Raising Taxes On The Rich Would Reduce Income Inequality

1% of the people derive 75% of the benefit from capital gains tax policy.

that's a fact.

If the poor guy with a 90 IQ and a job pushing a broom only saved more of his meager salary, he could drive a Rolls Royce too!
 
Slip the kids and grandkids a little something all year round but especially at Christmas....they need it now more anyway and the lower the inheritance, the lower the
tax bite.
 
maineman said:
1% of the people derive 75% of the benefit from capital gains tax policy.

that's a fact.

If the poor guy with a 90 IQ and a job pushing a broom only saved more of his meager salary, he could drive a Rolls Royce too!
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So what......100 % of the people on welfare derive 100% of the benefit from that policy.

Don't knock the guys with 90 IQ...look where it got you and the Dude and Zappa...

The top 10 percent of taxpayers paid over 70% of the total amount collected in federal income taxes in 2010


The remaining 90% bore just under 30% of the tax burden.

And 47% of all Americans pay nothing or hardly anything at all.
 
maineman said:
1% of the people derive 75% of the benefit from capital gains tax policy.

that's a fact.

If the poor guy with a 90 IQ and a job pushing a broom only saved more of his meager salary, he could drive a Rolls Royce too!
Click to expand...
So you accept that those of humbler means could chose to invest more and alter that equation. Thats impkrtent. Of course they will not i most instances but there are others that do and cease being of humble means. You dont gave to be the ejvy kf MENSA to cook good food etc and there are many who have traded hard work and sacrifice for a better life for those they love.
 
NOVA said:
Capital gains and dividend income is taxed equally for everyone no matter the income....totally just and fair. Just as goods cost the same for everyone and not priced
according to ones income....

It is only marginal rates that single out certain wage earners for higher, unjust tax rates.....we should be free to earn whatever we can, without be punished with
some punitive tax rate for success....

The principle where individuals receive compensation proportional to the amount of labor and talent they contribute to production is true in capitalism and yes, even socialism....

thats what makes this subject of "income inequality" so ridiculous......

its a manufactured problem whose sole purpose is to breed class warfare.


I be interested in hearing what tax loopholes are only available for certain income individuals and at what incomes do they kick in....
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Your fucking stupid bravo, the capital gains tax comment is wrong
Retirees under 25 percent bracket don't pay capital gains tax
Deck mopper
 
maineman said:
You are wrong about the step up in basis....google it if you need to.
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Whats your point.....thats great for us in the middle class have homes valued at 2 or 3 hundred thousand, we don't have homes valued at 5 or 8 or 10 million like the rich....

Most of us will never meet that threshold to be taxed that the richest estates are taxed at....
 
The Dude said:
Your fucking stupid bravo, the capital gains tax comment is wrong
Retirees under 25 percent bracket don't pay capital gains tax
Deck mopper
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Ahhh .... the 90 IQ has spoken....
but there are different rates for different income brackets...
10 to 15% bracket will in many, if not all cases not pay any c. gains tax...dude probably has personal experience in this bracket...

but the dude has a point that mm might want to hear....the poorer you are the more likely you won't be taxed for c gains like the rest of us...
so,"technically" , I was wrong in flatly saying Capital gains and dividend income is taxed equally for everyone no matter the income, the laws have changed recently...

Good work dude, you're proof that even a stopped clock is right twice a day
 
NOVA said:
Whats your point.....thats great for us in the middle class have homes valued at 2 or 3 hundred thousand, we don't have homes valued at 5 or 8 or 10 million like the rich....

Most of us will never meet that threshold to be taxed that the richest estates are taxed at....
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nor have the chance to use the step up basis rule to avoid paying boatloads of capital gains taxes.... The tax code is rigged to make the rich richer and you support it.
 
maineman said:
nor have the chance to use the step up basis rule to avoid paying boatloads of capital gains taxes.... The tax code is rigged to make the rich richer and you support it.
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Seems to me you don't understand what the hell the step up basis means....everyone and anyone that inherits a stock uses it...

when an asset is passed on to a beneficiary, its value is more than what it was when the original owner acquired it. The asset therefore receives a step-up in basis so that the beneficiary's capital gains tax is minimized - because it is not based on the increase in value from the original purchase price.


if a beneficiary inherits a house that cost the decedent $50,000 but on the date of the decedent's death the house had a fair market value of $100,000, then the beneficiary receives a step up in the original cost basis from $50,000 to $100,000. If the beneficiary then turns around and sells the property for $100,000, then the beneficiary will not owe any capital gains taxes.

That is great for your kids, fool....it saves your kids from paying a big tax on the home you leave them....

When calculating the value of a gross estate for federal estate tax purposes, there are two different values that can be used: the "date of death" value and the "alternate valuation date” value.

you don't even have to file with the feds if the estate is under about 5 million

Only the rich get stuck paying the tax.....
 
NOVA said:
Ahhh .... the 90 IQ has spoken....
but there are different rates for different income brackets...
10 to 15% bracket will in many, if not all cases not pay any c. gains tax...dude probably has personal experience in this bracket...

but the dude has a point that mm might want to hear....the poorer you are the more likely you won't be taxed for c gains like the rest of us...
so,"technically" , I was wrong in flatly saying Capital gains and dividend income is taxed equally for everyone no matter the income, the laws have changed recently...

Good work dude, you're proof that even a stopped clock is right twice a day
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My iq is twice yours. You were wrong big time.
Why did you piss on the gi bill!
Taker
 
The Dude said:
Get to work gramps
The fact that you still need to work says your limited
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That would be "you're limited."

"Limited" appears to best describe your spelling.

So while I depart for my six figure salary, to bolster my seven figure assets, isn't it time for you to go join your daily circle of 40 ouncer aficionados?
 
Taft2016 said:
That would be "you're limited."

"Limited" appears to best describe your spelling.

So while I depart for my six figure salary, to bolster my seven figure assets, isn't it time for you to go join your daily circle of 40 ouncer aficionados?
Click to expand...

Take your gerital and have fun at work. I'll be at the country club.
 
The Dude said:
Take your gerital and have fun at work. I'll be at the country club.
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I'm not sure how to spell "gerital," but I'm fairly certain you got that wrong too.

I've never heard 4 milk cases, in the alley alongside the 7-11, with 4 sunburned drunks sitting on them, described as a "country club" before.

Then again, we obviously move in different circles.
 
Taft2016 said:
I'm not sure how to spell "gerital," but I'm fairly certain you got that wrong too.

I've never heard 4 milk cases, in the alley alongside the 7-11, with 4 sunburned drunks sitting on them, described as a "country club" before.

Then again, we obviously move in different circles.
Click to expand...

We sure do, you are a ny janitor
I'm retired, all my friends are millionaires too
 
NOVA said:
Whats your point.....thats great for us in the middle class have homes valued at 2 or 3 hundred thousand, we don't have homes valued at 5 or 8 or 10 million like the rich....

Most of us will never meet that threshold to be taxed that the richest estates are taxed at....
Click to expand...

The rich don't pay tax - they pay accountants.
 
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