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Old 05-28-2016, 10:11 AM
 
Location: the very edge of the continent
88,713 posts, read 44,496,734 times
Reputation: 13593

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Quote:
Originally Posted by lilyflower3191981 View Post
Don't mean to argue, but please explain how does this work.

Your income tax bracket should be 39.6%, not 14%
If ALL the income was from capital gains, some would be taxed at 15%, and any capital gains income above $400,000 would be taxed at 20%. The 39.6% tax bracket is applied to earnings that are not from capital gains.

The Federal Government encourages investment in the US economy by taxing gains earned on invested money that has already been taxed at 15-20%. Also, gains earned from tax-exempt muni bonds, etc., would not be taxed at all. That could also lower an effective federal income tax rate.

Why aren't muni bonds taxed? Two reasons:

1) They're lower yield than other investments so the tax-free status makes them more attractive to investors.
2) It's actually the local, city, township, county, school district, park district, etc. taxpayers who pay the interest on the muni bonds, so it lowers costs for such agencies to fund major capital improvement projects like a school expansion, local park facilities, city hall expansion, etc.
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Old 05-28-2016, 10:13 AM
 
Location: Transition Island
1,679 posts, read 2,537,416 times
Reputation: 721
Please get back to the topic of young people, not all these posts about taxes. Use your inbox for that!
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Old 05-28-2016, 10:23 AM
 
Location: the very edge of the continent
88,713 posts, read 44,496,734 times
Reputation: 13593
Quote:
Originally Posted by LearnMe View Post
Back up the bus! Are you now suggesting that progressive taxes is unconstitutional?
Yes, it violates the equal protection clause.
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Old 05-28-2016, 10:24 AM
 
19,573 posts, read 8,472,177 times
Reputation: 10096
Thanks, Barack.
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Old 05-28-2016, 11:04 AM
 
Location: the very edge of the continent
88,713 posts, read 44,496,734 times
Reputation: 13593
Quote:
Originally Posted by LearnMe View Post
Back up the bus! Are you now suggesting that progressive taxes is unconstitutional?
Yes, it violates the equal protection clause.

Quote:
Might ask your question in reverse...

Why should one person earn multi-millions of dollars working as hard as they can while a day-laborer makes only $10/hour working as hard as they can? Is the person making millions of dollars in one year that many million times more entitled to ALL that money over the day-laborer?
Difference in value of labor supplied. Does a fast food employee earn as much as a neurosurgeon? No. Why do you think that is?

Quote:
Is the majority stock holder of Safeway entitled to all that food stamp revenue funneled into Safeway supermarket operations? Maybe yes, maybe no, but regardless the opinion, how "fair" is it that the rich get richer while the poor get nowhere? Year after year after year...
Please... Safeway has a profit margin of 0.31%. Every $100 in food stamps spent at Safeway yields a whopping $0.31. Yep 31 cents, and could actually be lower now.

Grocery stores in general only have a 1% profit margin.

What Is the Profit Margin for a Supermarket? | Chron.com

I'm guessing you have no clue what costs are involved in running a business?

Quote:
Maybe "fair" as well that someone like Trump is a billionaire and maybe also fair his daddy gave him a million dollars and a launch into real estate development in NYC while he was still in his twenties -- maybe that's "fair," but that Trump and those so "fairly" privileged not AT LEAST pay a progressive tax rate? Maybe a tad bit higher than Romney did on $14 million earned in one year?
Why? They're getting no more than the person paying several thousands or even hundreds in taxes.
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Old 05-28-2016, 11:20 AM
 
Location: Tennessee
37,761 posts, read 40,870,361 times
Reputation: 62051
If their parents kicked them out of the nest they'd learn how to fly by necessity. They would get roommates. They would get a job so they could eat and pay bills. They may not live in a good apartment or the best part of town, maybe they can't afford their electronics or cable but that would only give them the incentive to improve themselves and make more money.

These would be the same parents that made excuses for them all through school.

Frankly, if someone interviewed with me for a job out of college and I found out they hadn't worked before, I wouldn't hire them.
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Old 05-28-2016, 11:53 AM
 
Location: the very edge of the continent
88,713 posts, read 44,496,734 times
Reputation: 13593
Quote:
Originally Posted by LauraC View Post
If their parents kicked them out of the nest they'd learn how to fly by necessity. They would get roommates. They would get a job so they could eat and pay bills. They may not live in a good apartment or the best part of town, maybe they can't afford their electronics or cable but that would only give them the incentive to improve themselves and make more money.

These would be the same parents that made excuses for them all through school.

Frankly, if someone interviewed with me for a job out of college and I found out they hadn't worked before, I wouldn't hire them.
I think that's happening to a lot of them, and for some reason, that's coming as a surprise.

I'm not really sure why so many college kids don't get it. Mine went to Big 10 schools (we're talking ~40,000 undergrads) and it was CONSTANTLY pounded in their heads that working summer internships or co-op work/study programs in their field was THE best way to look attractive to employers after graduation. Many just continue on full time in those companies after graduation.

Maybe too many John and Jane Suburbians went to small trendy liberal arts schools, got degrees in liberal arts fields with low employment demand, and their schools were stuck so high up in their ivory towers that admin and faculty were ill-equipped to prepare their grads for the REAL world.

I know a lot of people hate the idea of big state flagship universities, but they're damned good at career advising, hosting job fairs, inviting major corporations from all over the country to visit campus and interview students, and facilitating professional networking. And the enormous alumni-network is a HUGE plus.

We were half way around the world on a small 20 person ferry on our way to the Full Moon Party (Thailand resort area) in December 2012, and yep... among ALL the people from all over the world who could have been on that same boat among the other 16, one was a fellow UW Badger.
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Old 05-28-2016, 02:28 PM
 
33,016 posts, read 27,361,845 times
Reputation: 9074
Quote:
Originally Posted by InformedConsent View Post
Yes, it violates the equal protection clause.

So nonhomestead taxes are also unconstitutional?
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Old 05-28-2016, 02:30 PM
 
33,016 posts, read 27,361,845 times
Reputation: 9074
Quote:
Originally Posted by InformedConsent View Post
I think that's happening to a lot of them, and for some reason, that's coming as a surprise.

I'm not really sure why so many college kids don't get it. Mine went to Big 10 schools (we're talking ~40,000 undergrads) and it was CONSTANTLY pounded in their heads that working summer internships or co-op work/study programs in their field was THE best way to look attractive to employers after graduation. Many just continue on full time in those companies after graduation.

Maybe too many John and Jane Suburbians went to small trendy liberal arts schools, got degrees in liberal arts fields with low employment demand, and their schools were stuck so high up in their ivory towers that admin and faculty were ill-equipped to prepare their grads for the REAL world.

I know a lot of people hate the idea of big state flagship universities, but they're damned good at career advising, hosting job fairs, inviting major corporations from all over the country to visit campus and interview students, and facilitating professional networking. And the enormous alumni-network is a HUGE plus.

We were half way around the world on a small 20 person ferry on our way to the Full Moon Party (Thailand resort area) in December 2012, and yep... among ALL the people from all over the world who could have been on that same boat among the other 16, one was a fellow UW Badger.

Sounded like a crackpot political group.
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Old 05-28-2016, 02:32 PM
 
33,016 posts, read 27,361,845 times
Reputation: 9074
Quote:
Originally Posted by InformedConsent View Post
I think that's happening to a lot of them, and for some reason, that's coming as a surprise.

I'm not really sure why so many college kids don't get it. Mine went to Big 10 schools (we're talking ~40,000 undergrads) and it was CONSTANTLY pounded in their heads that working summer internships or co-op work/study programs in their field was THE best way to look attractive to employers after graduation. Many just continue on full time in those companies after graduation.

Maybe too many John and Jane Suburbians went to small trendy liberal arts schools, got degrees in liberal arts fields with low employment demand, and their schools were stuck so high up in their ivory towers that admin and faculty were ill-equipped to prepare their grads for the REAL world.

I know a lot of people hate the idea of big state flagship universities, but they're damned good at career advising, hosting job fairs, inviting major corporations from all over the country to visit campus and interview students, and facilitating professional networking. And the enormous alumni-network is a HUGE plus.

We were half way around the world on a small 20 person ferry on our way to the Full Moon Party (Thailand resort area) in December 2012, and yep... among ALL the people from all over the world who could have been on that same boat among the other 16, one was a fellow UW Badger.

That's for privileged people; I had to work multiple low-wage jobs with no financial aid.
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