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There's nowhere to apply any math. You've posted no proof whatsoever that you pay a higher effective federal income tax rate. You're just babbling on and on because you know you're wrong, and you're embarrassed. /shrug
As I said, I'm not going to post my tax return if that's what you want. I'm not elected official and not running for office
I gave you a simple example, you went on with your usual deflections and distractions. The point is this, due to a loophole, humongous compensations for services (aka salary) are taxed at capital gains rates INSTEAD of the regular income tax rates. So a salary of 1 billion dollars can be taxed at approximately 23.8%. If you still don't understand, it would be difficult to help you.
P.S. Btw, why don't you double the income (assume salary) in my example. See what the effective rate you will get, don't add any other taxes. Do you think it will be lower than those 23.8% above? . And don't start another round of deflections, about deductions and what not. Yes, you can donate 1/2 of your salary, then the rate will be different. That's not the point.
First of all it is 20% (+3.8%) at high enough income.
Second, no, I cannot. See for most people, compensation is subject to regular income tax rates. But apparently some are more equal than others. The discussion was about the carried interest loophole which basically subjects compensation for services to capital gains rates instead of the regular income tax rates. Get it now?
You can. Just make sure all your incomes are from long-term capital gain. That option is available to all of us.
As I said, I'm not going to post my tax return if that's what you want. I'm not elected official and not running for office
I gave you a simple example, you went on with your usual deflections and distractions. The point is this, due to a loophole, humongous compensations for services (aka salary) are taxed at capital gains rates INSTEAD of the regular income tax rates. So a salary of 1 billion dollars can be taxed at approximately 23.8%. If you still don't understand, it would be difficult to help you.
P.S. Btw, why don't you double the income (assume salary) in my example. See what the effective rate you will get, don't add any other taxes. Do you think it will be lower than those 23.8% above? . And don't start another round of deflections, about deductions and what not. Yes, you can donate 1/2 of your salary, then the rate will be different. That's not the point.
Frankly, I don't see the point of discussing all this nonsense.
Why can't a person keep the fruit of his own labor? Why should anybody be forced to pay a higher rate or a higher amount?
Get rid of both income and corporate taxes, and implement a sales tax or VAT.
You’re not funding my lifestyle and my comment is truthful.
Not you specifically.
If people the income is being confiscated, at least everybody should be forced to pay the same AMOUNT. 50% of Americans don't pay jack squat, yet they receive virtually all the benefits and welfare.
Doesn't that mean people are being forced to pay for the lifestyles of at least 50% of Americans?
Forgo your salary and ensure all your incomes are long-term capital gain just like those hedge fund managers you hate so much.
Not sure why this is difficult to do.
Lol, that's deep. So everybody should forgo their jobs and rely on capital gains. So simple, you will probably be nominated for nobel prize in economics soon.
And only the fund managers will keep working and paying capital gains taxes on their salaries. Lol.
Holy Crud! They want to raise taxes back to 29% on incomes above $400,000/yr for individuals. Then they want to spend the money building bridges, roads and other infrastructure. On top of that they want to fund education and children's food programs.
Lol, that's deep. So everybody should forgo their jobs and rely on capital gains. So simple, you will probably be nominated for nobel prize in economics soon.
And only the fund managers will keep working and paying capital gains taxes on their salaries. Lol.
Why can't you? The fund managers can do it according to you. Why can't you?
Why can't you? The fund managers can do it according to you. Why can't you?
No, it's not according to me, it's according to the current tax law. And according to the same law I can't do it and neither can you. Reading comprehension is important.
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. And don't start another round of deflections, about deductions and what not. Yes, you can donate 1/2 of your salary, then the rate will be different. That's not the point.
