Comments on: Venture Capitalist Defies Colleagues, Testifies Against Tax Break

By: clj

clj — Mon, 17 Sep 2007 14:44:43 +0000

I applaud Mr. Stanfillâ€™s testimony. Making money by risking other peoples money should not qualify you for extra tax breaks. So what if instead of having 7 homes you will have to settle for 6 plus a Mercedes in every drive way. Eventually the uber rich will cry that they made their money all by them selves with no help from the government so they shouldnâ€™t pay taxes at all. They conveniently forget that they use publicly funded roads, sewers, power, communication air waves, and the rest of our infrastructure while â€œmakingâ€ this money. The practice of moving around money is just an electronic version of the shell game eventually someone loses and you can bet you last dollar it will not be fund managers.

By: LHKMAN

LHKMAN — Mon, 17 Sep 2007 15:14:51 +0000

Yawn. It has ever been thus. Of course these “Masters of the Universe” should have their profits taxed as ordinary income — because that’s the business they conduct. But this issue is not about principle, it is about money. Stanfil is correct; real venture capitalists will continue to play the game because that’s what they do. I’m sick and tired of the argument that if you tax me I won’t play. Fine, don’t play. Someone else will.

By: urthpigg

urthpigg — Tue, 18 Sep 2007 01:34:06 +0000

Those of us who are not “Masters of the Universe” are supposed to believe that we don’t deserve their wealth or power. We are also supposed to believe that by increasing the wealth of the Masters, we will somehow benefit from their wise investments, which supposedly create jobs for us. This is what is known as the “trickle-down” effect. Some of us enjoy being trickled upon more than others.