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jmowreader

(50,447 posts)
22. There are three kinds of investments
Wed Feb 1, 2012, 11:31 PM
Feb 2012

There are the investments that create jobs--initial public offerings of stocks, bond issues, and other such investments where the invested money flows to the company whose name is on the certificate.

And then there are the "investments" where Rich Man A buys stock from Rich Man B then sells it to Rich Man C who sells it tomorrow to Rich Man D, who got the money to buy Rich Man C's stock by selling a different stock to Rich Man A. Those investments do NOT create jobs.

The third kind is the destructive one: give money to Mitt Romney so he can buy a company, fire all its workers and offshore the manufacturing of the profit, simply because he sees a dollar on the table that isn't his.

I would be totally in favor of a 10 percent capital gains tax on the first class of investments offset by taxing the second kind at the rate for ordinary income and doubling the tax rate on the third. The problem with our current way of taxing investment income is it doesn't differentiate between an investment that helps a company grow, Scrooge McDuck and Rich Uncle Pennybags buying each others' stock holdings like little kids swap baseball cards, and an investment that helps close a company down.

Read this RS piece about his father -- he sounds like a democrat and someone of strong principals! gateley Jan 2012 #1
I remember Romney from 68... WCGreen Jan 2012 #3
I've always said that those of great wealth were braver and more willing to stand for what gateley Jan 2012 #6
That has to be part of the reason they are so active in politics RZM Feb 2012 #23
Where do you think the capital to create jobs comes from? badtoworse Jan 2012 #2
In what way does it punish investments.... WCGreen Jan 2012 #4
Taxing investment income at the marginal rate does not encourage people to invest. badtoworse Jan 2012 #8
There will be no job growth in the USA safeinOhio Jan 2012 #5
YES-Thats the difference between New Deal tax policies FogerRox Jan 2012 #9
Well for me and my business, we create more capital by working harder and smarter. riderinthestorm Jan 2012 #12
Your work ethic is admirable and your success grew out of your own hard work badtoworse Jan 2012 #15
What about Jobs and Apple? riderinthestorm Jan 2012 #16
You sound like a supply sider Cali_Democrat Jan 2012 #13
Probably not from Mitt Romney or people like him. TheWraith Feb 2012 #21
There are three kinds of investments jmowreader Feb 2012 #22
The lines are not that well defined and the implementation of the idea would become hugely political badtoworse Feb 2012 #24
From "the tax code should encourage investment" to "Taxes should be for raising revenue" in 2 posts muriel_volestrangler Feb 2012 #25
I guess I'm busted. Maybe I have a future in politics badtoworse Feb 2012 #28
Jobs are created by DEMAND. If B Calm Feb 2012 #26
There is nothing "uniquely American" about self-made men. Every country has them. Fool Count Jan 2012 #7
None....... FogerRox Jan 2012 #10
Well said! And I agree...n/t CaliforniaPeggy Jan 2012 #11
I've got a huge problem with him stashing his cash in Switzerland, Ireland, and AtomicKitten Jan 2012 #14
"There is something uniquely American about the self-made man..." RUMMYisFROSTED Jan 2012 #17
All myths are based on fact... WCGreen Jan 2012 #19
Not one country? RUMMYisFROSTED Feb 2012 #20
"It wasn't a guarantee..." RUMMYisFROSTED Jan 2012 #18
There are plenty of wealthy people from privileged backgrounds that are not like Romney. Jennicut Feb 2012 #27
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