They Just Don't Get It

I pulled this comment from this article in the New York Times. In principle, to the sober among us, Romney's plan had merit. Yeah, because Obama really offered deep insights himself.

I guess people didn't like the messenger.

"I am pleased to see that some others are voicing my belief that those who buy and sell stock should pay a federal tax on every BET they are making!
The huge amount of theoretical gains that investors make does NOT filter down. It is almost all recycled back into the investment Game.
Making the players pay back into the real economy can change the entire economic picture. Instead of fantasy trickle down it would provide a real source of revenue.

PS 20% of a middle class person's income as taxes seriously impacts their everyday living while even 35% or more of tax to millionaires would have no effect on their existence, except to limit a bit their ability to play the market."

Unfotunately, this is an attitude and mentality I see to often among NYT readers. They can't get it out of their heads that because corporate "greed" as they perceive is widespread what they advocate actually discourages the incentive to take risk to build wealth through investment.

Already rates of returns are low now (never mind the fees paid to invest), you want to further erode a lousy 6% return? If you tax it, it may become 4%. Why take a risk then? Just put you money in a CD. Markets then hurt because that's one less investor taking a chance. That's just one scenario among many.

Taxing everything in sight is not intelligent policy. It's inefficient. I'd even say people who think this way are the real extremists since it's their mindset that prevents those with ambition among the "lower" classes from achieving financial success.

There is sooo much that is wrong with the statement above.

The "bet" people are making is that they grow their money. Everything you do is taxes on all levels. In some cases, people pay double-taxes. People invest for retirement, their kid's education, to hopefully open a business. People are motivated by endless motives this individual is deliberately or ignorantly not considering. Taxing the person's gains only defers these goals and objectives. In the end, "society" loses.

The "bet" is not meant to filter down. That's nonsensical liberal orthodoxy that has gotten out of control lately. People act in SELF-INTEREST. Get used to it. Secure your own lot before you can look beyond yourself. No one owes anyone squat. When I invest my money, I'm not saying, "Oh, my gains will benefit others!" That's fucking irrational.

I can only make and take decisions based on my own perceptions and concerns. My gains are not prey for revenue predators of the state to go pay for some program I don't agree with. That's what income taxes are for. If the state is compelled to go after the money I took with my own initiative to take risk, then maybe it's over extending itself to begin with. But no one thinks about that because all they see is CEO greed.

Let me put it this way. It's the 'Presence of Mind Factor.' The person who thinks long-term, plans ahead and displays discipline in saving money by investing it, shouldn't be penalized with a tax. How is that remotely "fair?" Is it right they manages to earn a capital of gain, of say $10 000 only to have the government take half?

Makes no sense to me.

The final paragraph, aside from its presumptuousness (how do they know how the rich are impacted? I guess the possibility they have greater responsibilities or expenses is negligible since they're all sipping vodka at the local golf club. Nah, they're all lazy and greedy) is especially perplexing. So if taxes impact middle-class families, then why not a cut? And if not, why go after the ONE proven method of creating wealth in dividends and capital gains?

It's like they're incapable of looking of the entire big picture. All these things do is HURT the small guy they so desperately want to protect in their minds. All solutions run through taxes.

Alas, it's all about one-size fits all in a one-speed world now.

Better to keep all in chains because we can't take the chance. Let's make all our decisions based on one version and concept of what constitutes greed.

Fuck me.