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I really hope you are joking and you aren't that confused about the facts.
You earn $17. You pay tax and have $10 left (using your numbers). You buy stock with that $10. That $10 worth of stock does well and is worth $25 when you cash it out. You pay capital gains on $15, because you gained $15. You already had $10, so it is not counted as a capital gain, only the $15 the stock went up is counted as a capital gain. Therefore, you pay taxes on the capital gain of $15. You pay NOTHING on the original $10 when you get it back.
You are correct regarding the original $10 if it was earned through wages. I am wrong.
But, if my corporation paid me the $17 in dividends, I pay tax on that even though my corporation paid corporate tax on that first.
And when I spend the money that was taxed twice I pay sales tax on the purchase. If I resell the item (like a used car) the buyer pays tax on it again. The money I receive then gets taxed again when I die. That is quadruple taxation plus the car buyers taxation!
Funny how all the wealthy are job creators and this tax will supposedly make them hire less when it is their personal tax rate not their business tax rate.
Actual job creators dont hire just because they get a tax reduction for their personal income taxes they almost always hire for 1 of 2 reasons.
1) Said employee will increase profit
2) Said employee will do a job the (owner/ manager) (does not want/ does not have time) to do.
Many small business owners file under Subchapter S, and their personal is their business tax.
A lot of small business owners quit because of high taxes, onerous regulations and government imposed mandates, that make running their business impossible. I think sometimes it's because of unintended consequences from poorly written laws and regulations. Other times I think it comes from big business working with government to drive out their smaller competitors.
You are correct regarding the original $10 if it was earned through wages. I am wrong.
But, if my corporation paid me the $17 in dividends, I pay tax on that even though my corporation paid corporate tax on that first.
And when I spend the money that was taxed twice I pay sales tax on the purchase. If I resell the item (like a used car) the buyer pays tax on it again. The money I receive then gets taxed again when I die. That is quadruple taxation plus the car buyers taxation!
...and the icing on the cake is that Cash-for-clunkers artificially increased the price of that used car. Isn't government great?!?
Many small business owners file under Subchapter S, and their personal is their business tax.
A lot of small business owners quit because of high taxes, onerous regulations and government imposed mandates, that make running their business impossible. I think sometimes it's because of unintended consequences from poorly written laws and regulations. Other times I think it comes from big business working with government to drive out their smaller competitors.
This sounds more like an opinion than anything substantive. I've yet to see any research supporting these kinds of claims.
Can someone please answer this question, the bush tax cuts have been around for some time now so why does'nt the "job creator" create? Why don't we have better employment numbers? The cuts were around before the current president was elected so why are you blaming him for not going along with this failed policy?
"job creators".....right wing slang for those making over $250K per year.
Right wingers ONLY have sympathy for the rich an hate workers trying to earn a living.
when are voters white voters going to wake up?
Seriously, just because someone makes alot of money doesn't mean they are creating jobs! Especially in high finance, the playas need to be seen as public enemy #1.
Can someone please answer this question, the bush tax cuts have been around for some time now so why does'nt the "job creator" create? Why don't we have better employment numbers? The cuts were around before the current president was elected so why are you blaming him for not going along with this failed policy?
The Bush cuts were put in place to get more spending into the economy, not more jobs. Who gave you the idea that the Bush cuts were to create jobs ?
When they became the Obama cuts ?
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Who's sick and tired of hearing the phrase JOB CREATORS
