Real Class Warfare And Capital Gains


The subclass of the very rich who mooch the most via the tax absurd treatment of capital gains and carried interest, such as hedge fund managers, venture capitalists, and other “investors”, have captured *both* political parties. The only way the capital gains tax and carried interest exemption will ever be made fair by treating those sources of income as no different from wages is for the rich who *do* make their income from wages and are taxed accordingly–such as professionals like doctors and lawyers, real businessmen who actually operate busineses that provide goods and services to customers, etc–to put their money where their mouths are and stop politically supporting the mooching and looting of their rich “investor” pals.

If you want to talk about real takers and makers, this is a class division *within* the 1%. Those who actually work for a living and make their income “the old fashioned way” are the makers, and those vultures and parasites like Romney and his buddies are the takers. The only hope for a reconfiguration of the tax system so that the burdens of running a complex developed society like the United States are shared equitably is for the makers of the 1% to put their collective feet down and tell the greedy moocher and looter 1%ers (really more like the 0.01%ers) that they have had enough and they can go fucken pound sand: they are gonna pay normal tax rates.

Comments

  1. flex says

    They want a tax break?

    Okay, here’s a plan I could get behind.

    Have capital gains are taxed as income, and make dividend payments tax free.

    Results:
    1. CEO’s/CFO’s will want to collect dividends rather than stock options.
    2. Dividends are only possible when the company is profitable (selling the assets only works once).
    3. Company profits will be used to grow the company, improve inefficiencies in the company, or dividends. Bouncing the stock price around by hiring and layoffs will not be as attractive.
    4. This type of growth requires long-term planning, not quarterly planning.
    5. Long term investment in the stock market becomes far more attractive than day-trading. Stabilizing the market significantly.

    It won’t happen as long as the people who are putting the money into politics are the fund managers, but hell, I would really like to see it.

  2. fuckesatonne says

    “The only way the capital gains tax and carried interest exemption will ever be made fair … is for the rich who *do* make their income from wages and are taxed accordingly … to … stop politically supporting the mooching and looting of their rich “investor” pals.”

    What the fucken fucke do you mean, the “only” way?

    There’s another way. The rest of us who AREN’T RICH could hold ourselves a little revolution. We could rise up and DEMAND that the rich fuckers pay their share.

    Did the civil rights movement wait for doctors and lawyers? Did the gay rights movement depend on the wealthy? Did the women’s movement get women to where they are today by waiting for rich fuckes to come help them? No? Then why on earth would you say that the poor and the middle incomed need to sit on our collective asses and wait for some goddamn idiot overpaid doctors and lawyers to wake up and help us towards greater income equality?

  3. smrnda says

    I’m not betting on much change. I’ve been a well-paid professional (with emphasis on been, I’ve been on disability a lot) and the problem with people in that class are they’re pretty comfortable, and though they are burdened more than the wealthy who make money by having their names tied to pieces of paper representing ‘ownership’ I just don’t see it becoming one of their top 100 priorities. Plus, the problem of having upper class reformers lead the charge is that if our hope is one some segment of the 1% having a conscience, all it takes is fraction of them with a conscience getting lazy for a while for all the gains to be lost.

    The real problem are idiot working class and middle class people who vote against taxes on the ‘job creators’ because they buy into the bullshit that somehow, if you provide the wealthy with a way to have even more money without having to do anything, they’ll suddenly hire a bunch of people (to do what? Where’s the consumer demand?) It isn’t just how these people vote, but when a huge chunk of your population can’t even identify what economic policies are in their own interests, you have some major problems.

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