I’m a little late to the conversation, but I wanted to get this quickly out. I’ve been thinking about the question all day, and while this may come as a confused answer, I wanted to talk my way through it.
First, a previous question inquired as to how my faith impacted my vote. That is difficult to say, because faith is such a vital part of who I am. I am a Christian, and a conservative one at that and that leads to a pretty liberal outlook on politics. I take Matthew 25 pretty serious, but I also take it serious that the character of the person is worth something as well. My conservative reading of Scripture also prevents me from engaging in jingoistic warmongering. While I am leaning to voting once more the President, how foreign policy and his catering to the business community leaves me wondering just what I am voting for. Several recent articles, and I’ve said this for a long time, indicate the President is a modern Republican from the 90’s. While I was a conservative Republican in the 90’s, I am not now. I grew up, after all, and read Scripture seriously. I will generally vote Democrat, but have voted for third party candidates before. One of the issues I face in this election cycle is that I believe a GOP controlled Senate will damage this country for generations to come. Looking forward always decides my vote.
The second question was in regards to the top three issues in the federal elections. First, I am tired of war. Second, I am tired of the retread Reaganomics. Third, I believe the GOP will take us backwards. Eventually, the mimetic desire will break and will see social unrest.
So, now… for the question of capital gains. First, I think “work” should not be taxed. No income tax. No corporation tax. I believe in a progressive flat tax. In other words, no tax on food and the bare necessities of life, at least on the Federal and higher State level. Capital gains, the tax you pay when you sell imaginary pieces of paper, seems just as imaginary, but without a flat tax, one must tax things otherwise not worth taxing. I guess I view capital gains taxes like taking a census for imaginary friends. Our economy is too tied to Wall Street (imaginary capital) and not Main Street (production). I also do not believe in double taxation, something capital gains does.
But, what about selling real estate? Or actual product. Without a flat tax, you have to secure a method of raising money, and the people who have the most taxable money are those with product to sell. We need to shift capital gains out of Wall Street, limit the money traded on Wall Street (can of worms there), and tax actual product. If we could, I would limit all capital gained from Wall Street and other stocks to refocus the money into actual production.
The President has shown a remarkable ability to bend to the rich. I doubt he would support this plan. Generally, only more conservative candidates will tend to speak about the flat tax, but it will never get down.
And go here fore more detail about this roundtable.
Let me also add… my contributors to this blog or other friends are welcome to post here as well.