Ideal Tax Rates on investments

Nov 2012
41,281
11,887
Lebanon, TN
Here's the thing, Peter Diamond tells you how he arrives at 73%, I tell you how I arrived at 70%.
How'd you get to 10%?
(Hint: You don't have any idea, because you don't understand economics)

If you tax investment at 73% YOU WILL NEVER SEE INOVATION . you will see small and midsized companies disappear

I would pull all my investments and put them under my matress
 
Jun 2012
41,952
15,181
Barsoom
The number of 10% is reasonable, and should be lower. Seventh percent capital gains tax is a socialist's dream number that will decimate the capital market. That is the problem with socialists.
 
Jul 2014
16,056
10,347
massachusetts
The number of 10% is reasonable, and should be lower. Seventh percent capital gains tax is a socialist's dream number that will decimate the capital market. That is the problem with socialists.
Where does 10% come from? The Bible?
We had much higher capital gain tax rates and much higher ordinary tax rates (coincidentally? much higher growth rates at the same time)
Your tax policy is based on dogma, not research, not facts.
There is no serious economic research that supports GOP tax policy, it's just what the donors want.
 
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Jun 2012
41,952
15,181
Barsoom
Twenty-five percent is not much higher.

The ordinary effective tax rate was in the same ballpark as today.

My tax policy is not what I can find on Google or from a French socialist.
 
Jul 2014
16,056
10,347
massachusetts
25% was still too low, but it was coupled with a 77% estate tax and a 70+% top income tax rate, so it worked.
 

RNG

Forum Staff
Apr 2013
41,272
29,556
La La Land North
Where does 10% come from? The Bible?
We had much higher capital gain tax rates and much higher ordinary tax rates (coincidentally? much higher growth rates at the same time)
Your tax policy is based on dogma, not research, not facts.
There is no serious economic research that supports GOP tax policy, it's just what the donors want.
Well, if it's good enough for the church, it should be good enough for the government.

However, no talk about tax rates means much without including the list of allowable deductions.

Wasn't the top rate in the 90% range at one time but they could deduct almost everything to the point that their effective rate was again less than much of the lower classes?
 
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Jun 2012
41,952
15,181
Barsoom
I think it will be fantastic when these wealth re-distributionist sell their stocks with a 70% tax rate.