Debunking Liberal Myths About the Rich and the Capital Gains Tax

[Dadoalex]

Start a thread on that. You butted your ignorant nose into my topic, Dem vulture taxes on people's homes in my blue Dem idiot run state.

Well, you live there so..."idiot" is probably a fair description.

BUT

You did equate capital gains tsx to sales tax.
That bit of ignorance says what we need to know of your grasp of "your" topic.

 

[Dadoalex]

Yes these Dem vulture state taxes are on top of federal and state capital gains taxes. Ugh I'm done trying to explain it to you, repeat the 3rd grade. alert!

You couldn't explain pissing without getting your pants wet.
You think sales taxes and capital gains taxes are the same.
That's all we need to know.

 

[BluesLegend]

Well, you live there so..."idiot" is probably a fair description.

BUT

You did equate capital gains tsx to sales tax.
That bit of ignorance says what we need to know of your grasp of "your" topic.

You have my permission to go now I'm done with you

 

[Dadoalex]

You have my permission to go now I'm done with you

You know where the ignore button is.

 

[jc456]

As I pointed out early birdbrain, Florida and Ohio charges taxes on the sales price of properties

Every state does

 

[Dadoalex]

Every state does

I know but some think is some Democratic plot.

 

[BluesLegend]

You know where the ignore button is.

 

[jbander]

I know but some think is some Democratic plot.

All around across the board the right are either lying or saying something so stupid you just have to laugh, The whole MAGA stupidity now is hate based and ignorant. All you have to do to realize this is read their response or listen to any of them talk online on video on tv. They are as dumb as doorknobs,.

 

[jc456]

I know but some think is some Democratic plot.

those some are wrong.

 

[Toddsterpatriot]

All around across the board the right are either lying or saying something so stupid you just have to laugh, The whole MAGA stupidity now is hate based and ignorant. All you have to do to realize this is read their response or listen to any of them talk online on video on tv. They are as dumb as doorknobs,.

You make a doorknob look like a genius.

 

[Dadoalex]

those some are wrong.

Tell them.
They'll claim you're lying but it's fun to piss them off with facts.

 

[jc456]

Tell them.
They'll claim you're lying but it's fun to piss them off with facts.

dude, I don't fking care, they're wrong. Will always be wrong.

Now, some states may allow a deduction at tax time for the sales tax of that purchase.

BTW, buy a car you pay sales tax. Buy anything and one pays sales tax. There may be some local taxes that are or aren't due, but state tax, always due.

 

[Grumblenuts]

dude, I don't fking care, they're wrong. Will always be wrong.

Now, some states may allow a deduction at tax time for the sales tax of that purchase.

BTW, buy a car you pay sales tax. Buy anything and one pays sales tax. There may be some local taxes that are or aren't due, but state tax, always due.

Moron says wut?

States with no sales tax: Here’s what you need to know

There are five states without a general sales tax in the U.S. But did you know they tax certain sales? Here’s what to expect with no sales tax states.

www.avalara.com

 

[jc456]

Moron says wut?

States with no sales tax: Here’s what you need to know

There are five states without a general sales tax in the U.S. But did you know they tax certain sales? Here’s what to expect with no sales tax states.

www.avalara.com

I always knew you were a moron.

You missed my post with local sales tax, duh!!!!!

 

[Rigby5]

Liberals endlessly argue that the rich are not paying their fair share because many rich people do not pay income taxes but "only" pay capital gains taxes. Many rich people do not work for anyone and therefore do not receive a salary--and thus do not pay income taxes. These rich folks earn their money via capital gains and therefore they pay capital gains taxes.

Okay, well, if you make between $47K and $519K in capital gains, your capital gains tax rate is 15%. If you make over $519K in capital gains, your capital gains tax rate is 20%. This is well above the tax rate paid by most employed Americans. Tax data show that 77% of Americans pay an income tax rate of 15%. If your household income is between $22K than $89.4K, your income tax rate is only about 11% (since the income tax is graduated and the first $21K of household income is taxed at a rate of only 10%).

Anyone can confirm these facts by checking the federal capital gains tax brackets and the federal income tax brackets.

So, rich people who earn their money from capital gains do not pay a lower tax rate than most other Americans--they pay a higher tax rate than most other Americans.

Furthermore, these numbers do not include the enormous amount of taxes that many rich people pay in state and local property taxes, and the rich, unlike most other people, do not get a tax deduction for all of those taxes.

Wrong.
While it is true that wealthy paying capital gains pay more tax than most people, the facts are most people are poor and do not pay much tax. The wealthy SHOULD pay much more. And I have paid as much as 35%, before I discovered all the exemptions the wealthy unfairly use. In most of the world, the wealthy elite pay more like 40 to 50% taxes. Only the US allows them to cheat and only pay 20%.

And everyone, including the wealthy, gets a tax deduction for other taxes they pay, like property taxes.

 

[Toddsterpatriot]

And everyone, including the wealthy, gets a tax deduction for other taxes they pay, like property taxes.

Limited to $10,000 by Trump.

 

[Rigby5]

Wow. Your mindset is mind-boggling. The point, which you apparently cannot or will not grasp, is that in most cases capital gains income is not taxed at a lower rate. The majority American households fall into the second income tax bracket, which has a marginal tax rate of only 12%, and the first $22K of their income is only taxed at a rate of 10%. But if you earn $47K in capital gains, your tax rate is 15%.

Wrong.
The fact most people are too poor to pay much in taxes has NOTHING at all to do with the fact the capital gains rate of 20% is way to low for the income they make.
Until I learned how to do the capital gains cheat, I was paying 37% income tax.

 

[Rigby5]

Oh, so now you want to narrow the comparison to a $50K per year worker vs. a billionaire.

Okay, if I earn $1B from long-term capital gains, my tax rate is 20%. If I earn $50K as an employee, my tax rate is no more than 11%.

So it is a lie to say that the rich are not paying their fair share compared to average workers. It is just a lie.

That is a lie.
The point is that if I make something like $100k, I could be paying 24%.
Which is more than the 20% billionaires pay using the capital gains as dodge.

{...
Income between $100,000 and $182,100, pays 24%
Income between $182,100 and $231,250, pays 32%
Income between $231,250 and $578,125, pays 35%
Income over $578,125, pays 37%
...}

 

[Rigby5]

Limited to $10,000 by Trump.

Since property tax is less than 1% in most states, and most home properties only worth about $250k or less, most people are only paying about $2,500 a year on property taxes, so do not exceed the $10,000 limit.

 

[Toddsterpatriot]

That is a lie.
The point is that if I make something like $100k, I could be paying 24%.
Which is more than the 20% billionaires pay using the capital gains as dodge.

{...
Income between $100,000 and $182,100, pays 24%
Income between $182,100 and $231,250, pays 32%
Income between $231,250 and $578,125, pays 35%
Income over $578,125, pays 37%
...}

If you have $100,000 in income you are not paying 24%.