Show of HandsShow of Hands

DeusOrbus February 3rd, 2014 8:13pm

Precaution: I am not an economist so this might be a really stupid idea. Would it be beneficial or detrimental to the economy if capital gains tax was dropped, but loopholes are closed and federal income tax on the top earners is increased?

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stefanie22 Cincinnati
02/05/14 5:56 am

A lot of top earners (people like Mitt Romney) make the majority of their money via capital gains. They're sooooo rich their money works, not them.

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EnderWiggin So disillusioned...
02/05/14 1:49 pm

"Trust fund babies are people, my friend!" Isn't that his quote?

TierasPet
02/03/14 6:40 pm

Well, I'm not an economist either so I can't help much here. Just reading.

doctalk not all who wander r lost
02/03/14 5:43 pm

Economy either moves on aggressive private sector investment or the governments. Both can work. One seems more efficient than the other.

TierasPet
02/03/14 6:41 pm

I'm guessing that would be private. Just a hunch.

doctalk not all who wander r lost
02/03/14 7:11 pm

Actually neither. I was teasing. American greatness cones from small business. Big business and Gov rides the coat tails of their success.

Jack14 Massachusetts
02/03/14 2:21 pm

Yes to part one, yes to close loopholes and no to the last.

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EnderWiggin So disillusioned...
02/03/14 1:26 pm

I'm not one either, but eliminating cap gains would encourage more people "playing" the stock market and making that a more volatile mess than it already is. Just my 2¢.

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DeusOrbus Stay Positive
02/03/14 1:37 pm

Yeah, what I figured would happen is that the rich would invest more and work less allowing for lesser companies to fill in previous gaps.

EnderWiggin So disillusioned...
02/03/14 1:44 pm

And destroy the banks in the process.

EnderWiggin So disillusioned...
02/03/14 1:44 pm

Until the socialist gvt bailed them out that is...

Rosebud Ohio
02/05/14 1:42 pm

I don't see that happening. If you have a bad stock, you still lose a crap ton of money...

EnderWiggin So disillusioned...
02/05/14 1:46 pm

Those that invest long term, yes. They're not the problem. It's those that play the market daily who capital gains REALLY means something to who will ruin it for the passive investor.