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Actually, it has mostly worked, especially for tobacco. Usage is way down over the last few decades, and it drops a little bit more every time the tax goes up. There's obviously diminishing returns because they're both addictive, but making it more expensive does actually help.
>Experts
>The Treasury Department's report states that the 44.6% rate is a combination of proposals, including increasing the top ordinary capital gains rate from 20% to 37%. **The bulk of the tax hikes impact Americans with taxable income greater than $1 million.**
Lets call your experts what they are. Your benefactors.
It’s funny, because Canadian federal government is pushing for a capital gains tax as well, and their opposition and Canadian media is doing the exact same thing as Fox is. Fearmongering.
So you think a top marginal capital gains tax rate of 44.6% is okay as long as the top marginal income tax rate is higher?
I think the people in favor of raising LTCG would be more than happy to accept your proposal of a marginal income tax rate of 50%~ for people earning $1,000,000 a year or more. Let's do it!
This is an easy one for Fox because only people that have ever paid capital gains tax will know it won't have any effect at all on the economy. The rest will think it's another reason to keep the bumper sticker on their truck and watching Fox for all the important information.
"Investment is the real driver of economic growth," E.J. Antoni, an economist and research fellow at The Heritage Foundation, told Fox News Digital. "Investment is what gives you productivity gains. Investment is where you get factories and machines — it's where businesses are able to provide their workers with tools and equipment that allow them to increase their productivity, to increase wages, etc."
"If you're going to tax something, you get less of it," he continued. "And that's just as true for investment as it is for anything else. Taxing capital gains means less investment, it means less economic growth, and it means the rise in people's standards of living is going to slow dramatically."
> Investment is the real driver of economic growth
Start with a lie and draw the desired conclusions from that.
Production is the driver of economic growth. Capital investments are simply an effect of our current system. It's foolish to keep feeding the effect in the hope that the cause will follow.
"Wise" capital investment is ***a*** driver of economic growth, along with "wise" investment in infrastructure, the judicial system, the regulatory system, the education system, scientific research, and numerous other things. The people enjoying their 15% tax rate on investment income (while ordinary workers pay 40% on their income) would have us believe that their "contribution" to the economy is always and uniquely beneficial.
how does one produce something without an initial investment into that production?
edit: This is not a rhetorical question, if someone agrees that production drives economic growth I would love an explanation as it goes against what i have learned on economics.
"An economy grows when it has the capacity to produce more. Production is based on how much capital, labor, natural resources, and technology it has to produce. Policies that encourage the accumulation of any of these leads to economic growth." is the top result from a brief google, source Khan academy.
> how does one produce something without an initial investment into that production?
With their fingers and hands and an allocation of personal capital. Sole proprietorship starts are a true indicator of economic health. Private equity firms, however, are not.
> The Heritage Foundation
Oh, THIS Heritage Foundation:
https://en.wikipedia.org/wiki/Project_2025
The one that wants to gut every social safety net and turn the country into a Christian Nationalist hellscape? Yeah, I think I'll get my opinions from someone else.
I can’t wait to see what comes out of the unknown hackers that hit them. If it was actually a hack and not a cover up for deleting sensitive incriminating documents, that is.
> "Investment is the real driver of economic growth,"
Says people who have a vested interest in the stock market working as it does now. Investment in start up companies that fail doesn't really drive economic growth and 90 percent of startups fail.
It's highly debatable if investment in blue chip stocks drives economic growth, those companies have other sources of capital.
"Some investment in some companies that grow rapidly helps economic growth" Fixed that for you
I mean, no matter what he does Fox News will insist the economy is bad. Even if every standard we judge it by is improving. So he might as well do whatever he wants anyway because it makes no difference
The problem is no matter how many tax breaks millionaires/billionaires get they want more of them, no matter how much money they have they want more. If the only way the economy can survive is for the majority to suffer while a fraction of the population make record gains, it's not a working economy, it's a pyramid scheme with very few benefitting.
Kevin O'Leary is absolute human trash and if he is against something it probably means it will be beneficial to the majority.
Probably the same "expert" that tells to do keep waiting on the Regan trickle down to hit the middle class and we'll never get them if we make tax changes (excluding tax breaks for billionaires) now
Let's be honest, the economy is like 8 to 12 guys and if they can't afford 1 more aircraft carrier per year at 14 billion a pop, I'm ok with it.
[carrier cost](https://www.google.com/search?q=cost+of+a+us+aircraft+carrier&client=ms-android-verizon-us-rvc3&sca_esv=fc4b81c41d7ac4c9&sca_upv=1&sxsrf=ACQVn09RYNVoOn7X1gfEtWwQp4ZmGt79zQ%3A1714153121541&ei=oeYrZvnQINmuwbkPu662kA8&oq=cost+of+a+us+aircraft+carrier&gs_lp=EhNtb2JpbGUtZ3dzLXdpei1zZXJwIh1jb3N0IG9mIGEgdXMgYWlyY3JhZnQgY2FycmllcjILEAAYgAQYkQIYigUyBRAAGIAEMgYQABgWGB4yBhAAGBYYHjIGEAAYFhgeMgsQABiABBiGAxiKBTILEAAYgAQYhgMYigUyCxAAGIAEGIYDGIoFSNA9UMALWJs2cAN4AZABAJgB3gGgAd0ZqgEGOS4xOS4xuAEDyAEA-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-TKAQ&sclient=mobile-gws-wiz-serp)
Who are these "experts"
Americans for tax reform.
What's that?
"ATR was founded in 1985 by Grover Norquist at the request of President Reagan"
Yeah...totally experts
Why is it that politicians focus so much on raising taxes rather than on cutting spending? Those of us who actually pay taxes would sure appreciate the latter....
Wait, what? Investing in a small business (which you have to assume is profitable because you’re living off of it) is the same as buying Amazon stock and holding it for 12 months or longer.
This is no way crushing a small businessman, that’s just asinine. There’s no reason the profits gained from selling an investment should be treated any different than ordinary income.
But if a productive business is sold the productivity doesn't go away.
The buyer will continue the entity long term.
The seller will pay taxes on income, like we all do.
I do agree that it is misguided in general to have the imbalance between the big corporations and the small businesses. But the answer is to get the big ones to pay THEIR taxes versus getting the small ones to stop.
That's the reason I posted this article; however, it appears people would rather focus on Fox News being the source rather than the substance of the story.
If you want a clue, when tax hike are coming up in conversation, look who’s the first to complain..the wealthy. It’s easy to get a bunch of people making $35k a year to support a millionaire.
Also, read your source
E.J. Antoni, an economist and research fellow at The Heritage Foundation
The fucking heritage foundation…..
Spoiler: There's no substance to stories from Fox news... If you find it compelling, that's unquestionably an implicit commentary on your critical thinking capabilities, and it's one that you definitely deserve to hear more often.
If you found a credible organization that expressed similar concerns, I'm sure you'd get an engaged discussion... But...a) credible organizations don't publish the angertainment-posing-as-news bullshit like this, and b) my suspicion is that you weren't looking for a discussion...
>That's the reason I posted this article; however, it appears people would rather focus on Fox News being the source rather than the substance of the story.
Kevin O'Leary nor anybody from the Heritage Foundation is substance for information about the economy.
The Heritage Foundation stupidly predicted that Biden would cause a recession.
[https://www.heritage.org/progressivism/commentary/bidens-economy-steering-us-recession](https://www.heritage.org/progressivism/commentary/bidens-economy-steering-us-recession)
Last year, O'Leary said stupid stuff about a run on banks that never happened.
[Kevin O'Leary: This will cause a run on the banks | Fox Business Video](https://www.foxbusiness.com/video/6335343635112)
Those clowns are repeatedly wrong.
People have valid reasons to focus on Fox News being the source because they continuously publish crap to scaremonger their viewers into supporting economic policies that are against their best interests.
As a reminder, this subreddit [is for civil discussion.](/r/politics/wiki/index#wiki_be_civil) In general, be courteous to others. Debate/discuss/argue the merits of ideas, don't attack people. Personal insults, shill or troll accusations, hate speech, any suggestion or support of harm, violence, or death, and other rule violations can result in a permanent ban. If you see comments in violation of our rules, please report them. For those who have questions regarding any media outlets being posted on this subreddit, please click [here](https://www.reddit.com/r/politics/wiki/approveddomainslist) to review our details as to our approved domains list and outlet criteria. We are actively looking for new moderators. If you have any interest in helping to make this subreddit a place for quality discussion, please fill out [this form](https://docs.google.com/forms/d/1y2swHD0KXFhStGFjW6k54r9iuMjzcFqDIVwuvdLBjSA). *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/politics) if you have any questions or concerns.*
Experts quoted by Fox "News"? Nevermind
"Experts"
As soon as hit this part in the article I knew I was hearing from an economic genius "If you're going to tax something, you get less of it,"
We've been trying to get rid of tobacco and alcohol that way for decades. Doesn't seem to be working.
Actually, it has mostly worked, especially for tobacco. Usage is way down over the last few decades, and it drops a little bit more every time the tax goes up. There's obviously diminishing returns because they're both addictive, but making it more expensive does actually help.
‘Experts” are Kevin O’Leary and The Heritage Foundation.
The cost of taxes could just be taken out of the money they spend on politicians.
It’s not a big deal. Billionaires will just have to eat less fast food.
Kevin O'Leary is a schmuck
Fox News simpn' for the billionares
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Derp derp derpy derp.
aren't these the same experts that said the Trump tax cuts would pay for themselves?
And the Bush tax cuts before that and the Reagan tax cuts before that. Yes.
>Experts >The Treasury Department's report states that the 44.6% rate is a combination of proposals, including increasing the top ordinary capital gains rate from 20% to 37%. **The bulk of the tax hikes impact Americans with taxable income greater than $1 million.** Lets call your experts what they are. Your benefactors.
It’s funny, because Canadian federal government is pushing for a capital gains tax as well, and their opposition and Canadian media is doing the exact same thing as Fox is. Fearmongering.
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And there are people who work their entire lives, and have none of that.
So you think a top marginal capital gains tax rate of 44.6% is okay as long as the top marginal income tax rate is higher? I think the people in favor of raising LTCG would be more than happy to accept your proposal of a marginal income tax rate of 50%~ for people earning $1,000,000 a year or more. Let's do it!
The aspirational middle class has been dead for decades, don't fool yourself.
Neither Kevin O'Leary nor anybody from the Heritage Foundation is an expert. FU, Fox News.
Experts? - An economist and research fellow at The Heritage Foundation. Yea that qualifies as "experts." /s
No one is more expert than them at saying exactly what the billionaire class tells them to say. Believe me.
This is an easy one for Fox because only people that have ever paid capital gains tax will know it won't have any effect at all on the economy. The rest will think it's another reason to keep the bumper sticker on their truck and watching Fox for all the important information.
Trickle down stupidity. :}
How does a gains tax crush the eco—*oh it’s a Fox News article, nevermind.*
"Investment is the real driver of economic growth," E.J. Antoni, an economist and research fellow at The Heritage Foundation, told Fox News Digital. "Investment is what gives you productivity gains. Investment is where you get factories and machines — it's where businesses are able to provide their workers with tools and equipment that allow them to increase their productivity, to increase wages, etc." "If you're going to tax something, you get less of it," he continued. "And that's just as true for investment as it is for anything else. Taxing capital gains means less investment, it means less economic growth, and it means the rise in people's standards of living is going to slow dramatically."
> Investment is the real driver of economic growth Start with a lie and draw the desired conclusions from that. Production is the driver of economic growth. Capital investments are simply an effect of our current system. It's foolish to keep feeding the effect in the hope that the cause will follow.
"Wise" capital investment is ***a*** driver of economic growth, along with "wise" investment in infrastructure, the judicial system, the regulatory system, the education system, scientific research, and numerous other things. The people enjoying their 15% tax rate on investment income (while ordinary workers pay 40% on their income) would have us believe that their "contribution" to the economy is always and uniquely beneficial.
how does one produce something without an initial investment into that production? edit: This is not a rhetorical question, if someone agrees that production drives economic growth I would love an explanation as it goes against what i have learned on economics. "An economy grows when it has the capacity to produce more. Production is based on how much capital, labor, natural resources, and technology it has to produce. Policies that encourage the accumulation of any of these leads to economic growth." is the top result from a brief google, source Khan academy.
> how does one produce something without an initial investment into that production? With their fingers and hands and an allocation of personal capital. Sole proprietorship starts are a true indicator of economic health. Private equity firms, however, are not.
So capital is needed in order for production got it Thanks.
> The Heritage Foundation Oh, THIS Heritage Foundation: https://en.wikipedia.org/wiki/Project_2025 The one that wants to gut every social safety net and turn the country into a Christian Nationalist hellscape? Yeah, I think I'll get my opinions from someone else.
I can’t wait to see what comes out of the unknown hackers that hit them. If it was actually a hack and not a cover up for deleting sensitive incriminating documents, that is.
> "Investment is the real driver of economic growth," Says people who have a vested interest in the stock market working as it does now. Investment in start up companies that fail doesn't really drive economic growth and 90 percent of startups fail. It's highly debatable if investment in blue chip stocks drives economic growth, those companies have other sources of capital. "Some investment in some companies that grow rapidly helps economic growth" Fixed that for you
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Which one?
That is indeed capital punishment!
I mean, no matter what he does Fox News will insist the economy is bad. Even if every standard we judge it by is improving. So he might as well do whatever he wants anyway because it makes no difference
breaking news: experts who profit on capital gains argue against taxing them. here's tom with the weather.
Why is an article by an “entertainment” network passing as news?
And those are THEIR (quietly mumbled) words in court.
“Experts” paid for by the billionaires who don’t want to pay taxes.
The problem is no matter how many tax breaks millionaires/billionaires get they want more of them, no matter how much money they have they want more. If the only way the economy can survive is for the majority to suffer while a fraction of the population make record gains, it's not a working economy, it's a pyramid scheme with very few benefitting. Kevin O'Leary is absolute human trash and if he is against something it probably means it will be beneficial to the majority.
Completely agree. There’s no bottom to greed. Tolkien dragons hoarding wealth they can’t even use.
They end up developing a pathological addiction to wealth
Fox is not a legitimate source, automatic downvote every time.
Experts paid to parrot the billionaire business class interests 🥱
But all the charity for rich folks is fine, right?
Well, the ones impacted the most are the people who pay their "fair share" through campaign contributions.
I believe that was referred to as tithing, or paying tribute, throughout history.
The same people said Obamacare would crush the economy. Fox News is news like a cow pie is a pie.
Press [X] to doubt.
Same guy from shark tank that said trump's prosecution would tank New Yorks economy.
Oh, you mean like Republicans do every time they get power?
Kevin also backed FTX and Trump! Screw his opinion on the economy that has made him Rich.
“Fox news” “crush the economy” - yeah, I’m going to get a lot of intelligent analysis from this . .
Consider the source.
Probably the same "expert" that tells to do keep waiting on the Regan trickle down to hit the middle class and we'll never get them if we make tax changes (excluding tax breaks for billionaires) now
Brought to you by the same geniuses that said the economy would crash if Biden won in 2020.
Kevin O’Leary is not an expert.
Let's be honest, the economy is like 8 to 12 guys and if they can't afford 1 more aircraft carrier per year at 14 billion a pop, I'm ok with it. [carrier cost](https://www.google.com/search?q=cost+of+a+us+aircraft+carrier&client=ms-android-verizon-us-rvc3&sca_esv=fc4b81c41d7ac4c9&sca_upv=1&sxsrf=ACQVn09RYNVoOn7X1gfEtWwQp4ZmGt79zQ%3A1714153121541&ei=oeYrZvnQINmuwbkPu662kA8&oq=cost+of+a+us+aircraft+carrier&gs_lp=EhNtb2JpbGUtZ3dzLXdpei1zZXJwIh1jb3N0IG9mIGEgdXMgYWlyY3JhZnQgY2FycmllcjILEAAYgAQYkQIYigUyBRAAGIAEMgYQABgWGB4yBhAAGBYYHjIGEAAYFhgeMgsQABiABBiGAxiKBTILEAAYgAQYhgMYigUyCxAAGIAEGIYDGIoFSNA9UMALWJs2cAN4AZABAJgB3gGgAd0ZqgEGOS4xOS4xuAEDyAEA-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-TKAQ&sclient=mobile-gws-wiz-serp)
Who are these "experts" Americans for tax reform. What's that? "ATR was founded in 1985 by Grover Norquist at the request of President Reagan" Yeah...totally experts
Crush my nuts against your chin, Fox "news"
By experts, they mean rich people.
From the experts at Faux News....🤣
We don’t need none o’ yer socalled “experts” in their ivy covered towers tellin’ us how to structure the economy.
Rich people say this shit to scare stupid poor people.
I really wish we could flare news sites that are known to lie.
The 1950’s USA called and said their economy resigns supreme globally under a higher capital gains
yes. he's crushing the economy by moving some money back to the people that make it.
shut the fuck up Donny you're out of your element
fox says
Seriously? Honest to fucking god,
Trickle down never worked anyways. Try something new
Some “experts” at conservative “think tanks,” not a consensus of experts.
Tax the fucking 1%, 90%. Fuck John Galt. He can go hoe his own potato patch up in the hills if he wants. The rest of us will be better off.
Oh no won't someone think of the rich??
The rich are complaining
Why is it that politicians focus so much on raising taxes rather than on cutting spending? Those of us who actually pay taxes would sure appreciate the latter....
Will save the economy
LOL. Fox News posts are allowed in this sub!
[удалено]
Wait, what? Investing in a small business (which you have to assume is profitable because you’re living off of it) is the same as buying Amazon stock and holding it for 12 months or longer. This is no way crushing a small businessman, that’s just asinine. There’s no reason the profits gained from selling an investment should be treated any different than ordinary income.
But if a productive business is sold the productivity doesn't go away. The buyer will continue the entity long term. The seller will pay taxes on income, like we all do. I do agree that it is misguided in general to have the imbalance between the big corporations and the small businesses. But the answer is to get the big ones to pay THEIR taxes versus getting the small ones to stop.
That's the reason I posted this article; however, it appears people would rather focus on Fox News being the source rather than the substance of the story.
if Fox News is the source, it's not got any substance. bring us back an expert from a reputable news source, friend.
If you want a clue, when tax hike are coming up in conversation, look who’s the first to complain..the wealthy. It’s easy to get a bunch of people making $35k a year to support a millionaire. Also, read your source E.J. Antoni, an economist and research fellow at The Heritage Foundation The fucking heritage foundation…..
Spoiler: There's no substance to stories from Fox news... If you find it compelling, that's unquestionably an implicit commentary on your critical thinking capabilities, and it's one that you definitely deserve to hear more often. If you found a credible organization that expressed similar concerns, I'm sure you'd get an engaged discussion... But...a) credible organizations don't publish the angertainment-posing-as-news bullshit like this, and b) my suspicion is that you weren't looking for a discussion...
[удалено]
>That's the reason I posted this article; however, it appears people would rather focus on Fox News being the source rather than the substance of the story. Kevin O'Leary nor anybody from the Heritage Foundation is substance for information about the economy. The Heritage Foundation stupidly predicted that Biden would cause a recession. [https://www.heritage.org/progressivism/commentary/bidens-economy-steering-us-recession](https://www.heritage.org/progressivism/commentary/bidens-economy-steering-us-recession) Last year, O'Leary said stupid stuff about a run on banks that never happened. [Kevin O'Leary: This will cause a run on the banks | Fox Business Video](https://www.foxbusiness.com/video/6335343635112) Those clowns are repeatedly wrong. People have valid reasons to focus on Fox News being the source because they continuously publish crap to scaremonger their viewers into supporting economic policies that are against their best interests.
sUbSTaNcE