Nm
- Thread starter KNIGHTTIME^
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Just tax capital gains at the same rate as regular income. Problem solved.
Jesus Bethany. Did the room clear?
lmao. This is Why I visit the cooler. Once every 3 years. For the second time. And never again.
Morons in this thread: Biden is going to revert capital gains taxes back to their 2017 level. The horror!
Morons in the infrastructure thread: Biden is spending all of this money. How is he going to pay for it all?????
Morons in the infrastructure thread: Biden is spending all of this money. How is he going to pay for it all?????
Explain to me why I can keep a larger percentage of passive earnings than active income? And no, it isn't money that you've already been taxed on so let's put that one to bed right out of the gate.
Point being in all of this is that we need a simplified tax code. Tinkering around the edges has led to 30 trillion in debt and hundreds of trillions in derivative debt.
Another group of Republicans hoodwinked into believing this will hurt them. Bamboozled.
84% of stocks are owned by 10% of the population. Roughly 50% of people don't even own stock.
84% of stocks are owned by 10% of the population. Roughly 50% of people don't even own stock.
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How is risking capital for gains any different than a person opening a business for gains? Both involve risk so why should they be taxed so much differently? What about someone working on commission? That is a risk too. There are lots of different types of risks in the economy. And from what is being reported (the actual plan has not been released yet), the top rate doesnt start until $1 million a year in capital gains. This isnt something that is going to impact the vast majority of the country.
You had me until the last sentence. Should we really be ok with laws of any kind that only affect some people? I can't get on board with that
We already have that, it's no different than a progressive income tax system. But we have all kinds of laws, regulations, or incentives that only affect some people. But I should also rephrase that it only affects some people. It theoretically affects anyone, but obviously not everyone is going to make millions in capital gains a year.
I get that, and I probably could have phrased it a little bit better. I just really don't like the tenor of the statements that include things like "it'll only affect (x) people. That doesn't set well with me.
I feel terrible for the multi-millionaires who will have to pay taxes after spending year after year finding loopholes, hiding money in the Cayman Islands, lobbying politicians, and every other thing under the sun to escape contributing to a well-rounded society.
It appears that you don’t understand the concept of incentives.
Also, you’re funny if you think that the federal government produces a well-rounded society.
Bamboozled!
"Incentives" lol. How the hell did billionaires, already cheating on their taxes, manage to convince ordinary American people to give them even more "incentives" to lie, cheat, and steal, the wealth created by the working 99% of the population?
They aren't out to get us. They are already getting us. Just because you've been hoodwinked, doesn't mean the rest of us have to take it in the ass, too.
How dumb do you have to be to believe these guys are paying their taxes, remaining legal in their endeavors, and deserve more and more tax, property, and law, breaks?
Go read about Ugland House or the Panama Papers.
Bamboozled.
As I told the chocolate guy somewhere else... you're problem is thinking you're anywhere close to being near their wealth and influence.
I’ll give you another chance, since you’re poor and have no ambition. Hating on people with money. If you were in the elite group, in the ballpark, or had ambition to be, you would and should care. If you’re not, you won’t. There are hard working rich people and I’m sure a few on this board or in the Dungeon
Spell out the exact people that this applies to since you struck out with the billionaire comment
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Again, stop believing that I'm simply talking about ordinary Americans who worked their way up to a successful living. In most cases, even $1M a year is a pittance.
Do you hide millions in off-shore accounts to avoid taxes? Do you invest in market-manipulating hedge funds, who hide trillions in off-shore accounts to avoid more taxes? Do you use your wealth to influence politicians to pass laws and regulations that benefit you or your business over smaller businesses? Do you run a company with employees who are paid shitty wages and receive crummier benefits year after year, with stagnant wages for the last 40 years, while the business sits on mountains of cash? Do you take government bailout money, and Federal Reserve free money, to the tune of trillions while small businesses and individuals are still having trouble?
You're being hoodwinked. These guys have been taking and taking and taking while normal Americans, even those making $1M a year, are just trying to get by. And, when the shit hits the fan, they take some more and throw the blame on poor people.
That’s fine. Then target people ONLY making more than 100 million, etc.
and those specific situations.
However it’s not targeting only that population and this is just a precursor for more to come. By the way, there’s not a single tax bracket that doesn’t try to find loopholes around paying taxes
and those specific situations.
However it’s not targeting only that population and this is just a precursor for more to come. By the way, there’s not a single tax bracket that doesn’t try to find loopholes around paying taxes
Just raise interest rates to 6 or 7% on treasuries. Safe investment with a decent return. The rich can keep their money and not exploit the system.
There's no such thing as right wing economics. It's been reduced to "low taxes=economic growth".
Can we just get back to the Keynesian model already? Raise the frigging interest rates to 6 or 7% and let the currency market find equilibrium. Yeah, that means a 40-80% drop in the stock market and derivative weight would collapse the investment banks but at least it would be a move towards sound money. The debt and asset bubbles are going to be the end of the dollar if we don't act fast and take extreme measures.
IMO, that's the top end. Shillers has the stock market nearing 40% overvalued, and that doesn't even take into consideration inflation rates. I could easily see the DOW drop to 8 or 9k in real money.
Keynes on taxation.
econdiaries.wordpress.com
John Maynard Keynes on Taxation
The avoidance of taxes is the only intellectual pursuit that still carries any reward. Taxation is a device used to implement wrongful money extracting from the citizens of the United States. At th…
econdiaries.wordpress.com
He's going to 'balance out' the loss of domestic investment with a new 'tariff system' but it's not called a 'tariff.'
No, I'm not kidding. This is extreme politicking 'innovation' at its finest. As an engineer, it just insults my intelligence.
No, I'm not kidding. This is extreme politicking 'innovation' at its finest. As an engineer, it just insults my intelligence.
How does anybody not see that we are taking the exact same path as we did in the 1920s? Low interest easy money lending policies, a stock market that is way overvalued, a total lack of rational actors in the investment sector, and proposed tariffs. This is a mirror image of 1929.
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