A piece of the GOP platform

[Remodeling Maidiac]

At 24 I was both...poor and struggling. Yet I did own a house and had a small amount in a mutual fund.

I'm sorry if many of the poor are not smart enough to invest what little income they have at their disposal. But that is no reason to punish the rest of them.

 

[edthecynic]

Those who made $50,000 or less annually accounted for 57% of those reporting the sale of capital investments.

Knowledge is your friend.

Especially knowledge of the fact that 57% accounted for 57% of the less than 10% of total capital investments held by the bottom 80%. Again you have a deliberately misleading stat swallowed whole by the most gullible fools.

 

[edthecynic]

Well, there's anyone who owns a home for starters. You sell it for more than you paid... capital gain. You have a mutual fund and you sell a security in said fund for more than you paid... capital gain.

Here's a piece explaining how capital gains tax cuts benefit middle class in Wisconsin, and just how many it can benefit.
Middle Class Benefits Most from Capital Gains Tax Cut | Media Trackers

Your link is a perfect example how professional liars can deliberately deceive by simply leaving out the most important fact!

90% of all stock is owned by the top 20%, so those millions hold a very tiny amount each.

So, because they don't have the bulk of the stock, fuck 'em... let them pay capital gains taxes on it. Got it.

It's a meaningless tax cut designed to set up eliminating capital gains taxes for the few who own 90% of the capital assets. A much better tax cut would be cutting payroll taxes. That would put more money in the hands of those who spend it increasing demand, and it would also reward those businesses who employ AMERICANS, exactly the kind of job creators a real patriot would want to reward.

 

[Darkwind]

Quick question..................how many lower and middle income taxpayers can afford the income required to generate capital gains?

That's just an opening for them to get rid of the capital gains for the uber rich.

Well, there's anyone who owns a home for starters. You sell it for more than you paid... capital gain. You have a mutual fund and you sell a security in said fund for more than you paid... capital gain.

Here's a piece explaining how capital gains tax cuts benefit middle class in Wisconsin, and just how many it can benefit.
Middle Class Benefits Most from Capital Gains Tax Cut | Media Trackers

How many poor people own a home or have a mutual fund?

Just the ones on government assistance.

 

[Darkwind]

You all realize that government isn't here to have a heart, and that we do not, or should not, make laws and policies based on what makes us feel good?

 

[Avatar4321]

Lower income is not poor? Then what is it? Asshole?

A work in progress.

 

[NYcarbineer]

Besides the rest of the ridiculous, cold-hearted party platform, I found this little bit quite funny:

the party would strive to eliminate taxes on interest, dividends and capital gains altogether for lower- and middle-income taxpayers.

So they want to lower taxes on the people who already pay zero in income taxes???

That's the pet peeve of the resident 'nuts.

 

[NYcarbineer]

That will be wonderful. The welfare queens can use the tax savings on their dividend checks from their vast holdings of stock to fly back to Mexico to get their abortions.

 

[Conservative]

Besides the rest of the ridiculous, cold-hearted party platform, I found this little bit quite funny:

the party would strive to eliminate taxes on interest, dividends and capital gains altogether for lower- and middle-income taxpayers.

So they want to lower taxes on the people who already pay zero in income taxes???

That's the pet peeve of the resident 'nuts.

really? lower and middle income pays zero in taxes? news to me, since I pay taxers and I fall into the middle category.

 

[Conservative]

Those who made $50,000 or less annually accounted for 57% of those reporting the sale of capital investments.

Knowledge is your friend.

Especially knowledge of the fact that 57% accounted for 57% of the less than 10% of total capital investments held by the bottom 80%. Again you have a deliberately misleading stat swallowed whole by the most gullible fools.

you really dont get it do you.

 

[NYcarbineer]

Besides the rest of the ridiculous, cold-hearted party platform, I found this little bit quite funny:

So they want to lower taxes on the people who already pay zero in income taxes???

That's the pet peeve of the resident 'nuts.

really? lower and middle income pays zero in taxes? news to me, since I pay taxers and I fall into the middle category.

Almost half of households have paid zero federal income taxes in recent years. Look it up.

 

[Luddly Neddite]

Besides the rest of the ridiculous, cold-hearted party platform, I found this little bit quite funny:

the party would strive to eliminate taxes on interest, dividends and capital gains altogether for lower- and middle-income taxpayers.

So, you're not in favor of eliminating taxes for lower and middle income earner. Got it.

Why is it that rw's are unable to read simple declarative sentences?

Would someone please show me where in THIS sentence

Besides the rest of the ridiculous, cold-hearted party platform, I found this little bit quite funny

this is found?

So, you're not in favor of eliminating taxes for lower and middle income earner. Got it.

Seriously folx. We could save a lot of tine if the damn dumb rw's would quit lying about everything. Leave that to your national counterparts cuz they do it SO WELL.

 

[Old Rocks]

Geez, next thing you know, they will be campaigning to end the Death Tax (aka Estate Taxes) on the lower and middle class.

Hoorah for the GOP!

Immie

That has already been eliminated.

 

[auditor0007]

Besides the rest of the ridiculous, cold-hearted party platform, I found this little bit quite funny:

the party would strive to eliminate taxes on interest, dividends and capital gains altogether for lower- and middle-income taxpayers.

Wow, what a break considering how much of those type of earnings that middle and lower income earners have. So, those low income earners who have at best $10 per year in interest are going to save a whole helluva lot, lmao!

 

[Immanuel]

Geez, next thing you know, they will be campaigning to end the Death Tax (aka Estate Taxes) on the lower and middle class.

Hoorah for the GOP!

Immie

That has already been eliminated.

Not sure if you mean the Estate Tax, which still exits or the fact that the poor and middle class are not subject to it.

Which of those did you mean?

If you meant the second part... that was the point of my post. The tax on interest and capital gains is minimal to the poor and middle class. In other words, the GOP is really doing the poor a favor with this one and next they will promise to help the poor even more by eliminating the Death Tax for them. Way to go GOP!

Estate Tax Rate and Limits

Immie

 

[Old Rocks]

All income should be taxed at the same rate. The exemption for capital gains and inheritance is what has created the great wealth disparity in this nation. Theodore Roosevelt was absolutely correct in his reasons for advocating an inheritance tax.

 

[Immanuel]

Besides the rest of the ridiculous, cold-hearted party platform, I found this little bit quite funny:

the party would strive to eliminate taxes on interest, dividends and capital gains altogether for lower- and middle-income taxpayers.

Wow, what a break considering how much of those type of earnings that middle and lower income earners have. So, those low income earners who have at best $10 per year in interest are going to save a whole helluva lot, lmao!

Exactly... and the capital gains on homes might affect the middle class once or twice in a lifetime... might, and not likely significantly.

What the bastards should have done is eliminated the penalty on early distributions of IRAs and 401(k)s especially during times of economic downturns. I spent a lot of the last three years unemployed. I had to drain my retirement funds in order to keep afloat and then the bastards hit me with a 10% penalty plus taxes on top of that.

Immie