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My capital gains rate if I hold more than a year is 15%. That money was already taxed at approx. 30 percent initially. That is if you hold more than a year. Short term gains are taxed at ordinary income. Combine that up that is 50% tax give or take a few points either way. Tax tax tax, take take take, redistribute redistribute. Thats all they know.
1. We earn income.
2. We then pay tax on that income.
3. We then either consume our after-tax income, or we save and invest it.
4. If we consume our after-tax income, the government largely leaves us alone.
5. If we save and invest our after-tax income, the government penalizes us with as many as four layers of taxation.
I have no problem with capital gains (and inheritance) taxes being lower than other taxes, because they ARE both taxed initially. However, I am not opposed to regulations on reinvesting those capital gains withing a reasonable time to avoid paying taxes on them.
1. We earn income.
2. We then pay tax on that income.
3. We then either consume our after-tax income, or we save and invest it.
4. If we consume our after-tax income, the government largely leaves us alone.
5. If we save and invest our after-tax income, the government penalizes us with as many as four layers of taxation.
My capital gains rate if I hold more than a year is 15%. That money was already taxed at approx. 30 percent initially. That is if you hold more than a year. Short term gains are taxed at ordinary income. Combine that up that is 50% tax give or take a few points either way. Tax tax tax, take take take, redistribute redistribute. Thats all they know.
What are you talking about...Unless capital gains tax works different in the US you are only taxed on the increased value of whatever property you own...For example if I bought a house in 2000 for $200,000 rented it, then sold it in 2012 for $500,000 I would have to pay capital gains tax on the difference ($300,000) Tax has never been paid on that $300,000.
Perhaps the rules are different in the US, but had that house been my principle residence, no capital gains tax would apply on the gain in value, however if I get income from it the tax would apply, but to only half of the increased value of the home.
If I earn my money legally and choose to invest it wisely, what claim does the government have on the returns from my investment? Should my money be confiscated and redistributed because others don't have the foresight or the discipline to earn investment income?
Let's put it another way. Say I invest $10,000 and and at the end of two years I only have $8500. Is the government going to reimburse me for my loss? If not, then what right do they have to demand a chunk of my gains?
Here is is called a capital loss and is deducted from the income you made the year the loss occurred. I would assume that the same applies to the US tax rules, does it not?
I have no problem with capital gains (and inheritance) taxes being lower than other taxes, because they ARE both taxed initially. However, I am not opposed to regulations on reinvesting those capital gains withing a reasonable time to avoid paying taxes on them.
you only are taxed on the part you've not been taxed on and if you lose money you can write it off, i'm mostly a libertarian and don't like capital gains taxes but i do get that it's not retaxed, by that logic state sales tax is retaxing so is state income tax, but those aren't either and no one claims they are...i know one person said if you spend the money they leave you alone not in most states, sales tax and tagging your car and such are consumption taxes, all states have gas taxes, so if you spend you get taxed too...there's a lot of those taxes i don't like but i argue that, not that they are retaxation.
My capital gains rate if I hold more than a year is 15%. That money was already taxed at approx. 30 percent initially. That is if you hold more than a year. Short term gains are taxed at ordinary income. Combine that up that is 50% tax give or take a few points either way. Tax tax tax, take take take, redistribute redistribute. Thats all they know.
If I understand you right, this is not true. What money was initially taxed at 30%? The money you invested? O.K.
So you invest $10,000. At the end of two years you have $11,500. Only the $1500 is taxed. Why shouldn't it be taxed as income as it is income?
teabaggers don't understand math.
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