<object width="416" height="374" classid="clsid27CDB6E-AE6D-11cf-96B8-444553540000" id="ep"><param name="allowfullscreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="wmode" value="transparent" /><param name="movie" value="http://i.cdn.turner.com/cnn/.element/apps/cvp/3.0/swf/cnn_416x234_embed.swf?context=embed&videoId=bestoftv/2011/08/29/exp.piers.mark.cuban.paying.taxes.cnn" /><param name="bgcolor" value="#000000" /><embed src="http://i.cdn.turner.com/cnn/.element/apps/cvp/3.0/swf/cnn_416x234_embed.swf?context=embed&videoId=bestoftv/2011/08/29/exp.piers.mark.cuban.paying.taxes.cnn" type="application/x-shockwave-flash" bgcolor="#000000" allowfullscreen="true" allowscriptaccess="always" width="416" wmode="transparent" height="374"></embed></object> Can you be a commie and a World Champion of the NBA?
But taxing the rich is against the libertarian/conservative orthodoxy so many ordinary folks have been brainwashed with against to the detriment of their own interests.
Incorrect. Stalin was scared of Germany. Hitler shrewdly made a pact with Stalin to keep them from war while Hitler invaded and placated France and consolidated his holdings in Europe. Germany's main goal was always to invade Russia.
I love how all these multi-billionaires that don't make income anymore and instead are subjected to carried interest or capital gains are being used by people as propoganda to raise taxes on people making a few hundred thousand a year. I'm ok with having the rates from $1 million to $5 million go to 39% and the amounts from $5 million and up to go to even 42%. But Obama wants to raise it on people making much, much less than that. Its also silly to bring up a billionaire as one could tax his income (which he already earned at lower brackets to get there) at 80% and it wouldn't change his standard of living one bit.
That is basically what I said. Russia didn't get involved in the war untill Germany invaded them, I said nothing about Hitlers point of view on Communism.
Didn't Cuban discuss raising capital gains tax to match income tax specifically in the video aboe? Isn't the GOP specifically objecting to even raising taxes on people making more than $1 million? Are you saying that those of us who make between, say, $100K and $1,000,000 will, unlike the Cubans of the world, become unmotivated by a tax increase and stop working hard, that this segment of the population was working less hard before the Bush tax cuts?
I am guessing all these people making 250000 plus were starving during the George H W and Clinton years. I mean George junior finally saved them so they can start their business and feed their family.
Neah, just tax changes impacts different groups of people. Raising top income tax rate back to 39.5% is not going to affect billionaires like Cuban and Buffet if most of their income is from dividend and cap gains. Now if you turn cap gains into ordinary income, that would be a different story. Although that probably still wouldn't matter much to Buffet, he accumulates wealth from unrealized cap gains which aren't taxed anyway.
Oh man, why didn't they let him finish his list of five?? 1) get rid of software patents 2) get rid of business method patents ... and he was cut off. HELL YES! What a boon this would be to the little entrepreneurs out there.
A person making $250,000 is more likely to re-invest his money in the economy than a person making $10 million.
But we are talking about the marginal tax rate above 250K after deductions. If a person/family is making 300K after deductions, their tax will only go up about 2500 dollars. That's not going to effect how they invest in their business at all.
