Big Tax Increase coming soon.....we told ya so.

[Burgermeister]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

Leeching is when you pay little or nothing and expect other people to pay your share and more...... also known as a Democrat.

Why Does Billionaire Warren Buffett Pay a Lower Tax Rate Than His Secretary? | The Motley Fool

I’ve read that article many times. All the more reason why his secretary should keep more of her paycheck. Watch and see what happens.

a

The argument is that income should all be taxed as income. Earlier it was noted that everyone should be taxed the same. O.K.

The only income that's taxed differently are long term investments, that are realized. The reason for that, is that money was first taxed, and we want to encourage people to invest for their future....and that is taxed at the same rate for all levels

The money is NOT taxed. The 'profit" has NEVER been taxed. This is one of the most accepted lies of the gullible.

Even then it's hardly always true. Guy borrows $500,000, invests it and makes $700,000. None of that had been taxed. He pays a lower rate on that $200,000 than the poor guy busting his butt making $60,000.

That needs to end.

Why? I mean, obviously you don't pay taxes on a loan, since it's not income and you have to pay it back with interest....but the return, it depends if it's sort term, it's tax just like the $60K, if it's long term like a home, it's not...but we want to encourage people buying homes...and that rate is the same for anyone, the guy making $60K, or $400K

You understand that we are not talking about houses so dismissed.

The profit off any investment, it depends what the investment is, short term is taxed just like ordinary income, and yes the money used to make that investment has already been taxed.

It's long term investments that have a lower cap gains tax, but that rate is the same for all....the biggest lie is dems that suggest it's different for different incomes

It's lower than the guy making $60k busting his butt.

No I don't....houses are a type of long term investment too

Sure, but how do you know the person making $50K, busting his butt, didn't make a long term investment too..the point is that sort of tax rate, on long term investments is open to everyone, it's not based on income levels, but on the length of your investment. What you want to do is discourage the guy busting his butt at $50 or 60K from making a long term investment, and you are using class politics to try to justify it.

You are arguing something I do not care about. Income needs to be taxed as income. Period.

Of course I am discussing what you are talking about....and I disagree.....

Long term cap gains are taxed at a lower rate to encourage, long term investments.

Moreover, depending on the investment, it certainly can be double taxed...stocks for example ...the profit, is taxes at the corp level first, before it's distributed as stock.

I certainly have no problem with short term cap gains being taxed as ordinary income, which it is

Nothing is double taxed.

Practically every tax that isn't on your direct income is double taxed or more, unless you found a way to buy all your stuff with pretax money.

It's not. If you profit $200,000, none of that was ever taxed.

Tell me how you profited and we'll see.

 

[two_iron]

The people that work for a living need to separate from the filthy fucking parasites that vote for a living. Let's make this irreconcilable division permanent.

 

[pknopp]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

Leeching is when you pay little or nothing and expect other people to pay your share and more...... also known as a Democrat.

Why Does Billionaire Warren Buffett Pay a Lower Tax Rate Than His Secretary? | The Motley Fool

I’ve read that article many times. All the more reason why his secretary should keep more of her paycheck. Watch and see what happens.

a

The argument is that income should all be taxed as income. Earlier it was noted that everyone should be taxed the same. O.K.

The only income that's taxed differently are long term investments, that are realized. The reason for that, is that money was first taxed, and we want to encourage people to invest for their future....and that is taxed at the same rate for all levels

The money is NOT taxed. The 'profit" has NEVER been taxed. This is one of the most accepted lies of the gullible.

Even then it's hardly always true. Guy borrows $500,000, invests it and makes $700,000. None of that had been taxed. He pays a lower rate on that $200,000 than the poor guy busting his butt making $60,000.

That needs to end.

Why? I mean, obviously you don't pay taxes on a loan, since it's not income and you have to pay it back with interest....but the return, it depends if it's sort term, it's tax just like the $60K, if it's long term like a home, it's not...but we want to encourage people buying homes...and that rate is the same for anyone, the guy making $60K, or $400K

You understand that we are not talking about houses so dismissed.

The profit off any investment, it depends what the investment is, short term is taxed just like ordinary income, and yes the money used to make that investment has already been taxed.

It's long term investments that have a lower cap gains tax, but that rate is the same for all....the biggest lie is dems that suggest it's different for different incomes

It's lower than the guy making $60k busting his butt.

No I don't....houses are a type of long term investment too

Sure, but how do you know the person making $50K, busting his butt, didn't make a long term investment too..the point is that sort of tax rate, on long term investments is open to everyone, it's not based on income levels, but on the length of your investment. What you want to do is discourage the guy busting his butt at $50 or 60K from making a long term investment, and you are using class politics to try to justify it.

You are arguing something I do not care about. Income needs to be taxed as income. Period.

Of course I am discussing what you are talking about....and I disagree.....

Long term cap gains are taxed at a lower rate to encourage, long term investments.

Moreover, depending on the investment, it certainly can be double taxed...stocks for example ...the profit, is taxes at the corp level first, before it's distributed as stock.

I certainly have no problem with short term cap gains being taxed as ordinary income, which it is

Nothing is double taxed.

Practically every tax that isn't on your direct income is double taxed or more, unless you found a way to buy all your stuff with pretax money.

It's not. If you profit $200,000, none of that was ever taxed.

Tell me how you profited and we'll see.

I already explained earlier. Read the thread.

 

[jknowgood]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

 

[Blues Man]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

Leeching is when you pay little or nothing and expect other people to pay your share and more...... also known as a Democrat.

Why Does Billionaire Warren Buffett Pay a Lower Tax Rate Than His Secretary? | The Motley Fool

I’ve read that article many times. All the more reason why his secretary should keep more of her paycheck. Watch and see what happens.

a

The argument is that income should all be taxed as income. Earlier it was noted that everyone should be taxed the same. O.K.

The only income that's taxed differently are long term investments, that are realized. The reason for that, is that money was first taxed, and we want to encourage people to invest for their future....and that is taxed at the same rate for all levels

The money is NOT taxed. The 'profit" has NEVER been taxed. This is one of the most accepted lies of the gullible.

Even then it's hardly always true. Guy borrows $500,000, invests it and makes $700,000. None of that had been taxed. He pays a lower rate on that $200,000 than the poor guy busting his butt making $60,000.

That needs to end.

you don't know much about how borrowed money is taxed do you?

If you borrow 500K you have to pay it back. BUT the loan principal you pay back is not a tax deduction the interest is the only thing that gets treated as a write off. So the 500K you use to pay back the principal comes from the after tax profit of the business.

Which has nothing to do with what I said.

The 500K isn't taxed because it's not income it's money you pay to borrow.

And the 700K will be taxed as soon as he sells the assets.

So the profit will be taxed. So you're wrong that none of the money is taxed.

 

[pknopp]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

View attachment 468290

Liar.

Federal Tax: $31k Salary Example | US Tax Calculator 2021.

 

[pknopp]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

Leeching is when you pay little or nothing and expect other people to pay your share and more...... also known as a Democrat.

Why Does Billionaire Warren Buffett Pay a Lower Tax Rate Than His Secretary? | The Motley Fool

I’ve read that article many times. All the more reason why his secretary should keep more of her paycheck. Watch and see what happens.

a

The argument is that income should all be taxed as income. Earlier it was noted that everyone should be taxed the same. O.K.

The only income that's taxed differently are long term investments, that are realized. The reason for that, is that money was first taxed, and we want to encourage people to invest for their future....and that is taxed at the same rate for all levels

The money is NOT taxed. The 'profit" has NEVER been taxed. This is one of the most accepted lies of the gullible.

Even then it's hardly always true. Guy borrows $500,000, invests it and makes $700,000. None of that had been taxed. He pays a lower rate on that $200,000 than the poor guy busting his butt making $60,000.

That needs to end.

you don't know much about how borrowed money is taxed do you?

If you borrow 500K you have to pay it back. BUT the loan principal you pay back is not a tax deduction the interest is the only thing that gets treated as a write off. So the 500K you use to pay back the principal comes from the after tax profit of the business.

Which has nothing to do with what I said.

The 500K isn't taxed because it's not income it's money you pay to borrow.

And the 700K will be taxed as soon as he sells the assets.

So the profit will be taxed. So you're wrong that none of the money is taxed.

I didn't argue that. I argued ONLY the $200,000 is taxed.

 

[Blues Man]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

Leeching is when you pay little or nothing and expect other people to pay your share and more...... also known as a Democrat.

Why Does Billionaire Warren Buffett Pay a Lower Tax Rate Than His Secretary? | The Motley Fool

I’ve read that article many times. All the more reason why his secretary should keep more of her paycheck. Watch and see what happens.

a

The argument is that income should all be taxed as income. Earlier it was noted that everyone should be taxed the same. O.K.

The only income that's taxed differently are long term investments, that are realized. The reason for that, is that money was first taxed, and we want to encourage people to invest for their future....and that is taxed at the same rate for all levels

The money is NOT taxed. The 'profit" has NEVER been taxed. This is one of the most accepted lies of the gullible.

Even then it's hardly always true. Guy borrows $500,000, invests it and makes $700,000. None of that had been taxed. He pays a lower rate on that $200,000 than the poor guy busting his butt making $60,000.

That needs to end.

you don't know much about how borrowed money is taxed do you?

If you borrow 500K you have to pay it back. BUT the loan principal you pay back is not a tax deduction the interest is the only thing that gets treated as a write off. So the 500K you use to pay back the principal comes from the after tax profit of the business.

Which has nothing to do with what I said.

The 500K isn't taxed because it's not income it's money you pay to borrow.

And the 700K will be taxed as soon as he sells the assets.

So the profit will be taxed. So you're wrong that none of the money is taxed.

I didn't argue that. I argued ONLY the $200,000 is taxed.

it is taxed as soon as he sells his assets and realizes the gains

 

[iamwhatiseem]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

You realize that to "pay for things"... the IRS would have to collect 100% of every paycheck earned in America for over a year to pay what the government is spending.
No - I didn't think you did

 

[Burgermeister]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

Leeching is when you pay little or nothing and expect other people to pay your share and more...... also known as a Democrat.

Why Does Billionaire Warren Buffett Pay a Lower Tax Rate Than His Secretary? | The Motley Fool

I’ve read that article many times. All the more reason why his secretary should keep more of her paycheck. Watch and see what happens.

a

The argument is that income should all be taxed as income. Earlier it was noted that everyone should be taxed the same. O.K.

The only income that's taxed differently are long term investments, that are realized. The reason for that, is that money was first taxed, and we want to encourage people to invest for their future....and that is taxed at the same rate for all levels

The money is NOT taxed. The 'profit" has NEVER been taxed. This is one of the most accepted lies of the gullible.

Even then it's hardly always true. Guy borrows $500,000, invests it and makes $700,000. None of that had been taxed. He pays a lower rate on that $200,000 than the poor guy busting his butt making $60,000.

That needs to end.

Why? I mean, obviously you don't pay taxes on a loan, since it's not income and you have to pay it back with interest....but the return, it depends if it's sort term, it's tax just like the $60K, if it's long term like a home, it's not...but we want to encourage people buying homes...and that rate is the same for anyone, the guy making $60K, or $400K

You understand that we are not talking about houses so dismissed.

The profit off any investment, it depends what the investment is, short term is taxed just like ordinary income, and yes the money used to make that investment has already been taxed.

It's long term investments that have a lower cap gains tax, but that rate is the same for all....the biggest lie is dems that suggest it's different for different incomes

It's lower than the guy making $60k busting his butt.

No I don't....houses are a type of long term investment too

Sure, but how do you know the person making $50K, busting his butt, didn't make a long term investment too..the point is that sort of tax rate, on long term investments is open to everyone, it's not based on income levels, but on the length of your investment. What you want to do is discourage the guy busting his butt at $50 or 60K from making a long term investment, and you are using class politics to try to justify it.

You are arguing something I do not care about. Income needs to be taxed as income. Period.

Of course I am discussing what you are talking about....and I disagree.....

Long term cap gains are taxed at a lower rate to encourage, long term investments.

Moreover, depending on the investment, it certainly can be double taxed...stocks for example ...the profit, is taxes at the corp level first, before it's distributed as stock.

I certainly have no problem with short term cap gains being taxed as ordinary income, which it is

Nothing is double taxed.

Practically every tax that isn't on your direct income is double taxed or more, unless you found a way to buy all your stuff with pretax money.

It's not. If you profit $200,000, none of that was ever taxed.

Tell me how you profited and we'll see.

I already explained earlier. Read the thread.

Ah, I was responding to your general comment that nothing is double taxed without reading the thread. So if you are just talking about that one scenario, then I guess it's true, and I applaud anyone who can pull that off consistently.

 

[pknopp]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

Leeching is when you pay little or nothing and expect other people to pay your share and more...... also known as a Democrat.

Why Does Billionaire Warren Buffett Pay a Lower Tax Rate Than His Secretary? | The Motley Fool

I’ve read that article many times. All the more reason why his secretary should keep more of her paycheck. Watch and see what happens.

a

The argument is that income should all be taxed as income. Earlier it was noted that everyone should be taxed the same. O.K.

The only income that's taxed differently are long term investments, that are realized. The reason for that, is that money was first taxed, and we want to encourage people to invest for their future....and that is taxed at the same rate for all levels

The money is NOT taxed. The 'profit" has NEVER been taxed. This is one of the most accepted lies of the gullible.

Even then it's hardly always true. Guy borrows $500,000, invests it and makes $700,000. None of that had been taxed. He pays a lower rate on that $200,000 than the poor guy busting his butt making $60,000.

That needs to end.

you don't know much about how borrowed money is taxed do you?

If you borrow 500K you have to pay it back. BUT the loan principal you pay back is not a tax deduction the interest is the only thing that gets treated as a write off. So the 500K you use to pay back the principal comes from the after tax profit of the business.

Which has nothing to do with what I said.

The 500K isn't taxed because it's not income it's money you pay to borrow.

And the 700K will be taxed as soon as he sells the assets.

So the profit will be taxed. So you're wrong that none of the money is taxed.

I didn't argue that. I argued ONLY the $200,000 is taxed.

it is taxed as soon as he sells his assets and realizes the gains

So? The $200,000 is taxed, not the $700,000 which means nothing was taxed twice.

 

[iamwhatiseem]

All those idiots who thought everything was free....now gonna see somebody always gotta pay for the free stuff.

Awesome, make the rich pay their fair share.

I love how you marshmallow people love to say "fair share" - without ever saying what that even is.

 

[pknopp]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

You realize that to "pay for things"... the IRS would have to collect 100% of every paycheck earned in America for over a year to pay what the government is spending.
No - I didn't think you did

Whatever. You want to put on future generations your irresponsible spending?

 

[jknowgood]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

View attachment 468290

Liar.

Federal Tax: $31k Salary Example | US Tax Calculator 2021.

If you break down the total amount of taxes you pay. You pay about 50%. Government needs to quit spending, about 10% of the 1.9 trillion goes to covid relief. Get your head out of your ass.

 

[iamwhatiseem]

All those idiots who thought everything was free....now gonna see somebody always gotta pay for the free stuff.

Biden Plans First Major Federal Tax Hike Since 1993

President Joe Biden is planning the first major federal tax hike since 1993 to help pay for the long-term economic program designed as a follow-up to his pandemic-relief bill, according to people familiar with the matter.Unlike the $1.9 trillion COVID-19 stimulus act, the...

www.newsmax.com

The working class have been paying for the tax give aways to the rich for 40 years. Currently to the tune of $20 Trillion.

The same people who have been paying for the freebies in subsidies to fossil fuel, petro chemical, pharmaceutical, defense contractor, and insurance companies.

The same people that have been paying to bail out the banks, air lines, and Donald Trumps bankruptcies.

You're right. You're getting to see what' it's like to have to give up on those freebies.

That money belongs to the people. The people that actually work for a living in this country, which is the only reason those worthless fucks exist, and we want our money back.

And we're going to get it.

bullshit--the rich pay MORE than their fair share

So why are they the only ones to get much richer with each tax cut?

Because they pay most of the taxes.
How the fuck is a person who pays ZERO taxes suppose to pay less taxes???

 

[iamwhatiseem]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

You realize that to "pay for things"... the IRS would have to collect 100% of every paycheck earned in America for over a year to pay what the government is spending.
No - I didn't think you did

Whatever. You want to put on future generations your irresponsible spending?

Whatever = I don't have an answer for what you say

 

[pknopp]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

View attachment 468290

Liar.

Federal Tax: $31k Salary Example | US Tax Calculator 2021.

If you break down the total amount of taxes you pay. You pay about 50%. Government needs to quit spending, about 10% of the 1.9 trillion goes to covid relief. Get your head out of your ass.

Which doesn't mean your meme isn't total BS. Quite basing your beliefs on stupid, ignorant internet meme's.

 

[pknopp]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

You realize that to "pay for things"... the IRS would have to collect 100% of every paycheck earned in America for over a year to pay what the government is spending.
No - I didn't think you did

Whatever. You want to put on future generations your irresponsible spending?

Whatever = I don't have an answer for what you say

I did answer. Why shouldn't you be responsible for your irresponsible spending as opposed to future generations?

 

[Blues Man]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

Leeching is when you pay little or nothing and expect other people to pay your share and more...... also known as a Democrat.

Why Does Billionaire Warren Buffett Pay a Lower Tax Rate Than His Secretary? | The Motley Fool

I’ve read that article many times. All the more reason why his secretary should keep more of her paycheck. Watch and see what happens.

a

The argument is that income should all be taxed as income. Earlier it was noted that everyone should be taxed the same. O.K.

The only income that's taxed differently are long term investments, that are realized. The reason for that, is that money was first taxed, and we want to encourage people to invest for their future....and that is taxed at the same rate for all levels

The money is NOT taxed. The 'profit" has NEVER been taxed. This is one of the most accepted lies of the gullible.

Even then it's hardly always true. Guy borrows $500,000, invests it and makes $700,000. None of that had been taxed. He pays a lower rate on that $200,000 than the poor guy busting his butt making $60,000.

That needs to end.

you don't know much about how borrowed money is taxed do you?

If you borrow 500K you have to pay it back. BUT the loan principal you pay back is not a tax deduction the interest is the only thing that gets treated as a write off. So the 500K you use to pay back the principal comes from the after tax profit of the business.

Which has nothing to do with what I said.

The 500K isn't taxed because it's not income it's money you pay to borrow.

And the 700K will be taxed as soon as he sells the assets.

So the profit will be taxed. So you're wrong that none of the money is taxed.

I didn't argue that. I argued ONLY the $200,000 is taxed.

it is taxed as soon as he sells his assets and realizes the gains

So? The $200,000 is taxed, not the $700,000 which means nothing was taxed twice.

OK a little clarification is needed here.

Did he make 700K or 200K

The initial 500K isn't part of what he made it was the purchase price of the stock.

So if he made 700K then his stock has to be worth 1.2 million. The 500K isn't taxed because it is not income but a loan and has to be paid back to the bank with interest. ((banks don't usually make loans for stock market speculation but we'll ignore that for now)

So if you want the 500K loan principal to be taxed then all loan principals for all loans have to be taxed. Do you really want to pay tax on your mortgage principal?

 

[pknopp]

Great. It's about time we starting paying for things. You all that think everything should be free are going to have to stop your leeching.

Leeching is when you pay little or nothing and expect other people to pay your share and more...... also known as a Democrat.

Why Does Billionaire Warren Buffett Pay a Lower Tax Rate Than His Secretary? | The Motley Fool

I’ve read that article many times. All the more reason why his secretary should keep more of her paycheck. Watch and see what happens.

a

The argument is that income should all be taxed as income. Earlier it was noted that everyone should be taxed the same. O.K.

The only income that's taxed differently are long term investments, that are realized. The reason for that, is that money was first taxed, and we want to encourage people to invest for their future....and that is taxed at the same rate for all levels

The money is NOT taxed. The 'profit" has NEVER been taxed. This is one of the most accepted lies of the gullible.

Even then it's hardly always true. Guy borrows $500,000, invests it and makes $700,000. None of that had been taxed. He pays a lower rate on that $200,000 than the poor guy busting his butt making $60,000.

That needs to end.

you don't know much about how borrowed money is taxed do you?

If you borrow 500K you have to pay it back. BUT the loan principal you pay back is not a tax deduction the interest is the only thing that gets treated as a write off. So the 500K you use to pay back the principal comes from the after tax profit of the business.

Which has nothing to do with what I said.

The 500K isn't taxed because it's not income it's money you pay to borrow.

And the 700K will be taxed as soon as he sells the assets.

So the profit will be taxed. So you're wrong that none of the money is taxed.

I didn't argue that. I argued ONLY the $200,000 is taxed.

it is taxed as soon as he sells his assets and realizes the gains

So? The $200,000 is taxed, not the $700,000 which means nothing was taxed twice.

OK a little clarification is needed here.

Did he make 700K or 200K

The initial 500K isn't part of what he made it was the purchase price of the stock.

So if he made 700K then his stock has to be worth 1.2 million. The 500K isn't taxed because it is not income but a loan and has to be paid back to the bank with interest. ((banks don't usually make loans for stock market speculation but we'll ignore that for now)

So if you want the 500K loan principal to be taxed then all loan principals for all loans have to be taxed. Do you really want to pay tax on your mortgage principal?

I clearly stated the scenario early on.