Payroll Income vs. Capital Income

Discussion in 'Politics' started by LeftofLeft, Apr 13, 2012.

  1. LeftofLeft
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    LeftofLeft Gold Member

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    This is nothing new but cannot be emphasized enough. The President and his Buffet Rule Mantra conveniently leave the distinction out of the debate. It is important for American people to realize that Warren Buffet's secretary is taxed more than Warren Buffet because his secretary's tax rate is largely based on her salary where has Warren himself is taxed at a lower rate BECAUSE all of his income is from Capital Gains, which is a lower rate. WHY is it a lower rate? Because it is a gain from capital invested by Warren. Capital is largely money that Warren has THAT HAS ALREADY BEEN TAXED. He is risking it to invest in other companies. If the gets a positive return, he is taxed but not taxed as high as the rate of the salary he pays his secretary, other employees, or himself (if he pays himself a salary).

    This is all designed to increase taxes, salary and captial gains, to higher rates. This is being sold to the American people under the guise of "fairness" as the millionaires will now pay their share. But, Americans should think twice; in particular, Seniors living in retirement off the Capital Gains from their investments. Think Seniors are eager to pay 25% vs. 15% on income??
     
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  2. SniperFire
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    SniperFire Senior Member

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    Good luck with that. Lefty does not want to hear it.


    Somebody else has it, and they want it.
     
  3. Skull Pilot
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    Skull Pilot Platinum Member

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    Not all Buffets income is from capital gains.'

    Berkshire Hathaway Pays him 100K a year.

    He is scamming the system. If I tried to pay myself 20K a year and took the rest of my salary as dividends from my S corp I'd be slapped with fines and penalties for not paying myself enough and could very well lose my corporate status

    The question is, How can Buffett get away with it and still owe a billion in back taxes.

    The answer is he has corrupt politicians like Obama in his pocket.
     
  4. Trajan
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    Trajan conscientia mille testes

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    your point has been made here before,but is always worth a look again.
     
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  5. Trajan
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    Trajan conscientia mille testes

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    buffett is a fraud and so is the whole secretary thing.
    Bloomberg did a work up on her taxes , even with some info not available she earns north of 200K easily. That puts her in what percentile? hey she should pay her fair share right, so there is no argument based on that BS.
     
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  6. buckeye45_73
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    buckeye45_73 Lakhota's my *****

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    Just get rid of these taxes and do a national sales tax. Income shouldnt be taxed, buying twinkies and porn DVDs should be. It would encourage people to invest, and not waste money on crap, just sayin
     
  7. saveliberty
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    saveliberty Diamond Member

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    ...but liberals are so much smarter than the rest of us. They know how to use the money better. If only they could have yours or figure out how to make it themselves, they'd show us.
     
  8. Trajan
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    Trajan conscientia mille testes

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    no, no way, thats a trap. look at the vat in the EU.
     
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  9. Intense
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    Intense Senior Member

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    I wouldn't have a problem with All Income being Taxed at the same rate. It might mean Capital Gains being taxed slightly higher, and Wage Income taking a cut. Retirement Income can still have protections, up to a certain amount. To me, the important factor is that every one of us should be paying something when we generate income. Too many are not only getting a free ride, but get compensated through Earned Income Credit. It's real easy to get Votes and support to propagate Selfishness. Each of us benefit from the Infrastructure. Each of us have a part in maintaining it. It is easy to blame the Rich, for our own failures, real convenient too. Until one learns to get off of his/her ass, nothing is going to satisfy or be enough.
     
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  10. freedombecki
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    freedombecki Let's go swimmin'! Supporting Member

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    Your intentions are good, but taxing food would be like taxing tea, and we already been there, done that two and a third centuries ago.

    Won't somebody please put Steve Forbes on the think tank for new methods of taxation that will bring America's ratings back up?
     
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