Everything that's wrong with the United States of America, summed up in one graphic..

[Rumpelstiltskin]

Thanks to insanely low capital gains and dividends rates.

Capital gains may be going up. There is a reason it's low. You can't just say "it's low because the rich get rich". No, it doesn't work that way. The government isn't stupid. For example, large transactions would have to be designed and drafted to dodge it. People would be deterred from making large acquisition transactions if the taxes were any higher. Do you know how fucked we would be then? You cannot compare your 7.75% sales tax at the store, or your medi, ssi, ui, fed, state etc W2 taxes, to where cap gains is at. They are not direct comparisons.

I got hit with cap gains in 2010. I was in a 33% tax bracket. I probably pay more taxes each year than some people make as a net salary. You don't hear people like me complaining.

Go hire an attorney or a CPA if your money is at stake. That's what people do.

Remember, at the end of the day, the rich are paying way more taxes than the poor. Period end of story.

 

[radiostationrep]

Really, who gives a flying fuck? If you do, educate yourself and change it. If not, quit bitching, accept it and get over it. It is the people running our country that is the problem like everything else in this world. We, the world as a whole, are fans and supporters of the blind leading the blind....

 

[Timm]

Everything on the left is currently at risk of being cut. Nothing on the right is even being considered for cuts.

lmao, everything on the "left", get it

 

[Nebulizah]

Capital gains may be going up. There is a reason it's low. You can't just say "it's low because the rich get rich". No, it doesn't work that way. The government isn't stupid. For example, large transactions would have to be designed and drafted to dodge it. People would be deterred from making large acquisition transactions if the taxes were any higher. Do you know how fucked we would be then? You cannot compare your 7.75% sales tax at the store, or your medi, ssi, ui, fed, state etc W2 taxes, to where cap gains is at. They are not direct comparisons.

I got hit with cap gains in 2010. I was in a 33% tax bracket. I probably pay more taxes each year than some people make as a net salary. You don't hear people like me complaining.

Go hire an attorney or a CPA if your money is at stake. That's what people do.

Remember, at the end of the day, the rich are paying way more taxes than the poor. Period end of story.

Get off your high horse. We all get that you make more money than most of us -- you make it known in every other post. I'm happy for you, I really am. Congratulations. You're well taken care of in this country... WELL taken care of with tax breaks, incentives, insurance caps, and a book full of workarounds that's probably thicker than War and Peace. Don't even try to tell me I don't hear people like you complaining. I hear it every day, and I'm sure most others here do as well. Just look at the Bush tax cut debate that Obama caved on.

The fact of the matter is, the richest Americans have continually been given more and more breaks, while all we hear from the right is "We all must make some sacrifices." Well, I've YET TO SEE THOSE SACRIFICES COMING FROM RICH AMERICANS.

Just like the hypocrisy with conservatives saying "We can't force our kids to pay for our debt!" Hmmmm, let's see here... Scott Walker's promising to cut almost a billion dollars from public education funding. That's forcing our children to pay for our debt.

Or better yet, the hypocrisy from the likes of Michele Bachmann preaching against government giving out ANY type of welfare when she herself took over $250,000 in federal farm subsidies. Or how she preaches about keeping government out of our lives in general, but then goes and supports the Patriot Act. Need I go on?

The facts aren't on your side. Period.

 

[Mr. Nice Guy]

^ hey! nice job spouting off a Limbaugh talking point! Love it!

I have never listened to Limbaugh in my life.

You on the other hand, obviously have :dead:

Too bad it completely ignores the overall effective tax rate

Thanks to insanely low capital gains and dividends rates, and of course the income cap on social security which right now sits around $105,000, the richest of the rich are getting the biggest breaks of ANYBODY in this country. Just ask Warren Buffet, who pays the lowest overall tax rate of anybody in his office, even lower than his receptionist!

Pretty tough to give someone a tax break when they pay no taxes :cheeky:

 

[Timm]

 

[5-Dime NwK]

The fact that this is turning into left vs. right means you still don't get it.

All those mother fuckers are the enemy. All of them. Don't get caught up in the hype, they are working together collectively to fuck each and everyone of us.
Read.

 

[Rumpelstiltskin]

Get off your high horse. We all get that you make more money than most of us -- you make it known in every other post. I'm happy for you, I really am. Congratulations. You're well taken care of in this country... WELL taken care of with tax breaks, incentives, insurance caps, and a book full of workarounds that's probably thicker than War and Peace. Don't even try to tell me I don't hear people like you complaining. I hear it every day, and I'm sure most others here do as well. Just look at the Bush tax cut debate that Obama caved on.

The fact of the matter is, the richest Americans have continually been given more and more breaks, while all we hear from the right is "We all must make some sacrifices." Well, I've YET TO SEE THOSE SACRIFICES COMING FROM RICH AMERICANS.

Just like the hypocrisy with conservatives saying "We can't force our kids to pay for our debt!" Hmmmm, let's see here... Scott Walker's promising to cut almost a billion dollars from public education funding. That's forcing our children to pay for our debt.

Or better yet, the hypocrisy from the likes of Michele Bachmann preaching against government giving out ANY type of welfare when she herself took over $250,000 in federal farm subsidies. Or how she preaches about keeping government out of our lives in general, but then goes and supports the Patriot Act. Need I go on?

The facts aren't on your side. Period.

In no way am I trying to convey that I am on some high horse or better than anyone here. In regards of being a good human being I might be as good as scum on the sidewalk for all it matters. So I apologize if it came off that way.

Yes, people in the higher tax brackets complain as well. I agree. I tell them the same thing. More than anything they should know better. If anyone is qualified to understand why things are the way they are, it should be those guys. In some aspects they have a right to complain. The government is taking more from them just because they have more.

I justify the rich breaks like this. Let's say I generate $250. Now, the IRS wants me to give $75 of that. Now, do you honestly think I am going to bust my ass, day and night, put things on the line, and sacrifice my entire life to keep 2/3 of that? Eventually, I will stop. I will cut back and be satisfied with just making $100, so the IRS only hits me for $10. Or I will find workarounds which in the end just causes bigger problems. What INCENTIVE will an individual have if they just keep getting raped by the IRS? I know for a FACT, that if I am forced to pay anymore than I am paying, I'm done. It's enough. I will literally cash out on everything and say fuck it, and move. We are getting raped just as much as the rest of the people, please believe me.

To put my cards on the table I really don't know who Scott Walker or Bachmann is. I don't follow things like that. I am sure they are the pieces of shit that you claim for them to be. You know way more about that stuff than I do.

In the end, I really believe it's the middle class that get's hit the hardest. The poor people don't have anything. The rich people don't feel it. It effects the middle class people. They continuously shake the hell out of that section and I think that is what is killing us.

 

[Mr. Nice Guy]

I justify the rich breaks like this. Let's say I generate $250. Now, the IRS wants me to give $75 of that. Now, do you honestly think I am going to bust my ass, day and night, put things on the line, and sacrifice my entire life to keep 2/3 of that? Eventually, I will stop. I will cut back and be satisfied with just making $100, so the IRS only hits me for $10. Or I will find workarounds which in the end just causes bigger problems. What INCENTIVE will an individual have if they just keep getting raped by the IRS? I know for a FACT, that if I am forced to pay anymore than I am paying, I'm done. It's enough. I will literally cash out on everything and say fuck it, and move. We are getting raped just as much as the rest of the people, please believe me.

What you just described is called the Laffer Curve.

http://en.wikipedia.org/wiki/Laffer_curve

It's a graphical representation of the income generated by a particular tax rate.

 

[Rumpelstiltskin]

What you just described is called the Laffer Curve.

http://en.wikipedia.org/wiki/Laffer_curve

It's a graphical representation of the income generated by a particular tax rate.

Damn, that's genius.
I seriously had no idea that existed. I was just speaking from my standpoint and how I would react. How most people would naturally react. Come to find there is some study on it.

Thanks for pointing that out.
Trip...

 

[Nuttkase]

Seriously, fuck all of you.

 

[Rumpelstiltskin]

Taken from that wiki link.

"Real-world practice in the Republic of Ireland has shown that the optimal rate for capital gains tax, as opposed to income tax, may be around 20%, but this is at least partly due to savvy taxpayers holding onto assets in anticipation of tax rates being lowered in the future."

People are always criticizing CG tax. 20% is a substantial amount of money from an investment perspective. Let's say I put up a million dollars. Now, investment just rose by 50%. First off, 50% is a GREAT return. These days you are lucky to earn anywhere near 10% a year, unless you hit a niche. Hell, CD's are paying half a percent. Let alone you are lucky if you don't LOSE money as well. What happens if it drops 40%? You just lost 400K.

Back on track, your 1 million now has a cash out value of 1.5 million.
If you cash out you are getting hit on the entire 1.5
You are now facing a $300,000 tax. That's 20%. You make out with 200K net which is 20% of your initial investment.

You just risked 1 million, made it grow by 50%, and only get to keep 20% of it. Imagine going to the casino and placing $100 on black, hitting, then getting back something like $130. Crazy right?

Go ahead, raise my capital taxes. You will then watch my money sit in the bank and do absolutely nothing for the country other then feed myself.

Long story short, the US is smart enough not to touch CG taxes. It's a quick way to take from rich people, but wealthy people didn't get there being morons. Sure, take it for 2011. Just don't expect your new policy to have the same effect in 2012. You may see LESS than what you saw in 2010.

 

[ALL BOUT CHICKEN]

here's everything and the only thing right with this thread.








tiddies.

 

[mocheezkc]

 

[gay-active]

here's everything and the only thing right with this thread.








tiddies.

I really wanted to prop you......












Till I saw that flic, no can do.......

 

[LiterACola]

liberals are mostly obnoxious. get a job.

Bill Maher isn't a source

 

[5-Dime NwK]

edit.
Fuck it.
Dude is dumb.