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How is this Class warfare , when you so correctly point out, Everyone will pay this Tax?
The Buffett rule is rooted in the fairy tale that taxes on the wealthy are lower than on the middle class. In fact, the Congressional Budget Office notes that the effective income tax rate of the richest 1% is about 29.5% when including all federal taxes such as the distribution of corporate taxes, or about twice the 15.1% paid by middle-class families.
This is because wealthy tax filers make most of their income from investments. Such income is taxed once at the corporate rate of 35% and again when it is passed through to the individual as a capital gain or dividend at 15%, for a highest marginal tax rate of about 44.75%.
This double taxation is one reason the U.S. has long had a differential tax rate for capital gains. Another reason is because while taxpayers must pay taxes on their gains, they aren't allowed to deduct capital losses (beyond $3,000 a year) except against gains in the current year.
in a time of the highest deficits since World War II, Mr. Obama wants to double the capital gains tax rate even as he raises the top income-tax rate to 42% or so. Mr. Obama really is taking us back to the worst habits of the 1970s. And not because he thinks higher rates will raise revenue, but merely so he can score points against Mitt Romney and stick it to the successful.
Originally posted by beezzer
Originally posted by mastahunta
All that aside,
the elite business men of the world will use you and your ideas to extract all the money from this
nation, people like you and me and then invest those gains in a cheaper, flowering market
which will work tirelessly to conquer this country. This is a newer practice and it will eliminate
the lifestyle we cultivate unless we are recognize that the best business model available is
horrible for Americans and Americaedit on 26-1-2012 by mastahunta because: (no reason given)
No. Not all that aside. This topic is about the governrment pushing the class warfare meme. They want more money. They will do whatever it takes to secure more money.
You see government as Santa. Kind, benevolent, and there to absolve you of any responsibility.
I see government like a prostate exam.
Painful, intrusive, uncomfortable, but sometimes necessary.
You defend class warfare by attacking business. Profit. Free market.
It just doesn't work. At least it doesn't for people who don't think like sheep.
Profit. Free market.
Originally posted by mastahunta
Originally posted by thehoneycomb
reply to post by mastahunta
It's obvious, he is getting votes from the youth and trying to appeal to them.
Those of us who received an education and know history. Not the history taught post 9/11 know better.
Yes, because we are going to have to pay for these tax cuts and these corporatist policies that
have been in place since 1980.
If you know history, you would know that this country did much better in the 50's and 60's
when the rich were taxed appropriately.
Originally posted by mastahunta
Originally posted by beezzer
Originally posted by mastahunta
Originally posted by beezzer
reply to post by seabag
Speaking of entitlements, have you noticed how it is the government that feels entitled to our money?
They (and detractors here) are shocked when people want to keep their own money. They play games with figures, talk about "fair share" obfuscate meanings, but what it comes down to is this;
They feel that they are entitled to our money. When we want to keep it, the meme has become greed, selfish, and emerges with class warfare.
It has little to do with you Beezzer, it has to do with the greed that has been
used to fleece this nation of wealth and jobs.
You are right, the corporations and elite businessmen feel entitled to our money,
they should pay their way, not just extract all the wealth from the US to invest
it in China, wake up...
You pay for their tax reductions, in leu of them paying, you pay, not too smart.edit on 26-1-2012 by mastahunta because: (no reason given)
Government spends money that is not theirs.
When they are done, they demand more.
They provide minimum service at maximum cost. Government is inefficient, wasteful and greedy.
Paint roses on a dog turd all you want.
You'll still end up smells like. . . . . .
All that aside,
the elite business men of the world will use you and your ideas to extract all the money from this
nation, people like you and me and then invest those gains in a cheaper, flowering market
which will work tirelessly to conquer this country. This is a newer practice and it will eliminate
the lifestyle we cultivate unless we are recognize that the best business model available is
horrible for Americans and Americaedit on 26-1-2012 by mastahunta because: (no reason given)
Originally posted by thehoneycomb
reply to post by 247southland
You do realize that if people are over taxed on money they invest it will discourage them from investing then costs of products and services that you use everyday will go through the roof.
You think it's hard to put food on the table now? Just wait.edit on 26-1-2012 by thehoneycomb because: (no reason given)
If that were the case than wouldn't Romney pay 0 taxes since all of his income is based off of investment returns? He makes like $40ish million a year, $50,000ish a day. Yeah, no, you have to pay
The 5% and 0% long-term capital gains rates will only apply when the total taxable income of the taxpayer(s), INCLUDING the capital gain income, does not exceed the maximum income to qualify for the 15% income tax bracket, with any gain exceeding that threshold taxed at 15%.
Originally posted by thehoneycomb
reply to post by mastahunta
It is ALMOST laughable...
This country was robbed blind by the banks
The citizens who join the Occupy movement are angry about that
and you make it seem as if they are unaware of who robbed this country.
The screwing already happened, man, where have you been???
The Unions took the money and blew it Again.
AND THEY are out there organizing protests for OWS and you are standing side by side with them.
And thats why WE ARE ANGRY.