Capital Gains

[DudleySmith]

So you repeat yourself. You don't know of any refutations, obviously.

 

[Blues Man]

To encourage more investment in the Wall Street shell game

You mean the "shell game" that is responsible for more average people becoming wealthy than any other single thing?

Now Social Security is a shell game but you like that game because the government runs it right?

 

[Blues Man]

Someone who works for a living is creating wealth.
An investor is just moving wealth from one place to another

Not really.

Some guy who works for a living and dies broke or in debt didn't create any wealth.

 

[Blues Man]

If it does not matter
Why are Capital Gains taxed at a lower rate?

Capital gains are taxed up to 20%

it's a higher tax rate than most people ever pay

 

[Blues Man]

You are not paying taxes on your principle
Only your Capital GAINS

Because you already paid taxes on the principal.

If you buy stocks with after tax income, like most people do why should you be taxed again on it?

 

[DudleySmith]

When are these GOP shills going to fund a Big Giant Statue to Lester Madoff? He did nothing Wall Street gamblers weren't doing since before the Revolutionary War, except that he scammed a lot of rich Jewish lawyers instead of just fleecing the unwashed masses.

 

[DudleySmith]

Capital gains are taxed up to 20%

it's a higher tax rate than most people ever pay

After all the tax deductible swimming pools and the other thousands of nice tax breaks nobody in the working and middle classes will ever qualify for. Nobody ever paid the maximum rates, and they were never '90%' like some right wing shills bullshit the masses with.

 

[Blues Man]

You are describing yourself, in that the gains on the principle is taxed, not the principle.

The money used to buy stocks, the principal, has already been taxed as most people buy stocks with after tax money.

Every time a person sells one stock to buy another that sale is a taxable event as well.

You people need to learn the tax laws before you start whining about them.

 

[Blues Man]

After all the tax deductible swimming pools and the other thousands of nice tax breaks nobody in the working and middle classes will ever qualify for.

A personal swimming pool is not a tax deduction.

The single best way for any middle class person to actually become wealthy other than getting elected to Congress, is the stock market.

You people are just ignorant about how it works.

 

[DudleySmith]

Not really.

Some guy who works for a living and dies broke or in debt didn't create any wealth.

More rubbish. They pay far higher percentages of their incomes in taxes than wealthy deadbeats.

 

[DudleySmith]

You people need to learn the tax laws before you start whining about them.

lol the irony.

 

[Blues Man]

When are these GOP shills going to fund a Big Giant Statue to Lester Madoff? He did nothing Wall Street gamblers weren't doing since before the Revolutionary War, except that he scammed a lot of rich Jewish lawyers instead of just fleecing the unwashed masses.

Bullshit.

Madoff was a criminal that stole other people's money.

I don't have too much sympathy for his victims because they were just being greedy and didn't bother to do their due diligence.

 

[DudleySmith]

A personal swimming pool is not a tax deduction.

The single best way for any middle class person to actually become wealthy other than getting elected to Congress, is the stock market.

You people are just ignorant about how it works.

lol sure they are deductible, and gambling ones' savings in rigged markets might make a few lucky gamblers wealthy, but few are lucky.

You calling others 'ignorant' is hilarious.

 

[Blues Man]

More rubbish. They pay far higher percentages of their incomes in taxes than wealthy deadbeats.

How does that "create" wealth?

Taxes do not "create" wealth.

Wealth is nothing but net worth and a guy making 50K a year can have a higher net worth than a guy who makes twice that.

 

[Blues Man]

lol sure they are deductible, and gambling ones' savings in rigged markets might make a few lucky gamblers wealthy, but few are lucky.

You calling others 'ignorant' is hilarious.

You revel in your ignorance.

The stock market is the single best way for the average person to get wealthy over his lifetime.

 

[DudleySmith]

I don't have too much sympathy for his victims because they were just being greedy and didn't bother to do their due diligence.

As is anybody who gambles on stocks and commodities who aren't insiders.

 

[Blues Man]

As is anybody who gambles on stocks and commodities who aren't insiders.

I never gambled on stocks. I invested wisely and with a long term strategy and I retired financially independent at at age 51

 

[DudleySmith]

How does that "create" wealth?

Taxes do not "create" wealth.

Wealth is nothing but net worth and a guy making 50K a year can have a higher net worth than a guy who makes twice that.

More rubbish. They create the wealth that stock market gamblers try to leech off of.

Taxes subsidize all kind of businesses, from railroads to highways to sewer and water systems and all the invisible infrastructure businesses use, and of course more importantly the bankruptcy courts that protect shareholders assets form their victims when their scams finally fail. 'Limited Liabilty' was never intended to be a stop loss for just any moron who had a couple hundred bucks to incorporate, like it is now. Being a 'stockholder' is just a govt. protected scam these days.

Most 'shareholders' don't contribute a thing to the businesses they nominally own, and they aren't responsible for the losses if the company fails. They're just leeches. They want higher dividends and higher stock prices. Few of them have any clue as to what the companies they buy shares in are actually worth, and couldn't audit a snow cone stand in winter to save their lives.

 

[DudleySmith]

I never gambled on stocks. I invested wisely and with a long term strategy and I retired financially independent at at age 51

Everybody on the innernetz is rich and 'invested shrewdly'. lol anecdotal rubbish isn't an argument.

 

[Blues Man]

More rubbish. They create the wealth that stock market gamblers try to leech off of.

Taxes subsidize all kind of businesses, from railroads to highways to sewer and water systems and all the invisible infrastructure businesses use, and of course more importantly the bankruptcy courts that protect shareholders assets form their victims when their scams finally fail. 'Limited Laibilty' was never intended to be a stop loss for just any moron who had a couple hundred bucks to incorporate, like it is now. Being a 'stockholder' is just a govt. protected scam these days. Most 'shareholders' don't contribute a thing to the businesses the nominally own, and they aren't responsible for the losses if the company fails. They're just leeches.

Taxes do not "create wealth" in the stock market or anywhere else.

Taxes are money thrown into the black hole of government and you get very little value if any from them.

And by definition a shareholder contributes capital to a business with the purchase of stocks

Like I said you sure do love to revel in your ignorance.