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Posted: 4/24/2024 10:36:55 AM EDT
[#1]
Quote HistoryOriginally Posted By FALARAK: Disingenuous article and discussion. While we all know that taxation = theft. But................. The ultra wealthy often do not have earned income. Often, all their income is from capital gains. Capital gains has a maximum tax rate of 20%, while working people have a rate of up to 37% (soon to be 39.6% again) on earned income. The proposal here, is to make capital gains taxes match earned income taxes on gains OVER $1 million dollars in a year. I do NOT subscribe to any sort of "eat the rich" mentality, and I personally benefit from lower capital gains rates every single year, but this proposal makes good sense to me. I have always felt the lower capital gains tax favored the ultra-wealthy disproportionally to the majority of taxpayers. The REASON this is lower is because of the power the wealthy have over Congress. The current tax system absolutely favors the very wealthy, and with lower capital gains tax rates combined with a step up in cost basis at inheritance, this ensures wealth grows in the upper 1% and allows the middle class to be slowly destroyed that much faster, as the net worth spread increases between the classes. I'd MUCH prefer seeing tax benefits directed at the middle class, to help this class of people prosper, or just see a flat tax across the board for all. This proposal is making taxes "flatter", so if you are a fan of the flat tax, that is exactly the direction this proposal is going. The problem is, so many of you just see anything from Biden as wrong, or any discussing on a tax increase as wrong...... without actually applying critical thinking skills. The top 5% pay more taxes than everyone else combined....leave them alone, they're paying plenty (and I don't even have any capital gains to tax). The "middle class" sucks with money. Lots pay NO taxes and they're still broke. |
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TX, USA
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Posted: 4/24/2024 10:37:35 AM EDT
[#2]
Is that so we can send more to other countries and give undeserving students a free ride?
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Posted: 4/24/2024 10:37:40 AM EDT
[#3]
Well, doesn't the biggest government in the world deserve the highest tax rates in the world?
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Posted: 4/24/2024 10:37:59 AM EDT
[#4]
Quote HistoryOriginally Posted By laxman09: You sure about that? They just sent billions to other countries even though they said they would have to have border reform done first. Exactly. They would pass it in a heartbeat. Probably wouldn't even read it first. |
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MI, USA
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Posted: 4/24/2024 10:38:23 AM EDT
[#5]
Quote HistoryOriginally Posted By Gator: Geezus, almost every day he has to come up with something to hate him more. FJB. Of course they'll be loopholes for his buddies. He'll win the election becoming the first president to get over 6 billion votes. |
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Posted: 4/24/2024 10:38:30 AM EDT
[Last Edit: The_Master_Shake]
[#6]
Quote HistoryOriginally Posted By laxman09: You sure about that? They just sent billions to other countries even though they said they would have to have border reform done first. This. Wouldn't surprise me in the least after what just passed |
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Posted: 4/24/2024 10:38:57 AM EDT
[#7]
I have nothing coc compliant to say.
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Posted: 4/24/2024 10:41:36 AM EDT
[Last Edit: VidaEterna]
[#8]
We’re in this together. Your “elected” representatives authorized all of this spending through the years. The bill is due. It’s time for you to pay. Arguing over wether your steak was worth it after you consumed it is silly, isn’t it.
Some of you here voted for this. Don’t whine. The party of baby killers, gun confiscation, beelzebub, and HIGH taxes; what do you expect? People nashing their teeth that voted for this make lol.  SISTER SLEDGE - WE ARE FAMILY (1979) OFFICIAL VIDEO |
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CO, USA
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Posted: 4/24/2024 10:42:25 AM EDT
[#9]
Quote HistoryOriginally Posted By FALARAK: Disingenuous article and discussion. While we all know that taxation = theft. But................. The ultra wealthy often do not have earned income. Often, all their income is from capital gains. Capital gains has a maximum tax rate of 20%, while working people have a rate of up to 37% (soon to be 39.6% again) on earned income. The proposal here, is to make capital gains taxes match earned income taxes on gains OVER $1 million dollars in a year. I do NOT subscribe to any sort of "eat the rich" mentality, and I personally benefit from lower capital gains rates every single year, but this proposal makes good sense to me. I have always felt the lower capital gains tax favored the ultra-wealthy disproportionally to the majority of taxpayers. The REASON this is lower is because of the power the wealthy have over Congress. The current tax system absolutely favors the very wealthy, and with lower capital gains tax rates combined with a step up in cost basis at inheritance, this ensures wealth grows in the upper 1% and allows the middle class to be slowly destroyed that much faster, as the net worth spread increases between the classes. I'd MUCH prefer seeing tax benefits directed at the middle class, to help this class of people prosper, or just see a flat tax across the board for all. This proposal is making taxes "flatter", so if you are a fan of the flat tax, that is exactly the direction this proposal is going. The problem is, so many of you just see anything from Biden as wrong, or any discussing on a tax increase as wrong...... without actually applying critical thinking skills. IDGAF. Capital gains taxes are immoral….even for rich people. |
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KY, USA
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Posted: 4/24/2024 10:42:47 AM EDT
[#10]
Quote HistoryOriginally Posted By macro: I have nothing coc compliant to say. I have nothing to add to what you just said. |
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Posted: 4/24/2024 10:42:47 AM EDT
[#11]
Im not a financial genius, not even financially smart
Do Trust have to pay capital gains tax? If not, put everything in a trust |
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Posted: 4/24/2024 10:43:17 AM EDT
[#12]
Quote HistoryOriginally Posted By MeInMediocrity: A tax on capital gains is like a tax on inflation (mostly). Absolutely this |
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MI, USA
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Posted: 4/24/2024 10:43:21 AM EDT
[Last Edit: ArmyInfantryVet]
[#13]
Quote HistoryOriginally Posted By Notcalifornialegal: He can call for it all he wants. That would never pass the House. Yea, it's theater |
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SC, USA
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Posted: 4/24/2024 10:43:29 AM EDT
[#14]
Quote HistoryOriginally Posted By sjm1582002: Well, doesn't the biggest government in the world deserve the highest tax rates in the world? https://taxfoundation.org/wp-content/uploads/2021/07/Top-combined-capital-gains-tax-rate-under-Biden-Tax-Plan-Biden-Capital-Gains-Tax-Rate-OECD.png UKR seems to have an 18% capital gains tax. Maybe they should go to 44% to fund their war effort. |
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KY, USA
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Posted: 4/24/2024 10:44:10 AM EDT
[#15]
Quote HistoryOriginally Posted By tboesche: Im not a financial genius, not even financially smart Do Trust have to pay capital gains tax? If not, put everything in a trust That won't help your tax situation. Unfortunately. |
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Posted: 4/24/2024 10:45:26 AM EDT
[#16]
Quote HistoryOriginally Posted By 8nbait: This "info" is all coming from a single web site. Has to be true. https://www.kiplinger.com/taxes/biden-calls-for-doubling-capital-gains-tax-rate |
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Posted: 4/24/2024 10:51:13 AM EDT
[#17]
Quote HistoryOriginally Posted By Wammel: Between the "never trumpers", "principled conservatives", and "voting dosen't matter" crews it stands a reasonable chance next year. Quote HistoryOriginally Posted By Wammel: Originally Posted By Notcalifornialegal: He can call for it all he wants. That would never pass the House. Between the "never trumpers", "principled conservatives", and "voting dosen't matter" crews it stands a reasonable chance next year. You left out the uniparty people. Wait…are they the same as the “voting doesn’t matter” crowd? Some people think we live in a black and white world. Life is seldom that simple. |
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Posted: 4/24/2024 10:57:09 AM EDT
[#18]
I call for that dementia addled cocksucker and his commie ilk to go fuck themselves.
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PA, USA
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Posted: 4/24/2024 10:57:41 AM EDT
[#19]
It would pass. Capital gains are only for the obscenely wealthy. And they must pay their fair share. No normal person even has to worry about that tax. Object and you have outed yourself as a selfish racist.
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Posted: 4/24/2024 10:57:53 AM EDT
[#20]
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FL, USA
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Posted: 4/24/2024 11:01:10 AM EDT
[Last Edit: Pallas]
[#21]
Quote HistoryOriginally Posted By stevelish: IDGAF. Capital gains taxes are immoral….even for rich people. Quote HistoryOriginally Posted By stevelish: IDGAF. Capital gains taxes are immoral….even for rich people. I agree... If anything, CapGains should be a flat 10%. Then they threw in the BS ObamaCare tag on of 3.8%, which is horseshit. Originally Posted By tboesche: Im not a financial genius, not even financially smart Do Trust have to pay capital gains tax? If not, put everything in a trust Yes, the trust pays taxes. A trust (depending on the trust) protects assets from things like lawsuits and estate taxes. But, the trust still pays yearly taxes, unless it hasn't made any gains/income. You may also be required to pay individual taxes on distributions from the trust. |
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CO, USA
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Posted: 4/24/2024 11:08:51 AM EDT
[#22]
Quote HistoryOriginally Posted By Pallas: I agree... If anything, CapGains should be a flat 10%. Then they threw in the BS ObamaCare tag on of 3.8%, which is horseshit. Yes, the trust pays taxes. A trust (depending on the trust) protects assets from things like lawsuits and estate taxes. But, the trust still pays yearly taxes, unless it hasn't made any gains/income. Zero. That money was previously taxed as income. |
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Posted: 4/24/2024 11:10:56 AM EDT
[#23]
Quote HistoryOriginally Posted By Underscore_O_Three: Inheritance tax destroys the upward mobility of the MIDDLE class. In case you haven't been watching - with currency devaluation a million dollars isn't rich anymore. The middle class very much encompasses multimillionaires. Quote HistoryOriginally Posted By Underscore_O_Three: Originally Posted By FALARAK: The middle class are not at all in scope of this proposal. Did you actually read anything? Inheritance tax destroys the upward mobility of the MIDDLE class. In case you haven't been watching - with currency devaluation a million dollars isn't rich anymore. The middle class very much encompasses multimillionaires. You are confusing income, with net worth. The removal of a step up in cost basis is only for very large estates. We can debate where that threshold should be.... but for now, this does not impact estates for 95% of the middle class. If the threshold for estate exemption is set too low, then yes..... that's a huge problem. |
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PA, USA
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Posted: 4/24/2024 11:11:12 AM EDT
[#24]
My guess is he knows he won't be in the WH by this time next year so he plans to crash the economy for Trump. Of course he didn't come up with this plan but his handlers did.
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FL, USA
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Posted: 4/24/2024 11:13:44 AM EDT
[Last Edit: Pallas]
[#25]
Quote HistoryOriginally Posted By stevelish: Zero. That money was previously taxed as income. Quote HistoryOriginally Posted By stevelish: Zero. That money was previously taxed as income. I agree with you 100%, but that would never fly. However, The principal was originally taxed as income, you don't pay cap-gains on the principal. So, that would be their argument. Originally Posted By Smash47: My guess is he knows he won't be in the WH by this time next year so he plans to crash the economy for Trump. Of course he didn't come up with this plan but his handlers did. I can 100% most assuredly tell you that the Biden Administration will be in control in the White House next year, beyond January. |
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Posted: 4/24/2024 11:14:21 AM EDT
[#26]
Quote HistoryOriginally Posted By Primetime_1: The top 5% pay more taxes than everyone else combined....leave them alone, they're paying plenty (and I don't even have any capital gains to tax). The "middle class" sucks with money. Lots pay NO taxes and they're still broke. Quote HistoryOriginally Posted By Primetime_1: Originally Posted By FALARAK: Disingenuous article and discussion. While we all know that taxation = theft. But................. The ultra wealthy often do not have earned income. Often, all their income is from capital gains. Capital gains has a maximum tax rate of 20%, while working people have a rate of up to 37% (soon to be 39.6% again) on earned income. The proposal here, is to make capital gains taxes match earned income taxes on gains OVER $1 million dollars in a year. I do NOT subscribe to any sort of "eat the rich" mentality, and I personally benefit from lower capital gains rates every single year, but this proposal makes good sense to me. I have always felt the lower capital gains tax favored the ultra-wealthy disproportionally to the majority of taxpayers. The REASON this is lower is because of the power the wealthy have over Congress. The current tax system absolutely favors the very wealthy, and with lower capital gains tax rates combined with a step up in cost basis at inheritance, this ensures wealth grows in the upper 1% and allows the middle class to be slowly destroyed that much faster, as the net worth spread increases between the classes. I'd MUCH prefer seeing tax benefits directed at the middle class, to help this class of people prosper, or just see a flat tax across the board for all. This proposal is making taxes "flatter", so if you are a fan of the flat tax, that is exactly the direction this proposal is going. The problem is, so many of you just see anything from Biden as wrong, or any discussing on a tax increase as wrong...... without actually applying critical thinking skills. The top 5% pay more taxes than everyone else combined....leave them alone, they're paying plenty (and I don't even have any capital gains to tax). The "middle class" sucks with money. Lots pay NO taxes and they're still broke. This isnt about the top 5%. This is about the top 0.7%, and primarily those where income is not from earned income. |
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Posted: 4/24/2024 11:17:29 AM EDT
[#27]
Quote HistoryOriginally Posted By stevelish: Zero. That money was previously taxed as income. Quote HistoryOriginally Posted By stevelish: Originally Posted By Pallas: I agree... If anything, CapGains should be a flat 10%. Then they threw in the BS ObamaCare tag on of 3.8%, which is horseshit. Yes, the trust pays taxes. A trust (depending on the trust) protects assets from things like lawsuits and estate taxes. But, the trust still pays yearly taxes, unless it hasn't made any gains/income. Zero. That money was previously taxed as income. No, the majority of the money in question or scope of this legislation is growth from other capital gains, passed down from generation to generation, without ever being taxed due to step up in cost basis. The government biggest obstacle, is how do you go after THAT specific money, without impacting those where this was not the case? |
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TX, USA
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Posted: 4/24/2024 11:18:07 AM EDT
[#28]
Quote HistoryOriginally Posted By stevelish: Zero. That money was previously taxed as income. This. All of this. What I do with my post tax income, albeit I lose my money or put more back in my pocket, with how I allocate/ spend my money, my finances are my business and my proceeds alone. I'm tired of hearing how just because I'm taking 100% of the risk, my pockets get picked over because I came out ahead, by the IRS and .gov. There should not be a Capital Gains Tax, period! There should also not be a Cap on Capital Gains losses, as well. |
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AZ, USA
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Posted: 4/24/2024 11:19:19 AM EDT
[#29]
That's almost as nutty as taxing unrealized gains.
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Posted: 4/24/2024 11:19:42 AM EDT
[#30]
Quote HistoryOriginally Posted By Gator: Geezus, almost every day he has to come up with something to hate him more. FJB. Of course they'll be loopholes for his buddies. |
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MI, USA
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Posted: 4/24/2024 11:21:33 AM EDT
[#31]
Quote HistoryOriginally Posted By Rat_Patrol: But is congress insider trading exempted? Half doesn't matter as much when you can already cheat the system. Just cheat a little more. |
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Posted: 4/24/2024 11:22:31 AM EDT
[#32]
Quote HistoryOriginally Posted By brownbomber: That's almost as nutty as taxing unrealized gains. No. The taxing of unrealized gains is galaxy sized level insanity. |
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Posted: 4/24/2024 11:22:38 AM EDT
[Last Edit: PanzerOfDoom]
[#33]
I’m sure the retirees who invested and saved and are now living off of their capital gains will be pleased.
The .gov continues to reward failure and punish success. |
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FL, USA
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Posted: 4/24/2024 11:24:39 AM EDT
[#34]
Every thing I own is in a blind trust...fjb
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Posted: 4/24/2024 11:25:34 AM EDT
[Last Edit: FALARAK]
[#35]
Quote HistoryOriginally Posted By PanzerOfDoom: I’m sure the retirees who invested and saved and are now living off of their capital gains will be pleased. 1. A bulk of the retirement savings in the US are in 401k and IRA plans, which are not taxed at capital gains rates. 2. The "retiree" would need more than $1 million dollars a year in capital gains income to be impacted, and only the income OVER 1 million dollars per year would be impacted. How many "retirees" do you think have a capital gains income over $1 million? |
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OH, USA
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Posted: 4/24/2024 11:25:56 AM EDT
[#36]
Quote HistoryOriginally Posted By FALARAK: This isnt about the top 5%. This is about the top 0.7%, and primarily those where income is not from earned income. Problem is the government would just up spending to compensate for the extra income. What use would it really be outside of the “perceived” fairness of it? |
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Posted: 4/24/2024 11:26:29 AM EDT
[#37]
Quote HistoryOriginally Posted By Emeoba69: Problem is the government would just up spending to compensate for the extra income. What use would it really be outside of the “perceived” fairness of it? Quote HistoryOriginally Posted By Emeoba69: Originally Posted By FALARAK: This isnt about the top 5%. This is about the top 0.7%, and primarily those where income is not from earned income. Problem is the government would just up spending to compensate for the extra income. What use would it really be outside of the “perceived” fairness of it? Agreed. That's always the issue. |
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KS, USA
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Posted: 4/24/2024 11:28:31 AM EDT
[#38]
They print so much money to shuffle off to other countries, why are we taxed anyways?
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Posted: 4/24/2024 11:35:53 AM EDT
[Last Edit: 56xdx_Z]
[#39]
Quote HistoryOriginally Posted By laxman09: You sure about that? They just sent billions to other countries even though they said they would have to have border reform done first. This. They just need an "Intel briefing" about how americans are hoarding money in brokerage accounts that could be used to support our allies. Maybe get a few foreign influence agents like David Cameron in on the "briefing". Then mike hunt will fold like one of bidens diapers |
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FL, USA
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Posted: 4/24/2024 11:37:25 AM EDT
[Last Edit: Pallas]
[#40]
Quote HistoryOriginally Posted By FALARAK: This isnt about the top 5%. This is about the top 0.7%, and primarily those where income is not from earned income. So? They don't deserve to be punished. ...and that's how this shit starts. First it's the .7%, then the 1%, then the 5%, then everyone. |
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Posted: 4/24/2024 11:40:03 AM EDT
[#41]
Quote HistoryOriginally Posted By FALARAK: 1. A bulk of the retirement savings in the US are in 401k and IRA plans, which are not taxed at capital gains rates. 2. The "retiree" would need more than $1 million dollars a year in capital gains income to be impacted, and only the income OVER 1 million dollars per year would be impacted. How many "retirees" do you think have a capital gains income over $1 million? Quote HistoryOriginally Posted By FALARAK: Originally Posted By PanzerOfDoom: I’m sure the retirees who invested and saved and are now living off of their capital gains will be pleased. 1. A bulk of the retirement savings in the US are in 401k and IRA plans, which are not taxed at capital gains rates. 2. The "retiree" would need more than $1 million dollars a year in capital gains income to be impacted, and only the income OVER 1 million dollars per year would be impacted. How many "retirees" do you think have a capital gains income over $1 million? I get it now, so only the evil rich people are being punished. |
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Posted: 4/24/2024 11:43:33 AM EDT
[#42]
Quote HistoryOriginally Posted By PanzerOfDoom: I get it now, so only the evil rich people are being punished. Quote HistoryOriginally Posted By PanzerOfDoom: Originally Posted By FALARAK: Originally Posted By PanzerOfDoom: I’m sure the retirees who invested and saved and are now living off of their capital gains will be pleased. 1. A bulk of the retirement savings in the US are in 401k and IRA plans, which are not taxed at capital gains rates. 2. The "retiree" would need more than $1 million dollars a year in capital gains income to be impacted, and only the income OVER 1 million dollars per year would be impacted. How many "retirees" do you think have a capital gains income over $1 million? I get it now, so only the evil rich people are being punished. No. They should pay the same *rate*, making the flat tax concept more realistic. You are building a straw man now. |
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USA
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Posted: 4/24/2024 11:45:03 AM EDT
[#43]
Quote HistoryOriginally Posted By FALARAK: Disingenuous article and discussion. While we all know that taxation = theft. But................. The ultra wealthy often do not have earned income. Often, all their income is from capital gains. Capital gains has a maximum tax rate of 20%, while working people have a rate of up to 37% (soon to be 39.6% again) on earned income. The proposal here, is to make capital gains taxes match earned income taxes on gains OVER $1 million dollars in a year. I do NOT subscribe to any sort of "eat the rich" mentality, and I personally benefit from lower capital gains rates every single year, but this proposal makes good sense to me. I have always felt the lower capital gains tax favored the ultra-wealthy disproportionally to the majority of taxpayers. The REASON this is lower is because of the power the wealthy have over Congress. The current tax system absolutely favors the very wealthy, and with lower capital gains tax rates combined with a step up in cost basis at inheritance, this ensures wealth grows in the upper 1% and allows the middle class to be slowly destroyed that much faster, as the net worth spread increases between the classes. I'd MUCH prefer seeing tax benefits directed at the middle class, to help this class of people prosper, or just see a flat tax across the board for all. This proposal is making taxes "flatter", so if you are a fan of the flat tax, that is exactly the direction this proposal is going. The problem is, so many of you just see anything from Biden as wrong, or any discussing on a tax increase as wrong...... without actually applying critical thinking skills. For now. Originally tax stamps were $200 because no one could afford them. Through devaluation of the dollar, this will be the same thing. It is better to not open the box. |
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Posted: 4/24/2024 11:45:57 AM EDT
[#44]
Quote HistoryOriginally Posted By Pallas: So? They don't deserve to be punished. ...and that's how this shit starts. First it's the .7%, then the 1%, then the 5%, then everyone. Quote HistoryOriginally Posted By Pallas: Originally Posted By FALARAK: This isnt about the top 5%. This is about the top 0.7%, and primarily those where income is not from earned income. So? They don't deserve to be punished. ...and that's how this shit starts. First it's the .7%, then the 1%, then the 5%, then everyone. I agree with you in concept about slippery slopes. But we are already in a progressive tax system, and much of the system does in fact benefit the ultra-wealthy, because they influence congress to their advantage. The system is bought and paid for by those with the MOST financial assets, and therefore control. |
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Posted: 4/24/2024 11:46:48 AM EDT
[#45]
Quote HistoryOriginally Posted By mattellis2: For now. Originally tax stamps were $200 because no one could afford them. Through devaluation of the dollar, this will be the same thing. It is better to not open the box. Quote HistoryOriginally Posted By mattellis2: Originally Posted By FALARAK: Disingenuous article and discussion. While we all know that taxation = theft. But................. The ultra wealthy often do not have earned income. Often, all their income is from capital gains. Capital gains has a maximum tax rate of 20%, while working people have a rate of up to 37% (soon to be 39.6% again) on earned income. The proposal here, is to make capital gains taxes match earned income taxes on gains OVER $1 million dollars in a year. I do NOT subscribe to any sort of "eat the rich" mentality, and I personally benefit from lower capital gains rates every single year, but this proposal makes good sense to me. I have always felt the lower capital gains tax favored the ultra-wealthy disproportionally to the majority of taxpayers. The REASON this is lower is because of the power the wealthy have over Congress. The current tax system absolutely favors the very wealthy, and with lower capital gains tax rates combined with a step up in cost basis at inheritance, this ensures wealth grows in the upper 1% and allows the middle class to be slowly destroyed that much faster, as the net worth spread increases between the classes. I'd MUCH prefer seeing tax benefits directed at the middle class, to help this class of people prosper, or just see a flat tax across the board for all. This proposal is making taxes "flatter", so if you are a fan of the flat tax, that is exactly the direction this proposal is going. The problem is, so many of you just see anything from Biden as wrong, or any discussing on a tax increase as wrong...... without actually applying critical thinking skills. For now. Originally tax stamps were $200 because no one could afford them. Through devaluation of the dollar, this will be the same thing. It is better to not open the box. That part might be true. But I'd argue the box is already open. |
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Posted: 4/24/2024 11:48:45 AM EDT
[#46]
How about this discussion:
Why shouldn't realized income from capital gains be taxed just like all other income? Why are capital gains tax rates kept lower? Who benefits the most from that? |
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USA
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Posted: 4/24/2024 11:49:50 AM EDT
[#47]
Quote HistoryOriginally Posted By brownbomber: That's almost as nutty as taxing unrealized gains. that's being floated too. it passes, and it is time to get of the sinking ship. |
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Posted: 4/24/2024 11:51:43 AM EDT
[#48]
Quote HistoryOriginally Posted By Notcalifornialegal: He can call for it all he wants. That would never pass the House. With Johnson now totally unmasked as a Democrat, don't be so sure. 
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Posted: 4/24/2024 11:52:05 AM EDT
[#49]
Quote HistoryOriginally Posted By FALARAK: No. They should pay the same *rate*, making the flat tax concept more realistic. You are building a straw man now. Quote HistoryOriginally Posted By FALARAK: Originally Posted By PanzerOfDoom: Originally Posted By FALARAK: Originally Posted By PanzerOfDoom: I’m sure the retirees who invested and saved and are now living off of their capital gains will be pleased. 1. A bulk of the retirement savings in the US are in 401k and IRA plans, which are not taxed at capital gains rates. 2. The "retiree" would need more than $1 million dollars a year in capital gains income to be impacted, and only the income OVER 1 million dollars per year would be impacted. How many "retirees" do you think have a capital gains income over $1 million? I get it now, so only the evil rich people are being punished. No. They should pay the same *rate*, making the flat tax concept more realistic. You are building a straw man now. I agree on the flat tax, personally I don’t think capital gains should be taxed at all but if these new taxes are enacted we will all be affected. |
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USA
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Posted: 4/24/2024 11:52:42 AM EDT
[#50]
Quote HistoryOriginally Posted By FALARAK: How about this discussion: Why shouldn't realized income from capital gains be taxed just like all other income? Why are capital gains tax rates kept lower? Who benefits the most from that? Its been mentioned...post tax money shouldn't be taxed again, when you use it for your own benefit (at your own risk). |
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