idiot (n): An idiot, dolt, or dullard is a mentally deficient person, or someone who acts in a self-defeating or significantly counterproductive way.
Let’s start here:
Then, we have this:
The idiots in video 1 think video 2 is somehow damning. “OMG, he said him paying lower taxes is fair!”
Problem is, they didn’t listen. Capital gains tax is a tax on a profits after all liabilities, including regular taxes, have been paid. That means, this income has already been taxed once… as he mentioned, as high as 35%.
Then, you pay a capital gains tax.. in this case, 14%. Do the math. The government is taking almost 50% of that income and that’s somehow not fair.
You’re right, it isn’t. They should take less… way less.
The real issue is that this kind of overtaxing discourages investors. Why invest in a company when the government is going to take almost 50% of any profit that could be made?
And guess what happens when you have less investors? Companies don’t get the money they need, they go out of business, and people lose their jobs.
So, quit being an idiot.
Romney is a clown for a whole bunch of other reasons like supporting the NDAA, Patriot Act, the Federal Reserve, and so on. Attack him for that stuff. Oh wait… Obama supports all that stuff, too… hmmmm…
- WSJ: Obama’s 100% Capital Gains Tax Increase Won’t Raise Revenue, But Will Hurt Economy, Jobs & Wages (taxprof.typepad.com)
- 5 Reasons Capital Gains Taxes Mean Something To People Making $50,000 (pointsandfigures.com)
- Capital Gains Tax Exemption for Investments in Startups Would Help New Companies Cross the ‘Valley of Death’ Says Kauffman Report (kauffman.org)