Investing 102

[GregWeld]

Originally Posted by XLexusTech

Forgetting the political.. the pending legislation/climate (next 4 years) will it effect those who make 199K and less from a PURE tax impact?

What I have read thus far is the people who are effected are those who benefit from handouts and those who make over 200K... is that wrong?

Those that are lower earners - are probably not big investors... their incomes may be dependent on OTHERS making investments and building stuff etc. So rightly or wrongly - they're affected by what others are going to do.

If you're a real estate sales person - you depend on TRANSACTIONS for your income... no transactions - no income. Ditto the home inspector - the loan officer... None of whom probably make $250K per year. This is just ONE example but you can multiply this for almost every industry where the "average guy" works. If we don't build buildings - we don't need workers/welders/steel/glass/excavators/ and on and on.

Let's go back to when they put a 10% LUXORY tax on Boats over a certain $$ value... and Furs... and Cars over a certain $$ value. What happened? 60,000 (actual fact - look it up) people BUILDING boats lost their jobs because the rich guys buying those boats just didn't buy them... and high end car sales plummeted. They changed that tax but by then it was too late for all the "little people" that lost their job.

People have CHOICES.... the more income and more wealth someone has - the more choices they have. They choose where and how to invest and when you think about it - in reality - if ONE rich guy buys a 100' yacht - there were maybe 100 people working to build it.... so when that guy decides to NOT buy that... then you have fall out.

Obama doesn't understand ANY of that - because he's never had a real job or run a business...