Quote:
Originally Posted by spence
Not taxed as income obviously.
What you still haven't answered is why profit without capital investment deserves to be taxed at a rate specified for capital gains.you tell me, it isn't/hasn't in the US, nor...as we just discussed, in the UK...must be a reason....right????
This isn't about treating private equity managers differently, in fact the idea is to simplify things so they're treated the same.what would you like to simplify?
-spence
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what this is about is a simplistic argument claiming unfairness with no real basis....I have posted reasons as to why carried interest is and has historically been taxed as capital gains and why capital gains are different from earned income(can't believe it was necessary)...apparently the reasons are suffucient and proper to keep it(carried interest) categorized that way despite the rhetoric both here and abroad in a far more "fair" and leftist place ....I have no pony in this race, I don't care how they are taxed, it doesn't affect me, the issue that I have is the ginned up resentment(and you've displayed it in many of your comments...) based more on bitter sentiment than facts all in an effort to impose fairness to further feed the very big mouth of government
and all of this takes the focus off of the real issue which is SPENDING!!!...
we've gone from...
it's not fair that millionaire Romney pays lower tax rate on his "income" than Joe the Butcher
to.....
income is income.......... no matter how it is derived
to....
"answer why profit without capital investment deserves to be taxed at a rate specified for capital gains"..... despite the fact that it isn't and hasn't been in any example we can find
I'm cool with one tax rate for everything, everyone...something tells me that the "lib dems" would still spend every waking hour(and probably in their dreams too) trying to figure out how to push it higher and higher and higher
Britain's most talent workers flee to avoid high tax rates - Telegraph
Nick Clegg: 'we'll stick to our guns on mansion tax'
Nick Clegg vowed that the Liberal Democrats will “stick to our guns” on a mansion tax, insisting owners of £2m homes should be made to pay more.
OCCUPY ENGLAND
The Deputy Prime Minister attacked “eye wateringly lucrative assets so often hoarded at the top” calling for the Coalition to do more tax “serious, unearned wealth”.
they just start drooling don't they?
"They need help quickly as they're facing high bills, they've had to face very high energy and electricity bills, and I think the Government should - we already are - but we should try and do more for exactly these people," he said.
sign em' up!
A source close to the Lib Dem leader said: “Nick wants to call time on a tax system that has passed its sell-by date. Between now and the Budget, Nick and Danny [Alexander, the Chief Secretary to the Treasury] will be arguing for faster tax cuts for hard-working families, paid for by increasing the amount paid by the richest.
quit fiddlin' Nick...just take it all!!!
The Office for National Statistics announced yesterday that gross domestic product had fallen by 0.2 per cent during the final three months of 2011.
If the economy fails to grow in the first three months of 2012, Britain will have slipped into a double-dip recession for the first time since the 1970s.
has Obama been "focusing like a lazer" on the British economy?
Yesterday, David Cameron called the latest figures “disappointing”.
he should have Obama do his figures
But tax increases for the wealthy are controversial.
The 50p top rate of income tax, the reduction of which the Lib Dems have opposed, has been blamed for making Britain unattractive to wealth creators.
no way??!!
ŞThe Coalition’s new pension scheme, under which firms would automatically enrol every employee into a company pension plan and contribute, is to be delayed by two years, ministers admitted yesterday.
just "deem it passed" and give Obama Care type waivers to all of your buddies and screw everyone else, it's working just great here in the Colonies Steve Webb, the pensions minister, said the scheme would not be fully phased in until October 2018.
this sounds great...I like "scheme"
Nick Clegg: 'we'll stick to our guns on mansion tax' - Telegraph