On 14/06/2011 9:32 AM, I_am_Tosk wrote:
In ,
says...
On Mon, 13 Jun 2011 23:56:30 -0600,
wrote:
On 13/06/2011 5:33 PM, wrote:
I did hear one idea on capital gains that sounded interesting. Tie the
tax discount more closely to how long the investment was held.
They already do in the USA for cash accounts. 40k/IRA get the full hit
on withdrawal.
Explain the "cash account" thing?
I agree 401ks are a time bomb and I think we ain't seen nothin yet on
those taxes.
You wouldn't get the full tax break until it was held 5 years and make
it a higher percentage ending at the regular income rate at 1 or 2
years.
Fast way to scare off investment. In todays market, 5 years is not even
calculated. Too many changes coming for a commitment that long without
some guarantees no one will or can make.
A huge part of our problem is that businesses work in 90 day windows
while out competition in China looks at decades at a time.
For example, if you give me a 20 year tax rate guarantee for property
and income tax that I like, I would buy a Florida property tomorrow
morning. But with the debts out of control, I will hold off and decline
thank you. No sense in moving to the taxed poor districts of USA. And
Florida is one of the better places.
There is no income tax in Florida and we have SOH limits on property
taxes. That may actually be a bad thing because if we get a round of
massive inflation, the local communities may go broke. They were
certainly fat during the housing boom because the property taxes were
pegged to the sale prices and they were fantasy. The smart communities
like mine banked that excess money. although we did let the school
board get out of control ($20k per student kind of out of control)
I was wondering why the democrat pundit was pushing 401's as the
"safest" way to go right now... "FREE MONEY" he said, "from your
employer". I guess it makes sense now, then they can tax the crap out of
you and your employer... 
As of last year I ceased contributing to tax deferred funds. As the
fleabaggers look with envy and greed at those fat juicy taxable 401K/IRA
(RRSP/LIRA for Canada).
The idea is I want my money liquid and free to move fast without tax
issues if the governments don't fix their fraud and misbehavior. Study
of why Roman Empire fell is a good read, just government greed and
corruption.
--
Government isn't the solution to the bad economy, it is the problem.