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Subject: Re: Bingo, you figured it out! I'm impressed.
(V): [ If everyone in the US .. ok, the 99% got together and closed all the tax loopholes.. I think it'd be quite feasible to permanently lower tax rates for the rich. ]
If the tax code had been simplified and constructed to be truly "fair" a long time ago, there would have been no need for tax loopholes to come afterward. After excessively taxing the wealthiest, legislators needed to go back and create ways for them to be able to keep more of their money... why? So they might have something left over to invest in growth, that's why. If this sounds crazy it's because it IS crazy... take it away with one hand and give it back with the other. Sound familiar?
Investment means growth of business (that means more jobs) and fewer people out of work, and that means more taxable income is being generated for the government!!! So why does government invariably try to discourage the goose that lays the golden eggs from laying the golden eggs? The government doesn't benefit from a distressed economy, so what are they trying to do?
If potentional investors are discouraged from investing it doesn't mean they are shoving their money into off shore accounts. It means they are shy about investing their money. So it's really not my business or yours what they do with that money, because it belongs to them. And if they decide NOT to invest, because of governmental rules and restrictions and charging fees for doing this than and the other (taxable) thing, what can the government do about that? Make it illegal to NOT make investments? Okay, maybe (I wouldn't put it passed them) but until that happens there's nothing to stop potential investors from pulling out of doing any future business and simply retire on what they have.
Because of how poorly the economy is doing and because of what Obamacare will do to business starting in 2014, we will continue to see more and more people retire before they had planned to... that's already happening, people are already starting to jump ship, and why not? The damn thing is sinking fast, and Obama is up there on the deck drilling more holes in it so the water will (hopefully) drain out. Well, good luck with that Mr President... you insufferable moron!!
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