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

[struth]

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.

The hypo you put further before, the investor that took the $500K loan, invested it, and made $200K, would pay cap gains on the $200K, then still owe the lender $500K....not a great situation to be in

 

[pknopp]

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.

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

And they should be. The guy busting his butt digging ditches shouldn't have to pay a higher rate than some guy sitting at home at his computer.

 

[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

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.

I never said anything was double taxed

My point was more that the 500K loan was not income and therefore not 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.

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.

The hypo you put further before, the investor that took the $500K loan, invested it, and made $200K, would pay cap gains on the $200K, then still owe the lender $500K....not a great situation to be in

At near zero interest rates that's a pretty darn good place to be.

 

[struth]

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.

Yeah, because the $500K was a loan, he still owes that money back, and is in debt....this was a horrible move.....he's paying tax on the $200K, and still in a huge hole. Sounds like something stupid a dem would do, then ask for a bailout

 

[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.

I never said anything was double taxed

My point was more that the 500K loan was not income and therefore not taxed.

Being double taxed it what the discussion was about. You came in late and got yourself off topic because you didn't 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.

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.

Lol, about $150 is about right.

 

[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.

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

And they should be. The guy busting his butt digging ditches shouldn't have to pay a higher rate than some guy sitting at home at his computer.

I disagree.

The guy digging ditches has an defective income tax rate that is lower than the capital gains rate

 

[struth]

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.

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

And they should be. The guy busting his butt digging ditches shouldn't have to pay a higher rate than some guy sitting at home at his computer.

He isn't.....they both pay the same long term cap gains rate, and if you are talking about a day trader, doing short term investments, those rates are tax the same as ordinary income

 

[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

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.

I never said anything was double taxed

My point was more that the 500K loan was not income and therefore not taxed.

Being double taxed it what the discussion was about. You came in late and got yourself off topic because you didn't read the thread.

whatever

 

[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.

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

And they should be. The guy busting his butt digging ditches shouldn't have to pay a higher rate than some guy sitting at home at his computer.

He isn't.....they both pay the same long term cap gains rate, and if you are talking about a day trader, doing short term investments, those rates are tax the same as ordinary income

no those are taxed as short term capital gains 20%

 

[struth]

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.

I never said anything was double taxed

My point was more that the 500K loan was not income and therefore not taxed.

Being double taxed it what the discussion was about. You came in late and got yourself off topic because you didn't read the thread.

That money is double taxed on stocks...it's tax at the corp rate, then again when it's paid as a dividend

 

[pknopp]

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.

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

And they should be. The guy busting his butt digging ditches shouldn't have to pay a higher rate than some guy sitting at home at his computer.

I disagree.

The guy diffing ditches has an defective income tax rate that is lower than the capital gains rate

Not if they make the same amount of money. We were initially discussing everyone paying the same rate. I agreed but I made sure to point out that it needed to apply to everyone.

Seems many who believe it should be the same for everyone doesn't really believe that.

 

[struth]

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.

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

And they should be. The guy busting his butt digging ditches shouldn't have to pay a higher rate than some guy sitting at home at his computer.

He isn't.....they both pay the same long term cap gains rate, and if you are talking about a day trader, doing short term investments, those rates are tax the same as ordinary income

no those are taxed as short term capital gains 20%

Long-Term vs. Short-Term Capital Gains

Understanding the difference between long- and short-term capital gains ensures that the benefits of your investment portfolio outweigh the tax costs.

www.investopedia.com

"

Long-term capital gains are derived from assets that are held for more than one year before they are disposed of. Long-term capital gains are taxed according to graduated thresholds for taxable income at 0%, 15%, or 20%. The tax rate on most taxpayers who report long-term capital gains is 15% or lower.2





Short-term capital gains are taxed just like your ordinary income. That's up to 37% depending on your tax bracket.

 

[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.

I never said anything was double taxed

My point was more that the 500K loan was not income and therefore not taxed.

Being double taxed it what the discussion was about. You came in late and got yourself off topic because you didn't read the thread.

That money is double taxed on stocks...it's tax at the corp rate, then again when it's paid as a dividend

Those are two different things. A persons income is taxed the same way. The corp pays a tax and then the employee pays a tax.

 

[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

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.

I never said anything was double taxed

My point was more that the 500K loan was not income and therefore not taxed.

Being double taxed it what the discussion was about. You came in late and got yourself off topic because you didn't read the thread.

That money is double taxed on stocks...it's tax at the corp rate, then again when it's paid as a dividend

The double tax thing is an example used for C corp income And it really only involves the owners of the corp.

The corp will pay taxes on it's income then the person receiving dividends will get taxed on those dividends. But the year that dividends are paid they are a write off for the corporation.

That is why the S corp is used to structure most small not publicly traded businesses

 

[Mac-7]

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

Trimp was not a fiscal conservative at heart

and congress loves to spend money

so the consequences of overspending are shared all around

when you are personally harmed by government bankruptcy maybe it wont hurt so bad knowing that it wasnt only your side that failed you

 

[BULLDOG]

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???

They should pay most of the taxes. They get the vast majority of the benefits of our taxes.

 

[pknopp]

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

Trimp was not a fiscal conservative at heart

and congress loves to spend money

so the consequences of overspending are shared all around

when you are personally harmed by government bankruptcy maybe it wont hurt so bad knowing that it wasnt only your side that failed you

My side? I'm the only one arguing for cuts and tax increases to cover the debt.

I'm the only one on "my side".

 

[Rye Catcher]

We still need a balanced budget amendment and term limits for Congresscritters amendment.

It's the only way to be sure!

Wrong! Consider the consequences when natural disasters (pandemics, hurricanes, tornadoes, forest fires, earthquakes,etc.) or disasters created by the failure to fix bridges, tunnels, dams, the electric power fail. Once upon a time - before trump - I believed POTUS should have the power of the line-item veto. Hopefully we will never again make a mistake to elect another vindictive and self serving person to have the power of the presidency.