Ask beenthere here!

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NoDrama

Well-Known Member
desert dude said:
Drop the tax rate to zero for all funds kept in a US financial institution. Drop the capital gains tax rate to zero for capital gains in American companies.
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They already give you a HUGE tax advantage to buy US Treasuries, you pay no fed tax at all. Of course the rates are complete shit at 65 basis points for a 5 year.
 
desert dude

desert dude

Well-Known Member
I would like to suggest a fairer "Ask XXX a question". Instead of bombarding beenthere, or anybody, with a long list of questions and then badgering him to answer, how about asking a set (small) number of questions, say three.

I type fairly fast, but I certainly would not want to have to give essay answers to 20 questions, each one of them designed to make me look like a "right wing authoritarian".
 
desert dude

desert dude

Well-Known Member
NoDrama said:
They already give you a HUGE tax advantage to buy US Treasuries, you pay no fed tax at all. Of course the rates are complete shit at 65 basis points for a 5 year.
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True, but treasuries don't spur hiring, at least not in any way that I can think of.
 
desert dude

desert dude

Well-Known Member
NoDrama said:
They already give you a HUGE tax advantage to buy US Treasuries, you pay no fed tax at all. Of course the rates are complete shit at 65 basis points for a 5 year.
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And, at 65 basis points with inflation running at 2.5% (if you believe the government CPI number, which I don't) you have a real return of -1.35%, which is probably not the road to prosperity.
 
abandonconflict

abandonconflict

Well-Known Member
canndo said:
Oh my no Life, what you are talking about is an illusion. We are expected to believe that a totally free market is in the best interest of consumers but it is in the best interest of stock holders first and foremost. You are talking about a situation where there is no subversive influence over the population. This sort of free enterprise does not exist and may have never existed. I can see how you might believe this but it is not so. the free market is not a stable thing.
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This is the point I have been trying to make, the closest I have gotten to receiving a response is Beenthere distorting my argument.
 
cannabineer

cannabineer

Ursus marijanus
desert dude said:
Maybe so, but that was not the question you asked.
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Lol true; I'm hoist upon a semantic petard. If I added the adjectives and conjunction "useful and effective" to the question, might I invite you to essay an answer in keeping with the spirit of the question and not just the letter? cn
 
B

beenthere

New Member
canndo said:
How does money in an offshore account create jobs in America? I am not "saying" anything and I am certainly not claiming that Romney is obliged to do anything at all with his money.
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Cmon, if you're not insinuating Mitt Romney is morally obligated to do anything at all with his own money, why are you so interested in offshore accounts and their ability to create domestic jobs?
This is the sly disingenuous side of you I dislike.
 
N

NoDrama

Well-Known Member
desert dude said:
And, at 65 basis points with inflation running at 2.5% (if you believe the government CPI number, which I don't) you have a real return of -1.35%, which is probably not the road to prosperity.
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For sure, but there are a lot of dumbasses out there, the US Treasuries are selling like hotcakes!
 
abandonconflict

abandonconflict

Well-Known Member
beenthere said:
With all due respect, I think your statement is backwards.
I contend the federal government policies are mingling with the free market!
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YOU HAVE NO RESPECT! Don't try to pretend you do. This is why I am so hostile. You left out half of my argument, fixated on half a premise to distort the entire point just to say I have it backwards. They are fucking mingled. So now we agree on that, how about you try and understand why the word ignorant is so common when anyone addresses you. You ignore anything that doesn't jive with what you say but know isn't true. Do I have to post cartoons?
 
desert dude

desert dude

Well-Known Member
cannabineer said:
Lol true; I'm hoist upon a semantic petard. If I added the adjectives and conjunction "useful and effective" to the question, might I invite you to essay an answer in keeping with the spirit of the question and not just the letter? cn
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That is a tougher question. Maybe the best way to answer it is in an iterative fashion. You said cutting the rates to zero would cause other problems. List them and maybe you and I and others can brainstorm solutions.

Full disclosure: I am not an economist or any sort of financial type.
 
desert dude

desert dude

Well-Known Member
NoDrama said:
For sure, but there are a lot of dumbasses out there, the US Treasuries are selling like hotcakes!
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Which is one reason, the main one actually, that the yield is so low. Is it fear of the financial meltdown in Europe that is causing a "flight to safety", or what? Why the heck are people lining up for a negative return?
 
cannabineer

cannabineer

Ursus marijanus
desert dude said:
That is a tougher question. Maybe the best way to answer it is in an iterative fashion. You said cutting the rates to zero would cause other problems. List them and maybe you and I and others can brainstorm solutions.

Full disclosure: I am not an economist or any sort of financial type.
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Neither am I. I an seriously crippled by a scientist's insistence that things make sense.
In the iterative spirit, the big problem i see with granting blanket tax amnesty to capital gains is a large loss of tax revenues. Certain places (Monaco leaps to mind) have nonexistent income/cap gains tax, but they have collateral and quite sufficient revenue as a "niche economy".
Like it or not, the USA's Federal budget embraces some huge liabilities/obligations on its balance sheet. I would like to see a revenue system that meets those obligations and also brings in a surplus to reverse this pernicious federal debt.
So the question I'll ask is: can there be a tax scheme that excuses cap gains to zero, meets the obligations the State has accrued, and isn't a damaging burden to the taxpayers? cn
 
canndo

canndo

Well-Known Member
beenthere said:
Actually no, it's just as clear as the last question.
So I'll repeat myself if you like. People like you think "big business" is the root to all of our economic woes. Unlike you, I believe that it is the governments involvement with big business that creates the evil you think exists in big business.

You see all regulations as a public service, I see some of them that way but also understand that the over regulating that government is notorious for paves the way for market takes overs by eliminating competition, hence crony capitalism. You I believe fail to realize this.
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Big business wants you to cling to a certain set of opinions and beliefs Beenthere. They spend hundreds of billions of dollars in order to have you believe what they wish you to believe. The very fact that you are incapable of understanding the question indicates that those billions were not wasted.

What do you believe that big business would not want you to believe?
 
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