Winston
Platinum Member
Oh that is rich. They "earned" it? Then how come they call it "UNEARNED INCOME"? And better, if they "earned" it, then they can pay taxes on it as if they "earned" it. That is fine by me. Now, they pay 24.7%. With an ACA repeal they pay 20.0%. But if they paid taxes on that income like they pay on their EARNED income it would be 39.6%.
Do have even the slightest clue what you are talking about? The only "unearned" income is stolen, like taxes.
Look, if you don't understand the difference between earned and unearned income you are wasting my time. Your spouting of nonsense memes like collecting taxes is equal to stealing only confirms your ignorance.
This "bill" is about 4.7%. A 4.7% that probably nobody on this board has any experience with. A 4.7% that you will not hear talked about on the news. It is like it is a big secret.
Hell, FOX News, today--880 billion dollars in tax cuts, they claim it is a taxcut for the middle class and "working" Americans. What a damn lie. No one making a quarter million dollars a year is in the "middle class". Especially not with a significant amount of "unearned income".
And almost every dollar of the cost comes from Medicaid. The rest is just a bunch of shuffling around costs, from the weak to the powerful. The cost all come out of Medicaid and the savings all go in to the pockets of those making more than a quarter million dollars a year. Morally, it is nothing short of reprehensible. And yeah, Karma really is a bitch. Congress passes this there will be consequences, big consequences.
Simple. Give me an example of unearned income.
Unearned Income
Unearned is it? I'm taking money that I earned and I'm gambling it on a stock. I investigated that company thoroughly and put my earned income at risk. I earned it. Try again.
LOL, nice try but "unearned income" has a very specific definition and I provided it to you. But damn, listen to yourself. You used the word "gamble". Just how fubared is our tax system.
Take a surgeon. Let's say he is world class. He makes a good three hundred thousand a year doing surgery. Maybe he makes another hundred thousand teaching his skill. Our tax system taxes that income, his "earned income" at 39.6%.
Now, doctors in general and surgeons in particular, are often quite illiterate when it comes to finance. But if this surgeon "gambles" in the stock market and makes money he is currently taxed at 24.7%. If this repeal passes, it will be 20.0%.
How screwed up is that? Our tax system is telling this surgeon, and telling every other professional, to stop doing what they do best and start GAMBLING in the stock market. It has been telling them that since Ronald Reagan. It is STUPID. It is beyond STUPID. It makes no sense except for one, just one, area of the economy. The finance industry. And it is exactly that particular industry that has made out like a bandit over the last thirty years.