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Nobody has ever given my family "free stuff" or subsidized my lifestyle. We're small business owners and we pay more taxes than most people earn in a year. I think it's unfair that they pay 15% for capital gains while I work for a living and support everyone else by paying out the nose on my personal income taxes. It's not about being jealous--it's about being fair. They benefit the most, and they make their money by using the infrastructure that people like me pay for. They need to at least pay the same percent that I do. I'm tired of giving free handouts to people just because they're rich. Who made up that rule?
If it does not shift taxes off producers it will do absolutely nothing. Its the completely wrong POV.
Yep. Unintended negative consequences. Kind of like how giving government handouts to the poor when they have children has resulted in those who receive public assistance having a birth rate 3 times that of everyone else. The welfare-dependent are exponentially outbreeding those who have to pay to support them. It's simply unsustainable and will eventually collapse the system.
Nobody has ever given my family "free stuff" or subsidized my lifestyle. We're small business owners and we pay more taxes than most people earn in a year. I think it's unfair that they pay 15% for capital gains while I work for a living and support everyone else by paying out the nose on my personal income taxes. It's not about being jealous--it's about being fair. They benefit the most, and they make their money by using the infrastructure that people like me pay for. They need to at least pay the same percent that I do. I'm tired of giving free handouts to people just because they're rich. Who made up that rule?
Okay. So if the time comes for you to sell your business, you should be taxed on the profit of the sale at 35%.
Oh, I see we've moved on to the "everybody rich makes all of their money through investing on Wall Street" portion of tonight's show.
Is the argument this time that A) all rich people are hedge fund managers, or B) that the super rich simply earn more from investments? I don't feel like playing catchup. If it's A, well....we're pretty much in agreement. If your entire job is investing and that's how you earn your living, that probably should be taxed as income.
However, if it's B....that money that they are investing? It's money that they were ALREADY TAXED ON. What, you think the money just appeared out of thin air? No. They worked, they earned that money, that money was taxed at the appropriate rate, and then they invested it. Taxing it as earnings AGAIN is just double taxation, and is a ridiculous argument. That money isn't guaranteed. They can lose money on that. The government doesn't allow unlimited write-offs for losses. It's only something like $3,000 per year. So if they can't write off anything they lose, no matter how much, they shouldn't be double taxed on what they earn.
oh please. lol. 250k, even 600k is a drop in the bucket for the top 1%.
Translation:
"They have plenty of money. There's nothing wrong with me wanting the government to take it from them for no reason other than my jealousy. I'm convinced that they sit around sipping martinis all day, even though I really have no clue how much effort they put into what they have to do for that money. But who cares? I don't want them to have it! Now where did I put my blinders? And can someone please tell me the URL to thinkprogress.org?"
oh please. lol. 250k, even 600k is a drop in the bucket for the top 1%.
Except for the fact that he was just "guesstimating". Nobody knows what the top 400 pay, but it's well documented that Bill Gates pays in excess of 5 million every year, even after the massive deductions he gets for all the donations he makes to the Bill & Melinda Gates Foundation. Someone like Larry Ellison or the Waltons, who aren't so generous with their money, probably pay significantly more.
In short, he pays more in a year than someone like you is likely to make over the course of a lifetime.
Something HAS to be done to stop the 1% of our population from controling 99% of the wealth. Thats what the "occuply" stuff is all about. Call it what you want but this much economic power MUST be taken away from the few who have it.
Except for the fact that he was just "guesstimating". Nobody knows what the top 400 pay, but it's well documented that Bill Gates pays in excess of 5 million every year, even after the massive deductions he gets for all the donations he makes to the Bill & Melinda Gates Foundation. Someone like Larry Ellison or the Waltons, who aren't so generous with their money, probably pay significantly more.
In short, he pays more in a year than someone like you is likely to make over the course of a lifetime.
no personal attacks.
Oh but you do...yeah, okay whatever.
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. lol. 250k, even 600k is a drop in the bucket for the top 1%.
whatever.
