Quote:
Originally Posted by askmrjesus
OK, look at it this way;
Romney bought and sold companies that were vulnerable. High debt, over leveraged, etc. Let's say he invests a million in Dildos Inc., and then sells off all the Dildo making machines for two million. He pays 15% on the million he just made. Illegal? No. Shady? Kinda.
Why? Because in addition to selling off all the Dildo machines, he also fired all the Dildo helpers.
Romney claims he knows how to help the middle class. He wants to deregulate business to the point where people like him have less hoops to jump through, when it comes to firing people, moving jobs offshore, and paying benefits. That doesn't help anyone in the middle class. It only helps douchebags like Mitt Romney.
JC
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As I understand it he would pay 15% on the million he made only if it is a long term capital gain. If selling off the machines qualifies as a capital gain (I'm not sure it would, but lets assume so for simplicity) the money would have had to be invested for more than a year before realizing the gain, otherwise it is a short term capital and taxed as regular income.
Where you really seem to have an issue is with Dildos Inc. helpers being fired. I don't like people losing their jobs either, but the reality is Dildos Inc. is failing. Those employees are losing their jobs, its just a matter of whether it is through liquidation or bankruptcy. At least with liquidation those who Dildos Inc. owes money to don't get screwed as well.