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America needs to stop the Voodoo Economics/Trickle Down Economics that was really created to make the rich even wealthier and it has worked. It has not worked to help the economy or the middle class. The rich keep getting wealthier and still want more, while the rest continue to decline. The wealthy do not need tax breaks.
If he paid it voluntarily, then it would only apply to him, and that would defeat the purpose.
Not at all. The Forbes article explains EXACTLY how many others do it. And it applies to all of them:
Quote:
"By contrast, some of the highest income taxpayers operate their businesses as privately held S corporations, which means that the businesses themselves pay no taxes, but pass through all their profits to their owners’ 1040s, where it is taxed at the ordinary top rate of 35%."
Eventually when you spend it ,yes, However, when it's taxed as Capital gains, it's only double taxed. If you spent it you wouldn't have it to invest.
There's no guarantee you're going to reinvest capital gains just like there's no guarantee that you're going to invest your wages. Capital gains has one more level of taxation over wages.
There's no guarantee you're going to reinvest capital gains just like there's no guarantee that you're going to invest your wages. Capital gains has one more level of taxation over wages.
Not necessarily. Capital gains is taxation on income.
Not necessarily. Capital gains is taxation on income.
I meant capital gains on corporate investments.... which is what kind of capital gains we're talking about when it comes to Buffet. I left that out in my previous post (although, I did clarify it on an earlier post).
Not necessarily. Capital gains is taxation on income.
No, it's taxation on profit, not income.
My interest and dividends are not capital gains.
Rent from investment RE is not capital gains.
The profit/loss I get when I sell an asset (stocks, RE, etc) is capital gains.
I'll wager from the types of comments here that many have no clue what capital gains are.
Does that mean you have never bought/sold stocks or real estate ?
Because if you had you'd see that you need a completely different form regarding capital gains/losses and even then, your losses are limited each year.
Dividends and bank interest received go right into the 1040..Schedule B to list them all but capital gains/losses is Schedule D
No, it's taxation on profit, not income. lower purchase price, resulting in a financial gain for the investor.
Correct, which is why so many dont get it.
Income from a business is taxed as income, and then when you sell the business, you are ALSO taxed on the profit
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