Quote:
Originally Posted by Major
Unfortunately, the capital gains tax rate doesn't apply to LLPs, where income passes through to the partners. I wish it did. To answer your question, I think it's appropriate. In my business, my capital is used to create income (and jobs). In exchange for this risk, a lower tax rate seems appropriate. Earning a profit isn't a given outcome. I could lose my capital. In exchange for the risk of investing capital, a lower tax rate seems reasonable.
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You are absolutely correct. Those who have not owned their own business cannot understand the financial responsibilities, pressure and stress with the ups and downs of particular industries and the economy. A lower tax rate is without a doubt reasonable to help keep you going and your employees working. Many many many times I had to reinvest and or borrow money corporately and personally to keep my people working during downturns and seasonal swings.
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