I know people are probably upset over my comments but I have to say that being a minority, I feel like that black lady felt today in the town hall meeting.
I am tired of defending Obama and his administration. I honestly think people would have been happier as I know I would have been, to see wallstreet eat crow and fall on their own sword but instead we bailed them out and as soon as that happened they again turned their back on the American Public
I am all for increasing the tax rate on those that make over 250k, though I do believe their needs to be stips to that increase, like if you invest your money in the market, like most of us do and hold that investment for 5 years or more, I feel that the profits on that investment should tax free, anything less than that should be tax at 40%
That alone would immediately stop all this day trading and put an end to volatility in the market.
It would also allow companies to focus on a more long term objective and actually hire workers instead of what they are doing right now as hiring for a cycle then firing them for down cycles.
The tax rate would also be exempt to those that make over 250k and actually donate over 20% over their yearly earnings to charity.
I am in the over 250k bracket and I can say that a tax cut means nothing to me because I save all my money, and I can only buy so many video game systems, cars, houses and etc.
There is no trickle down effect from me, I actually own a business in the ghetto and the poor spend all their money so I believe it makes sense to give them the biggest tax cut, heck, I say fix it so they don't have to pay any taxes at all because they usually end right back giving all their money to people like trying to live the so called "good life" with out understanding money management first.
So if I could get a break for investing back into my business and for investing in the stock market without having to pull my money out by the end of the day to make a freaking buck, I would actually not mind being taxed 40% of my yearly income
I think any repub or tea bagger would totally agree with that synopsis.
Right now, its damned if you do and damned if you don't; if Obama wanna win over Wallstreet he needs to kick congress in they butt and make them write a bill to allow tax free profits for investors that hold investments over 5 years.
Who is with me on this idea? I don't care what your political view is, if you are with me then be with me!!!!!