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Inmate Central Inmate Central, where civil and family-friendly discourse about off-audio topics (other than religion and politics) is welcome. |
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In Reply to: RE: How possibly could one object to enforcement of tax laws? Current ones. posted by RGA on October 28, 2021 at 18:09:59:
'Romney and E-Stat are correct that proposals to tax "income" or placing various taxes on luxury goods will simply alter what the rich do with their money'
no they're not! that's not all that was said ... Mitt's message is doom & gloom for the market, which is not the economy, predictions of contractions in the luxury market [meh], which hasn't contracted in decades no matter the economic climate, dogs sleeping with cats etc.
'If you increase taxes on the stock market and IF the rich pull their money and buy art or property'
oh balderdash! art is a sucker investment on valuation ... there's only 'X' pieces in existence worth asking prices in the millions ... we're talking about billionaires, & their $$ has to move to make $$!!
that class has to keep investing to avoid being taxed as billionaires instead of millionaires and Wall Street is the only [decently safe] place to wash that money through tax loopholes ... too many records in real estate and property transfers, that can cost them in the long run
the market is extremely profitable for the uber investing class just because of volatility, high speed trading, and the same thing elected lawmakers benefit from ... inside trading ... which also makes it 'decently safe' for the investor class
only the 'little guy' loses in market downturns & crashes you know ... but the market share held by 'millions' of individual investors is tiny
there's proxy vote shares up the ass though in the form of pension funds, money markets, IRA's and other 'institutional investors' ... those are the real little guys despite any illusion by those 'invested in the market' have that they've got a piece of the action ... they ARE the action
IRA's, money market funds, 'mom & pop' savings accounts, pension funds ... they'll either shrink or disappear in a crash ... the last one took out real estate market equity too! but that doesn't happen in the circles Mitt orbits though
so of course Mitt wants to scare voters away from that type of tax increase AND keep the frightened little guy with his IRA and pensions in the market and in line, in a house or condo they can't afford, and spending!
the top 10% and those in thrall always squeal about any change to the status quo
with regards,
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Follow Ups
- RE: How possibly could one object to enforcement of tax laws? Current ones. - rivervalley817 10/28/2120:08:48 10/28/21 (2)
- RE: How possibly could one object to enforcement of tax laws? Current ones. - RGA 04:19:55 10/29/21 (1)
- RE: How possibly could one object to enforcement of tax laws? Current ones. - rivervalley817 12:04:17 10/29/21 (0)
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