Quote:
Originally Posted by Relentless
Robbie,
Raising capital gains taxes will NOT decrease investment by even one penny.
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I suggest to you that it would.
If I saw that I was going to lose a few million dollars from capital gains being raised...I would immediately (as would EVERY person with investments) be advised to move it to another country or some other method of NOT losing that money.
It's a great way to further lose investment in the U.S. and have people bitching about "rich" people having their money in other countries.
Also...guess what's going to happen to our little stock portfolios? They are going to be worth less to us because we are going to have to pay out more in taxes on them.
And grandma's retirement plan? It's gonna be fucked as well.
None of y'all are thinking about the ramifications of this.
I can personally tell you that my accountant's (3rd one I've had and they are all the same) main job is to save you money on your taxes.
And if my accountant can find where to put my money to get the optimal growth and least tax expense...then I know damn well that really "rich" guys have even better accountants. And if investment in the stock market loses it's appeal when taxes are raised. They WILL move that money to something else.
It's common sense. And it's how things work.
If you'd like to see money pour back IN to the U.S. , then lower capital gains to ZERO. Watch what happens.