[quote]Gambit_Lost wrote:
Dhickey, we agree 1000000%. The IMF? Please, those bastards wouldn’t know a supply from a demand curve. Did you know the IMF is ACTUALLY PART OF THE UN!!!11!! Obviously they don’t know a damn thing.
All this economic “recession” stuff is BS. And obviously the government and media have made it all up!
[/quote]
I know all about the IMF and wouldn’t trust a word they said. Much like the UN.
The recessions is not all BS. Overblown but not all BS. The real fun comes after the bailout and how ever many stimulus’ they are going to pass.
It went from being overblown to very serious. Thank our fearless leaders and the media for that. They seem to be feeding off each other.
[quote]tedro wrote:
I won’t refute that a depression in the near future is possible. The biggest point I want to make in this thread is that the entire thing has been created by media and government. Any worsening of the current situation is a direct result of poor economic policy, and not that of business in this country.[/quote]
So much for a global recession. If they are able to grow that much while we flounder, our dollar will be in a lot of trouble as they will have no use for our debt.
I learned something very interesting about China yesterday. China has no capital gains tax. Does this make sense to anyone? Communist China has no capital gains tax and refuses to institute one for fear that it will hinder growth. Meanwhile, we talk of increasing ours. This is downright stupidity.
So much for a global recession. If they are able to grow that much while we flounder, our dollar will be in a lot of trouble as they will have no use for our debt.
I learned something very interesting about China yesterday. China has no capital gains tax. Does this make sense to anyone? Communist China has no capital gains tax and refuses to institute one for fear that it will hinder growth. Meanwhile, we talk of increasing ours. This is downright stupidity.[/quote]
China
Flat 10% of capital gains taxed with traded equities being exempt.
You do realize that nearly all capital gains come from ‘traded equities’, don’t you? That’s kind of a loose term that could be used to classify pretty much any asset.
Maybe that should say publicly traded equities, but I’m obviously not an expert on Chinese tax law. It certainly would mean that stocks and bonds are not subject to capital gains.