GoneBezerk
Rookie
- May 14, 2011
- 7,603
- 493
- 0
- Banned
- #21
Idiot....there is no gurantee one gets their investment money back or makes a dime on their investment.
Say you are a bagger at a grocery store that works on tips but you have to put $10 into a pot at the store to be allowed to work that day with no gurantee you will get your $10 back after working that day. Would you think it's fair you pay the same rate in taxes on your tips as some cashier that is guaranteed to make $10 every day just showing up for work.
Say you are a bagger at a grocery store that works on tips but you have to put $10 into a pot at the store to be allowed to work that day with no gurantee you will get your $10 back after working that day. Would you think it's fair you pay the same rate in taxes on your tips as some cashier that is guaranteed to make $10 every day just showing up for work.
For the stupid people out there...
Let's say Joe Schmoe makes $100,000 and that is taxed at 20%, so he pays 20,000 in income taxes.
He has $80,000 left over to eat, party, etc so he goes wild and invests $10,000 of it for his retirement someday.
Now, why would he invest that $10,000 if he is going to pay 20% or higher again? That money has already been taxed before. He would be better off going on vacation, buying a new car and some new clothes with that money than taking a risk losing that $10,000 while being taxed all over again like the first time if he doesn't lose his investment.
Why would he have to pay tax on the invested principle?!?
It's the income stream that the investment generates that's subject to taxation, not the principle invested.
That's FUNNY, Dude!
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