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weren't you claiming previously that people who make $90k were paying more in taxes? in order to learn something, I must first be familiar with the "teacher." I have no clue what "rush radio" is. if by learning crap, you are referring to simple mathematics, I am guilty.
Perhaps I said people who make $90,000 a year pay 30%+, when its actually 28%.
I was also claiming that billionaires pay 17%, but its actually 11% to 14%.
I was in the ballpark, (while you're in supply side/trickle down land !!!)
so comparing an income tax to a capital gains tax is your argument? you want to raise taxes on the 100,000,000 americans that have a 401k? you want to raise taxes on teachers, police officers, firemen, and the working poor? another example of the hatred for the poor most liberals possess..
It's not 100,000,000 Americans that 401K's - it's 50,000,000. More to the point however, 401K's not taxed on capital gains. They are taxed TODAY as REGULAR INCOME (ie at the potentially HIGHER tax rate than the folks making their money through capital gains - depending of course on how much total income the people pulling from their 401K are making when they pull the money).
no. anyone who earns a salary of a billion dollars a year will pay 35% in taxes on that income.
And someone who earns a billion dollars a year from long-term capital gains will pay 15% in taxes on that income.
You know damn well that Buffet, Cheney and Romney don't make the vast bulk of their income on SALARY - they make it in long-term capital gains. How much the income tax rate is on the super rich is not really relevent when most of those folks make their money under long-term capital gains. For folks who make the bulk of their money via long-term capital gains, it's the long-term capital gains tax rate that's relevent - not the income tax rate, and the long-term capital gains tax rate is 15%.
And someone who earns a billion dollars a year from long-term capital gains will pay 15% in taxes on that income.
You know damn well that Buffet, Cheney and Romney don't make the vast bulk of their income on SALARY - they make it in long-term capital gains. How much the income tax rate is on the super rich is not really relevent when most of those folks make their money under long-term capital gains. For folks who make the bulk of their money via long-term capital gains, it's the long-term capital gains tax rate that's relevent - not the income tax rate, and the long-term capital gains tax rate is 15%.
Ken
Hey --- you left off the now filthy rich Clintons, Al Gore and all those other greedy wealthy fat cats.
No it isn't. But it is stupid, because it's not like countries like Greece had any option. They run out of money. If you as a household run out of money, then you got to cut.
Why don't liberals understand that countries in Europe did not enact austerity from free will. They were forced to enact austerity because no one was willing to borrow them money.
And liberals think Scandinavia is the most left wing section of Europe, even though it isn't.
Also, no countries in Europe are socialist. Many are social democratic.
Also, it sounds like what you really want to say is Republicans. There are some Democrats who are conservative too. Does your analysis apply for them too?
The governments of those nations did agree to enact austerity measures. Those governments were elected to represent the people of those nations.
Those nation's enacted austerity measures. Your point about it not being done of free will is completely irrelevant to the damage that austerity measures have done in those nations.
Hey --- you left off the now filthy rich Clintons, Al Gore and all those other greedy wealthy fat cats.
I don't think Buffet is greedy. He earned every penny he made. The question is - does he deserve such a low tax rate simply because of the METHOD with which he earned his income.
Ken
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