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Someone, I don't remember who was very adamant about only talking about income taxes when assessing what is fair.
Well the wealthy can certainly avoid paying a large tax if they wanted to... Why not live in a luxury rental and pay less property taxes. Don't own yachts or other luxury items if you want to save money. If you really wanted to save money, then don't spend it as a manner of speaking.
It hits the successful hard because they voluntarily allow it to. Owning a house or property is not a right or something mandatory. Maybe try another example?
If they rented, they would have to pay the property taxes, indicrectly, as part of their rent check.
You are hopelessly lost. Perhaps you should jump in on a different threads.
If you had bothered, and you didn't, to read the article, you know that the rich pay more taxes because of TWO FACTOR
A. Their taxable income is higher
B. Their effective tax rate is hitgher, up to 400% higher
See how that works???
Except that the VERY rich make their money from capital gains, which is taxed lower than ordinary income and isn't subject to Social Security or Medicare taxes.
Of the top 400 taxpayers, they all paid lower rates than most Americans that paid taxes.
Except that the VERY rich make their money from capital gains, which is taxed lower than ordinary income and isn't subject to Social Security or Medicare taxes.
Of the top 400 taxpayers, they all paid lower rates than most Americans that paid taxes.
Capital gains/losses are the result of risk. There has to be incentive for risk taking with your money.
Only those with money can afford to take that risk. Why shouldn't there be incentive and reward for it ?
If they rented, they would have to pay the property taxes, indicrectly, as part of their rent check.
You are hopelessly lost. Perhaps you should jump in on a different threads.
No you just don't read or comprehend things...
Post 134
Quote:
Originally Posted by dv1033
Uh.... I didn't know owning property was a mandatory thing... but even those poor people renters pay property taxes as part of their rent. Or do you think landlords don't pass those costs along?
Post 137
Quote:
Originally Posted by dv1033
I'm not really sure what your point is here. Some people choose to buy residences or property and pay property taxes directly. Some people choose to rent residences or property and pay property taxes indirectly. Either way the same amount of money is being paid to da gubment relative to the worth of the property.
Capital gains/losses are the result of risk. There has to be incentive for risk taking with your money.
Only those with money can afford to take that risk. Why shouldn't there be incentive and reward for it ?
According to Warren Buffett, who is the most successful and experienced investor that has ever lived, what you said is untrue. Investors are incentivized by merely making a profit on their investment. The taxpayer doesn't have to subsidize investor risk. The proof of this is that when capital gains taxes were 40%, there were plenty of investors willing to risk their money.
SUPPOSE that an investor you admire and trust comes to you with an investment idea. “This is a good one,” he says enthusiastically. “I’m in it, and I think you should be, too.”
Would your reply possibly be this? “Well, it all depends on what my tax rate will be on the gain you’re saying we’re going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent.” Only in Grover Norquist’s imagination does such a response exist.
Quote:
...maybe you’ll run into someone with a terrific investment idea, who won’t go forward with it because of the tax he would owe when it succeeds. Send him my way. Let me unburden him.
If they rented, they would have to pay the property taxes, indicrectly, as part of their rent check.
You are hopelessly lost. Perhaps you should jump in on a different threads.
Wrong.
The LANDLORD pays DIRECT property taxes on his investment property. The landlord charges what the market will handle in an area, regardless of whether his property taxes are 100/year, or 10000/year. He pays the property tax regardless of whether he has a tenant or not.
If he raises his rent by $50/month because of increased property taxes, his tenants are either going to adjust and pay (just like if his homeowner's insurance went up, causing a rise in rents), or they will leave.
As you can see from the above posts, it's not how much the rich pay in taxes, it's how much they get to keep.
And these people think the rich get to keep too much.
So, it's not really a debate of how much to tax them. It's really a debate of how much to let them keep while handing all the rest over to Uncle Sam.
The rich are keeping too much money for the likes of the left.
Exactly. Snark away, but this is the crux. At 20% the rich aren't being taxed nearly enough. That's why the marginal rate was once 92%!!! Do you not wonder why??? Hmmmm.... decades ago much smarter people than you or I knew that a country this size could not survive by squeezing low wage earners to death. Alone. Five decades of lowering the tax rates on the uber wealthy have brought us to this low point in our country's history. And it still isn't low enough for the likes of you. I've got nothing more to say. If you guy's can possibly swing it at get tax rates down to 4% like "regular folk" who am I. I've got an exit strategy for getting out of here when and if the grid goes down. Do you??
H
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