The Instigator
xing216
Pro (for)
Losing
3 Points
The Contender
BangBang-Coconut
Con (against)
Winning
17 Points

Do you think making interest being tax free is better?

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Voting Style: Open Point System: 7 Point
Started: 9/10/2011 Category: Economics
Updated: 5 years ago Status: Voting Period
Viewed: 671 times Debate No: 18280
Debate Rounds (5)
Comments (6)
Votes (6)

 

xing216

Pro

I think this help the economy because if interest is tax free the stock market will be leveled instead of having it's "ups and downs". Also, if later in the future the stock market does go down then people will have more money to spend, therefore making the stock market better again.
BangBang-Coconut

Con

If we make interest tax free, then many people who rely on these interest payments to support their livelihood will lose their jobs and have to rely on the government to support them.

Banks will also be hurt, as this is ow they make their money; If we take this interest tax away then banks will go under and even more people will lose their jobs.

Finally, if we apply this to the stock market, it will crash,and we will see another great depression; Only worse as it would lead to not only a collapse of the American way of life, but of the infra structure of the entire world.

In conclusion; Making interest Tax free would be very bad thing.
Debate Round No. 1
xing216

Pro

I think this help the economy because if interest is tax free the stock market will be leveled instead of having it's "ups and downs". Also, if later in the future the stock market does go down then people will have more money to spend, therefore making the stock market better again.
BangBang-Coconut

Con

My opponent just copied and pasted the same thing he just said. I've already refuted these arguments, to wich my opponent has made no response.

Vote Con!
Debate Round No. 2
xing216

Pro

But, if interest is tax free people will save more money, so if the economy doe go corrupt people will have enough money to pay the debt.
BangBang-Coconut

Con

That's not really true, as where we to switch to the system you're advocating; then it would in fact cause the current system to go under.
Furthermore eve if these people where able to save a little bit of money on the side, they would either spend it as soon as they got it and still be screwed once the stock market goes under; or they would save it all up (very unlikely) and still be screw over when the stock market crashes as their money would be worthless.

Paying taxes legitimately sucks, believe me; but it's a necessary evil in order to maintain a society.
Debate Round No. 3
xing216

Pro

xing216 forfeited this round.
BangBang-Coconut

Con

Extend my previous arguments please :-C
Debate Round No. 4
xing216

Pro

xing216 forfeited this round.
BangBang-Coconut

Con

BangBang-Coconut forfeited this round.
Debate Round No. 5
6 comments have been posted on this debate. Showing 1 through 6 records.
Posted by xing216 5 years ago
xing216
ok now i can see ur posts
Posted by BangBang-Coconut 5 years ago
BangBang-Coconut
Opps >->. I didn't read the comments before I posted my Arguments.
Posted by xing216 5 years ago
xing216
i cant see ur arguement post for some reason maybe my computer is glitchy
Posted by xing216 5 years ago
xing216
ugh my pc glitched so it posted same thing sorry!
Posted by BangBang-Coconut 5 years ago
BangBang-Coconut
Round 1 posted :O
Posted by xing216 5 years ago
xing216
We shall -->START<--
6 votes have been placed for this debate. Showing 1 through 6 records.
Vote Placed by Wylted 2 years ago
Wylted
xing216BangBang-CoconutTied
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Total points awarded:04 
Reasons for voting decision: Ff
Vote Placed by Zarroette 2 years ago
Zarroette
xing216BangBang-CoconutTied
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Total points awarded:04 
Reasons for voting decision: ff
Vote Placed by logicrules 5 years ago
logicrules
xing216BangBang-CoconutTied
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Total points awarded:30 
Reasons for voting decision: Con made unsupported generalizations, while pro asserted an accepted economic principle.
Vote Placed by F-16_Fighting_Falcon 5 years ago
F-16_Fighting_Falcon
xing216BangBang-CoconutTied
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Total points awarded:03 
Reasons for voting decision: Yes, Forfeit, Obvious and Horrible.
Vote Placed by PartamRuhem 5 years ago
PartamRuhem
xing216BangBang-CoconutTied
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Total points awarded:03 
Reasons for voting decision: Horrible debate by Pro. Yuck
Vote Placed by BlackVoid 5 years ago
BlackVoid
xing216BangBang-CoconutTied
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Total points awarded:03 
Reasons for voting decision: Obvious victory is obvious.