Grover Norquist's worst nightmare...

LadyJazzer wrote: Yeah, all you millionaires out there, who only rely on capital gains, better start sweating that Buffet rule. Y'all let me know how many of you in 285Bound-Land that actually affects. We wouldn't want you "job-creators" to suffer too much.

LJ- only a small percentage of people are living entirely on capital gains. Those who worked hard and saved for decades and those who are lucky enough to be born into money.

There are far more of us who- make some of our money from what we have saved and invested from capital gains. I'm one of those many who make some of my money from what I have invested.

While I still work a full time job- I hope to make more and more of my money from my savings and investment- until I retire and have to rely only on what I have invested.

Everytime the government raises the cap gain tax- it takes longer for me and everyone else to reach that goal. It affects the oldest producers of our society the most. And today with the government artificially keeping interest rates low- millions of senior citizens are putting retirement on hold.

If you want to cause the most pain possible to those who have already put in their time in the workforce- just keep raising the capital gains tax.

I wouldn't expect anything less from you socialists.

BearMtnHIB wrote:

LadyJazzer wrote: Yeah, all you millionaires out there, who only rely on capital gains, better start sweating that Buffet rule. Y'all let me know how many of you in 285Bound-Land that actually affects. We wouldn't want you "job-creators" to suffer too much.

LJ- only a small percentage of people are living entirely on capital gains. Those who worked hard and saved for decades and those who are lucky enough to be born into money.

There are far more of us who- make some of our money from what we have saved and invested from capital gains. I'm one of those many who make some of my money from what I have invested.

While I still work a full time job- I hope to make more and more of my money from my savings and investment- until I retire and have to rely only on what I have invested.

Everytime the government raises the cap gain tax- it takes longer for me and everyone else to reach that goal. It affects the oldest producers of our society the most. And today with the government artificially keeping interest rates low- millions of senior citizens are putting retirement on hold.

If you want to cause the most pain possible to those who have already put in their time in the workforce- just keep raising the capital gains tax.

I wouldn't expect anything less from you socialists.

Well said :thumbsup:

Yeah, I make money from some of my investments too... B.F.D. When you get to the level that the "Buffet rule" kicks in for you, let me know. Otherwise, your crocodile-tears don't affect me much.

Its true today with 401Ks, Roth IRAs, the explosion of discount on-line trading accounts, low cost mutual funds and ETFs, there are plenty of opportunities for the average American to own company stocks and participate in capital gains. The fact that many would rather buy a new car, big screen TV, boat, RV, or $300K house and consume and be buried in debt instead is their choice.

I have been investing in the stock market since I was 20 or so.

http://www.businessweek.com/articles/20 ... y-the-rich

So even with the Buffett rule, plenty of schemes to avoid taxes. That's why economists all say lower cap gains rates actually bring in more revenue.

How to Pay No Taxes: 10 Strategies Used By the Rich

I guess only dumb millionaires without good accountants would have been paying the Buffet tax. LOL

For those who can afford a shrewd accountant or attorney, our era is rife with opportunities to avoid—or at least defer—tax bills, according to tax specialists and public records. It’s limited only by the boundaries of taste, creativity, and the ability to understand some very complex shelters.

Yes, if there are ways to get around it, then we should just stop trying to collect taxes.

OR, we could pass the Buffet rule as part of a comprehensive reform and start closing the loopholes...I'll vote for that.