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Old 03-22-2016, 05:20 AM
 
Location: Glendale, Arizona
482 posts, read 533,110 times
Reputation: 403

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Quote:
Originally Posted by beb0p View Post
The lesson here: never listen to conservatives for investment advice.
.
Why? All the idiots I saw lose money in the housing crash were all liberals.

 
Old 03-22-2016, 06:50 AM
 
Location: the very edge of the continent
88,990 posts, read 44,804,275 times
Reputation: 13693
Quote:
Originally Posted by TrexDigit View Post
Troy's not even attacking expenditures but their tracking.
No, he's attacking the fascist mentality that all one's earnings belong to the government and what they allow one to keep is a government "expenditure."

Really? How owned do you have to be to buy into fascism?
 
Old 03-22-2016, 06:54 AM
 
Location: the very edge of the continent
88,990 posts, read 44,804,275 times
Reputation: 13693
Quote:
Originally Posted by petlover8 View Post
This reminds me of when I hear all of these liberals constantly talk about "writing things off". I have to laugh. They tell me how foolish I am to have my house paid off. While they pay $10,000 a year in interest payments. They then proceed to tell me how I don't understand because they, "write it off". They claim, "I'm not taking advantage of all of the tax benefits the government is giving out". I try to tell them they're not giving out anything because they are only getting back the percentage of the tax bracket they fall into.

So for example, if they fall into a 20% tax bracket, they're only going to get back $2,000 of the $10,000 they paid. No matter how they cut it, they're still out $8,000 that I'm not. Their "write off" cost them $8K, period. They don't accept it and argue with me.
I frequently have that same argument with liberals. They just don't understand how to manage money.

Quote:
I then tell these liberal geniuses I'll make the same deal the government gives them. You pay me $10K over the course of the year. Any way you choose. Just so by December 31st you've given me $10,000. Then, by the following April 15th, I'll give you $2,000 back, and keep the remaining $8K for myself. Then you can run up and down the street, telling everyone who will listen, how badly you screwed me. And they talk about how we don't understand the tax code, all the while believing the bank is giving out free money.
Exactly. Thank goodness someone gets it.
 
Old 03-22-2016, 06:59 AM
 
Location: the very edge of the continent
88,990 posts, read 44,804,275 times
Reputation: 13693
Quote:
Originally Posted by beb0p View Post
No, Person X only paid $70 because the government credited back $10 to X.
No, the government did not. Tax credits are VERY different from tax deductions.
 
Old 03-22-2016, 07:04 AM
 
Location: the very edge of the continent
88,990 posts, read 44,804,275 times
Reputation: 13693
Quote:
Originally Posted by freemkt View Post
How do you explain A having lower income than B and paying more tax than B?
Tax law, which is why it's not a government expenditure.

Let's say we have a contract (there's that legality, again) in which A buys X from B for $Y.

B then enters a contract in which he sells X to to C for $Y-10.

The $10 less B collected from C is NOT an expenditure.
 
Old 03-22-2016, 07:09 AM
 
Location: the very edge of the continent
88,990 posts, read 44,804,275 times
Reputation: 13693
Quote:
Originally Posted by TrexDigit View Post
Uh- huh. Sure.

Also seems to be producing questionable students.
Sure looks that way...
Quote:
"This exam, given in 23 countries, assessed the thinking abilities and workplace skills of adults. It focused on literacy, math and technological problem-solving. The goal was to figure out how prepared people are to work in a complex, modern society.

And U.S. millennials performed horribly.

...But surely America’s brightest were on top?

Nope. U.S. millennials with master’s degrees and doctorates did better than their peers in only three countries, Ireland, Poland and Spain.

...The ETS study noted that a decade ago the skill level of American adults was judged mediocre. “Now it is below even that.” So Millennials are falling even further behind."
US Millennials Post Abysmal Scores in Thinking Abilities, Math, Literacy, and Technological Problem-Solving
https://www.washingtonpost.com/news/...foreign-peers/
 
Old 03-22-2016, 07:25 AM
 
Location: the very edge of the continent
88,990 posts, read 44,804,275 times
Reputation: 13693
Quote:
Originally Posted by freemkt View Post
Smart is useless when you are poor and have no money to invest.
That's where thinking skills come into play. One can be book smart but if one has no critical thinking skills, being book smart quickly disadvantages one.
 
Old 03-22-2016, 07:58 AM
 
13,510 posts, read 17,032,823 times
Reputation: 9691
Quote:
Originally Posted by petlover8 View Post
The fact of the matter is in my 63 years of living, the only people I have heard put forth such foolish arguments were in fact LIBERALS. So it has everything to do with it. It's not my fault they're full of crap. It's not as if I went out and solicited them. They were just doing what comes perfectly natural for them.
So you're first response to anything you hate or disagree with is to call it "liberal"..and you're 63 years old? I think that's a cause for some self evaluation.

"Like the frightened baby chipmunk, you are scared by anything that is different"- Jean Girard, French intellectual.
 
Old 03-22-2016, 09:01 AM
 
33,016 posts, read 27,451,622 times
Reputation: 9074
Quote:
Originally Posted by InformedConsent View Post
Tax law, which is why it's not a government expenditure.

Let's say we have a contract (there's that legality, again) in which A buys X from B for $Y.

B then enters a contract in which he sells X to to C for $Y-10.

The $10 less B collected from C is NOT an expenditure.

You seem to be saying Law Makes Right, which suggests that soaking the rich is okay as long as it is law.

That is a dangerous path to pursue.
 
Old 03-22-2016, 09:34 AM
 
Location: the very edge of the continent
88,990 posts, read 44,804,275 times
Reputation: 13693
Quote:
Originally Posted by freemkt View Post
You seem to be saying Law Makes Right, which suggests that soaking the rich is okay as long as it is law.
At least you recognize that the rich are getting soaked.

Quote:
That is a dangerous path to pursue.
We're already there.

Here's the breakdown of total effective federal tax rates, including payroll taxes, etc.:


Permission to share granted here: File:US federal effective tax rates by income percentile and component.gif - Wikimedia Commons

Data source: Average Effective Federal Tax Rates

" *Individual income tax rates for the lowest and second lowest quintiles are negative and are netted against the payroll tax rate. A quintile is one fifth of the population."
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