Dad2three
Gold Member
But only when the Cap Gains are REALIZED, and then at a lower rate then wage income. Until the Cap Gain is realized/cashed in, it grows TAX FREE like an unlimited IRA but with no early withdrawal penalty and at a lower tax rate when cashed in no matter what your age. If you lose money on your Cap Gains you get to deduct it from your taxes, so Cap Gains are a risk free investment. And still the wealthy bitch that they are over taxed. They should have their taxes raised 1% automatically every time they bitch!You listen to Rush. i don'tAgain, it is the top 10% of WAGE EARNERS, not the top 10% of wealth!National Taxpayers Union - Who Pays Income TaxesThey are finding legal loopholes to get out of paying taxes. I disagree they pay the bulk of the taxes.
The top 10% of earners pay more than 70% of all income taxes. There aren't as many loopholes as you think
Learn the difference, take a lesson from your MessiahRushie Limbola:
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
And it's the people on this thread confusing income and wealth. But capital gains are reported on income tax filings so the so called wealthy that pay capital gains are paying income taxes.
Maybe you should figure out what you're talking about.
January 09, 2013
RUSH: Taxing wages at a higher rate than profits is wealth redistribution.
I know how capital gains work. They are still income taxes and are taxed more than some earned income and less than other earned income.
And you really should wonder who is screwing the middle class when the government taxes all the gains in a retirement plan as regular income and not capital gains.
And your max deduction for losses is only 3000 a year or didn't you know that either. You can't take a bath and write off millions in losses.
And I have to ask how much of your day do you spend taking notes on what Rush Limbaugh says?
Actual losses ABOVE your capital gains? lol