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

[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?

I clearly stated the scenario early on.

Then where did you get the 200K figure?

If he made 700K then 700K will be subject to capital gains taxes

 

[TNHarley]

Raising taxes on the rich is just theater until they address loop holes. They need to overhaul the whole outfit.
3 million word tax code is blasphemy.

 

[LeftofLeft]

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

Democrats keep demonizing the rich and greedy billionaires because it is a smokescreen that middle class on earners must necessarily see their taxes increase.

 

[JackOfNoTrades]

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

View attachment 468069 View attachment 468070

SEW-WEET! Tax and spend! I love it when a well laid boondoggle comes to fruition!

Now just watch as all the money and projects all go to blue states with blue causes!

WE NEED CASINOS AND HOTELS FOR ALL THE ILLEGALS! RAH! RAH! RAH!

LOL. You are sooo cute, Freaky. LOL.
Republicans and "conservatives" for YEARS cutting taxes for their wealthy donors and the corporations who put lotsa money into their coffers. All while still spending like a drunken
sailor. At least I know a Democrat is going to tax me, THEN spend the money. Not give their buddies a tax break and STILL spend the money.

How the past five presidents affected the deficit

This article was updated Aug. 2 to include a graph with the annual federal deficit in constant dollars. A viral post por

www.politifact.com

 

[Mac-7]

All they have to do to show how fiscally responsible they are is commit to spending cuts FIRST, BEFORE cutting taxes.

your side will write the budget

Dems should cut spending equal to the tax increases they enact

but since your sides gosl is a socialist society with bigger government that wont happen, will it?

 

[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.

Then where did you get the 200K figure?

If he made 700K then 700K will be subject to capital gains taxes

Read what I wrote. I explained.

 

[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

Democrats keep demonizing the rich and greedy billionaires because it is a smokescreen that middle class on earners must necessarily see their taxes increase.

Which doesn't make the meme any less false.

 

[toobfreak]

At least I know a Democrat is going to tax me, THEN spend the money.

You don't even know THAT MUCH shithead. Your Feckless Fucker in the White House just spent 2000 BILLION Dollars he had to borrow with interest. Interest going to China. $6000 for every man woman and child to give you just $1400 back. Only a dipshit imbecile like you could think that a victory.

 

[Mac-7]

You are getting this because you refused to hold Trump to what you pretend you want.

biden voters are the beggars demanding more government handouts

 

[pknopp]

You are getting this because you refused to hold Trump to what you pretend you want.

biden voters are the beggars demanding more government handouts

LOL......this is why the issue will never get addressed.

The GOP had the White House, Senate and House and the debt went up.

 

[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.

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

The fact is the government spends way to much money. We pay too much in taxes.

 

[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.

The fact is the government spends way to much money. We pay too much in taxes.

And? No one is really wanting to address that. We really seem to think some magic fairy will come along and simply make it dissapear.

 

[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

Democrats keep demonizing the rich and greedy billionaires because it is a smokescreen that middle class on earners must necessarily see their taxes increase.

Which doesn't make the meme any less false.

That meme is about right $600 a week with about $150 in taxes. Yes thats it.

 

[Obejoekenobe]

that's irrelevant

it’s highly relevant when you’re talking long term investment.

Here you’re arguing capital gains shouldn’t be taxed because that would harm long term investment and that’s nonsense given 402ks are long term investments.

Yes they are taxed differently but they ACT as a long term investment. As long as you have 401ks acting as long term investments in the market then there’s no reason not to tax capital gains

 

[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

Democrats keep demonizing the rich and greedy billionaires because it is a smokescreen that middle class on earners must necessarily see their taxes increase.

Which doesn't make the meme any less false.

That meme is about right $600 a week with about $150 in taxes. Yes thats it.

I posted the actual tax. Let it go. You posted a stupid meme without verifying anything.

 

[Flash]

President Dufus Democrat handlers wake up every morning with more stupid ideas on how to fuck up this country.

A tax increase that is all we need now to really screw the recovering economy after the economic disaster caused my China Joe's Wuhan virus buddies.

Did not they not learn anything when that dipshit Obama raised taxes and we had increased poverty, decreased family income, soaring debt with nothing to show for it and dismal economic growth? Or when Trump lowered taxes and we had a booming economicy until China Joe's buddies fucked it up with the pandemic?

Democrats are as ignorant of Economics as they are of History, Climate Science, Biology, Ethics or the Constitution.

 

[Obejoekenobe]

President Dufus Democrat handlers wake up every morning with more stupid ideas on how to fuck up this country.

A tax increase that is all we need now to really screw the recovering economy after the economic disaster caused my China Joe's Wuhan virus buddies.

Did not they not learn anything when that dipshit Obama raised taxes and we had increased poverty, decreased family income, soaring debt with nothing to show for it and dismal economic growth? Or when Trump lowered taxes and we had a booming economicy until China Joe's buddies fucked it up with the pandemic?

Democrats are as ignorant of Economics as they are of History, Climate Science, Biology, Ethics or the Constitution.

Jesus.

You’re stupid no matter what forum you’re in Flash.

 

[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?

I clearly stated the scenario early on.

Then where did you get the 200K figure?

If he made 700K then 700K will be subject to capital gains taxes

Read what I wrote. I explained.

I did you said he borrowed 500K and made 700K

I want to know if he actually made 700K or did he only make 200K?

It's his net that matters

 

[Blues Man]

that's irrelevant

it’s highly relevant when you’re talking long term investment.

Here you’re arguing capital gains shouldn’t be taxed because that would harm long term investment and that’s nonsense given 402ks are long term investments.

Yes they are taxed differently but they ACT as a long term investment. As long as you have 401ks acting as long term investments in the market then there’s no reason not to tax capital gains

I never said capital gains shouldn't be taxed so i don't know where you got that idea.

in fact no one is saying that. What they are saying is that they shouldn't be taxed as regular income.

 

[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.

Then where did you get the 200K figure?

If he made 700K then 700K will be subject to capital gains taxes

Read what I wrote. I explained.

I did you said he borrowed 500K and made 700K

I want to know if he actually made 700K or did he only make 200K?

It's his net that matters

I explained. In either case it matters none. Nothing there is double taxed no matter what he made. He only pays taxes on the money made, not the 500K.