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Agreed. Your previous post made it seem as though you were saying that your 401(k) itself was being taxed for cap gains. Just wanted to clarify.
I'm not a fan of corporate taxes. I think they're useless, as corporations will simply pass on the cost of the increased taxes to the consumer. If I had my way, corporate taxes would be completely eliminated. However, I love cap gains taxes. The rate needs to be jacked back up to where it was under the Clinton administration. Low cap gains taxes have allowed men like Warren Buffet to pay less in taxes as a percentage of total income than their secretaries who make $50k/yr. We should raise cap gains and dividend taxes, and shift to a more progressive income tax, shifting more of the tax burden onto the wealthy.
Mostly agree.
Warren Buffet is a jackass. He's constantly talking about how guys like him need to pay more taxes . . .then proceeds to lock all his personal assets up in foundations that are tax-free protected.
Very, Very, Very well said. I don't know why people don't understand this.
Warren Buffet is a jackass? The biggest charitable contributor in history? Sorry, beg to differ. Buffet plays by the rules. If you design a system that benefits the rich guy by allowing him to shelter his money from taxes, then he's going to use it to his benefit. Don't blame Buffet for a system that favors the wealthy, especially since he's a vocal opponent of said system.
Perhaps hypocrite is a bit strong then? To use the law to your advantage is certainly what a smart person does.
To advocate higher taxes then put your money in untouchable trust funds (even though I agree that his affiliation with the Gates Foundation and their goals and methods are mostly above reproach) is a bit two-faced. In fact, the last time I checked all the money that went into that foundation was conditional based on it remaining in a tax-free status.
"Do as I say, not as I do" isn't a great way to inspire sweeping policy change.
I don't disagree with pilots voting for any party or platform.
I don't have a problem with pilots voting primarily because of a candidates' stance on unions.
However, I'm very hard pressed to find anyone here who can cite a single union issue that is being pursued that will strengthen the airline economy as a whole. The silence here is deafening when one asks what ALPA is even pursing in terms of regulatory actions . . . few seem to even know the obvious ones; blind faith is for children and zealots.
Ultimately it comes down to this: ALPA and unions are nice, and important and necessary. However, having airlines actually stay in business is even more important (job security, right?). There are dozens of possible aids to airlines the government can encourage/force, but no candidate, party, or union is discussing them.
If you believe that encouraging strong airline heath is a more legitimate voting criteria than blind faith and support in unions, then you might understand pilots backing parties or candidates on things other than "labor politics."
Pro-labor, pro-business . . . either way, I'd like to hear exactly what laws and government actions should take place in order to save airlines. What candidate or party is proposing them? What union is discussing them?
We are only having this discussion about airline survival now that fuel prices are at out of control prices. However, during all the times that the airlines were making money or paying HUGE bonuses to executives, the employees were left with pay cuts. Because they had an administration that gave all the leverage to the executives and took leverage from employees.
Labor friendly administrations can't force airlines to be profitable (unless regulated), but they can give us a seat at the table during the good times and help us not suffer so dramatically in the bad times.
The difference is who will benefit in good times. I am ready for my turn, my CEO has had his.
Soverytired, you must have missed that Congressman Oberstar and Senator Rockefeller have been talking of holding hearings specifically to address possible re-regulation of the airline industry. Do you think they dreamed this up on their own? ALPA works behind the scenes. When you see a lawmaker make a statement in defense of our profession, it's a good bet that ALPA was behind the scenes talking to him first. When you see a reporter grill an airline exec, most likely ALPA "helped" that reporter with some research for those questions. When hearings are suggested on things like airline safety and re-regulation, you can bet that ALPA had a hand in it.