Quote:
Originally Posted by zimmy
People don't invest because they are philanthropists. They invest because it builds wealth. Investment has risk, but generally the greater risk you take, the greater the chance of reward. That is a personal choice. The incentive to invest comes from the potential to get wealth. It is gambling. The people who benefit most are the people who have the most wealth and can handle the greatest risk. I can afford to put some money in to higher risk investments. I think it is bogus that money I make from that gamble is somehow considered more important than a person's employment so it is taxed less.
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"People don't invest because they are philanthropists."
Again, when liberals cannot respond to what was actually said, they respond to something not even close to what was said.
I never came close to saying that investors are philanthropists. I said that buying stocks or bonds involves a lot more risk than I took when I drove to work thins morning. I didn't put up one cent of my own money to work for Liberty Mutual, if it goes under I haven't lost any money that I put up.
Investors need incentive to take on the risk. I don't think capital gains should be tax free, but I think it should be taxed at a lower rate than ordinary income.
Try to respond to what I'm saying, please try to refrain from putting stupid words in my mouth.
Here in CT, teacher pensions are partially exempt from the state income tax. But my IRA is not. So if I'm retired and taking 65k a year out of my IRA, and my next door neighbor is a retired teacher with a pension paying him the same exact 65k a year, he pays lower tax rate than I do. THAT is bogus. This is not bogus.
Our economy cannot function if companies do not have sufficient access to the capital they need. Lower capital gains taxes, help stimulate the desire to invest. While that helps the rich more, it's not like it has no benefit to anyone else. And it SHOULD benefit the rich more, they are the ones taking risk by investing.