Why does our society keep and add unenforceable bans?

[donttread]

You pay the same rate on your investment income. We all pay our legal rate. You realize that whether someone is “rich” depends on what side of the street you are standing on?

Didn't Mitt Romney once average 20% on something like 47 million? That side of the street is rich and does not pay the tax bracket they are in no matter where you are standing. Money made from wholesome activities like corporate raiding and jobs destruction.But don't worry I don't particularly like "working man loopholes" either. Why reward people for continuing to have kids in an over populated country in an over populated world? I'd eventually like to see a consumption tax but first the super rich need to pay back some of what they have not paid because of undue influence in order to start to pay down the debt payola sent their way helped create.

[donttread]

Why are you so envious of successful people?

The envy drips from you. You are a Marxist through and through.

Well if you say so it must be.... BS

[donttread]

Meanwhile back at the thread topic. We apparently have a president who wants to ban the destruction of the symbol of our "freedom". Does anyone else find that pathetic AND laughable at the same time?

[DGUtley]

Didn't Mitt Romney once average 20% on something like 47 million? That side of the street is rich and does not pay the tax bracket they are in no matter where you are standing. Money made from wholesome activities like corporate raiding and jobs destruction.But don't worry I don't particularly like "working man loopholes" either. Why reward people for continuing to have kids in an over populated country in an over populated world? I'd eventually like to see a consumption tax but first the super rich need to pay back some of what they have not paid because of undue influence in order to start to pay down the debt payola sent their way helped create.

If he paid 20%, he paid his legal rate. Why do you have a problem with that? The justification for a lower tax rate on capital gains relative to ordinary income is threefold: it is not indexed for inflation, it is a double tax, and it encourages present consumption over future consumption. Remember, Wages are first taxed by payroll and personal income taxes, then again by the corporate income tax if one chooses to invest in corporate equities, and then again when those investments pay off in the form of dividends and capital gains.

[Tahuyaman]

I can't speak for him, but you could refer to the capital gains tax's lower rates (as compared with the brackets set for income tax rates) as a perk used by the wealthy. Typically, wealthy people make a lot of revenue off of capital gains as compared with their standard income.

That being said, we can't raise the rates too much, or that affects overall economic growth. I think a lot of the left doesn't understand the importance of things like investment as compared with consumption.

The fact remains that those in the higher tax brackets pay a higher capital gains rate than those in the lower tax brackets.

[Tahuyaman]

If he paid 20%, he paid his legal rate. Why do you have a problem with that? The justification for a lower tax rate on capital gains relative to ordinary income is threefold: it is not indexed for inflation, it is a double tax, and it encourages present consumption over future consumption. Remember, Wages are first taxed by payroll and personal income taxes, then again by the corporate income tax if one chooses to invest in corporate equities, and then again when those investments pay off in the form of dividends and capital gains.

Yes, the money which generated the capital gain has been taxed already probably more than once. Too many people are just tax crazy. Tax everything as often as they can.

[MisterVeritis]

I should correct what I said earlier. He didn't end the SALT deduction. He capped it. However, the cap was still high enough that it didn't affect most people in most states. Only the really high taxing states affected a lot of people.

As far as capital gains go, I can see both sides on that. On the one hand, you don't want to discourage investment. On the other hand, it could probably be a little higher without affecting investment much.

Like many closet Marxists you believe the State owns the wealth. We little people are allowed to only keep some small amount of what we produce. The government can do with far less of our wealth. Takings should be capped for government across all levels at 10% of what we earn.

[Peter1469]

Didn't Mitt Romney once average 20% on something like 47 million? That side of the street is rich and does not pay the tax bracket they are in no matter where you are standing. Money made from wholesome activities like corporate raiding and jobs destruction.But don't worry I don't particularly like "working man loopholes" either. Why reward people for continuing to have kids in an over populated country in an over populated world? I'd eventually like to see a consumption tax but first the super rich need to pay back some of what they have not paid because of undue influence in order to start to pay down the debt payola sent their way helped create.

"Corporate raiding" is a term made up by people who don't know what they are talking about.

[Peter1469]

If he paid 20%, he paid his legal rate. Why do you have a problem with that? The justification for a lower tax rate on capital gains relative to ordinary income is threefold: it is not indexed for inflation, it is a double tax, and it encourages present consumption over future consumption. Remember, Wages are first taxed by payroll and personal income taxes, then again by the corporate income tax if one chooses to invest in corporate equities, and then again when those investments pay off in the form of dividends and capital gains.

Mitt pays more in taxes in 1 year than the bone-heads who claim he doesn't pay enough pay in their entire lives.

[Captdon]

Well, that was a good policy to implement, because, before that, the status quo basically incentivized states to tax their residents more.

By ending the SALT deduction, high tax state residents truly feel how much their state is screwing them. This will hopefully result in more people in these states demanding lower state taxes.

I liked the part where he says "Your President." A secret liberal getting outed.