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AutoZone, Inc. Message Board

  • billberggren billberggren Jul 1, 2004 7:34 PM Flag

    OT: Capital Gains

    Capital gains taxes should be eliminated. 1) Schedule-D could be thrown in the trash - it is a very complex form to fill out often taking days to fill out; 2) It will allow investors sell and diversify into other stocks easily creating a more efficient and a less corrupt market; 3) It is much better to cut capital gains rates than corporate income tax rates, since foreigners might own u.s. stocks and thus pay taxes at the same rate rather that the lower rate they presently pay compared to u.s. citizens; 4) It is very possible and legal for terrorists or foreign foes to buy u.s. stocks to fund their activities, why give them the benefit of a lower tax rate than u.s. citizens; 5) foreign stocks owned by u.s. citizens could be taxed at full capital gains rates giving investors incentives to create jobs and companies within the United States; and 6) both the roth and traditional IRA could be eliminated, eliminating both the paperwork and potential long-term devastation to the tax base of this program. The only problem according to Robert Reich, is through loopholes, corporations presently only pay a 7 percent effective income tax rate. I am not sure if this is accurate, but it may be more wise to tax revenues and not income. The entire tax code could be replaced with:


    "All corporations and companies, must pay a revenue tax rate of X percent to the federal government. All individuals making less than U dollars will pay no income tax. A multiplier W for U might be necessary to account for marriages and dependents. All individuals making V dollars, which is more than U dollars, will pay (V dollars - U dollars) * Y percent. The numbers X, Y, U, V, and W will be determined by politicians such that the budget is balanced. All expenditures by the federal government will be published with voting records each year and provided free to taxpayers ".


    The natural resources on public lands belong to the public, not to corporations. All these freeloaders should be kicked off the land. All the oil on federal land should be managed by the federal government. Each national forest service office should have a free pole permit system where U.S. citizens can get a permit to cut enough trees to build a house (as managed by forest and range scientists of the forest service). The U.S. citizens must come first. The national forests should have a network of free primitive campgrounds, pay campgrounds with more facilities, and possibly even leased land campgrounds, providing unlimited services. Each year each citizen should get a national resources check, for all the oil, gas, water, fish, electricity, grass, land leases, and fiber removed from the public lands. Say no to ANWR unless you get this check (and without a long-term wildlife restoration and preservation plan for the area). ANWR was set up by Eisenhower, to save a small percentage of Alaska coast in a wild state. I would love to see the expression of the face when a down and out person picks up his deserved natural resources check. It will create a true national love and respect of our public lands, that of which many environmentalist presently have since they most likely use or travel on the lands.


    With these last simple paragraphs, it will give voters an easier means to select a president. Did their natural resources check go up. Did their taxes go down. It makes a permanent balanced budget so you can gain meaning out of the checks. It gives information to voters to see how the money was spent and how their congressperson voted on the spending. It will also force tax rates to rise with increased spending. It makes politicans spend their time analyzing the best way to spend the publics money rather than spending their time investigating schemes to adjust the tax code.

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