A breakdown of who is really paying taxes

[BlindBoo]

Do what?
1) its not your money
2) it is not your money
3) it is not your money

Do you libs understand that? do you also understand that taxes are paid on capital gains? do you also understand that most of that wealth has been taxed once?
and before you claim thats not true, I trade stocks with money I earned from my job

Free ride?

Capital gains tax in the United States - Wikipedia, the free encyclopedia

JRK earns the welath by working 10 hours a day
Pays taxes on that wealth
JRK puts part of whats left at risk by buying stocks in an American company that will us that wealth to expand there product, to create wealth and jobs for others
JRK makes gains on that wealth he put at risk (sometimes)
JRK pays taxes on that welath that you my friend at no time lifted one finger to help, and now you call me greedy and you want more

THATS NUTS

Nutz.

Again. Short term capital gains are taxed at the normal income rate. Long term capital gain are taxed at 15% or lower depending on your bracket.

The Gains are not the wealth use for investment. They(the gain or loss) would be the difference between the price you paid for the stock and the price you sold it for. If that number is positive you pay taxes on it. If it's a negative you can take the loss (of wealth) as a deduction from your gross income.

I hope that clears up the whole idea that capital gains tax somehow taxes your wealth twice.

Overtaxed Capital Gains

There are three ways to argue that capital gains are double taxed (or simply overtaxed). All three are real and cannot be denied by Democrats.

(1) All taxation of saving is a form of double taxation. This observation is nothing new to economists. For example, in 1848 the British philosopher and economist John Stuart Mill wrote: "Unless . . . savings are exempt from tax, the contributors are taxed twice on what they save, and only once on what they spend." Since then, economists have often said things like "income from saving is taxed twice." This is another way of saying an income tax is biased against saving -- a bias not shared by a consumption tax.

Source: IRS, Statistics of Income division, "The 400 Individual Income Tax Returns Reporting the Highest Adjusted Gross Incomes Each Year, 1992-2006," available at http://www.irs.gov/pub/irs-soi/06intop400.pdf.

(2) Profits giving rise to capital gain on equities have already been subject to corporate tax. There is no good economic justification for the corporate tax. It is unfair and inefficient to tax profits first with the corporate tax and then again with an individual tax either on dividends or capital gains.

Effective Tax Rates on Investment
(Real Rate of Return = 5%; Capital Gains Rate = 15%)

(3) Inflationary gains are not real income and should not be subject to tax. The relative stability of the price level over the past three decades has greatly reduced concerns about the highly detrimental effects of inflation on the operation of the income tax. But even at low levels, inflation overstates returns to capital. One manifestation of this problem is the taxation of inflationary gains as if they represented appreciation in real value.

(1) Tax on capital gain is deferred until gains are realized. Deferral of unrealized gain provides a tax benefit. The size of the benefit grows with the holding period and the rate of return on the asset.

How does the benefit of deferral compare with the extra burden caused by the taxation of inflationary gains? The combination of the two can put the effective tax rate on capital gains either above or below the statutory rate. Which effect is stronger depends on the level of inflation and the length of the deferral period. It is interesting to note that time usually heals the wounds of inflation. Over long holding periods (e.g., 25 years), the detrimental effects of inflation are almost always eliminated by deferral, so the effective rate of tax is below the statutory rate. (See the table above.)

(2) Unrealized gains are untaxed if assets are held until death. Except in the wacky tax year of 2010 (when the estate tax was temporarily repealed), heirs get a tax-free step-up in basis of inherited property. So unrealized gains that have accrued between the time of purchase and the time of death are free of individual tax (although they can be subject to the estate tax). Step-up in basis at death eliminates tax on both real and inflationary gains.

(3) Capital gains are taxed at 15 percent. This rate equals the 15 percent rate on dividends but is far below the top statutory rate of 35 percent. If the Bush tax cuts expire on schedule at the end of 2012, the capital gains rate will return to 20 percent. Also at the end of 2012, dividends will lose their special status and be treated like wages and interest -- subject to a top rate of 39.6 percent. On top of all that, the healthcare reform legislation enacted in March 2010 will impose a new Medicare tax on net investment income beginning in 2013 to the extent income exceeds $200,000 for single individuals or $250,000 for married couples filing jointly.

Table 2.pdf

(3) Inflationary gains are not real income and should not be subject to tax. The relative stability of the price level over the past three decades has greatly reduced concerns about the highly detrimental effects of inflation on the operation of the income tax. But even at low levels, inflation overstates returns to capital. One manifestation of this problem is the taxation of inflationary gains as if they represented appreciation in real value.

That really doesn't back up Jr's claim that his investment (wealth) is double taxed does it?

 

[clevergirl]

Nutz.

Again. Short term capital gains are taxed at the normal income rate. Long term capital gain are taxed at 15% or lower depending on your bracket.

The Gains are not the wealth use for investment. They(the gain or loss) would be the difference between the price you paid for the stock and the price you sold it for. If that number is positive you pay taxes on it. If it's a negative you can take the loss (of wealth) as a deduction from your gross income.

I hope that clears up the whole idea that capital gains tax somehow taxes your wealth twice.

Overtaxed Capital Gains

There are three ways to argue that capital gains are double taxed (or simply overtaxed). All three are real and cannot be denied by Democrats.

(1) All taxation of saving is a form of double taxation. This observation is nothing new to economists. For example, in 1848 the British philosopher and economist John Stuart Mill wrote: "Unless . . . savings are exempt from tax, the contributors are taxed twice on what they save, and only once on what they spend." Since then, economists have often said things like "income from saving is taxed twice." This is another way of saying an income tax is biased against saving -- a bias not shared by a consumption tax.

Source: IRS, Statistics of Income division, "The 400 Individual Income Tax Returns Reporting the Highest Adjusted Gross Incomes Each Year, 1992-2006," available at http://www.irs.gov/pub/irs-soi/06intop400.pdf.

(2) Profits giving rise to capital gain on equities have already been subject to corporate tax. There is no good economic justification for the corporate tax. It is unfair and inefficient to tax profits first with the corporate tax and then again with an individual tax either on dividends or capital gains.

Effective Tax Rates on Investment
(Real Rate of Return = 5%; Capital Gains Rate = 15%)

(3) Inflationary gains are not real income and should not be subject to tax. The relative stability of the price level over the past three decades has greatly reduced concerns about the highly detrimental effects of inflation on the operation of the income tax. But even at low levels, inflation overstates returns to capital. One manifestation of this problem is the taxation of inflationary gains as if they represented appreciation in real value.

(1) Tax on capital gain is deferred until gains are realized. Deferral of unrealized gain provides a tax benefit. The size of the benefit grows with the holding period and the rate of return on the asset.

How does the benefit of deferral compare with the extra burden caused by the taxation of inflationary gains? The combination of the two can put the effective tax rate on capital gains either above or below the statutory rate. Which effect is stronger depends on the level of inflation and the length of the deferral period. It is interesting to note that time usually heals the wounds of inflation. Over long holding periods (e.g., 25 years), the detrimental effects of inflation are almost always eliminated by deferral, so the effective rate of tax is below the statutory rate. (See the table above.)

(2) Unrealized gains are untaxed if assets are held until death. Except in the wacky tax year of 2010 (when the estate tax was temporarily repealed), heirs get a tax-free step-up in basis of inherited property. So unrealized gains that have accrued between the time of purchase and the time of death are free of individual tax (although they can be subject to the estate tax). Step-up in basis at death eliminates tax on both real and inflationary gains.

(3) Capital gains are taxed at 15 percent. This rate equals the 15 percent rate on dividends but is far below the top statutory rate of 35 percent. If the Bush tax cuts expire on schedule at the end of 2012, the capital gains rate will return to 20 percent. Also at the end of 2012, dividends will lose their special status and be treated like wages and interest -- subject to a top rate of 39.6 percent. On top of all that, the healthcare reform legislation enacted in March 2010 will impose a new Medicare tax on net investment income beginning in 2013 to the extent income exceeds $200,000 for single individuals or $250,000 for married couples filing jointly.

Table 2.pdf

(3) Inflationary gains are not real income and should not be subject to tax. The relative stability of the price level over the past three decades has greatly reduced concerns about the highly detrimental effects of inflation on the operation of the income tax. But even at low levels, inflation overstates returns to capital. One manifestation of this problem is the taxation of inflationary gains as if they represented appreciation in real value.

That really doesn't back up Jr's claim that his investment (wealth) is double taxed does it?

You said capital gains are not double taxed- You were wrong. So any wealth that is the consequence of capital (investment) gains is double taxed.

 

[Desperado]

From some of your positions on the left, your ultimate dream would be that the government collects our entire paycheck then decides on what they should give back to us.

 

[JRK]

Do what?
1) its not your money
2) it is not your money
3) it is not your money

Do you libs understand that? do you also understand that taxes are paid on capital gains? do you also understand that most of that wealth has been taxed once?
and before you claim thats not true, I trade stocks with money I earned from my job

Free ride?

Capital gains tax in the United States - Wikipedia, the free encyclopedia

JRK earns the welath by working 10 hours a day
Pays taxes on that wealth
JRK puts part of whats left at risk by buying stocks in an American company that will us that wealth to expand there product, to create wealth and jobs for others
JRK makes gains on that wealth he put at risk (sometimes)
JRK pays taxes on that welath that you my friend at no time lifted one finger to help, and now you call me greedy and you want more

THATS NUTS

Nutz.

Again. Short term capital gains are taxed at the normal income rate. Long term capital gain are taxed at 15% or lower depending on your bracket.

The Gains are not the wealth use for investment. They(the gain or loss) would be the difference between the price you paid for the stock and the price you sold it for. If that number is positive you pay taxes on it. If it's a negative you can take the loss (of wealth) as a deduction from your gross income.

I hope that clears up the whole idea that capital gains tax somehow taxes your wealth twice.

Overtaxed Capital Gains

There are three ways to argue that capital gains are double taxed (or simply overtaxed). All three are real and cannot be denied by Democrats.

(1) All taxation of saving is a form of double taxation. This observation is nothing new to economists. For example, in 1848 the British philosopher and economist John Stuart Mill wrote: "Unless . . . savings are exempt from tax, the contributors are taxed twice on what they save, and only once on what they spend." Since then, economists have often said things like "income from saving is taxed twice." This is another way of saying an income tax is biased against saving -- a bias not shared by a consumption tax.

Source: IRS, Statistics of Income division, "The 400 Individual Income Tax Returns Reporting the Highest Adjusted Gross Incomes Each Year, 1992-2006," available at http://www.irs.gov/pub/irs-soi/06intop400.pdf.

(2) Profits giving rise to capital gain on equities have already been subject to corporate tax. There is no good economic justification for the corporate tax. It is unfair and inefficient to tax profits first with the corporate tax and then again with an individual tax either on dividends or capital gains.

Effective Tax Rates on Investment
(Real Rate of Return = 5%; Capital Gains Rate = 15%)

(3) Inflationary gains are not real income and should not be subject to tax. The relative stability of the price level over the past three decades has greatly reduced concerns about the highly detrimental effects of inflation on the operation of the income tax. But even at low levels, inflation overstates returns to capital. One manifestation of this problem is the taxation of inflationary gains as if they represented appreciation in real value.

(1) Tax on capital gain is deferred until gains are realized. Deferral of unrealized gain provides a tax benefit. The size of the benefit grows with the holding period and the rate of return on the asset.

How does the benefit of deferral compare with the extra burden caused by the taxation of inflationary gains? The combination of the two can put the effective tax rate on capital gains either above or below the statutory rate. Which effect is stronger depends on the level of inflation and the length of the deferral period. It is interesting to note that time usually heals the wounds of inflation. Over long holding periods (e.g., 25 years), the detrimental effects of inflation are almost always eliminated by deferral, so the effective rate of tax is below the statutory rate. (See the table above.)

(2) Unrealized gains are untaxed if assets are held until death. Except in the wacky tax year of 2010 (when the estate tax was temporarily repealed), heirs get a tax-free step-up in basis of inherited property. So unrealized gains that have accrued between the time of purchase and the time of death are free of individual tax (although they can be subject to the estate tax). Step-up in basis at death eliminates tax on both real and inflationary gains.

(3) Capital gains are taxed at 15 percent. This rate equals the 15 percent rate on dividends but is far below the top statutory rate of 35 percent. If the Bush tax cuts expire on schedule at the end of 2012, the capital gains rate will return to 20 percent. Also at the end of 2012, dividends will lose their special status and be treated like wages and interest -- subject to a top rate of 39.6 percent. On top of all that, the healthcare reform legislation enacted in March 2010 will impose a new Medicare tax on net investment income beginning in 2013 to the extent income exceeds $200,000 for single individuals or $250,000 for married couples filing jointly.

Table 2.pdf

(3) Inflationary gains are not real income and should not be subject to tax. The relative stability of the price level over the past three decades has greatly reduced concerns about the highly detrimental effects of inflation on the operation of the income tax. But even at low levels, inflation overstates returns to capital. One manifestation of this problem is the taxation of inflationary gains as if they represented appreciation in real value.

Excellent thread
5 stars
spot on

I have been investing in Apple in the last year
great run until this week
My god what a blood bath, sleepless nights trying to figure out why and whats the next move
People who have never been thru this have no idea how hard it is to invest. So many lost so much in 08 and 09

They have no clue

 

[BlindBoo]

Overtaxed Capital Gains

There are three ways to argue that capital gains are double taxed (or simply overtaxed). All three are real and cannot be denied by Democrats.

(1) All taxation of saving is a form of double taxation. This observation is nothing new to economists. For example, in 1848 the British philosopher and economist John Stuart Mill wrote: "Unless . . . savings are exempt from tax, the contributors are taxed twice on what they save, and only once on what they spend." Since then, economists have often said things like "income from saving is taxed twice." This is another way of saying an income tax is biased against saving -- a bias not shared by a consumption tax.

Source: IRS, Statistics of Income division, "The 400 Individual Income Tax Returns Reporting the Highest Adjusted Gross Incomes Each Year, 1992-2006," available at http://www.irs.gov/pub/irs-soi/06intop400.pdf.

(2) Profits giving rise to capital gain on equities have already been subject to corporate tax. There is no good economic justification for the corporate tax. It is unfair and inefficient to tax profits first with the corporate tax and then again with an individual tax either on dividends or capital gains.

Effective Tax Rates on Investment
(Real Rate of Return = 5%; Capital Gains Rate = 15%)

(3) Inflationary gains are not real income and should not be subject to tax. The relative stability of the price level over the past three decades has greatly reduced concerns about the highly detrimental effects of inflation on the operation of the income tax. But even at low levels, inflation overstates returns to capital. One manifestation of this problem is the taxation of inflationary gains as if they represented appreciation in real value.

(1) Tax on capital gain is deferred until gains are realized. Deferral of unrealized gain provides a tax benefit. The size of the benefit grows with the holding period and the rate of return on the asset.

How does the benefit of deferral compare with the extra burden caused by the taxation of inflationary gains? The combination of the two can put the effective tax rate on capital gains either above or below the statutory rate. Which effect is stronger depends on the level of inflation and the length of the deferral period. It is interesting to note that time usually heals the wounds of inflation. Over long holding periods (e.g., 25 years), the detrimental effects of inflation are almost always eliminated by deferral, so the effective rate of tax is below the statutory rate. (See the table above.)

(2) Unrealized gains are untaxed if assets are held until death. Except in the wacky tax year of 2010 (when the estate tax was temporarily repealed), heirs get a tax-free step-up in basis of inherited property. So unrealized gains that have accrued between the time of purchase and the time of death are free of individual tax (although they can be subject to the estate tax). Step-up in basis at death eliminates tax on both real and inflationary gains.

(3) Capital gains are taxed at 15 percent. This rate equals the 15 percent rate on dividends but is far below the top statutory rate of 35 percent. If the Bush tax cuts expire on schedule at the end of 2012, the capital gains rate will return to 20 percent. Also at the end of 2012, dividends will lose their special status and be treated like wages and interest -- subject to a top rate of 39.6 percent. On top of all that, the healthcare reform legislation enacted in March 2010 will impose a new Medicare tax on net investment income beginning in 2013 to the extent income exceeds $200,000 for single individuals or $250,000 for married couples filing jointly.

Table 2.pdf

(3) Inflationary gains are not real income and should not be subject to tax. The relative stability of the price level over the past three decades has greatly reduced concerns about the highly detrimental effects of inflation on the operation of the income tax. But even at low levels, inflation overstates returns to capital. One manifestation of this problem is the taxation of inflationary gains as if they represented appreciation in real value.

That really doesn't back up Jr's claim that his investment (wealth) is double taxed does it?

You said capital gains are not double taxed- You were wrong. So any wealth that is the consequence of capital (investment) gains is double taxed.

No I didn't. I said that the wealth used to buy the investment was not taxed when it was used to buy and sell stock, only the profit is. The example was a simple stock trade. I'm not agreeing or disagreeing with your example of how in some instances it could be true that these gains are taxed twice.

 

[JRK]

That really doesn't back up Jr's claim that his investment (wealth) is double taxed does it?

You said capital gains are not double taxed- You were wrong. So any wealth that is the consequence of capital (investment) gains is double taxed.

No I didn't. I said that the wealth used to buy the investment was not taxed when it was used to buy and sell stock, only the profit is. The example was a simple stock trade. I'm not agreeing or disagreeing with your example of how in some instances it could be true that these gains are taxed twice.

Our point is that trying to compare capital gains with income is a farce.
BHO nor did Buffet have any business making that comparison. If it makes you feel better Boo there is a very large hedge fund (some say GS) manipulating Appl stock, has been for a week and not sure when they will stop
It has cost Apple billions, and I mean multiple billions in market cap
For us investors its been a blood bath, 640 to 570 in 5 days

Ride that storm out for a week and then try and explain to me how that 20,000 I earned working, had been taxed as income, is some-how the same as capital gains

If that stock keeps falling, Millions of people will never see that wealth again

The only reason is some hedge fund is dumping millions on the market before earnings, they are manipulating the system
Harming the "wealthy" should make you happy

 

[American Horse]

Also, any reference to what percentage of the total tax revenues are paid by a particular group of people is meaningless and should be completely disregarded.

Only if we disregard all the rhetoric; specifically about high earners not paying a fair share when the share of taxes paid by them on income is overwhelmly the greater part of revenue to the treasury to make up for those who pay little.

 

[JRK]

To start with it matters not only who pays what, but what is paid by who
Income and capital gains are 2 totally different taxes, yet if Buffet as well as BHO had there way we would never know that

You damn right it matters.
We need a budget that is based on the 07 budget, get back to 5% UE and end the war in Afghanistan when it the military says its time and we would have a balanced budget

 

[OohPooPahDoo]

To start with it matters not only who pays what, but what is paid by who
Income and capital gains are 2 totally different taxes, yet if Buffet as well as BHO had there way we would never know that

I think that's kinda the point. Why should they be different? There's no logical reason to tax labor and ingenuity more than luck.

 

[BlindBoo]

You said capital gains are not double taxed- You were wrong. So any wealth that is the consequence of capital (investment) gains is double taxed.

No I didn't. I said that the wealth used to buy the investment was not taxed when it was used to buy and sell stock, only the profit is. The example was a simple stock trade. I'm not agreeing or disagreeing with your example of how in some instances it could be true that these gains are taxed twice.

Our point is that trying to compare capital gains with income is a farce.
BHO nor did Buffet have any business making that comparison. If it makes you feel better Boo there is a very large hedge fund (some say GS) manipulating Appl stock, has been for a week and not sure when they will stop
It has cost Apple billions, and I mean multiple billions in market cap
For us investors its been a blood bath, 640 to 570 in 5 days

Ride that storm out for a week and then try and explain to me how that 20,000 I earned working, had been taxed as income, is some-how the same as capital gains

If that stock keeps falling, Millions of people will never see that wealth again

The only reason is some hedge fund is dumping millions on the market before earnings, they are manipulating the system
Harming the "wealthy" should make you happy

Of course it's income when you sell it for a profit.

The situation you describe, if you sold your shares, would be a capital loss, which you could then deduct from you current years gross income.

I take exception to your back-handed insult that harming the wealthy would make me happy.

 

[BlindBoo]

To start with it matters not only who pays what, but what is paid by who
Income and capital gains are 2 totally different taxes, yet if Buffet as well as BHO had there way we would never know that

You damn right it matters.
We need a budget that is based on the 07 budget, get back to 5% UE and end the war in Afghanistan when it the military says its time and we would have a balanced budget

Short term capital gain are taxed at the regular income rate. It is only the long term capital gains that get a break.

 

[JRK]

To start with it matters not only who pays what, but what is paid by who
Income and capital gains are 2 totally different taxes, yet if Buffet as well as BHO had there way we would never know that

I think that's kinda the point. Why should they be different? There's no logical reason to tax labor and ingenuity more than luck.

Maybe I do not understand your thread
To invest capital to make gains, at some point in time that wealth has been taxed as income
To tax that wealth again makes no sense, at least not the same income is taxed

Whats the incentive?

To create jobs we must have investment

 

[OohPooPahDoo]

To start with it matters not only who pays what, but what is paid by who
Income and capital gains are 2 totally different taxes, yet if Buffet as well as BHO had there way we would never know that

I think that's kinda the point. Why should they be different? There's no logical reason to tax labor and ingenuity more than luck.

Maybe I do not understand your thread
To invest capital to make gains, at some point in time that wealth has been taxed as income
To tax that wealth again makes no sense, at least not the same income is taxed

The wealth is not taxed again. Only the new wealth - the gains - are taxed. Your principal is not taxed again. This seems to be a very popular misconception. You'd think with the name capital GAIN it would be obvious the principal is not taxed twice.

Whats the incentive?

What is the incentive to make money? Is that a serious question?

To create jobs we must have investment

You seem to lack basic understanding of what's going on here. If I open up a restaurant and create jobs - the income I make from that restaurant is taxed as ordinary income - not capital gains. If I buy a share of stock in the secondary market, that only makes jobs for stock brokers, and my gains are taxed at the special rate. So your statement makes very little sense.

 

[Misty]

85 million pay income tax? Cuz everyone pays taxes whenever they buy gasoline cigarettes junk food soda beer a car a house etc.

Our money is taxed at least 5 times before we can actually put a little away for a raining day.

 

[American Horse]

To start with it matters not only who pays what, but what is paid by who
Income and capital gains are 2 totally different taxes, yet if Buffet as well as BHO had there way we would never know that

I think that's kinda the point. Why should they be different? There's no logical reason to tax labor and ingenuity more than luck.

Those who have earnings from investment don't have to invest. If they don't invest there will be less new jobs for those who need them for earning a living. People who have built up wealth don't have to put it at risk (luck of the marketplace) so to encourage risk taking they should be taxed less on those type earnings.

 

[JRK]

To start with it matters not only who pays what, but what is paid by who
Income and capital gains are 2 totally different taxes, yet if Buffet as well as BHO had there way we would never know that

I think that's kinda the point. Why should they be different? There's no logical reason to tax labor and ingenuity more than luck.

Those who have earnings from investment don't have to invest. If they don't invest there will be less new jobs for those who need them for earning a living. People who have built up wealth don't have to put it at risk (luck of the marketplace) so to encourage risk taking they should be taxed less on those type earnings.

I could not agree more
The more wealth from those investments creates more jobs thru, well this year alone I have up graded at my home from capital investments
Its the only way those up grades could have been made as the job market is beyond dead in my region

 

[starcraftzzz]

People the truth is simple
It is at times very boring
My reputation as well as they way I decide who I support in the political theater is based on facts, not spun out spam
Another item. there are some people who have some serious issues with the truth and those who post it in this message board
ZZZ run straight to the head of that class with me in days. If you support Obama and you read a link I provide you do not like, go send the time and do your DD, don not blame me.
When we were talking about invading Iraq Hans Blix I seen as a left leaning check on GWB. thats why I use that speech when that subject comes up, as did GWB

This is your problem is that you think cherry picking equals facts. The the fact that you still think Iraq had WMDS is just more evidence that you are 100% clueless

 

[starcraftzzz]

[

Stop smoking
I at times am left in a place that I lack the words to move a debate forward
BHO has a full on war against the wealthy, the point of the article as i asses it is to show just how childish the class warfare game is

Your talking about adding the tax burden on people who for the most part are paying all of the taxes with a message that makes them out as "evil"

I am all for tax reform. I think every-one should be paying some tax, every-one
I Think a fair tax type system is out best path forward, as i understand it there is a poverty level in that idea that pays none
Having issues with your tax assessed on you home is a County and or Parrish issue

ROTFL so according toy o making it so the rich pay at least the same taxes as the poor is a war on the rich. And you wonder why everyone thinks you are a retard

Retard alert
ROTLF so according to you wall mare in g human being.
Name one policy of obamas that will hurt someone.

To start with it matters not only who pays what, but what is paid by who
Income and capital gains are 2 totally different taxes, yet if Buffet as well as BHO had there way we would never know that

You damn right it matters.
We need a budget that is based on the 07 budget, get back to 5% UE and end the war in Afghanistan when it the military says its time and we would have a balanced budget

Are you stupid? The 2012 budget is based of the 07 budget, its just had additions and subtractions.
Furthermore I like how you are so dumb that you think saying "we need UE to get back down to 5%" is actually a policy that.
Furthermore you are also a retard given that you support a balanced budget which would result in UE skyrocketing to 18%

Maybe I do not understand your thread
To invest capital to make gains, at some point in time that wealth has been taxed as income
To tax that wealth again makes no sense, at least not the same income is taxed

Whats the incentive?

To create jobs we must have investment

1) Retard money you get from investment has not been already taxes, its only the money you originally invested
2) The incentive is to make more money; making it s capital gains taxes equal income taxes doesn't change the fact that investing in capital gains taxes makes you richer

 

[starcraftzzz]

To start with it matters not only who pays what, but what is paid by who
Income and capital gains are 2 totally different taxes, yet if Buffet as well as BHO had there way we would never know that

I think that's kinda the point. Why should they be different? There's no logical reason to tax labor and ingenuity more than luck.

Those who have earnings from investment don't have to invest. If they don't invest there will be less new jobs for those who need them for earning a living. People who have built up wealth don't have to put it at risk (luck of the marketplace) so to encourage risk taking they should be taxed less on those type earnings.

Listen to how stupid you sound, "people will stop wanting to make money if instead of making 1million dollars they instead my 900,000 dollars". Furthermore the rich can either invest money or spend money either way the money circulated in the economy; and in fact more spending would result in less speculation, and bubbles of which caused the last two recessions

 

[starcraftzzz]

There are three ways to argue that capital gains are double taxed (or simply overtaxed). All three are real and cannot be denied by Democrats.

(1) All taxation of saving is a form of double taxation. This observation is nothing new to economists. For example, in 1848 the British philosopher and economist John Stuart Mill wrote: "Unless . . . savings are exempt from tax, the contributors are taxed twice on what they save, and only once on what they spend." Since then, economists have often said things like "income from saving is taxed twice." This is another way of saying an income tax is biased against saving -- a bias not shared by a consumption tax.

Jesus. If we follow your logic me getting taxed on my regular income next year would be double taxation because i was taxed on my income last year.

(2) Profits giving rise to capital gain on equities have already been subject to corporate tax. There is no good economic justification for the corporate tax. It is unfair and inefficient to tax profits first with the corporate tax and then again with an individual tax either on dividends or capital gains.

I see so according to you income taxes are double taxed because people are employed by corporations

(3) Inflationary gains are not real income and should not be subject to tax. The relative stability of the price level over the past three decades has greatly reduced concerns about the highly detrimental effects of inflation on the operation of the income tax. But even at low levels, inflation overstates returns to capital. One manifestation of this problem is the taxation of inflationary gains as if they represented appreciation in real value.

Are you to stupid to realize that when you buy something every year that goes of its value declines? So what you are saying is that you really just want inflation taxes to fall only on the poor and not the rich

PLz come back when you are able to think beyond a 1st grade leve