Sallow
The Big Bad Wolf.
The capital gains tax rate is 15%. I'm not sure how you can declare that fact "bullshit". it's just a fact.
Shit..beat me to it.
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The capital gains tax rate is 15%. I'm not sure how you can declare that fact "bullshit". it's just a fact.
They should toss the tax code out the window and revamp the whole thing. Everybody in America should pay taxes at the very same rate. Just for conversation, let's say everybody pays 10% federal income tax. No exemptions. No deductions. If you make $500 a year your tax is pretty simple. You pay $50.00. If you make $5,000 a year, here again, pretty simple. You pay $500 in federal income taxes. Regardless of your income, you pay 10%. This way, everybody has a dog in the hunt and everybody is taxed equally and fairly. I'm tired of hearing all the whining from Obama about the "rich not paying their fair share." The rich pay far more taxes than anybody else does in this country. Let's talk about at almost 50% of the population that pay no federal income taxes. Their free loading ride should be over before the so called rich pay more.
The capital gains tax rate is 15%. I'm not sure how you can declare that fact "bullshit". it's just a fact.
Shit..beat me to it.
The capital gains tax rate is 15%. I'm not sure how you can declare that fact "bullshit". it's just a fact.
Shit..beat me to it.
Have you read the rest?
The only way to qualify for a personal tax rate of 15% the investor has to own shares of a corporation that pays between 34 and 39% corporate income tax.
Buffett's talking point that is oft repeated is complete bullshit.
I've been hearing more and more of this nonsense that "the rich" only pay 15% of their income due to the low capital gains tax rates. Barring specific rare loopholes, how does someone who earns the bulk of their money through investing pay only this rate?
I think the talking point is bullshit, but I'll gladly admit I'm wrong if someone has some actual facts.
Shit..beat me to it.
Have you read the rest?
The only way to qualify for a personal tax rate of 15% the investor has to own shares of a corporation that pays between 34 and 39% corporate income tax.
Buffett's talking point that is oft repeated is complete bullshit.
First off..it's not bullshit.
Secondly there's plenty of ways to beat the tax man. There is "deferred income", there are stock awards, and all sorts of compensation schemes that hide income. All are perfectly legal as well.
If you have the money..hiring smarties to help you keep your dough ain't a problem.
I've been hearing more and more of this nonsense that "the rich" only pay 15% of their income due to the low capital gains tax rates. Barring specific rare loopholes, how does someone who earns the bulk of their money through investing pay only this rate?
I think the talking point is bullshit, but I'll gladly admit I'm wrong if someone has some actual facts.
I've been hearing more and more of this nonsense that "the rich" only pay 15% of their income due to the low capital gains tax rates. Barring specific rare loopholes, how does someone who earns the bulk of their money through investing pay only this rate?
I think the talking point is bullshit, but I'll gladly admit I'm wrong if someone has some actual facts.
Everyone pays 15% of capital gains.
The rich pay more than the poor in Income taxes
What is happening is some dishonest people (warren buffet) are telling you the rich pay less in income taxes then the poor. What he is doing is claiming the capital gains tax is his personal income tax rate however he is lying when he says that.
http://www.irs.gov/pub/irs-pdf/i1040tt.pdf <----scroll to the bottom, page 98, and look at the tax tables. Its is plain as day that the more you make the higher a percentage of your income you pay in personal income taxes.
I didn't read any other posts but the first one in the thread, if you disagree with my assesment (anyone) feel free to bring it
That's true.
But back to the bullshit line that the capital gains rate is too low at 15% and Buffett saying he is taxed at a lower rate than his Secretary.
As a shareholder in a company, you assume your part in the payment of the company's taxes. Not only does it affect your dividend, it affects your capital gain. If a company's tax rate was reduced, that newly added amount of earnings increases the company's stock price. And vice versa.The capital gains tax rate is 15%. I'm not sure how you can declare that fact "bullshit". it's just a fact.
That's the capital gains rate of a personal realization of a long term investment. Corporate taxes are also paid on the gains but are paid before the investor is paid. The other way is to files as an S-Corporation where all income passes through to the owners and those earnings (even if left in the company) are all taxed at the personal income rate.
But the investor doesn't pay the corporate taxes, they only pay taxes on the income that is distributed to them via a realized gain.
They are not considered personal income. They are considered corporate income, taxed at the corporate income tax rate (currently 34-39% above $100K at the federal level).
um no.
one does not have to be a corp to pay capital gains.
Capital Gain Definition
What Does Capital Gain Mean?
1. An increase in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A capital gain may be short term (one year or less) or long term (more than one year) and must be claimed on income taxes. A capital loss is incurred when there is a decrease in the capital asset value compared to an asset's purchase price.
2. Profit that results when the price of a security held by a mutual fund rises above its purchase price and the security is sold (realized gain). If the security continues to be held, the gain is unrealized. A capital loss would occur when the opposite takes place.
1. Long-term capital gains are usually taxed at a lower rate than regular income. This is done to encourage entrepreneurship and investment in the economy.
Corporations do not pay capital gains tax. They pay income tax.
http://www.irs.gov/pub/irs-pdf/f1120.pdf
The capital gains tax rate is 15%. I'm not sure how you can declare that fact "bullshit". it's just a fact.
That's the capital gains rate of a personal realization of a long term investment. Corporate taxes are also paid on the gains but are paid before the investor is paid. The other way is to files as an S-Corporation where all income passes through to the owners and those earnings (even if left in the company) are all taxed at the personal income rate.
But the investor doesn't pay the corporate taxes, they only pay taxes on the income that is distributed to them via a realized gain.
I am still not sure how 40+% of the population pay no tax. Even welfare recipients should have to pay something. I like the flat tax. If I buy a $1,000 car I pay for the value if you buy a $100,000 car you pay 100 time more than I do.
40% of the population don't pay "no tax". Every American with a job pays between 7.65% and 15.3% of their first 106,000 of earnings in federal taxes. They also pay a host of other taxes.
They should toss the tax code out the window and revamp the whole thing. Everybody in America should pay taxes at the very same rate. Just for conversation, let's say everybody pays 10% federal income tax. No exemptions. No deductions. If you make $500 a year your tax is pretty simple. You pay $50.00. If you make $5,000 a year, here again, pretty simple. You pay $500 in federal income taxes. Regardless of your income, you pay 10%. This way, everybody has a dog in the hunt and everybody is taxed equally and fairly. I'm tired of hearing all the whining from Obama about the "rich not paying their fair share." The rich pay far more taxes than anybody else does in this country. Let's talk about at almost 50% of the population that pay no federal income taxes. Their free loading ride should be over before the so called rich pay more.
The capital gains tax rate is 15%. I'm not sure how you can declare that fact "bullshit". it's just a fact.
Shit..beat me to it.
Shit..beat me to it.
Have you read the rest?
The only way to qualify for a personal tax rate of 15% the investor has to own shares of a corporation that pays between 34 and 39% corporate income tax.
Buffett's talking point that is oft repeated is complete bullshit.
First off..it's not bullshit.
Secondly there's plenty of ways to beat the tax man. There is "deferred income", there are stock awards, and all sorts of compensation schemes that hide income. All are perfectly legal as well.
If you have the money..hiring smarties to help you keep your dough ain't a problem.
If you earn your income from investing you pay a lower rate than if you earn your income by laboring.
Not sure why people don't see the inherent unfairness of that.