Should the United States go back to a top federal tax rate of 70%?

[task0778]

I would like to know which members of the USMB here warm over $10 million a year.

The income above 10 million will be taxed at 70%.

Please vote in my poll.

Why do you care?

Does looting suddenly become a moral act because you limit your plunder to the really, really, really rich part of town?

By Christian ethics the answer is yes.

Well that's interesting, at what point does stealing become an immoral act? I'm pretty sure that by Christian ethics, stealing is immoral no matter who the victim is.

How sure are you?

Very sure. I know of no passage in the Bible or anything in the teachings of Jesus that absolves stealing from anybody, and nothing that says it's okay if the victim is a rich person. So, my question to you is, what makes you think that Christian ethics consider stealing to be a moral act if the victim is rich? Certainly, charity and sacrifice to benefit others is considered to be a good thing in the eyes of God, and Jesus said it would be easier for a camel to go through the eye of a needle than for a rich man to enter Heaven, but that is not the same thing as saying it's okay to steal from the wealthy.

 

[Butch_Coolidge]

I heard she was a waitress before her present position. I’m doubting she got 20% in tips. She looks and sounds bay shit crazy.


Sent from my iPhone using Tapatalk

 

[Dragonlady]

How did Occasional Cortex's plan work in Venezuela?

It wasn't tried. What was tried was the IMF plan for aid and recovery. The IMF has wrecked more economies in the name of "saving" them than bad politics.

 

[Toddsterpatriot]

How? Nothing I've seen shows the dividend rate is that low. What's your secret?

Okay, there is one rule of thumb for low dividend tax rates. You must hold the stocks over a long period of time. If you day trade, you wont get the tax break.

Dividends that qualify for the lower long-term capital gains tax rates are called qualified dividends.
Qualified dividends were taxed at rates of 0, 15 or 20 percent through 2017, depending on your tax bracket. Then the Tax Cuts and Jobs Act (TCJA) came along and changed things up somewhat. The rates are still set at 0, 15, and 20 percent, but now long-term capital gains have their own tax brackets—at least through 2025 when the TCJA potentially expires.

Okay, there is one rule of thumb for low dividend tax rates. You must hold the stocks over a long period of time.

Only if you consider 60 days to be long-term.

The rates are still set at 0, 15, and 20 percent,

Yup. Still no mention of 5% rates on $440,000.
You want to modify your story?

I have had Home Depot stock since 1987 very long term making 2.2% dividend income but only cost me $2.00 a share. I have been buying other stocks like Boeing in 1991 holding that dividend about 2.55% still long term. I have stocks that I bought just after the crash of 2007 but the average of all the dividends is around 5% taxes that was what I paid last year. Talk to a CPA if you want more understanding...

Long term capital gains are awesome.
Which has nothing to do with your (faulty) claim that you regularly pay a 5% tax rate on your $440,000 in annual dividends. I don't need to talk to a CPA to see your error.

Try again?

You are like the guy that said that I couldn't change my mortgage from a 30 year fixed monthly payment to a 30 year fixed bi-monthly payment that turned the 30 years into a 22 year mortgage. When my bank and I set up the arrangement, I did just that, because most of the interest paid on the monthly is from day 15 to day 30/31. When you pay 1/2 in first 15 days and the other 1/2 in the last 15/16 the compounded daily resets at 15 and you save a ton on interest. Oh well, you go ahead and tell me it cant be done, I will gladly take my 5% tax and just do fine with the legal loophole..

What does your re-fi have to do with your lie about the dividend tax rate?

Ordinary dividends are the most common type of distribution from a corporation or a mutual fund and are taxable. They are paid out of earnings and profits and are ordinary income to you. This means they aren't capital gains. You can assume that any dividend you receive on common or preferred stock is an ordinary dividend unless the paying corporation or mutual fund tells you otherwise. Ordinary dividends will be shown in box 1a of the Form 1099-DIV you receive.

Qualified dividends are the ordinary dividends subject to the same 0%, 15%, or 20% maximum tax rate that applies to net capital gain. They should be shown in box 1b of the Form 1099-DIV you receive. The maximum rate of tax on qualified dividends is the following. 0% on any amount that otherwise would be taxed at a 10% or 15% rate. 15% on any amount that otherwise would be taxed at rates greater than 15% but less than 39.6%. 20% on any amount that otherwise would be taxed at a 39.6% rate.

https://www.irs.gov/pub/irs-pdf/p17.pdf

Federal Tax Rates, Personal Exemptions, and Standard Deductions

I'll pretend your wage income was actually $0.

Based on your claim of $440,000 in dividends, it looks like the first $9325 in dividends (10% tax bracket) is taxed at 0%.
Zero dollars owed.

The dividends between $9325 - $37950 (15% tax bracket) is also taxed at 0%.
Zero dollars owed.

The dividends between $37950 - $418,401 (25%, 28%, 33% and 35% tax brackets) is taxed at 15%.
$57,067.65 owed.

The dividends between $418,401 - $440,000 (39.6% bracket) is taxed at 20%.
$4,319.80 owed.

$0 + $0 + $57,067.65 + $4,319.80 = $61,397.45

$61,397.45 / $440,000 = 13.95%

Not 5%.

 

[Butch_Coolidge]

Oh, I know!!!

Let's take money from people who know how to make it and turn it over to an entity that loses $1,000,000,000,000 annually!

They want to up the welfare payments to over $2 trillion a year, that would end that ole war on poverty..

Hey, generic cigs are unacceptable!


Sent from my iPhone using Tapatalk

 

[Remodeling Maidiac]

 

[Fang]

YES my income would be affected. My employer couldn't afford to pay half his employees. I would be out a job.

 

[presonorek]

I would like to know which members of the USMB here warm over $10 million a year.

The income above 10 million will be taxed at 70%.

Please vote in my poll.

Why do you care?

Does looting suddenly become a moral act because you limit your plunder to the really, really, really rich part of town?

By Christian ethics the answer is yes.

Well that's interesting, at what point does stealing become an immoral act? I'm pretty sure that by Christian ethics, stealing is immoral no matter who the victim is.

How sure are you?

Very sure. I know of no passage in the Bible or anything in the teachings of Jesus that absolves stealing from anybody, and nothing that says it's okay if the victim is a rich person. So, my question to you is, what makes you think that Christian ethics consider stealing to be a moral act if the victim is rich? Certainly, charity and sacrifice to benefit others is considered to be a good thing in the eyes of God, and Jesus said it would be easier for a camel to go through the eye of a needle than for a rich man to enter Heaven, but that is not the same thing as saying it's okay to steal from the wealthy.

Christ acknowledges Ceaser's authority to collect taxes. In another reference Christ even submits to this authority. There are also references in Romans legitimizing worldly authorities. When you say steal you mean to take something that does not belong to you. The Roman Emperor owned everything. In other parts of history, Kings owned everything. In the United States, the people own everything. This type of stealing is justifiable in both the Old and New Testament. The richness or the poorness of the citizen is not relevant. The authority of the government to tax is respected by God in the New Testament and commanded by God in the Old Testament.

I understand your frustration. The Bible is contrary to thousands of years of Anglo Saxon traditions. It is hard to reconcile the two. Well. It is actually impossible.

 

[presonorek]

YES my income would be affected. My employer couldn't afford to pay half his employees. I would be out a job.

Your employer makes ten million dollars a year? What industry are you in? I'm starting a business like that. Screw working for someone else. I want to pay that 70% tax.

 

[Dragonlady]

I would like to know which members of the USMB here warm over $10 million a year.

The income above 10 million will be taxed at 70%.

Please vote in my poll.

Why do you care?

Does looting suddenly become a moral act because you limit your plunder to the really, really, really rich part of town?

By Christian ethics the answer is yes.

Well that's interesting, at what point does stealing become an immoral act? I'm pretty sure that by Christian ethics, stealing is immoral no matter who the victim is.

How sure are you?

Very sure. I know of no passage in the Bible or anything in the teachings of Jesus that absolves stealing from anybody, and nothing that says it's okay if the victim is a rich person. So, my question to you is, what makes you think that Christian ethics consider stealing to be a moral act if the victim is rich? Certainly, charity and sacrifice to benefit others is considered to be a good thing in the eyes of God, and Jesus said it would be easier for a camel to go through the eye of a needle than for a rich man to enter Heaven, but that is not the same thing as saying it's okay to steal from the wealthy.

Jesus said that the love of money is the root of all evil, and to "Render to Cesar what is Cesar's". That was what he said in reference to taxes. He also said that it was easier for a camel to pass through the eye of a needle than for a rich man to enter the Kingdom of God. When God's servants became Kings, they lost their way and turned away from God's Laws. Jesus threw the money changers out of the Temple. He was most definitely not a fan of the wealthy.

But taxation is NOT theft. Taxation is paying your fair share of the costs of running a first world country with fair and unbiased courts, security, safety and preservation of personal property and wealth, and the lions' share of those costs should rightfully be borne by those who are receiving the MOST benefit from the underlying government and infrastructure that makes your level of wealthy possible.

And to continue to maintain the country in the manner to which YOU have become accustomed. Because unless and until the wealthy stop syphoning off all of the wealth created by the working class, leaving the working class dependent on government handouts, the country will continue on its downward spiral. Stop running massive deficits. It's not in anyone's best interests except the wealthy, who are getting richer, while everyone else gets poorer.

 

[presonorek]

I know of no passage in the Bible or anything in the teachings of Jesus that absolves stealing from anybody, and nothing that says it's okay if the victim is a rich person.

Maybe you shouldn't just focus on one passage. Reading the whole thing might bring light on the situation. Lots of people have read the entire Bible.

 

[Bootney Lee Farnsworth]

Maybe you shouldn't just focus on one passage. Reading the whole thing might bring light on the situation. Lots of people have read the entire Bible.

If that be the case, every Christian should convert to Norse Paganism and we can all start living right.

Mercy is for the weak.

Fuck your neighbor before he fucks you.

Die with a gun in your hand.

Feast, Fight, and Fuck in the halls of Valhalla forever!!

.

 

[Oddball]

Christ acknowledges Ceaser's authority to collect taxes. In another reference Christ even submits to this authority. There are also references in Romans legitimizing worldly authorities. When you say steal you mean to take something that does not belong to you. The Roman Emperor owned everything. In other parts of history, Kings owned everything. In the United States, the people own everything. This type of stealing is justifiable in both the Old and New Testament. The richness or the poorness of the citizen is not relevant. The authority of the government to tax is respected by God in the New Testament and commanded by God in the Old Testament.

I understand your frustration. The Bible is contrary to thousands of years of Anglo Saxon traditions. It is hard to reconcile the two. Well. It is actually impossible.

Missed that part where the laws of men > the laws of God.

Care to clue in the class, oh great Oracle?

 

[presonorek]

Christ acknowledges Ceaser's authority to collect taxes. In another reference Christ even submits to this authority. There are also references in Romans legitimizing worldly authorities. When you say steal you mean to take something that does not belong to you. The Roman Emperor owned everything. In other parts of history, Kings owned everything. In the United States, the people own everything. This type of stealing is justifiable in both the Old and New Testament. The richness or the poorness of the citizen is not relevant. The authority of the government to tax is respected by God in the New Testament and commanded by God in the Old Testament.

I understand your frustration. The Bible is contrary to thousands of years of Anglo Saxon traditions. It is hard to reconcile the two. Well. It is actually impossible.

Missed that part where the laws of men > the laws of God.

Care to clue in the class, oh great Oracle?

You are right. Give me a about 10 minutes.

 

[presonorek]

Care to clue in the class, oh great Oracle?

Let every soul be subject unto the higher powers. For there is no power but of God: the powers that be are ordained of God. Whosoever therefore resisteth the power, resisteth the ordinance of God: and they that resist shall receive to themselves damnation. For rulers are not a terror to good works, but to the evil. Wilt thou then not be afraid of the power? do that which is good, and thou shalt have praise of the same: Romans 13:1-3

 

[Oddball]

Care to clue in the class, oh great Oracle?

Let every soul be subject unto the higher powers. For there is no power but of God: the powers that be are ordained of God. Whosoever therefore resisteth the power, resisteth the ordinance of God: and they that resist shall receive to themselves damnation. For rulers are not a terror to good works, but to the evil. Wilt thou then not be afraid of the power? do that which is good, and thou shalt have praise of the same: Romans 13:1-3

You're a fraud, who worships at the altar of The State....Roast in hell, bearer of false witness.

 

[Bootney Lee Farnsworth]

You're a fraud, who worships at the altar of The State....Roast in hell, bearer of false witness.

The response to him is simple.

"Fine. Fuck the Bible."

 

[presonorek]

You're a fraud, who worships at the altar of The State....Roast in hell, bearer of false witness.

The response to him is simple.

"Fine. Fuck the Bible."

My opinion wasn't even in that post. lol. It was word for word from the Bible.

 

[Oddball]

 

[presonorek]

You're a fraud, who worships at the altar of The State....Roast in hell, bearer of false witness.

Yes I am. Everything I say is lies and pure evil. Do me a favor. Copy and paste Romans 13:1-3 to expose me for the fraud and bearer of false witness that I am.