rudy on taxes

[caspian_x]

I have no idea why this is broken into two vids, but here is another reason why I want this guy to be President so badly. He understand fiscal conservatism and he can back it up with real results.

Sing it, Rudy.

Rudy on Lowering Taxes, 1 of 2

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Rudy on Lowering Taxes, 2 of 2

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PS: There are a lot of other good vids on youtube from that same

Comments

[kaali_thara]

I'm not saying that I blame him for making a mistake. Just pointing out that one was made. When queried about it later his spokesman acknowledged that the statement was inaccurate - and proposed the 44% as what he was thinking of.

I do worry about youtube in this regard. There's no good way to put in a clarification when a mistake like this occurs, even he caught it on his own and wanted to correct it. Reading a news article/watching a clip on tv after the fact you are more likely to get an accompanying correction.

I confess to knowing little about taxes, particularly capital gains taxes.

I do happen to know a great deal about the supposed "DEATH TAX". I know that even when it exempted estates of $2 million or less it ended up only applying to about 5% of the population that might have to consider it in their financial planning before death in order to avoid it. Only about 1.5% of the population ended up paying it no matter what. So where is the justification for raising the exemption to $5 million dollar estates? It's not helping the little guy at all.

[caspian_x]

Acknowledged. I'm glad you pointed that out so I don't parrot that mistake later when discussing, as I like to call him, "my man Rudy".

The justification for lowering capital gains taxes? Well first of all, not every government action has to be about helping the little guy. There should be a damn good reason for the government forcibly taking your money whether you are a little guy or an obscenely rich guy. Doesn't matter. The money is YOURS. The death tax, from what little I understand about it, makes no sense. It creates an undue burden on the people it affects. I don't really care if that percentage of people is only 1.5%. The government spends way too much money and the way to cut back is to eliminate unnecessary taxes.

[kaali_thara]

It creates an undue burden on the people it
affects.

That's exactly my point though. It DOESN'T create an undue burden on the people it affects. The only people it affects have OODLES of money.

Something else that I had forgotten to mention, the great death tax fear has created some very costly consequences for old people who don't know that the death tax is nothing they need to worry about. Many old people have been conned into creating trusts for exorbitant fees (more than they'd pay a lawyer for the service I might add) in order to avoid a tax that never would have applied to them in the first place. The "financial planner" often fails to inform the client of the legal consequences of creating a trust, leading to more of a financial/personal mess.

The unwarranted hype itself has had very real and costly consequences.

[caspian_x]

That's exactly my point though. It DOESN'T create an undue burden on the people it affects. The only people it affects have OODLES of money.

By undue burden, you mean it's okay because they can afford it.
By undue burden, I mean one that is unnecessary altogether and therefor being rich doesn't simply make it okay.

Also, sometimes the inheritance is not liquid assets and therefore it is a huge burden. Having to sell your family business so you can pay the estate taxes you got by inheriting it would be an undue burden.

The unwarranted hype itself has had very real and costly consequences.

Not that I'm a fan of blaming the acts of evil on the thing they chose to use for the evil, but it would seem your point would support eliminating the death tax and thus getting rid of the fodder for such unscrupulous con-men and con-women that would use it for personal gain.