On Wed, 16 Jun 2010 15:53:21 -0500, "William Wixon"
wrote:


"Hawke" wrote in message
...
On 6/15/2010 11:40 AM, Spehro Pefhany wrote:
On Tue, 15 Jun 2010 06:52:10 -0700 (PDT), "
wrote:

On Jun 15, 7:26 am, "Ed wrote:

When did we start taxing capital or savings in the US, Dan? Some
states have
asset taxes on business property, but there are no federal taxes
on either
capital or savings -- only on income. And if people object to the
asset
taxes, they can move to another state. There's no need to move
overseas to
avoid that.

--
Ed Huntress

We started a long time ago. If I bought some industrial property
thirty years ago for say $50,000 and now sell the same property
for
say $400,000, I pay taxes on $350,000 dollars. But the gain is
really
just because of smaller dollars because of inflation. ( I said
same
property. ). So that is a tax on capital.


Dan

In capitalist jurisdictions such as Hong Kong, there is no tax on
bank
interest. After all, the zero-risk return from a bank account won't
exceed inflation.


What you find in all the areas touted by the free marketeers like
Hong Kong, Singapore etc. are places where every possible advantage
is granted to businesses. They pay low or no taxes, no one tells
them what they can or can't do, and the governments work hand in
hand with them to help them make a lot of profit. Along with that
you get a country that is an ecological disaster zone, is
overcrowded, has a small elite of businessmen and government leaders
with immense wealth, and a large population of people living in
poverty and in slums with no chance of moving up. You also have no
middle class. Very similar to the old aristocracies, you have a two
tiered society of a huge poor and uneducated mass living horrible
lives and a small group of elites living like royalty. To me, that
is a trade off that isn't worth it. I'd rather see a large class of
moderately well off people and virtually no extremely wealthy
individuals. It's all just a choice each society has to make. Divide
up the nation's wealth in a fair way or not. Those free market
havens have chosen to distribute the wealth extremely unjustly. Most
Americans don't want our country to be anything like them.

Hawke


wow. perfect. i don't know how any patriotic american can refute
that. THAT'S what makes america great. THAT stirs patrotic feelings
in me. i have tears in my eyes and a compulsion to hold my hand over
my heart reading that.

b.w.
Disaster zone...he isnt talking about the old USSR, is he? The old
Russia filled with huge hazmat zones and dead vistas?

I didnt think they were capitalists. Did I miss something?

Gunner

One could not be a successful Leftwinger without realizing that,
in contrast to the popular conception supported by newspapers
and mothers of Leftwingers, a goodly number of Leftwingers are
not only narrow-minded and dull, but also just stupid.
Gunner Asch