I want to stop the "war against drugs" because it's useless, but i don't want drugs to be legal. No drugs is one of the laws, country has to have different policies and laws that's what defines the country except for culture and landscape.
So I'm a socialist for the truth? Perfect use of knowledge, I'm glad to know my votes don't mean shit in elections. This country bends over backwards for big corporations and the rich but, if you are an average person you are fucked for life.
Drugs being illegal result in more usage. If this is really the land of "your choice" then let people do drugs all they want. People have to stop this protection bullshit.
This group should be called "The Young Dorks". Corporations create jobs, this includes small businesses. The political machine on the left has found the best way to get votes is to keep poor people poor and then use taxes (on the evil rich people/corporations) to "share" wealth in the forms of handouts and keep people dependent on thesm so they will vote for whom ever promises them the most.
You idiots just don't get it. When enough people are poor, there won't be enough rich people's money
Everybody's so out to get the rich! oh, The lower middle class doesn't own stocks! CAPITOL GAINS HIKES, EFFECT THE LOWER CLASSes, someone sells there house,any capitol gains! they have to pay the same as the rich guy! capitol gains taxes aren't ajusted by income/ tax bracket= the rich can aford the increase, I CANT. It's like seine nets, they try to catch the tuna, but they catch the dolphins also, that are feeding on the Tuna. thank you Obama for the extra few bucks a week in my paycheck.
Circuit City the corporation doesn't pay capital gains tax, it pays the corporate income tax on their profit. It is the investors in Circuit City that pay capital gains tax on their dividends and stock price gains. In way way those profits are taxed twice in our system because of this. I wasn't sure if you made a mistake or if you just have no idea what your talking about.
haha ya, saying that more tax cuts are going to help the economy is tantamount to saying that someone who is drowning is dying because their getting too MUCH air.
You are a dumbass! Did you ever stop to think that Maybe she was talking about cutting taxes so "THE AMERICAN PEOPLE" had money to shop at CC and BB and other stores instead for scam liberal groups like acorn could use the poor and homeless for a vote and then toss them back out on the streets
MY GOD YOU LIBERALS are so mean to people, maybe you should spend your time picking people up, show them a skill and help them get a job and maybe then they would have some self respect.
Robin Hood was just a movie and Steeling from the haves and giving to the have nots just gives you more of the have nots and less of the haves, what happens then is you have to take more from the haves and then again you are going to have more have nots. Then you have to take more from the haves and once again you end up with......DO YOU GET WHERE I AM GOING WITH THIS! See your "Rich" spend or invest and thats what gives people that want to work a job you liberals are so cruel to poor people
Also the whole The "Rich" invest so they shouldn't have to pay more story is crap. The "Rich" as you say, don't hire. Companies do. Are cause if that was the case Why don't the "Rich" just hire. The don't. I don't see Bush goin out and hiring folks. The same for O'Riley either. As well as I don't see Olberman or any "Rich" liberal hiring. Do some start companies and then hire folks... Of Course! But this whole leave the rich alone and they will hire you crap has got to stop.
This was "crisis" (liberal word for lets raise taxes) is from the housing bubble that wild Bill and Democracts like Frank Dodd and botox Pelosi stated with Freddy and Fanny giving loans to people that could never pay them, Bush and McCain tryed to stop it but were shut down.
And again only people who couldn't afford a house got foreclosed on? No one who were say middle class lost their home? I mean if you hace documentation to back up that claim I would love to see it.
The people that have been getting foreclosed on are people from all groups and life syles. What happend was when you give loans to anyone and back them up with government (fanny Freddie) the banks then where forced by groupd like ACLU and acorn claiming racisum if you didn't loan to people with bad credit. That then makes it so everyone can buy a house and when that happens prices sky rocket, then middle class guy has to take a risky load to aford his house and then he falls behind and so on
So again you contend that it was the liberals fault. Because the said everyone should be able to buy a home. Were the banks forced to give these loans? Did they have to go out and go door to door and hand people loan checks? And how is a loan risky? I can see how the borrower is a risky that he might not pay it. But how are you taking a risk taking the money from the bank? And again the middle class didn't have to take the loan. They could have kept renting.
And no I'm not putting all the blame, unlike you and just one segment. If I can't afford a loan I don't take it. Now if I can afford a loan but lose my job. Guess what then I can't make the payments and I lose. If as a bank I think you are a bad enough risk you don't get the loan. Unless I don't care if ou can pay it back cause I'm going to sell your loan to another anyway. Seee where I'm going with this?
This is why we need government out of the banking game all together! You have to right ideas you just have never heard that congress was forcing them to take these loans. You should watch some Milton Friedman videos and then you can learn how free markets can work
Congress never forced anything! They deregulated. That was the problem. Otherwords there was too little watching of what these folks were doing. So even less watching is your solution. Oh and this stupid myth that the government forced. Came about cause when they deregulated anybody to set themselves up as a mortgage company. and the banks paid them a fee for every mortgage they these companies took in. Fanny and freddie said screw it cut out the middle man. And started doing it themselves.
You are so wrong on so many leavels, every problem we have with health care, banks, and the car companys is because of too much government regulations. If people want things like lets say airbags in a car they should be able to purchase a car with airbags but if I want to put my life at risk I should be able to purchase a car with out them and save myself tons of money, if more people want airbags the markets would have put them in everycar. Free open markets is the only thing that works
You are correct on the fact that everyone was making loans, the reason banks were taking them is the fact that they where called racist if they didn't. They took the loans and then sold them off the Fanny and Fredy make a lot of money. Again government gave them the money told them to loan to anyone and not to worry about because the tax payer is backing them up. More gov and more regulations have never worked anywhere "The New Deal" is what caused the problems in the 30s not less government
So Shocking isn't it, the ACLU and Acorn using race to get something, like I don't know a guy elected as president! LOL you libs are so blind.
How does giving people free food shelter and cash and then telling them don't go to work because if you get laid off it takes months to get back on help them get back on their feet? You people just want to repress the poor so you can take money from middle class people and give it to them, you can feel so much better about yourself you make me sick!
SO, what did he say that was RACIST? this is why liberals are bigots, you weren't intelligent enough to debate/dispute HIM, so you fell back on the only battle CRY/LIE you know= RACIST....WHY DO LIBERALS CALL BLACK REPUBLICANS, OR BLACKS IN GENERAL WHO DONT AGREE W/THEM, RACIST NAMES? I didn't agree with everything he wrote, but you lost your battle and me, the moment you called him a racist!
opps never said anything about public schools, what do we always hear comming from state capitals & even on TV ads "SCHOOLS NEED MORE MONEY" have you ever heard them say "OK we are good thank you tax payers" if schools where all private and gov gave me my choice of where my kids went schools would compete for my kids and they would do it cheaper and better!
The power to do good is also the power to do harm ~ Milton Friedman
so stop holding people back with hand outs, lets pick people up
Hand outs? So the bailout was bad then. The government should have just let them fold. In that thought who would be hit hardest? Lets see is it the excutives that made millions per year for years before? Or will it be the guy that was making 30- 40k per year. You know what you have convinced me. As soon as you start you crusade against food stamps, students loans and grants, small business loans and grants, medicare, medicade oh and social security I will jump on the bandwagon.
LMFAO, you mean the guys like me that had nothing to do with AIG that now have to pay for it! Has the bail out worked? has the stimulas worked? Food stamps are a joke, I can go down to my Local store have 3 people walk up to me to buy their EBT card for 1/4 what its worth! man government money well spent.
medicare, medicade oh and social security these are all going to be brook in a few years where have you been.
why should I pay 4 people to compete with me, let them work & get their own $
Guess what, the Earth is cooling too and we have nothing to do with the temp on this planet "WHAT" thats right there is this thing called the sun the comes and goes everyday the provids us with day light and heat. See if you think about things a little bit and not just follow people like Al Gore (is worth $100,000,000 off of global war..I mean climate change) you might wonder things like how do we know what the temp is suppose to be, wasn't most of America under ice once & so on
yes they are at fault for paying too much for houses, they did not have to buy them you are correct. The banks were forced by congress via Acorn and the ACLU to make these bad loans then they sold them off to Fanny and Freddie (government backed companies)
A risky loan is an intrest only, arm loan, or a balloon mortgage these get people into the house and then after so many years it turns around and bits them in the ass! now that home prices r down its hard to refinace out of them
Yes see they invest in lets say a Cercit City or Best Buy, then CC or BB go out and grow. THey then have to hire people, those people then make money and gain skills that they can take to another job or starting there own company. Now you tell me or show me how the govenment creates jobs and grows the economy, prove where this works and I'll jump over to your side...LMAO
So only, they, meaning I guess the rich invest. And my point still stands why didn't they invest as you say. I know this is hard to understand but a store doesn't sell if no one buys. You can hire all you want but how are you going to pay them if you don't sell to consumers. So the government doesn't provide loans to start businesses? Nor do they help by maintaining roads or public transit? I guess the police and fireman are unpaid volenteers. Oh and supporting the school system is hogwash.
yea if they did such a good job on public transit, why do I (someone that never uses it) have to pay for it with my taxes? Public roads are taken care of but with a lot of wasted tax dollars. Same with police and fire (I do think Government should run these) Do you think there would be water shortages if a private company ran the water company? I'll save you time here the answer is no. People are scared PBO ripped off investers with the car companys so there are putting their money in Gold.
I am not a die hard but do believe in God and Jesus. I'm a little taken back by this. Are you saying that in the bible it says that we should "Donate" by force to a government so they can tell people not to work and have self respect. I guess I kinda missed that in Sunday school. Yes the bible says we should give back and help the needed but it doesn't say we should force that on others. You liberals are some of the cruelest people in the world
i think only people who r completely uninformed about the economy for the past 2 years can say that bush tax cuts caused this mess. seriously, its the most ignorant argument u could possibly make. if u wanna blame bush for every bad thing in the whole world (and i know all u libs want to), blame his massive spending, not his tax cuts (even that can't be blamed for ALL of this tho)
Hey calimar28 suck my dick and fuck you! It doesn't matter that you don't get what is going on. But just as a human thing. When your types get in the way of a peoples agenda. What historically usually happens are these things: You're proscibed. Know what that means? or, You commit suicide. You commit homicide. You commit infanticide, fraticide, patricide, tiranicide, etc., etc., etc., or You're hanged You're trampled You're dismantled ='ng OBSOLETE. So go fuck yourself......
I cannot answer to liberal garbage such as yourself. People who respond to others by calling them fal names, are un-intellegent, and not worthy of a debate of any kind. Therefore, your not worthy of my time kid. So eat your Capn Crunch and go to bed..
I'm going to go with every single economist on this one... the reason for this was not outsourcing it was a four headed monsters. A perfect storm involving the housing market, the freeze on credit, consumer confidence, deregulation.
I GET IT NOW! 8-o The republicans are the party of the corporations. Whatever puts money into their pockets from the highest bidder, thats how they legislate. We need to kill the republican party. As long as they exist, and are taken seriously we will continue to see bush's in the future, cuz to them it doesn't matter who they put in office. As long as he/she tows the party line.....
I hope you don't claim to be patriotic. Or claim to support our troops if you complain about paying taxes. Taxes are how we support all the things our government does with our money: our military, roads, bridges, etc.
Take a look at the top 10 countries which we have a trade deficit with, then take a look at THEIR corporate tax rates and notice that only Ireland has a lower corporate tax rate than the United States. Do the math. The jobs are going to countries with HIGHER TAX RATES. That means that tax policy has fuck-all to do with job losses. The answer to these "mysterious" job losses is TRADE POLICY (NAFTA, CAFTA, etc.) When we impose tariffs on business, they have no choice but to stay in the US.
This comment has received too many negative votesshow
Ok DUMBASS when you raise taxes guess what!!! Everyone pays more which means EVEYONE loses more money and guess what thats where you get country's like Cuba or China where NO ONE has money but when you lower them people keep there money. HEY imagine that keeping your money rather than giving it to the government.
I don't want to raise taxes on "everyone", I want to have a progressive tax system that lowers taxes on the lower class, lower/keep taxes on the middle class,& raise taxes on the upper class.
Besides, taxes don't make money disappear. The government is the nation's biggest/richest consumer & philanthropist. It invests/funds programs that raise the common standard of living: social security, education, subsidized loans to small businesses, etc (hopefully universal health care in the future too)
It's amazing how stupid you are. If there were no taxes on CG then businesses would grab that chance and go for it. Creating jobs by hiring new workers and embarking on new enterprise. This would stimulate the economy.
She showed from many studies how it is PROVED to work!
Cenk is an idiot to just ignore the FACTS and go blundering on like the fool he is.
Econ 101: business goals are to either maximize profits or minimize costs.
Imagine a corporation. 70% of its revenue pays rent, wages, mortgages, etc. 20% goes to taxes, and 10% is profit that is used to invest in new capital to make business better. Let's tell them they don't have to pay taxes anymore. 70% pays costs of production and 30% becomes profit now. 1st, they don't need to hire more workers because they'll lose profit,
Capital gains taxes have NOTHING to do with corporate taxes. Who is saying anything about making corporate taxes zero? First you might want to learn what capital gains taxes are before you talk. Raising capital gains taxes will cut investment which is bad for EVERYONE. So before you tell me about Economics which I TEACH maybe you could at least talk about the right TOPIC. Wow. I said the majority here have nbo idea what a CG tax is and you proved me right.
I made capital gains -- and I made them by investing in China and canadian mining stocks.
Don't tell me capital gains = jobs, you lunatic. Capital gains is made also from detroying jobs. When you shut down your plant here, and open one in Mexico - you get cap gains for the sale.
So this whole bullshit idea of capital gains being so fuching holy that it shouldnt be taxed, is nonsense.
God bless capital gains, but tax it like we tax work and wages. Quit the bullshit./
Capital markets are unstable. In the past there was no way to make them stable. But today we have computer power that can be used to make them stable. By using the greater computer power of today we can have a much higher turn over of capital in the capital market. This higher turnover will make the market harder to game or control and the market will no longer have the unstable run ups or declines. Who can change or control the market when say 20% of the capital is trading each day?
Wow, it is hilarious to read just how stupid people are. The richest 5% already pay 90% of the taxes and you people want more. Seems like a lot of people would like to sit home do nothing and let the handouts roll in. Why work the rich will pay all your bills. I guarantee the majority writing on here have no idea what a capital gains tax is or how raising it slows the economy but thats par for the course. Take an economics lesson and stop listening to every piece of liberal crap you hear.
Well for one the top 5% have the majority of the wealth, and they can afford to pay a little more than someone who is barely getting by paying his bills and who already has 2 jobs. Other than that, if everyone would just do what you mockingly say, then there would be no rich, the rich are only rich because of the people working for them. I am not for raising the capital gains tax but if the economy was doing great and we needed to repay debts then I may support raising it and cutting spending.
and plus, they don't need new workers because their increased profits can invest in more capital machinery to replace human labor in the production line. Business expansion relies on efficient capital goods to push the production possibilities curve. Decreasing human labor lowers costs and maximize profits.
I just gave you a step-by-step logic of microeconomics. If you plan to rebuttal, please do so in a logical manner. If you don't respond, I'll assume that I've persuaded you to my cause.
Is that a good enough LOGICAL rebuttal. I should even have to rebutt what you are saying as you have no idea what a CG tax is. By the way you can tell Adam Smith FROM THE 1700's that ther rich already do pay almost all the taxes in the US. His statement holds true. What I am saying is enough is enough. Just because certain peopl lack the intellect to ever be rich, the rich should not be blamed for that and made to pay their entire way.
The thing about capital gains is that it is liquid wealth that can easily convert into money, and it's wealth isn't created from the manufacture of goods and services. Some of these liquid assets are in the form of stocks, bonds, and mutual funds that indirectly invest in businesses, but it is absurd to say that the more one retains their capital gains, the more society and the economy benefits. Self-interest does not completely lead to the universal good of the community
"The necessaries of life occasion the great expense of the poor...the greater part of their little revenue is spent in getting [necessities]. The luxuries and vanities of life occasion the principal expense of the rich...A tax...therefore, would in general fall heaviest upon the rich; and in this sort of inequality...It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more" Adam Smith, founder of Capitalism
You are standing in the middle of the street. There is a shoe store on your left and one on ther right. One store have 20% off everything. Another store have 30% off everything. Which store gets your money? 30% off right. This is what the tax rate is about for THE RICH. They have the money, they will invest it. They will ALWAYs invest it in the store that has the biggest sale on $. China store, India store, etc. USA needs to have the biggest sale on money so we get ALL the business.
mrhoffame 3 days ago
Idiot. IF THE RICH CAN PUT THEIR MONEY IN THE STOCK MARKET AND GET 0% Cap Gains..The rich will put MORE of their money in the market BECAUSE THEY WILL GET "RICHER" "EASIER" there. Comps from McDonalds, to Sears, MFA Oil, State Farm,and others will have huge amounts of cash flush in from all over the world. That "trucker" now has 5 new co workers.
The idea is Rich people have $... how can we get them to want to put money in the ecomomy instead of a tax shelter over seas? RAISING TAXES?
mrhoffame 3 days ago
some people are convinced that barney frank is the # 1 cause of the financial collapse..is this true
hapz3000 2 weeks ago
@hapz3000 I think he is the only cause. They have been spending like crazy in Washington and doing things that make no economic sense. I put a big hunk of blame on him for the housing bumble crash that was a huge part of the recent down turn. If he efforts to get everyone into home ownership, millions have lost their homes.
mrhoffame 3 days ago
@mrhoffame thanks for the reply
hapz3000 2 days ago
So you are blasting conservatives for the thought of reducing taxes now? Did you just forget that this great nation has CREATED more wealth (a God thing that godly people tend to do) and opportunity than any other in history WITH NO INCOME TAX!? Oh, I get it...you know better than all that. Your class-warfare tax-the-rich gig is better, eh? Ever work for a poor man, you imbecile? Ever SELL anything to a poor man? You commies use the worst parts of human character to keep mankind down...
TexasMAGIatAOL 7 months ago
@TexasMAGIatAOL HAHA. We created more wealth with the tax.
syzygy502 4 months ago
So you are blasting conservatives for the thought of reducing taxes now? Did you just forget that this great nation has CREATED more wealth (a God thing that godly people tend to do) and opportunity thatn any other in history WITH NO INCOME TAX!? Oh, I get it...you know better than all that. Your class-warfare tax-the-rich gig is better, eh? Ever work for a poor man, you imbecile? Ever SELL anything to a poor man? You commies use the worst parts of human character to keep mankind down.
TexasMAGIatAOL 7 months ago
You idiots that have been commenting, I have just a few simple things to tell you. One. Cenks views are low because the country is filled with brainwashed morons like yourselves. Two. Have any of you EVER taken ANY kind of economics class, let alone paid attention to anything in history? Three. Look at the obvious. Look at FACTS. Even currently...let's just say for the sake of keeping your simple little minds in the argument that the republicans had a good idea. Well, it OBVIOUSLY didn't work.
brewertatiana 7 months ago 3
This guy is delusional. It wasn't the tax cuts that caused the recession, it was government spending too much, the fed artificially keeping interest rates low and mortage giants Fannie and Freddie giving loans to people who obviously couldn't pay them.
Thrashfan21 8 months ago
how about a sin tax on whatever the hell this fat freak is eating?
jmarquise 8 months ago
this guy is a fucking moron. when capital gains taxes are cut, government revenue goes up. 100,000,000 americdans have money in the stock market you idiotic freak. this is why you have 9000 views. you're a fucking dolt.
jmarquise 8 months ago
@jmarquise the capital gains tax is what the gop should be trying to eliminate not the freaking estate tax no one pays the estate tax. tons of people pay capital gains even poor or lower middle class Americans end up paying it at least once (mainly selling their homes) capital gains elimination means billions into the economy estate tax elimination mean pennies into the economy
mike420rvd 8 months ago
@mike420rvd that's pretty much what I said. however, the death tax should be eliminated as well.
jmarquise 8 months ago
I have no problem with corporate tax cuts as long as I get mine too! Flat tax 15% end of story... and even that's too high!
deadrepublicantv 9 months ago
@Chaarge but remember Norway's primary source of income is exporting natural resources while both Hong Kong and Switzerland have nothing and yet they are as rich as they are...imagine if taxes were less in Norway people would be even richer...
adsegm 9 months ago
i would support the 9% tax cut only if the corporations were Forced to use that money to hire people
djphlange 9 months ago
Cutting corporate taxes does little to boost the economy. The only way to entice companies to invest & expand it to increase demand. If demand isn't there, companies will not take the risk. We might see some investments because companies will have a higher profit margin BUT, those investments will be short lived because they aren't backed by demand.
So whats the best way to increase demand via tax cuts?
Give them to the mid class & lower who make up 95% of the consumer base, not the top 5%.
eyeammi 10 months ago
Republican ideology = "sucking corporate dick is good!"
Mastikator 11 months ago
The facts are there is over 17 trillion dollars held by U.S. citizens in offshore banks and if capitol gains was $0, even for one year much of that money would be brought back into the U.S. Any rational thinking person understands this, not sure why Cenk does not!
dantheleo 11 months ago
your point is moot anyway because history shows than when capital gains tax is reduced government earns more revenue...but lets analyze this in detail..
republicans reduced tax when the economy was doing rather well...which led to to inflation and the chain rection
TAX REDUCTION is govt's way of saying that go ahead give the corporations more money so they make more products and hence more jobs......what you are doing is important but when you are doing is equally as important..
adsegm 1 year ago
@adsegm I think there has to be more to the economy that high/low taxes to be honest. History shows this. There are countries that are super strong economies(hong kong, switzerland), where government makes plenty of money, and they have almost no taxes, but there are also countries with higher taxes that are doing really well (like norway). I'm mostly for low taxes, but at this point in time, I honestly don't know. theory says one thing, practice points to something else...
Chaaarge 10 months ago
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adsegm 1 year ago
Even Karl Marx believed in 0% capital gains tax...but you wouldn't know that because stupid people don't know they are stupid.This is a capitalistic economy. I know you like socialism and that's fine. Go live somewhere where it works...I know there aren't that many places because socialistic counties don't last very long,,,Cause it doesn't work. Look at what does work, pragmatically, (have someone look it up) not what you feel might work. The road to hell is paved with good feelings..
duaness 1 year ago
What a wonderful job the lefties are doing running things. Two years of non common sense policies and spending everyone else's money on what? Nothing to show for it except 10% unemployment. Less than 5% unemployment during Rep Admin prior 8 yrs, Obama & completely controlled dem congress spent more on less in 2 years than all 8 of the prior Admin.U know whats crazy? Obama actually said that spending money on unemployment creates jobs. How does anyone get to such vapid thinking?
duaness 1 year ago
O% CAP GAIN COUNTRYS-Austria, Belgium, Germany, Greece, Luxembourg, Mexico, New Zealand, Portugal, and Turkey. Countries that do not impose capital gains taxes on stocks include Argentina, China, Hong Kong, Israel, Malaysia, Mexico, the Netherlands, Pakistan, the Philippines, Poland, Singapore, Spain, Sri Lanka, Taiwan, and Thailand. And who has the huge deficit? So I guess all these contries are idiots. Wow and someone gave you money to buy a video camera? Amazed u can work it.
duaness 1 year ago
Comment removed
duaness 1 year ago
Yu are right he has no clue. Talks about a truck driver and says they pay no capital gains...What an idiot. Anyone who belongs to a union is paying capital gains!!! All of any unions pension funds, (the workers retirement funds for you idiots at young turks) are invested in the stock market. Every time the fund sells one of its holdings, the employees retirement money is reduced by the capital gains tax on that transaction and it is in the millions. Dude is out of touch with reality.
duaness 1 year ago
This guy has no clue about economics.
Taxes on income are the most destructive ones.
pereeldelospalotes 1 year ago
hell yea i m 21 and cant get a 100 dallar loan or even higher i hope it changes soon we are in charge now REPUBLICIANS yea thats right
codinevels 1 year ago
hell yea
codinevels 1 year ago
You gotta love his logic, taking a comment of Michelle Bachman where she discusses the logic of lowering Cap Gains Tax then stirr in a pinch of Democratic talking points and slight spin to the left and like magic, the finished product (see 2:20--2:25) "Oh if we just make Capitol Gains Tax rate 0%, everything would be fine. Poetry for liberals.
1954tele 1 year ago
I am a liberal democrat and the capital tax should be eliminated! It is a horrible tax.
pirucreek 1 year ago
The bottom line is, you seriously need to watch all the videos on You Tube on what Buffett says about taxes. You need to Google who is better for the economy republicans or democrats. You need to also search for income inequality on this site. You'll see how bad it really is. The recovery will probably be weak because of the enormous debt, but we have to help the bottom 20% not the top 5% because the poor areas are hurting more than the rich.
skwira001 1 year ago
But I'm sure it was a totally different philosophy back then. Warren Buffett said when he hires, it's based on demand and not his corporate tax rate. Also, search for Warren Buffett Tax on this site.
skwira001 1 year ago
@skwira001 The demand for goods is directly related to their price and the price includes corporate taxes. So looking at demand does take into account the corporate tax rate indirectly.
But I'll bet Buffet looks at corporate tax rates when he is determining where to expand his operations.
Regardless, keep an eye on what is happening right now. I predict that we will not have a recovery from our economic troubles until the current policies of tax and spend are reversed.
theHirsuteFrog 1 year ago
@theHirsuteFrog Warren Buffett offered $1 million to any of the Forbes 400 who can show that their tax rates are lower than their secretary's or receptionists. If you look at income inequality, it rose big time in the 1920's right before the depression and rose like crazy with the Bush tax cuts. Also, do an Internet search for who is better for the economy republicans or democrats. You'll see the democrats lead in every category.
skwira001 1 year ago
@skwira001 Love the entrepreneurial spirit of the republicans headquarters in America, factory overseas. Just got to love'm, they really know how to dilute our workforce on or off US soil. Just so patriotic.
xXFocusRecord 1 year ago
@xXFocusRecord you realize cutting the capital gains tax to zero would incentivize more foreign and US companies to come here and start factories, businesses, etc.
umrmecheman 1 year ago
@umrmecheman I agree it might help a little, but if you owned a BIG business, what are you more enticed to save on labor or capital gains?
xXFocusRecord 1 year ago
Really? the only categories they lead in is inepptitude, non creation of economic health, unemployment rates and spending everyone else's money thus the deficit. What school did you go to?
duaness 1 year ago
I'm just saying that Reagan wanted a stimulus. He wanted the spending early on. I don't know if he wanted the spending the last 6 years.
skwira001 1 year ago
@skwira001 [Reagan wanted a stimulus...] And your proof of that assertion is ...?
theHirsuteFrog 1 year ago
@skwira001 Reagan was a supply sider. That means he believed that money in the hands of private indivuduals stimulated the economy, not government spending.
theHirsuteFrog 1 year ago
The problem is, you can't just keep cutting taxes to 0.
skwira001 1 year ago
@skwira001 [... you can't just keep cutting taxes to 0.] Exactly. But consider this: from the founding of our current government in 1789 to 1861 we did fine without an income tax, and then again from 1895 to 1913. How was that possible?
theHirsuteFrog 1 year ago
What killed inflation was raising interests rates by the federal reserve. I'm not saying Keynesian Economics is followed in its entirety. The idea of more government spending and changing monetary polocy comes from that. Reagan also spent loads of money. Tax rates back then were 70%. He cut it to 50%. Bush only cut it 4%. When you cut taxes 20%, you get a huge multiplier.
skwira001 1 year ago
@skwira001 Yes, easy money was a major cause of inflation.
Reagan should not be "credited" with all the spending. He proposed a balanced budget but Speaker of the House Tip O'Neill pronounced it dead on arrival. Reagan knew that government spending does not promote economic prosperity.
Governments don't have any money of their own to spend, they have to take it out of the economy before they put it back in, supposedly stimulating the economy.
theHirsuteFrog 1 year ago
If Bush first cut spending then cut taxes and not mess with the mortgage industry. We would not be in this mess. He should of not nation build at all. Ron Paul for President 2012.
tskjesusfreak 1 year ago
No wonder why republicans control the uneducated. Read your basic economic textbook from high school. It shows the tax cut multiplier vs. the spending multiplier to stimulate the economy. Tax cuts have a lower multiplier.
skwira001 1 year ago
@skwira001 Obviously you were never taught the broken window fallacy, and apparently you were miseducated in high school. John Maynard Keynes was a sick puppy. I lived through the 60s and the 70s and the economic malaise brought on by Keynesian economics. Reagan's policies stopped inflation cold and sparked the greatest economic boom in American history. That should have been the end of Keynes' sick economic theories. Unfortunately that is not the case.
theHirsuteFrog 1 year ago
So George Bush lowered taxes and that resulted in the current economic mess? Well, let's not let history get in the way of a good argument, but I recall that the Bush tax cuts occurred in 2001, the housing bubble burst in 2008. What happened between 2001 and 2008?
O well, at least we know that government policies that encouraged banks to issues mortages to people who could not afford them had nothing to do with the housing bubble.
theHirsuteFrog 1 year ago
@theHirsuteFrog Since when does the Bank have to do what the government encourages. Banks have enough mathematicians and computers to know well the risk involved with there lending, once again BP breaks a crude pipe in the ocean, lets put blame on the government not the business. Huge gains come with huge responsibility, its the business responsibility to have a safety plan, not lie about statistics and move around funds.
xXFocusRecord 1 year ago
@xXFocusRecord Banks usually do not keep the mortgages they originate. They sell them to Freddie Mac and Fannie Mae. Government policy dictated that Freddie Mac and Fannie Mae had to buy a certain percentage of mortages to minorities and low income people. Some bank acted responsibly, but many decided to make the loans, collect their origination fees and sell the bad paper to Fannie Mae and Freddie Mac. They couldn't pass up the free money.
theHirsuteFrog 1 year ago
@theHirsuteFrog Exactly two words"Banks"," "Responsibly". Greed and irresponsibility put them on there ass.Do not try to make it sound like the government put them on a collision course for bankruptcy No one on wall street saw this coming???
xXFocusRecord 1 year ago
@xXFocusRecord Uhmm... then why did they do what they would not normally do? What prompted them to loan money to people who could not repay? Greed doesn't explain it because if you loan money to someone who can't pay you back you lose money, not make money! Banks know that. What distorted the market so that they made so many insane loans?
theHirsuteFrog 1 year ago
@theHirsuteFrog Obviously banks dont know shit. If the government enforces rules that effect your business, you as the president of the company are responsible for dealing with it, they dont hire teams of number crunchers for nothing, that there business. You said it yourself, some acted responsibly others did not.
xXFocusRecord 1 year ago
There is so much economic ignorance on display here I don't know where to start. So instead, let's just note that the whole argument is based on class envy. It's okay to plunder the rich because they are rich. They won't miss it. Apparently the Young Turd doesn't believe in property rights.
theHirsuteFrog 1 year ago
Stink Yogurt lies again for The Messiah.
Pighood 1 year ago
Ok this guy is an idiot capital gains taxes has nothing to do with taxing a business. And SouthernFriedHoney, the money that you save and invest is already taxed.
bigsavannah 2 years ago
God bless those who can get their money from capital gains -- but fucking Christ almighty, why the fuck tax the living shit out of people who WORK for their money, and invest in their own business, and operate it.
Why the FUCK not just tax it all the same - -- let the fucking market decide how you make your money. Not the fucking tax code.
Just fucking tax your income as income, quit this fucking bullshit con artist crap of having no taxes on some kinds of income. Fuck that.
SouthernFriedHoney 2 years ago
Magic -- you already tax the living shit out of the rich -- if they WORK for it. Does this escape you --- do you not grasp this?
Of course you don't.
The basic fact is -- you are already, right now, taxed 200-300% higher if you WORK for your money, if you are self employer or operate a business. You get the living fuck taxed out of your ass if you work. We have huge money tied up in our business -- huge investment. We are taxed like crazy - cause we actually operate it nd work.
SouthernFriedHoney 2 years ago
Those crazy Republicans believe we should let individuals invest their on money how they see fit instead of letting big brother do it. How crazy!
pholland 2 years ago
Phol dumb fuck -- my family invest in a print business, works their ass off, employes people and does a great job,
Why the FUCK should we have to pay huge taxes on our work -- - while capital gains is not taxed all?
Dumb fuck - we invest in our business nd employees -- we take huge risk. But hve to pay huge taxes.
Why the fuck should one type of investment (without work) not be taxed at all, while you tax the living fuck out of actual work?
12FlyMe 2 years ago
So what if the rich get richer? We shouldn't punish people for there success in life.
Magicguy15 2 years ago
Magic dumb fuck -- tax all income types the same. We work fucking hard for our money, we invest in our business, or product, our abilities.
Fucking tax all income like you tax us. Got that retard? We are small business, we work, we take risks. But you want us to pay all the taxes??
Fuck no - tax all income the same. Quit screwing people who work for their money.
12FlyMe 2 years ago
All I am saying is, we shouldn't tax the rich more just because they have more money. I don't know what your talking about when you say "But you want us to pay all the taxes" I never said that, or even any thing like it.
Magicguy15 2 years ago
Republicans love to cut taxes. They love to ultimately cut taxes forever. BUT, and the BIG BUT is this. Republicans LOVE TO BORROW from CHINA to make up for their tax cuts. This process is not PATRIOTIC.
That stark fact — China is the largest foreign lender to the United States — has changed the core of the relationship between the United States and the only country with a reasonable chance of challenging its status as the worlds sole superpower.
xake19 2 years ago 2
obama just put us into more massive debt with china and then started to print more money devaluing our purchasing power and the Chinese return. republican or democratic they are both monsters
the only trustful political body is WE THE PEOPLE
Vadornleather 2 years ago
I bet this guy wakes up and argues into a mirror as a form of masturbation. I just can't believe no one has pulled him aside and just shaken the shit out of him yet. He just spins this horseshit double-talk over and over. "The rich wouldn't pay taxes." FALSE. If you cut CG Tax to 0% the rich still pay income tax just like everybody else. But no, lets punish investment, innovation, and financial foresight. Cenk, you are a hack and an asshole.
nCorelli 2 years ago
It's interesting that the paradox of the free market is that after a while it's NOT free in the end. Example, u have 100 small companies dealing in the same goods. Some do well some go under, The ones that do well expand into that share of the markets. So now you have 70 companies, and the process continues and accelerates because the biggest companies can undercut the competition by running at a loss for a year or so. In the end you're down to 3/4 companies, back door deals and price fixing.
RedNProud 2 years ago
dont worry once republicans get back power theylle have all the time to try this crazy ideas, which shuld be fun to watch
flipperboy 2 years ago
From outside.
RedNProud 2 years ago
Bachman is clearly insane and actually believes what she says, but most republicans are only interested in protecting their corporate interests. it's amazing to me how they've convinced lower/middle class americans to vote against their own interests
Melldandy 2 years ago
WHAAAAAAAAAAAA
dcc914 2 years ago
do you even know what capital gains tax is? I don't think so.
birdcrazie 2 years ago
I believe taxes should be cut across the board. And capital gains would be one of those cuts. No one who invests or saves their money and actually makes the right financial decisions should be punished! It's ludicrous! I mean, the fact that we have to say and make things like HSAs "tax-free" just shows how tax-obsessed some people are in this country. They can't keep government's filthy hands off our money! There's no reason to tax capital gains. It's perhaps the dumbest tax.
whoo689 2 years ago
The capital gains tax is too broad, for one thing. Why should individuals who win things like the lottery, game shows, and gambling have to pay the same taxes on sums of money that are MEASLY compared to what big business makes and pays w/ the tax? That's punishing middle- or lower-class folks who get lucky and actually get the chance to move up the ladder. Or people who invest in stock in the long-run. Why punish them? Or taxing IRAs. What kind of nonsense is that?
whoo689 2 years ago
Most times Ihear Mrs. bachman talk, I wonder how could someone vote for this airhead. I do not think she understands how or what capital Gains Tax works. This representative must be made safe from herself, do not vote for her in the future, I mean it.
tarpumpphillips 2 years ago
the capital gains tax should be zero.
jsgoodfella 2 years ago
It is time to stand up and say
We get to choose
We get to choose
It's one of the two
liberty or tyranny
ehrengm 2 years ago
lol... republicans... and you are all bashing obama...
TheCagedTiger 2 years ago
Gee, a Republican who wants to give huge tax cuts to the rich? I am shocked. Maybe it will trickle down....oh wait THAT DOESN'T WORK.
MagnesDrachen13 2 years ago 2
actually it does
jsgoodfella 2 years ago
actually it doesn't. "Trickle Down" economics (ie Reaganomics) doesn't work. Its a nice theory (especially if you're getting the tax cuts), but economics don't work that way. You don't give tax cuts and HOPE people will do something.
MagnesDrachen13 2 years ago
then how does economics work? higher taxes discourage growth investment, and hirinng new people, as taxes increase the cost of doing business
jsgoodfella 2 years ago
Exactly. You FORCE them to through government.
KingGinger1 2 years ago
Works more efficiently than socialism or whatever you support... President Obama supports lowering the capital gains tax to 0, whether he will or not is another story... But I rest my case.
KingGinger1 2 years ago
oh god, i want this mans babys lol
livvidd 2 years ago
I'm not saying you're a socialist which i wouldn't say is a bad thing, it's just that we live in capitalism so there's no point going over to socialism territory. You're right that government is corrupted, but "average" person isn't necessarily "fucked for life" either. You can still afford your big TVs and game systems so please don't give me that bullshit.
For me, I think democratic socialism is the way because people would get same education, same pay, same amount of respect.
dragonnewby 2 years ago
Taxes are needed but with two binding restrictions:
1. Stop increasing them. Raising taxes won't solve this crisis dumb motherfuckers.. Set it a level and keep it there.
2. None go to government. I'm talking about people like Democrats and Republicans. Taxes should go to services that are actually needed.
101LegendKiller 2 years ago
are you kidding?
I'm gonna respond to both points
1.Increasing taxes won't help? Wow. I know you want your new TV or game console system. But come on, the more money there is in treasury the faster US will back the debts which in case you don't know are THIRTEEN TRILLION dollars. There's no easy way, only increasing taxes will help
2. So umm, how exactly are people in government going to support THEIR families, because you know they aren't lifeless corpses... And what are these SERVICES?
dragonnewby 2 years ago
No it won't help, because people WON'T SPEND! You want the economy to roll, let people spend, not have to pay taxes at up the ass rates..
The government is a complete failure. Fuck all Democrats, Republicans and anybody else who has a interest in politics...
101LegendKiller 2 years ago
So umm, let's here... who's gonna run the country? I mean it would better be somebody rather than people just making random policies. IT DOESN'T WORK... It was proved long LONG ago in Ancient Greece and in even Roman Empire to some extent. See, the thing is people only care about themselves... That's why leader is required to constraint those policies and make choices of which ones are right or wrong and execute them.
Second, spending money on what? Who's gonna pay off that debt then?
dragonnewby 2 years ago
I don't believe in a "leader" because it's another word for "Dictator"
Who's gonna pay off the debts, I don't know. My education never taught that. To help little by little, legalize ALL drugs and REASONABLY tax them.
101LegendKiller 2 years ago
There's also another word for leader: president. If you have never been taught something, you cannot argue on that point because as you admit yourself you don't know much about. Why would you want to legalize ALL drugs? Weed I understand because it's cheap source for lot of things, but what's the point of legalizing meth? Usually gangs get profit from selling drugs not the people so it wouldn't make sense because people don't get profit the gangs do so it wouldn't help the economy whatsoever.
dragonnewby 2 years ago
President = dictator in "less scary" language.
As for legalizing all drugs, because the war to fight them is stupid and costly. Drugs can slowly help the debt which is only 10+ trillion and growing... It being illegal only encourages drug usage. Prohibition never has worked and will never work on/for anything.
101LegendKiller 2 years ago
There's a HUGE difference between president and dictator, but a major one is that president lets people make policies and dictator makes the policies himself and has all the power. North Korea is right now in dictatorship, compare that country to US.
I already told you that treasury will get nothing from drugs because they are all controlled by gangs. Government cannot just start selling drugs because they are first of all, dangerous to make and they are bad for citizens.
dragonnewby 2 years ago
There's no such thing as a president, it's a dictator. Except he's held in line by either, A) The people if he's a democrat or B) The rich motherfuckers if he's a republican
And drugs, so what if there bad? Who gives a fuck, stop controlling peoples live. Too much protection in "Land of the free" Let the people choose, not some cunt in a suit trying to screw the people for his own interests.
101LegendKiller 2 years ago
There's another word for that: president.
you're starting to cross line between capitalism and socialism here....
I actually don't know what reply to your drug comments, I want to stop the "war against drugs" because it's useless, but i don't want drugs to be legal. No drugs is one of the laws, country has to have different policies and laws that's what defines the country except for culture and landscape.
dragonnewby 2 years ago
So I'm a socialist for the truth? Perfect use of knowledge, I'm glad to know my votes don't mean shit in elections. This country bends over backwards for big corporations and the rich but, if you are an average person you are fucked for life.
Drugs being illegal result in more usage. If this is really the land of "your choice" then let people do drugs all they want. People have to stop this protection bullshit.
101LegendKiller 2 years ago
oh god i want ur babies too, legendkiller
livvidd 2 years ago
This group should be called "The Young Dorks". Corporations create jobs, this includes small businesses. The political machine on the left has found the best way to get votes is to keep poor people poor and then use taxes (on the evil rich people/corporations) to "share" wealth in the forms of handouts and keep people dependent on thesm so they will vote for whom ever promises them the most.
You idiots just don't get it. When enough people are poor, there won't be enough rich people's money
1SmedleyDog 2 years ago
you cut their taxes so they can keep some employees
militiaman45 2 years ago
Everybody's so out to get the rich! oh, The lower middle class doesn't own stocks! CAPITOL GAINS HIKES, EFFECT THE LOWER CLASSes, someone sells there house,any capitol gains! they have to pay the same as the rich guy! capitol gains taxes aren't ajusted by income/ tax bracket= the rich can aford the increase, I CANT. It's like seine nets, they try to catch the tuna, but they catch the dolphins also, that are feeding on the Tuna. thank you Obama for the extra few bucks a week in my paycheck.
solardragon223 2 years ago
And Mr Obama, your welcome for taking it back in the new cigerette tax( $6 per carton) And charli crist (Fl)= $10 per carton,
solardragon223 2 years ago
Circuit City the corporation doesn't pay capital gains tax, it pays the corporate income tax on their profit. It is the investors in Circuit City that pay capital gains tax on their dividends and stock price gains. In way way those profits are taxed twice in our system because of this. I wasn't sure if you made a mistake or if you just have no idea what your talking about.
AdamSmith04 2 years ago
haha ya, saying that more tax cuts are going to help the economy is tantamount to saying that someone who is drowning is dying because their getting too MUCH air.
ballin0like0buddha 2 years ago
@ballin "tax [...] is tantamount to [...] air"
Your analogy is backward. An air-restriction is essentially a tax on air. A tax break is analogous to a lessening of air restriction.
When an individual refers to something as 'taxing", do you believe he is referring to something that is lightening his load?
hitssquad 2 years ago
You are a dumbass! Did you ever stop to think that Maybe she was talking about cutting taxes so "THE AMERICAN PEOPLE" had money to shop at CC and BB and other stores instead for scam liberal groups like acorn could use the poor and homeless for a vote and then toss them back out on the streets
MY GOD YOU LIBERALS are so mean to people, maybe you should spend your time picking people up, show them a skill and help them get a job and maybe then they would have some self respect.
WinChicken 2 years ago
Since she specifically said "Capital Gains and Corprate Taxes."
No. She was not talking about, ""THE AMERICAN PEOPLE,"" as you would say.
occhamsrazor 2 years ago
Robin Hood was just a movie and Steeling from the haves and giving to the have nots just gives you more of the have nots and less of the haves, what happens then is you have to take more from the haves and then again you are going to have more have nots. Then you have to take more from the haves and once again you end up with......DO YOU GET WHERE I AM GOING WITH THIS! See your "Rich" spend or invest and thats what gives people that want to work a job you liberals are so cruel to poor people
WinChicken 2 years ago
Are you a reglious person? If you are I see you don't follow the bible.
occhamsrazor 2 years ago
Also the whole The "Rich" invest so they shouldn't have to pay more story is crap. The "Rich" as you say, don't hire. Companies do. Are cause if that was the case Why don't the "Rich" just hire. The don't. I don't see Bush goin out and hiring folks. The same for O'Riley either. As well as I don't see Olberman or any "Rich" liberal hiring. Do some start companies and then hire folks... Of Course! But this whole leave the rich alone and they will hire you crap has got to stop.
occhamsrazor 2 years ago
Cause if that was the case then why do we have this economic crisis to begin with? What there taxes were not low enough to hire?
occhamsrazor 2 years ago
This was "crisis" (liberal word for lets raise taxes) is from the housing bubble that wild Bill and Democracts like Frank Dodd and botox Pelosi stated with Freddy and Fanny giving loans to people that could never pay them, Bush and McCain tryed to stop it but were shut down.
WinChicken 2 years ago
So, only the liberals are to blame. Not the banks that gave the loans. Not the folks that got the loans. But liberals... Yeah, agree to disagree.
occhamsrazor 2 years ago
And again only people who couldn't afford a house got foreclosed on? No one who were say middle class lost their home? I mean if you hace documentation to back up that claim I would love to see it.
occhamsrazor 2 years ago
The people that have been getting foreclosed on are people from all groups and life syles. What happend was when you give loans to anyone and back them up with government (fanny Freddie) the banks then where forced by groupd like ACLU and acorn claiming racisum if you didn't loan to people with bad credit. That then makes it so everyone can buy a house and when that happens prices sky rocket, then middle class guy has to take a risky load to aford his house and then he falls behind and so on
WinChicken 2 years ago
So again you contend that it was the liberals fault. Because the said everyone should be able to buy a home. Were the banks forced to give these loans? Did they have to go out and go door to door and hand people loan checks? And how is a loan risky? I can see how the borrower is a risky that he might not pay it. But how are you taking a risk taking the money from the bank? And again the middle class didn't have to take the loan. They could have kept renting.
occhamsrazor 2 years ago
And no I'm not putting all the blame, unlike you and just one segment. If I can't afford a loan I don't take it. Now if I can afford a loan but lose my job. Guess what then I can't make the payments and I lose. If as a bank I think you are a bad enough risk you don't get the loan. Unless I don't care if ou can pay it back cause I'm going to sell your loan to another anyway. Seee where I'm going with this?
occhamsrazor 2 years ago
This is why we need government out of the banking game all together! You have to right ideas you just have never heard that congress was forcing them to take these loans. You should watch some Milton Friedman videos and then you can learn how free markets can work
WinChicken 2 years ago
Congress never forced anything! They deregulated. That was the problem. Otherwords there was too little watching of what these folks were doing. So even less watching is your solution. Oh and this stupid myth that the government forced. Came about cause when they deregulated anybody to set themselves up as a mortgage company. and the banks paid them a fee for every mortgage they these companies took in. Fanny and freddie said screw it cut out the middle man. And started doing it themselves.
occhamsrazor 2 years ago
You are so wrong on so many leavels, every problem we have with health care, banks, and the car companys is because of too much government regulations. If people want things like lets say airbags in a car they should be able to purchase a car with airbags but if I want to put my life at risk I should be able to purchase a car with out them and save myself tons of money, if more people want airbags the markets would have put them in everycar. Free open markets is the only thing that works
WinChicken 2 years ago
You are correct on the fact that everyone was making loans, the reason banks were taking them is the fact that they where called racist if they didn't. They took the loans and then sold them off the Fanny and Fredy make a lot of money. Again government gave them the money told them to loan to anyone and not to worry about because the tax payer is backing them up. More gov and more regulations have never worked anywhere "The New Deal" is what caused the problems in the 30s not less government
WinChicken 2 years ago
So racist? That is why banks loaned? Yeah, end of discussion.
occhamsrazor 2 years ago
So Shocking isn't it, the ACLU and Acorn using race to get something, like I don't know a guy elected as president! LOL you libs are so blind.
How does giving people free food shelter and cash and then telling them don't go to work because if you get laid off it takes months to get back on help them get back on their feet? You people just want to repress the poor so you can take money from middle class people and give it to them, you can feel so much better about yourself you make me sick!
WinChicken 2 years ago 2
SO, what did he say that was RACIST? this is why liberals are bigots, you weren't intelligent enough to debate/dispute HIM, so you fell back on the only battle CRY/LIE you know= RACIST....WHY DO LIBERALS CALL BLACK REPUBLICANS, OR BLACKS IN GENERAL WHO DONT AGREE W/THEM, RACIST NAMES? I didn't agree with everything he wrote, but you lost your battle and me, the moment you called him a racist!
solardragon223 2 years ago
opps never said anything about public schools, what do we always hear comming from state capitals & even on TV ads "SCHOOLS NEED MORE MONEY" have you ever heard them say "OK we are good thank you tax payers" if schools where all private and gov gave me my choice of where my kids went schools would compete for my kids and they would do it cheaper and better!
The power to do good is also the power to do harm ~ Milton Friedman
so stop holding people back with hand outs, lets pick people up
WinChicken 2 years ago 2
Hand outs? So the bailout was bad then. The government should have just let them fold. In that thought who would be hit hardest? Lets see is it the excutives that made millions per year for years before? Or will it be the guy that was making 30- 40k per year. You know what you have convinced me. As soon as you start you crusade against food stamps, students loans and grants, small business loans and grants, medicare, medicade oh and social security I will jump on the bandwagon.
occhamsrazor 2 years ago
LMFAO, you mean the guys like me that had nothing to do with AIG that now have to pay for it! Has the bail out worked? has the stimulas worked? Food stamps are a joke, I can go down to my Local store have 3 people walk up to me to buy their EBT card for 1/4 what its worth! man government money well spent.
medicare, medicade oh and social security these are all going to be brook in a few years where have you been.
why should I pay 4 people to compete with me, let them work & get their own $
WinChicken 2 years ago
Guess what, the Earth is cooling too and we have nothing to do with the temp on this planet "WHAT" thats right there is this thing called the sun the comes and goes everyday the provids us with day light and heat. See if you think about things a little bit and not just follow people like Al Gore (is worth $100,000,000 off of global war..I mean climate change) you might wonder things like how do we know what the temp is suppose to be, wasn't most of America under ice once & so on
WinChicken 2 years ago
yes they are at fault for paying too much for houses, they did not have to buy them you are correct. The banks were forced by congress via Acorn and the ACLU to make these bad loans then they sold them off to Fanny and Freddie (government backed companies)
A risky loan is an intrest only, arm loan, or a balloon mortgage these get people into the house and then after so many years it turns around and bits them in the ass! now that home prices r down its hard to refinace out of them
WinChicken 2 years ago
Yes see they invest in lets say a Cercit City or Best Buy, then CC or BB go out and grow. THey then have to hire people, those people then make money and gain skills that they can take to another job or starting there own company. Now you tell me or show me how the govenment creates jobs and grows the economy, prove where this works and I'll jump over to your side...LMAO
WinChicken 2 years ago
So only, they, meaning I guess the rich invest. And my point still stands why didn't they invest as you say. I know this is hard to understand but a store doesn't sell if no one buys. You can hire all you want but how are you going to pay them if you don't sell to consumers. So the government doesn't provide loans to start businesses? Nor do they help by maintaining roads or public transit? I guess the police and fireman are unpaid volenteers. Oh and supporting the school system is hogwash.
occhamsrazor 2 years ago
yea if they did such a good job on public transit, why do I (someone that never uses it) have to pay for it with my taxes? Public roads are taken care of but with a lot of wasted tax dollars. Same with police and fire (I do think Government should run these) Do you think there would be water shortages if a private company ran the water company? I'll save you time here the answer is no. People are scared PBO ripped off investers with the car companys so there are putting their money in Gold.
WinChicken 2 years ago
I am not a die hard but do believe in God and Jesus. I'm a little taken back by this. Are you saying that in the bible it says that we should "Donate" by force to a government so they can tell people not to work and have self respect. I guess I kinda missed that in Sunday school. Yes the bible says we should give back and help the needed but it doesn't say we should force that on others. You liberals are some of the cruelest people in the world
WinChicken 2 years ago
i think only people who r completely uninformed about the economy for the past 2 years can say that bush tax cuts caused this mess. seriously, its the most ignorant argument u could possibly make. if u wanna blame bush for every bad thing in the whole world (and i know all u libs want to), blame his massive spending, not his tax cuts (even that can't be blamed for ALL of this tho)
MattCich 2 years ago
i'd also lower capital gains maye not to zero but say cut them by 25%
billyysands 2 years ago
i'm a democrat and i think cuttng the corp tax rate to 25% would stimulate the economy.
billyysands 2 years ago
All you libs get off welfare.
bgvworldwide 2 years ago
Comment removed
therealdizzyizzy 2 years ago
This has been flagged as spam show
I wish i could push the thumbs-up button a million times over, once for every lie that pelosi and reid tell us
therealdizzyizzy 2 years ago
Cenk your an idiot. The reason for our econimic mess is simple...outsorcing. PERIOD.
Learn Cenk before you speak. You look like a Turkish idiot.
calimar28 2 years ago
renesaso454 2 years ago
I cannot answer to liberal garbage such as yourself. People who respond to others by calling them fal names, are un-intellegent, and not worthy of a debate of any kind. Therefore, your not worthy of my time kid. So eat your Capn Crunch and go to bed..
calimar28 2 years ago
Oh, oh, excuse me.
You can dish, but you can't take it.
How fuck'n typical...
What are you, simple?
renesaso454 2 years ago
I'm going to go with every single economist on this one... the reason for this was not outsourcing it was a four headed monsters. A perfect storm involving the housing market, the freeze on credit, consumer confidence, deregulation.
darktequila18 2 years ago
no tax money should ever be spent on Acorn. I dont care if they are liberal or conservative, no political orginsation should ever get taxpayer money.
calimar28 2 years ago
I GET IT NOW! 8-o The republicans are the party of the corporations. Whatever puts money into their pockets from the highest bidder, thats how they legislate. We need to kill the republican party. As long as they exist, and are taken seriously we will continue to see bush's in the future, cuz to them it doesn't matter who they put in office. As long as he/she tows the party line.....
blacksnakethe1 2 years ago
Oh god are we still on Acorn? Can't Fox make up some new imaginary enemies? Are they too lazy even for that?
megamarsvin 2 years ago
What the world would have if the GOP was in government
Creationism taught in schools
Complete disregard for HUMAN RIGHTS, THE LAW AND JUSTICE
A woman who thinks Dino's ran around in a mystery world called Eden with Adam & Eve
Further economic stupidity
on and on it goes, what a nightmare
franks2732 2 years ago
I'm not rich but I'm going to pay Capital gains tax this year for the money I made off stocks this year. I'm all in favor of 0% Capital gains tax
Gpgill2 2 years ago
I hope you don't claim to be patriotic. Or claim to support our troops if you complain about paying taxes. Taxes are how we support all the things our government does with our money: our military, roads, bridges, etc.
sophiemarie49 2 years ago
I want what she smok'n.
owhabe 2 years ago
Take a look at the top 10 countries which we have a trade deficit with, then take a look at THEIR corporate tax rates and notice that only Ireland has a lower corporate tax rate than the United States. Do the math. The jobs are going to countries with HIGHER TAX RATES. That means that tax policy has fuck-all to do with job losses. The answer to these "mysterious" job losses is TRADE POLICY (NAFTA, CAFTA, etc.) When we impose tariffs on business, they have no choice but to stay in the US.
tkabat66 2 years ago
This comment has received too many negative votes show
Ok DUMBASS when you raise taxes guess what!!! Everyone pays more which means EVEYONE loses more money and guess what thats where you get country's like Cuba or China where NO ONE has money but when you lower them people keep there money. HEY imagine that keeping your money rather than giving it to the government.
shortman698 2 years ago
I don't want to raise taxes on "everyone", I want to have a progressive tax system that lowers taxes on the lower class, lower/keep taxes on the middle class,& raise taxes on the upper class.
Besides, taxes don't make money disappear. The government is the nation's biggest/richest consumer & philanthropist. It invests/funds programs that raise the common standard of living: social security, education, subsidized loans to small businesses, etc (hopefully universal health care in the future too)
aznkor101 2 years ago 2
It's amazing how stupid you are. If there were no taxes on CG then businesses would grab that chance and go for it. Creating jobs by hiring new workers and embarking on new enterprise. This would stimulate the economy.
She showed from many studies how it is PROVED to work!
Cenk is an idiot to just ignore the FACTS and go blundering on like the fool he is.
112namrepus 2 years ago
Econ 101: business goals are to either maximize profits or minimize costs.
Imagine a corporation. 70% of its revenue pays rent, wages, mortgages, etc. 20% goes to taxes, and 10% is profit that is used to invest in new capital to make business better. Let's tell them they don't have to pay taxes anymore. 70% pays costs of production and 30% becomes profit now. 1st, they don't need to hire more workers because they'll lose profit,
aznkor101 2 years ago
Wow you really dont get it do you.
Capital gains taxes have NOTHING to do with corporate taxes. Who is saying anything about making corporate taxes zero? First you might want to learn what capital gains taxes are before you talk. Raising capital gains taxes will cut investment which is bad for EVERYONE. So before you tell me about Economics which I TEACH maybe you could at least talk about the right TOPIC. Wow. I said the majority here have nbo idea what a CG tax is and you proved me right.
rrriccch 2 years ago
I made capital gains -- and I made them by investing in China and canadian mining stocks.
Don't tell me capital gains = jobs, you lunatic. Capital gains is made also from detroying jobs. When you shut down your plant here, and open one in Mexico - you get cap gains for the sale.
So this whole bullshit idea of capital gains being so fuching holy that it shouldnt be taxed, is nonsense.
God bless capital gains, but tax it like we tax work and wages. Quit the bullshit./
NawwLeans 2 years ago
Someone should put this woman in a strait jacket!
IsisStarlights 2 years ago
Capital markets are unstable. In the past there was no way to make them stable. But today we have computer power that can be used to make them stable. By using the greater computer power of today we can have a much higher turn over of capital in the capital market. This higher turnover will make the market harder to game or control and the market will no longer have the unstable run ups or declines. Who can change or control the market when say 20% of the capital is trading each day?
martynstrong 2 years ago
Wow, it is hilarious to read just how stupid people are. The richest 5% already pay 90% of the taxes and you people want more. Seems like a lot of people would like to sit home do nothing and let the handouts roll in. Why work the rich will pay all your bills. I guarantee the majority writing on here have no idea what a capital gains tax is or how raising it slows the economy but thats par for the course. Take an economics lesson and stop listening to every piece of liberal crap you hear.
rrriccch 2 years ago
Well for one the top 5% have the majority of the wealth, and they can afford to pay a little more than someone who is barely getting by paying his bills and who already has 2 jobs. Other than that, if everyone would just do what you mockingly say, then there would be no rich, the rich are only rich because of the people working for them. I am not for raising the capital gains tax but if the economy was doing great and we needed to repay debts then I may support raising it and cutting spending.
DaRealDMoney 2 years ago
Yeah they don't understand. They did not even play the whole clip.
112namrepus 2 years ago
and plus, they don't need new workers because their increased profits can invest in more capital machinery to replace human labor in the production line. Business expansion relies on efficient capital goods to push the production possibilities curve. Decreasing human labor lowers costs and maximize profits.
I just gave you a step-by-step logic of microeconomics. If you plan to rebuttal, please do so in a logical manner. If you don't respond, I'll assume that I've persuaded you to my cause.
aznkor101 2 years ago
Is that a good enough LOGICAL rebuttal. I should even have to rebutt what you are saying as you have no idea what a CG tax is. By the way you can tell Adam Smith FROM THE 1700's that ther rich already do pay almost all the taxes in the US. His statement holds true. What I am saying is enough is enough. Just because certain peopl lack the intellect to ever be rich, the rich should not be blamed for that and made to pay their entire way.
rrriccch 2 years ago
The thing about capital gains is that it is liquid wealth that can easily convert into money, and it's wealth isn't created from the manufacture of goods and services. Some of these liquid assets are in the form of stocks, bonds, and mutual funds that indirectly invest in businesses, but it is absurd to say that the more one retains their capital gains, the more society and the economy benefits. Self-interest does not completely lead to the universal good of the community
aznkor101 2 years ago
"The necessaries of life occasion the great expense of the poor...the greater part of their little revenue is spent in getting [necessities]. The luxuries and vanities of life occasion the principal expense of the rich...A tax...therefore, would in general fall heaviest upon the rich; and in this sort of inequality...It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more" Adam Smith, founder of Capitalism
aznkor101 2 years ago