Here is a picture of it:
You can ignore it, but it does no't go away.
Posted on 07/20/2011 4:15:35 PM PDT by Slyscribe
The key to the Senate Gang of Six deficit-cutting grand bargain is the combination of higher tax revenue with lower tax rates.
The former makes Democrats swoon and Republicans are sweet on the latter.
The first date was a hit, with a surprising number of senators declaring their everlasting love and President Obama giving it his blessing on Tuesday. But just how much do the two sides know about their partner?
(Excerpt) Read more at investors.com ...
Capital gains tax, taxes on interest and dividends and estate tax should all be abolished.
The rich will get richer, the poor will get poorer....
And us poor bastards will get stuck with the bill... Again.
Just wait - they’ll have to go to a tax rate of 119% to pay for the deficit.
What tax bracket were you in the highest rate now for the ‘rich’ is 36%. It was 39.5% under Clinton. 15% is the rate up to around $35,000 adjusted income,deductions, etc. How much were you bringing in?
As far as your class warfare BS, you may want to look for a different forum.
You forgot about payroll tax. Feds never forgot about payroll tax. :/
As far as your class warfare comment. The Cold War was a class war the US fought and won.
NAFTA wasn’t passed during the Cold War nor was the capital gains tax rate dropped to 15%. Why? Cause that giant sucking sound would have lost us the Cold War.
During the Cold War (US) capitalism had a simple direct winning sell point, to working wo\men; we will pay you for an honest day’s work, those (USSR) commies wont.
We need to get back to our capitalist roots. If that means fighting and winning another class war. This time with the lazy sloth investment class who wants to pay 15% tax while the working man pays double that. Game on.
Absolutely not. Wait until I dump mine first...
Cool. So you are on the record for higher taxes. That is completely inconstant with this forum, and the conservative philosophy. You think the government confiscating more is going to help all these employees make more money? As far as i observe, the tax burden on lower brackets is lower than ever as there are so many credits and breaks that nearly half pay nothing.
Payroll taxes are out of control for employers as well, so long before someone pays their capital gains tax, they have been paying for years for each employee they hire. A low capital gains tax is good. It should be lower, or gone completely to help spur much needed growth. I’d rather focus on lowering all taxes than somehow justifying raising this rate out of ‘fairness’.
The only people that should be seeing a higher tax rate are the freeloading deadbeats that pay no income tax at all. Let’s put a 10% minimum income tax on ALL income, and get rid of the so-called “earned income credit” which is nothing but welfare.
The typical McDonald's employee pays NO federal income tax at all, and many get an "earned income credit" welfare check as well. Precious few of them, most likely managers, dip into the lowest marginal tax bracket.
Payroll tax is not federal income tax. It's a separate issue, and one which also needs to be dealt with.
We need to get back to our capitalist roots. If that means fighting and winning another class war. This time with the lazy sloth investment class who wants to pay 15% tax while the working man pays double that. Game on.
Wow - there's a liberal in the woodpile. When 47% of the wage earners in this country pay NO FEDERAL INCOME TAX AT ALL, how do you come up with the idea that the "working man" pays double the income tax that the investment class pays? The facts don't agree with you.
I’m an advocate for lower income and payroll taxes. As I said in my original response to you, income and payroll taxes taxes need to come down to be on par with capital gain tax. Or capital gain tax need to come up to be on par with income and payroll tax. Your response was “apples and oranges.”
As a youth growing up during the Cold War.. The (US) capitalist message was loud and clear plus inspiring, work hard you will be rewarded. For those who grew up during the Cold War we read news stories about how (Soviet) commie elite lived lavishly in Dachas off the backs of their hard working comrades.
Replace commie elite with investor class, same story.
Daytraders pay more than 15% on profits -when they profit.
The “working class” (Marxist term) does not pay 30% federal income tax.
Anyone working at McDonalds will pay much less than 15% after deductions and is qualified for such things as SNAP, WIC, etc.
3 strikes, you’re out!
Here is a picture of it:
You can ignore it, but it does no't go away.
don’t worry - under the Obama administration real estate and the stock market have both done poorly enough that there will be no capital gains to tax— so this isn’t really a tax increase. I only wish this was /s
Agree. They are all double taxation. The money put into those investments had already been taxed.
Populists like yourself, fail to realize that your belief system is closely related to Marxism.
Those “Capital Gains” taxes are made on money that has already been taxed. The holder of those fees also pays regular income taxes on that income, at normal rates at the end of the year. The “Capital Gains” tax is an added tax, on top of all other taxes, obligated by the investor.
This stupidity will guarantee the markets to decline dangerously. After the markets crash, you will undoubtedly be overjoyed, but it is those markets that indicate Industrial and economic health. This economy cannot do well with out the market. Investor money is how they are supported and financed.
OK Game on. What about this lazy sloth who is part of the reviled rich (hubby and I together make just over the limit that Obama considers rich) To qualify for “rich status” hubby and I both work > 80 hours per week at times. We frequently put in 14 hour days, and we work nights, holidays and weekends. Slothful, huh.
Last year we paid over 100K in federal taxes. We currently have 2 kids in college to the tune of 80K per year without any financial aid, because we are “rich” Lazy, huh
Being responsible and conservative adults, we are saving for our retirement. We have no illusions we will receive any social security, etc... In order to save for our retirement, we have invested heavily in our 401ks
So I guess that makes us part of the horrible investment class. After paying the highest tax rate, and over 100K last year in federal taxes, just how much more would you like me to pay in capital gains on my well earned investmeents????
I would say those who pay no taxes and live on Obama money are slothful, not those who actually EARN a living.
“Payroll tax is not federal income tax. It’s a separate issue, and one which also needs to be dealt with. “
It’s a separate issue, to you, not to me.
We have a joke of a tax-code that presently rewards this lazy message “let your money work for you” and you will pay less in taxes then the man who actually has to work for a living.
How has this message worked for the US? We have more US Debt now, than we did during the Cold War.
What is the difference? Back then hard work was rewarded plus supported in our US Tax code. Today it is not. You are a sucker if you work hard, that’s been the message since Clinton’s “we are a consumer based economy,” translation.. sit, relax, buy stuff. Not exactly an inspiring Reagan “tear down this wall” message.
As a country we either get back to our capitalist roots. Or the result will be an increasingly lost vulnerable young generation coming up who thinks hard work is tweeting. :/
“Arise, ye prisoners of starvation....”
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