Uncle "Crack Pot" Releases Tax Plan

[Damaged Eagle]

What our "tax dollars" should be used for by the federal government is listed in the US Constitution.

"I cannot undertake to lay my finger on that article of the Constitution, that grants Congress the right of expending on articles of benevolence, the money of their constituents."
James Madison, annals of Congress, 1794

Whatever you say. That shit is OUTDATED. Government has provided what we need with our taxes paying for it for a LONG time and its not going to change anytime soon. Your pipe dream country is gone.

Ah, a typical liberal anti-constitutionalist I see.

Not that I'm surprised.

Not anti constitution I am PRO moving forward with common sense.If a piece of paper gets in the way then it needs removed from consideration.

View attachment 60969

Yes. Other people in the past have felt that way when a piece of paper got in their way...

*****SMILE*****

Bit of an addiction to youtube videos.....

*****CHUCKLE*****

 

[Skull Pilot]

The 250k to 500k folks ARE your middle class.

FYI: At 250k you can use the tax loopholes reserved for the rich. If you made that much you would know.

What tax loopholes are those?

1) Leasing yourself to your employer.
2) Family Trust Corporation.
3) Deferring income for investments such as a house/income property.

Deferred income isn't a tax dodge you pay it all sooner or later everyone who knows anything knows that

And last time I checked anyone not just so called rich people could establish a family trust

 

[Skull Pilot]

Let me get this straight..... You think you can raise taxes on people so that the government will have more revenue but then those same people you're taxing can write it off and get it all back.

What was the point in raising the taxes in the first place if nothing is going to be taken?

Is this part of that new liberal progressive math?

Why would Ray increase his rent when the taxes are fully deductible lowering his federal tax?

Why wouldn't he

Why should he settle for a lower profit margin just because some fuckwad in DC increases his overhead with additional taxes?

 

[OnePercenter]

The 250k to 500k folks ARE your middle class.

FYI: At 250k you can use the tax loopholes reserved for the rich. If you made that much you would know.

What tax loopholes are those?

1) Leasing yourself to your employer.
2) Family Trust Corporation.
3) Deferring income for investments such as a house/income property.

Deferred income isn't a tax dodge you pay it all sooner or later everyone who knows anything knows that

And last time I checked anyone not just so called rich people could establish a family trust

It depends how you defer the income. For example, if you defer $300k and buy a property, you can live in that property rent free, enjoy the appreciation in value, and not pay tax on the deferred amount until you sell the property.

I didn't write family trust, I wrote family trust corporation.

 

[Rustic]

I bet your all excited to find out how much all that "FREE" sh#t is going to cost you lets just go to the NUMBERS!

Taxes for everyone are GOING UP! Dear sweet socialist "Uncle Crack Pot" says you ALL need to pay EVEN you POOR! He needs MORE money for that free sh#t as he reaches back in his bag and pulls this crap out.

The 250k to 500k folks ARE your middle class. And is he going to hammer them. His tax rates are simply to high for anything but government to grow.

Here's what the tax code would look like if Bernie Sanders got everything he wanted

Bernie is delusional bag of shit...

 

[Skull Pilot]

The 250k to 500k folks ARE your middle class.

FYI: At 250k you can use the tax loopholes reserved for the rich. If you made that much you would know.

What tax loopholes are those?

1) Leasing yourself to your employer.
2) Family Trust Corporation.
3) Deferring income for investments such as a house/income property.

Deferred income isn't a tax dodge you pay it all sooner or later everyone who knows anything knows that

And last time I checked anyone not just so called rich people could establish a family trust

It depends how you defer the income. For example, if you defer $300k and buy a property, you can live in that property rent free, enjoy the appreciation in value, and not pay tax on the deferred amount until you sell the property.

I didn't write family trust, I wrote family trust corporation.

any one can start a corporation too

Like I said deferred taxes are not a loophole for the rich

 

[OnePercenter]

any one can start a corporation too

Like I said deferred taxes are not a loophole for the rich

If you're writing of family trust corporation, you'll need at least $1M for it to be effective.

Deferred income is a minimum of $250k.

BOTH are for the rich.

 

[Moonglow]

Let me get this straight..... You think you can raise taxes on people so that the government will have more revenue but then those same people you're taxing can write it off and get it all back.

What was the point in raising the taxes in the first place if nothing is going to be taken?

Is this part of that new liberal progressive math?

Why would Ray increase his rent when the taxes are fully deductible lowering his federal tax?

Double dipping into der cream..

 

[Skull Pilot]

any one can start a corporation too

Like I said deferred taxes are not a loophole for the rich

If you're writing of family trust corporation, you'll need at least $1M for it to be effective.

Deferred income is a minimum of $250k.

BOTH are for the rich.

Sorry but you're wrong as usual

There is no minimum capital needed to start a family trust corp in fact one can be used to create generational wealth and anyone can defer taxes as there are many vehicles that allow it

 

[OnePercenter]

any one can start a corporation too

Like I said deferred taxes are not a loophole for the rich

If you're writing of family trust corporation, you'll need at least $1M for it to be effective.

Deferred income is a minimum of $250k.

BOTH are for the rich.

Sorry but you're wrong as usual

There is no minimum capital needed to start a family trust corp in fact one can be used to create generational wealth and anyone can defer taxes as there are many vehicles that allow it

A family trust corporation needs to have a minimum of $1M in assets to be effective. The added expense vs. savings isn't present as the reason for adding a corporation is to get around distribution restrictions of a family trust.

Deferring taxes is only really effective when you can have your cake and eat it too. Living rent/mortgage free and moving that savings into investments for later.

 

[Skull Pilot]

any one can start a corporation too

Like I said deferred taxes are not a loophole for the rich

If you're writing of family trust corporation, you'll need at least $1M for it to be effective.

Deferred income is a minimum of $250k.

BOTH are for the rich.

Sorry but you're wrong as usual

There is no minimum capital needed to start a family trust corp in fact one can be used to create generational wealth and anyone can defer taxes as there are many vehicles that allow it

A family trust corporation needs to have a minimum of $1M in assets to be effective. The added expense vs. savings isn't present as the reason for adding a corporation is to get around distribution restrictions of a family trust.

Deferring taxes is only really effective when you can have your cake and eat it too. Living rent/mortgage free and moving that savings into investments for later.

Sorry none of those so called loopholes are reserved exclusively for the rich anyone can use them

SO your entire premise is crap

 

[Stephanie]

was just reading this:
snip:
Capital Hill
Bernie Sanders’ Tax Plan Would Kill 6 Million Jobs — Analysis
Bernie Sanders' tax plan would raise taxes by $13.8 trillion over the next decade.

• JOHN MERLINE
• 6:11 PM EST

• 
  

Bernie Sanders plan to raise taxes by $13.6 trillion over the next decade would have a devastating effect on the economy, according to a detailed analysis released on Thursday by the Tax Foundation.

The analysis concludes his myriad tax hikes would cut GDP growth by 9.5%, reduce the nation’s capital stock by 18.6% and result in 6 million fewer full-time equivalent jobs.

“Sanders’ plan would significantly increase marginal tax rates on capital and labor income,” authors Alan Cole and Scott Greenberg say, “which would result in a substantial reduction of the size of the U.S. economy in the long run.”

After accounting for the economic harm done by Sanders’ tax hikes, the Tax Foundation figures that it will end up producing 28% less actual revenue than advertised over 10 years.

While Sanders has focused his campaign almost exclusively on wealth redistribution and attacks on the rich, his tax plan would hit everyone who pays taxes.

Sanders’ proposal includes a 2.2% surcharge on every tax bracket, effectively raising the 10% bracket to 12.2%, the 15% bracket to 17.2%, and so on. He also wants to add four new tax brackets that reach as high as 54.2%. He’d tax capital gains and dividends as ordinary income, substantially raising them for most investors.

In addition, Sanders proposes a new 6.2% payroll tax paid by employers to help finance his “Medicare for all” plan, plus another 0.4% payroll tax split between workers and employers to fund a “family and medical leave trust fund.” He would remove the income cap on Social Security payroll taxes on incomes over $250,000.

The Tax Foundation figures that Sanders would reduce after-tax income for the bottom half of taxpayers by “at least 4.87%” and the top half of taxpayers by “at least 8.57%.”

In addition, Sanders wants to eliminate tax deductions used by oil, gas and coal industries, add a financial transactions tax on the value of stocks, bonds and other financial assets traded in the U.S., and raise the estate tax rate while lowering the exclusion.

The Tax Foundation estimates that the bulk of the $13.6 trillion in revenues would come from the income tax hike, which would cost taxpayers $4.9 trillion, and the payroll tax hikes, which would cost individuals and businesses a total of $8.3 trillion.

The entire analysis is available at the Tax Foundation website.

all of it here:
http://www.investors.com/politics/c...-tax-plan-would-kill-6-million-jobs-analysis/