Obama tax plan

[Ardentfrost]

Originally Posted by Phantom

The favored rate for capital gains is downright stupid. It rewards people who have money to spare for passive income and punishes people who actually work (actively) to improve their lives.

CGT doesn't punish people who work for a living. Income tax does that. This thread isn't about regular income tax, but if you're suggesting lower it, I'm with you!

[Phantom]

Originally Posted by Ardentfrost

CGT doesn't punish people who work for a living. Income tax does that. This thread isn't about regular income tax, but if you're suggesting lower it, I'm with you!

IMO long term gains tax should be higher than ordinary income - reward people who actively earn their income

[Ardentfrost]

Originally Posted by Phantom

IMO long term gains tax should be higher than ordinary income - reward people who actively earn their income

That sucks for people who want to earn retirement without loaning money to the government (like me).

[hsmith]

Originally Posted by Phantom

IMO long term gains tax should be higher than ordinary income - reward people who actively earn their income

So people that invest and allow companies to borrow money, create new jobs should be punished for lending their money out?

You wouldn't have a job if it weren't for investors. Them risking their retirement is reason enough for them to keep the profits.

[Phantom]

Originally Posted by hsmith

So people that invest and allow companies to borrow money, create new jobs should be punished for lending their money out?

You wouldn't have a job if it weren't for investors. Them risking their retirement is reason enough for them to keep the profits.

That sucks for people who want to earn retirement without loaning money to the government (like me).

Do you disagree with me or are you suggesting investment is important in general?

Of course saving/investment is necessary, but IMO the tax system should favor earned income over investment income. Do either of you disagree with this and think it makes sense to tax earned income more than investment income?

[Ardentfrost]

Originally Posted by Phantom

Do you disagree with me or are you suggesting investment is important in general?

Of course saving/investment is necessary, but IMO the tax system should favor earned income over investment income. Do either of you disagree with this and think it makes sense to tax earned income more than investment income?

Money has to be earned in order to invest it. Invested money doesn't come from people's asses.

[Rouger2]

Originally Posted by Ardentfrost

Damn dude, you are WAY later. You need to look up history of relations with Cuba. Before the 50's we were great friends... we traded with them, people could go there. It was all about sugar production and Castro wanting to become less democratic and more communist.

I guess you never lived during that period of time. The moment the very moment that Castro took over after his revolution we became enemies. Communism was very scary back then, people were digging under ground shelters, and he was a communist. He scared the hell out of us and we didn't want trade or US citizens visting Cuba and we even tried to over throw him. Bay of Pigs. We were friends with Cuba before Castro but certianly not after he showed his communist face and it was right away because he started murdering thousands of the middle and rich class that did not escape to the florida. There was no honeymoom with Castro.

[Ardentfrost]

Originally Posted by Rouger2

I guess you never lived during that period of time. The moment the very moment that Castro took over after his revolution we became enemies. Communism was very scary back then, people were digging under ground shelters, and he was a communist. He scared the hell out of us and we didn't want trade or US citizens visting Cuba and we even tried to over throw him. Bay of Pigs. We were friends with Cuba before Castro but certianly not after he showed his communist face and it was right away because he started murdering thousands of the middle and rich class that did not escape to the florida. There was no honeymoom with Castro.

Platt Amendment: 1901 - gives US gitmo in exchange for withdrawl of US troops after the Spanish-American War
Batista: 1940's and late 1950's - President of Cuba for a while, including once by way of military coup. Very friendly with United States (was helped by Truman to gain power), and led to a lot of US corporations going there.
Cuban revolution: 1959 - resulted in Castro taking over. US recognizes Castro as the new leader of Cuba and start relations with him.
1959-1961 - Relations with Cuba deteriorates over agrarian reforms and state-controlled companies (eg., the onset of communism). This was the key point at which the started to fuck our US-Cuban relations which up until this time were decent.
Bay of Pigs: 1961 - bad stuff from here on out.

[Rouger2]

Originally Posted by Ardentfrost

Platt Amendment: 1901 - gives US gitmo in exchange for withdrawl of US troops after the Spanish-American War
Batista: 1940's and late 1950's - President of Cuba for a while, including once by way of military coup. Very friendly with United States (was helped by Truman to gain power), and led to a lot of US corporations going there.
Cuban revolution: 1959 - resulted in Castro taking over. US recognizes Castro as the new leader of Cuba and start relations with him.
1959-1961 - Relations with Cuba deteriorates over agrarian reforms and state-controlled companies (eg., the onset of communism). This was the key point at which the started to fuck our US-Cuban relations which up until this time were decent.
Bay of Pigs: 1961 - bad stuff from here on out.

Okay I will give you that there was a one to two year honeymoon with Castro before we found out he was a wolf in sheeps clothing, but he was the reason, along with communism, that we quit having trade and relations with Cuba. I have said all along that before Castro we had great relations with Cuba.