redkow97 Posted September 12, 2013 Report Share Posted September 12, 2013 I don't care for trust-fund kids, but that doesn't mean I have any claim to their fortunes.The estate tax was created to prevent those scenarios. The founding fathers didn't like the idea of wealth breeding "American royalty." Quote Link to comment Share on other sites More sharing options...
Tpoppa Posted September 12, 2013 Report Share Posted September 12, 2013 So you think prudent investors would stop investing in successful businesses because they might be taxed the same for those incomes as for regular incomes? and yes, I'm talking about the "effective rate" which is the "bottom line". You don't think it's a little messed up that some peoples income types are taxed less than other people's income types? ESPECIALLY those who actually "work" for their money being taxed at a much higher rate than those who just happen to bet on the right horses? Since you seem to hate the ''rich" but have a hardon for big federal government collecting our taxes...riddle me this? What do you think about the fact that the 2 highest average income counties in the entire USA just happen to surround Washington DC, and are home to many of those very same federal politicians to which you direct your man love? Quote Link to comment Share on other sites More sharing options...
magley64 Posted September 12, 2013 Report Share Posted September 12, 2013 Since you seem to hate the ''rich" but have a hardon for big federal government collecting our taxes...riddle me this? What do you think about the fact that the 2 highest average income counties in the entire USA just happen to surround Washington DC, and are home to many of those very same federal politicians to which you direct your man love?I think they should be taxed just like everyone else... I don't hate the "rich", and I'm not a big fan of paying taxes, but if I'm paying a percentage of my income, why should those with more get to duck their civic responsibilities?Cause they can afford a better tax accountant? GTFO Quote Link to comment Share on other sites More sharing options...
magley64 Posted September 12, 2013 Report Share Posted September 12, 2013 (edited) You're blaming the wrong person. Loopholes will be exploited. Blame the law makers. It their fault. You can't offer a tax break and then come down on someone for utilizing it. That's shifty and pathetic. I didn't offer the loophole, the wealthy persons who purchased the politicians did... I'm a big fan of Elizabeth Warren... I wish I could have voted for her... Edited September 12, 2013 by magley64 Quote Link to comment Share on other sites More sharing options...
Bad324 Posted September 12, 2013 Report Share Posted September 12, 2013 I've used two tax loopholes since I was in college and I've never given a dime to the crooks you guys call politicians. So tell me how I bought those loop holes? Quote Link to comment Share on other sites More sharing options...
magley64 Posted September 12, 2013 Report Share Posted September 12, 2013 I've used two tax loopholes since I was in college and I've never given a dime to the crooks you guys call politicians. So tell me how I bought those loop holes? Thank the Koch Brothers... Quote Link to comment Share on other sites More sharing options...
Gump Posted September 12, 2013 Report Share Posted September 12, 2013 So you think prudent investors would stop investing in successful businesses because they might be taxed the same for those incomes as for regular incomes?and yes, I'm talking about the "effective rate" which is the "bottom line". (you made 40,000, you paid $8,000 or 20%) or (you made 10,000,000, you paid 1,500,000 or 15%)yes 1,500,000 is more than 8,000, but 20% is still more than 15%You don't think it's a little messed up that some peoples income types are taxed less than other people's income types?ESPECIALLY those who actually "work" for their money being taxed at a much higher rate than those who just happen to bet on the right horses? Or were lucky enough to be born into the right family?Aahhh, now I see what you're after. So, budget part of your whatever income and invest correctly and u have the same opportunity. To wish capital gains tax to be higher is stupid. Maybe the tax should be lower for the less fortunate, less smarter, less harder working, and less lucky, so they can catch up. Quote Link to comment Share on other sites More sharing options...
Bad324 Posted September 12, 2013 Report Share Posted September 12, 2013 Thank the Koch Brothers...They haven't given me any money so id be more likely to tell them to give me money instead Quote Link to comment Share on other sites More sharing options...
Tpoppa Posted September 12, 2013 Report Share Posted September 12, 2013 Capital gains are simply not earned income as defined by the IRS. It's the appreciation of money already earned and already taxed. If I am smart enough not to piss all my money away, and manage to invest it wisely enough to get a return...I should be rewarded. Quote Link to comment Share on other sites More sharing options...
magley64 Posted September 12, 2013 Report Share Posted September 12, 2013 Aahhh, now I see what you're after. So, budget part of your whatever income and invest correctly and u have the same opportunity. To wish capital gains tax to be higher is stupid. Maybe the tax should be lower for the less fortunate, less smarter, less harder working, and less lucky, so they can catch up.it already is lower for the less harder working... that's the main bitch... Quote Link to comment Share on other sites More sharing options...
Tpoppa Posted September 12, 2013 Report Share Posted September 12, 2013 LoL.. it's the evil rich people.. not the politicians. Wait... what? http://www.moneychoice.org/rich-congress/If magdor is worried about non-hard-working-people that are cheating the system, here is their all star team. Quote Link to comment Share on other sites More sharing options...
magley64 Posted September 12, 2013 Report Share Posted September 12, 2013 If magdor is worried about non-hard-working-people that are cheating the system, here is their all star team. Yes, too many congressmen/women earn too much money, and on top of it, spend their time writing laws to bring home money for pet projects instead of focusing on what will improve the quality of the life for citizens of the country.. It's screwed up, congress should not get to dictate their own pay... Quote Link to comment Share on other sites More sharing options...
jbot Posted September 12, 2013 Report Share Posted September 12, 2013 magley and i had a big long conversation about how he believes that generally, rich people are less hard working than non-rich people. i still think he's wrong, and that i'm still right (always always right. always) but whatevers. i only like to partake in big long debates about a topic only once or twice at the most. after the first time, i think i just end up suggesting suicide as a viable option for whatever stupid face i'm talking to. Quote Link to comment Share on other sites More sharing options...
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