Debunking Liberal Myths About the Rich and the Capital Gains Tax

[jc456]

The ones no one ever denied? Great plan there, Ace.

Wow, back pedaling much

 

[DudleySmith]

The dumbass is the twat whining about surplus value.

Yes, I've noticed both left and right wing dumbasses whining here.

 

[DudleySmith]

Wow, back pedaling much

lol

 

[DudleySmith]

It will increase fiduciary responsibility liability in courts of law, for one, and it will channel more money into real business investments instead of stock speculation for two.

Every company will be like a sole proprietorship?

That's what you got from that? lol

What, exactly, do you think a share of stock represents?

 

[AMart]

Liberals endlessly argue that the rich are not paying their fair share because many rich people do not pay income taxes but "only" pay capital gains taxes. Many rich people do not work for anyone and therefore do not receive a salary--and thus do not pay income taxes. These rich folks earn their money via capital gains and therefore they pay capital gains taxes.

Okay, well, if you make between $47K and $519K in capital gains, your capital gains tax rate is 15%. If you make over $519K in capital gains, your capital gains tax rate is 20%. This is well above the tax rate paid by most employed Americans. Tax data show that 77% of Americans pay an income tax rate of 15%. If your household income is between $22K than $89.4K, your income tax rate is only about 11% (since the income tax is graduated and the first $21K of household income is taxed at a rate of only 10%).

Anyone can confirm these facts by checking the federal capital gains tax brackets and the federal income tax brackets.

So, rich people who earn their money from capital gains do not pay a lower tax rate than most other Americans--they pay a higher tax rate than most other Americans.

Furthermore, these numbers do not include the enormous amount of taxes that many rich people pay in state and local property taxes, and the rich, unlike most other people, do not get a tax deduction for all of those taxes.

I thought leftists with all those fancy degrees were the rich?

 

[DudleySmith]

I thought leftists with all those fancy degrees were the rich?

They are, and the multinationals they control loved them some BLM, and they really love their Red Chinese business partners, too. The GOP wants to reward them with lots of tax breaks, subsidies, and huge piles of free money from the Fed, then pretend they're 'different' than the Democrats n stuff.

 

[Toddsterpatriot]

On 401ks?

How much are you planning to withdraw per year?
Under what filing status?

 

[ding]

It should be taxed the same as earned income

Spoken like someone without a lot of investments, but I believe that is an option for your 401k / IRA's, and it certainly is for short term capital gains.

 

[Toddsterpatriot]

That's what you got from that? lol

What, exactly, do you think a share of stock represents?

That's what you got from that? lol

I'm trying to better understand your moronic suggestion.
Sole proprietorships don't allow owners to shield their assets like a corporation does.
Is that what you want? An end to the corporate shield? An end to limited liability?

What, exactly, do you think a share of stock represents?

Ownership in a corporation that allows you to share in the profits but doesn't
allow you to be sued if the corporation does something wrong.

What, exactly, is wrong with that?

 

[DudleySmith]

That's what you got from that? lol

I'm trying to better understand your moronic suggestion.
Sole proprietorships don't allow owners to shield their assets like a corporation does.
Is that what you want? An end to the corporate shield? An end to limited liability?

What, exactly, do you think a share of stock represents?

Ownership in a corporation that allows you to share in the profits but doesn't
allow you to be sued if the corporation does something wrong.

What, exactly, is wrong with that?

You and JC are twins, right?

 

[DudleySmith]

Ownership in a corporation that allows you to share in the profits but doesn't
allow you to be sued if the corporation does something wrong.

What, exactly, is wrong with that?

lol so you oppose free markets and personal responsibility for owners. Okay

 

[ding]

and the people who have a massive majority of those funds are the ungodly wealthy, You seem to be confused. I said this multiple ways and it is the truth and you can't argue against it with facts , maybe with your alternative facts bu not real facts. The market is owned and operated by the ungodly wealthy , not only the people that control it but also the number of people that are invested in it. gains gains would never exist at 15% if the market money was middle class and poor money. Its time their free ride is over.

Is it time to occupy Wall Street?

 

[Toddsterpatriot]

lol so you oppose free markets and personal responsibility for owners. Okay

Should every shareholder be responsible if a company car hits a pedestrian?

 

[Lesh]

How much are you planning to withdraw per year?
Under what filing status?

Doesn’t matter. I have withdrawn some in the past and it was taxed as regular income. Not capital gains

 

[dblack]

That's what you got from that? lol

I'm trying to better understand your moronic suggestion.
Sole proprietorships don't allow owners to shield their assets like a corporation does.
Is that what you want? An end to the corporate shield? An end to limited liability?

What, exactly, do you think a share of stock represents?

Ownership in a corporation that allows you to share in the profits but doesn't
allow you to be sued if the corporation does something wrong.

What, exactly, is wrong with that?

A fair amount, in my opinion. Limited liability relieves investors of the responsibility to invest prudently.

If a sole proprietor of a business hires a manager for that business, and says "Do whatever you have to turn a profit. I don't wanna hear about the details, just do it." And then that manager does heinous things, illegal things, to make it happen - you can bet the proprietor will be held accountable to some extent. And they should be. Why should it be any different when there are multiple owners?

 

[Toddsterpatriot]

Doesn’t matter. I have withdrawn some in the past and it was taxed as regular income. Not capital gains

If you're talking about the tax rate on your withdrawals, of course the amount matters.

Never said it was the capital gains rate.

 

[Toddsterpatriot]

A fair amount, in my opinion. Limited liability relieves investors of the responsibility to invest prudently.

If a sole proprietor of a business hires a manager for that business, and says "Do whatever you have to turn a profit. I don't wanna hear about the details, just do it." And then that manager does heinous things, illegal things, to make it happen - you can bet the proprietor will be held accountable to some extent. And they should be. Why should it be any different when there are multiple owners?

A fair amount, in my opinion.

You want shareholders to have a fair amount of liability for corporate actions?

Limited liability relieves investors of the responsibility to invest prudently.

Investors who don't invest prudently can lose 100% of their investment.

If a sole proprietor of a business hires a manager for that business, and says "Do whatever you have to turn a profit. I don't wanna hear about the details, just do it." And then that manager does heinous things, illegal things, to make it happen - you can bet the proprietor will be held accountable to some extent.

Well, yeah, the proprietor could lose their house and all their assets.

Why should it be any different when there are multiple owners?

Presumably, the sole proprietor can keep a better eye on the operations than
a grandmother who owns 100 shares of Exxon Mobil

 

[rightwinger]

Spoken like someone without a lot of investments, but I believe that is an option for your 401k / IRA's, and it certainly is for short term capital gains.

Profit is income
It should be treated the same

 

[ding]

Profit is income
It should be treated the same

It is for short term capital gains.

 

[rightwinger]

It is for short term capital gains.

All profit