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What most WEALTHY retirees you should have said!Seems to me you should be bitching about the taxes on wages and salaries being too high, not investment and cap gains incomes (which is what most retirees live off of) being too low.
Hmmmm?
Even your MessiahRushie for years admits the income tax and cap gains tax rates are a scam, of course, he says that to attack Buffett and not people like Bishop Willard. He repeated it again yesterday.
August 7, 2007
CALLER: And, you know, and the way our tax system works, we have an overly complex system, which in and of itself is a problem, but the way our tax system works and the way the tax laws are written, it's based on a few kind of like hinge numbers like adjusted gross income and taxable income, and while the soak the rich -- or however you choose to describe it -- really doesn't come down that way. It really comes down to much lower income levels.
RUSH: It does, exactly, and here's the dirty little secret if you ever to pull it off. It's hard. This is why most people don't understand the tax-the-rich business. You've got to structure your life so you have no "earned" income. I'm out of time. I'll explain that. There's a category called earned income versus other kinds of income. Earned income is what the income tax rate is on. That's how "the rich" do it. They don't have "earned" income.
END TRANSCRIPT
The Truth About Taxes
August 6, 2007
RUSH: I've told you before: the income tax is designed to keep people like his [Buffett's] secretary from becoming wealthy! There is no "wealth" tax. So this is a big misnomer. ...
But there's no tax on wealth. There is a tax on income, and the tax on income is designed to keep everybody who is not wealthy from getting there.
I'm talking about genuine wealth, not the way Democrats define "rich."
December 06, 2012
RUSH: The problem is, in Warren Buffett's case, you could raise the income tax rate to a hundred percent and you're gonna be collecting taxes on about $120,000 of income. The rest of his income is not earned, so to speak. It's dividend, capital gains. He's got his wealth. You're going to have to institute a wealth tax to go get people like Buffett and many moguls and many executives. They've insured themselves.
You have to understand, the income tax is to prevent you from accruing wealth.
Seems to me you should be bitching about the taxes on wages and salaries being too high,not investment and cap gains incomes (which is what most retirees live off of) being too low.
Hmmmm?
Repeating your lie with added insults does not make it true. Most retirees do not have enough cap gains income to "live off of" as you falsely claim, only the truly wealthy do. The top 20% have 90% of the cap gains income and the top 20% is NOT the middle class.Piss off, hater.
Monies in pension funds, IRAs and 401ks - the retirement plans of the middle class- almost invariably end up in securities subject to cap gains and dividend taxation.
The hating hater deflection to Limpbagh notwithstanding, your class warrior hater dog don't hunt no more, comrade.
Seems to me you should be bitching about the taxes on wages and salaries being too high,not investment and cap gains incomes (which is what most retirees live off of) being too low.
Hmmmm?Repeating your lie with added insults does not make it true. Most retirees do not have enough cap gains income to "live off of" as you falsely claim, only the truly wealthy do. The top 20% have 90% of the cap gains income and the top 20% is NOT the middle class.Piss off, hater.
Monies in pension funds, IRAs and 401ks - the retirement plans of the middle class- almost invariably end up in securities subject to cap gains and dividend taxation.
The hating hater deflection to Limpbagh notwithstanding, your class warrior hater dog don't hunt no more, comrade.
You are a perfect example of the deliberate deception of the CON$ervoFascist Brotherhood. While it is true that many middle class workers each have a very tiny amount of cap gains income in an IRA or 401k, it is but a drop in the bucket compared to the truly wealthy and hardly enough for anyone in the middle class to live off of, as you well know. So bringing it up on your part was solely meant to be deliberately deceptive.
Thank you.
You can repeat your lie with an unlimited amount of insults and it will still be no less of a lie.Given your each and every post is an insult to anyone with even a modicum of intelligence, you have zero wiggle room to snivel when your insults of arrogance, ignorance and blind hatred get thrown back in your face.
None of which changes the fact that retirees, pensioners and others who've saved up their whole lives derive their relatively fixed incomes from exactly the investment instruments that hater gasbags like you want to tax the living shit out of.
If anyone hates oldsters, it's commie hating hater fuckwads like you.
Quick Question.
Were we subsidizing Ethanol because we were taxing it 23 cents less per gallon than gasoline?
No, we were taxing it 23 cents a gallon less. Are we subsidizing orange juice because we tax beer at a higher rate?
You got your ass handed to you on the subsidies thread. Yes we are subsidizing the rich. That is a fact as you well know & continue to lie about.
The fact is the middle class needs a tax cut or we must raise taxes on the rich or both. Currently the middle class is subsidizing the rich. The government has set up an uneven playing field by taxing the rich far less than the middle class.
- KissMy (middle class job creator) produces widgets & gets taxed at 28%.
- Mitt Romney (entitled rich pussy) produces widgets & gets taxed at 13%.
Now Romney can produce widgets & sell them for profit cheaper than KissMy. KissMy middle class ass goes under & becomes KissMy poor broke ass. Romney acquires KissMy widgets from bankruptsy for a fire-sale price of 10 cents on the dollar. He has taken over the assets & market thus has more tax revenue but still lower tax rates enabling him to unfairly compete & destroy another middle class job creator.
We are also forced to subsidize the rich's flood insurance. They are the ones who own most of the beech homes & benifit the most from that massive subsidy. To top it off we had to bail out their banks. All accounts are FDIC insured up to $250K. But the rich had much more than that in their accounts. $2.5 trillion of their bad bets & debts got rolled onto the ballance sheet of the Federal Reserve where they remain to this day even as they lie & say they paid us back.
Repeating your lie with added insults does not make it true. Most retirees do not have enough cap gains income to "live off of" as you falsely claim, only the truly wealthy do. The top 20% have 90% of the cap gains income and the top 20% is NOT the middle class.Seems to me you should be bitching about the taxes on wages and salaries being too high,not investment and cap gains incomes (which is what most retirees live off of) being too low.
Hmmmm?
You are a perfect example of the deliberate deception of the CON$ervoFascist Brotherhood. While it is true that many middle class workers each have a very tiny amount of cap gains income in an IRA or 401k, it is but a drop in the bucket compared to the truly wealthy and hardly enough for anyone in the middle class to live off of, as you well know. So bringing it up on your part was solely meant to be deliberately deceptive.
Thank you.
You can repeat your lie with an unlimited amount of insults and it will still be no less of a lie.Given your each and every post is an insult to anyone with even a modicum of intelligence, you have zero wiggle room to snivel when your insults of arrogance, ignorance and blind hatred get thrown back in your face.
None of which changes the fact that retirees, pensioners and others who've saved up their whole lives derive their relatively fixed incomes from exactly the investment instruments that hater gasbags like you want to tax the living shit out of.
If anyone hates oldsters, it's commie hating hater fuckwads like you.
The fact remains that the top 20% have 90% of the cap gains wealth and are the only ones who can live off of their investments. The other 80% of the workers combined have only 10% of the cap gain wealth to live off of and all it does is supplement their social security at best.
Admit it, you got caught mindlessly parroting your MessiahRushie's lie because you are too lazy to check anything and too stupid to think for yourself.
I even failed to mention that the Middle Class pays a larger percent of SS, Medicare, FICA, Unemployment, State & Local Taxes than the top 1%. That is even a greater tax subsidy they receive beyond the Federal income tax code.
It is hard to compete against a monopoly that you are forced to subsidize. Why are their supporters so afraid to level the playing field & give the Middle Class a Tax Cut????
I even failed to mention that the Middle Class pays a larger percent of SS, Medicare, FICA, Unemployment, State & Local Taxes than the top 1%. That is even a greater tax subsidy they receive beyond the Federal income tax code.
It is hard to compete against a monopoly that you are forced to subsidize. Why are their supporters so afraid to level the playing field & give the Middle Class a Tax Cut????
For SS, Medicare and Unemployment the middle class is the group that get the benefits. The rich usually do not use any of those, because they are rich. So they get no return on thier investments.
As for FICA, it covers mostly middle class savings, if someone with more than $100k is in a failed bank, they lose the excess.
State and local taxes are mostly paid by richer people, just like federal taxes.
The problem, of course, is that it becomes difficult for the average person to price stocks and houses because of all the hot money interference that is swooping down on these assets. These assets become commodities in and of themselves, and massive buying creates scarcity, even though demand from all but the 1 percent is down.
Gambling in the housing market by the 1 percent, not as Rick Santelli says, the average buyer, is just wrong. Shelter should not be subject to this game. Mitt Romney is a predator just like his dad, who had to terminate subprime programs because of predatory lending and flipping. Sound familiar?
Just remember, George Romney punished job creators, small business, when he helped to allow big business and mortgage originators access to global capital markets (hot money), but not small business. Small business owners should be under no false illusion. Mitt Romney will be his dad, and will not be in the camp of small business owners.
The difference between George Romney's time and Mitt Romney's time, of course, is that back then, the US was a sovereign nation able to put a quick stop to easy money shenanigans. That is no longer the case, as the capital markets are now sovereign, or nearly sovereign. Nothing will stop the easy money once the bankers determine the time for another financial attack.
If a rich person Mitt Romney only pays 13% & a middle class person KissMy pays 28%, the middle class is subsidizing the rich.
The Middle Class should a class action law suit against Plutocrats & the Rich for being forced to subsidize the Rich with taxes. Strip them of the wealth they have acquired via the tax subsidy, racketeering & unfair business trade practice. Are there any lawyers here that will help file?
Facts from the IRS: From 2001 to 2007 the people with the highest income got the biggest percentage cuts in their actual tax payments. The middle class had to subsidize the rich even more than before. It is time to end the tax subsidy to the rich. The middle class is tired of carrying your fat ass along with the poor. Get off the back of the Middle Class & help us carry the poor.
If a rich person Mitt Romney only pays 13% & a middle class person KissMy pays 28%, the middle class is subsidizing the rich.
It is the same as when tax on ethanol was 25 cents a gallon & gasoline tax was 45 cents a gallon. You people screamed that we were subsidizing ethanol even when ethanol was being taxed.
There is no way in hell a middle class person paying 28% tax can produce widgets cheaper than a rich person only paying 13% tax. This tax rate causes the middle class to go out of business & the rich takes over the entire market. The middle class business owner & workers are forced into poverty & onto the government dole that the rich refuses to pay for.
The Middle Class should a class action law suit against Plutocrats & the Rich for being forced to subsidize the Rich with taxes. Strip them of the wealth they have acquired via the tax subsidy, racketeering & unfair business trade practice. Are there any lawyers here that will help file?
Facts from the IRS: From 2001 to 2007 the people with the highest income got the biggest percentage cuts in their actual tax payments. The middle class had to subsidize the rich even more than before. It is time to end the tax subsidy to the rich. The middle class is tired of carrying your fat ass along with the poor. Get off the back of the Middle Class & help us carry the poor.
If a rich person Mitt Romney only pays 13% & a middle class person KissMy pays 28%, the middle class is subsidizing the rich.
It is the same as when tax on ethanol was 25 cents a gallon & gasoline tax was 45 cents a gallon. You people screamed that we were subsidizing ethanol even when ethanol was being taxed.
There is no way in hell a middle class person paying 28% tax can produce widgets cheaper than a rich person only paying 13% tax. This tax rate causes the middle class to go out of business & the rich takes over the entire market. The middle class business owner & workers are forced into poverty & onto the government dole that the rich refuses to pay for.
I even failed to mention that the Middle Class pays a larger percent of SS, Medicare, FICA, Unemployment, State & Local Taxes than the top 1%. That is even a greater tax subsidy they receive beyond the Federal income tax code.
It is hard to compete against a monopoly that you are forced to subsidize. Why are their supporters so afraid to level the playing field & give the Middle Class a Tax Cut????
For SS, Medicare and Unemployment the middle class is the group that get the benefits. The rich usually do not use any of those, because they are rich. So they get no return on thier investments.
As for FICA, it covers mostly middle class savings, if someone with more than $100k is in a failed bank, they lose the excess.
State and local taxes are mostly paid by richer people, just like federal taxes.
SS, Medicare and Unemployment is insurance that also covers the Top 1%. They may not be on top in the future.
The Rich pay a much lower percent of income on State & Local taxes.
FICA bailed out all the largest banks & the top 1% way more than the poor or Middle Class. We have lost thousands of small banks.
Retired people living off of cap gains aren't "workers", by definition, you blind hack commie fuckchop.Repeating your lie with added insults does not make it true. Most retirees do not have enough cap gains income to "live off of" as you falsely claim, only the truly wealthy do. The top 20% have 90% of the cap gains income and the top 20% is NOT the middle class.Seems to me you should be bitching about the taxes on wages and salaries being too high,not investment and cap gains incomes (which is what most retirees live off of) being too low.
Hmmmm?
You are a perfect example of the deliberate deception of the CON$ervoFascist Brotherhood. While it is true that many middle class workers each have a very tiny amount of cap gains income in an IRA or 401k, it is but a drop in the bucket compared to the truly wealthy and hardly enough for anyone in the middle class to live off of, as you well know. So bringing it up on your part was solely meant to be deliberately deceptive.
Thank you.
You can repeat your lie with an unlimited amount of insults and it will still be no less of a lie.Given your each and every post is an insult to anyone with even a modicum of intelligence, you have zero wiggle room to snivel when your insults of arrogance, ignorance and blind hatred get thrown back in your face.
None of which changes the fact that retirees, pensioners and others who've saved up their whole lives derive their relatively fixed incomes from exactly the investment instruments that hater gasbags like you want to tax the living shit out of.
If anyone hates oldsters, it's commie hating hater fuckwads like you.
The fact remains that the top 20% have 90% of the cap gains wealth and are the only ones who can live off of their investments. The other 80% of the workers combined have only 10% of the cap gain wealth to live off of and all it does is supplement their social security at best.
Admit it, you got caught mindlessly parroting your MessiahRushie's lie because you are too lazy to check anything and too stupid to think for yourself.
The Middle Class should a class action law suit against Plutocrats & the Rich for being forced to subsidize the Rich with taxes.
Strip them of the wealth .
