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The idea that lower income people who tend to use government services more readily, should pay THEIR FAIR SHARE of the tax burden is gaining traction.Is that so?
Then dispute my claim.
Half of Americans pay no federal income tax - Business - Personal finance - Tax Tactics - msnbc.com
51% of Americans Pay No Federal Income Taxes - Derek Thompson - Business - The Atlantic
Why do half of Americans pay no federal income tax? - CSMonitor.com
Nearly half of US households escape fed income tax - Yahoo! Finance
Idiot
From the yahoo article it states that they (the taxpayor) qualified for enough exemptions and deductions to eliminate liability. So they are wrong because they did it right?
N - it is wrong that half of all wage earners have zero or even negative tax liability for ANY reason. In a country that is bankrupt, we cannot afford to have the IRS pay half of the working population money rather than the other way around.
Period.
Why is income taxed differently and why is this not seen as an unfair situation?
For instance, if you earn a pay check or are self employed you are taxed somewhere between 10% and 35%.
Yet if you earn your income through investments you are taxed a flat 15%.
That's woefully inaccurate. And without a link, nonsense.Why is income taxed differently and why is this not seen as an unfair situation?
For instance, if you earn a pay check or are self employed you are taxed somewhere between 10% and 35%.
Yet if you earn your income through investments you are taxed a flat 15%.
because the income that was invested has already been taxed once.
A lot of corporations don't pay tax. What about that?
Unbelievable.Why is income taxed differently and why is this not seen as an unfair situation?
For instance, if you earn a pay check or are self employed you are taxed somewhere between 10% and 35%.
Yet if you earn your income through investments you are taxed a flat 15%.
Actually not quite true.. Cap Gains have both short and long term rates. And I believe they are already indexed somewhat to income (or WERE before the Bush cuts).
The reason for this is when you make an investment, you've PAID taxes on that money already. Not fair to tax proceeds from that principle at the same rate as some totally NEW income like salary..
It's to ENCOURAGE RISK.. Something that's a totally foreign concept to lefties..
It's not to encourage risk. Encouraging risk isn't necessarily a good thing. (See: Financial Crisis 2008- )
It is to avoid taxing savings. Savings is the capital stock and thus productive capacity of the nation.
So? Why do you people keep babbling about that? Of course it's already been taxed once and it won't be taxed again. Only the profits will be taxed.Why is income taxed differently and why is this not seen as an unfair situation?
For instance, if you earn a pay check or are self employed you are taxed somewhere between 10% and 35%.
Yet if you earn your income through investments you are taxed a flat 15%.
because the income that was invested has already been taxed once.
Now, moving along, where is the fairness in charging on tax rate for one type of income vs. another tax rate for another type of income?
Nice try. The links and the issue deal with federal income tax liability.False premise means no one will answer your question.
Is that so?
Then dispute my claim.
Half of Americans pay no federal income tax - Business - Personal finance - Tax Tactics - msnbc.com
51% of Americans Pay No Federal Income Taxes - Derek Thompson - Business - The Atlantic
Why do half of Americans pay no federal income tax? - CSMonitor.com
Nearly half of US households escape fed income tax - Yahoo! Finance
Idiot
Simple. You claimed the entire 50% of them also received money back such that they have a negative tax liability. That's not true, and your links don't prove it.
So? Why do you people keep babbling about that? Of course it's already been taxed once and it won't be taxed again. Only the profits will be taxed.
Now, moving along, where is the fairness in charging on tax rate for one type of income vs. another tax rate for another type of income?
So? Why do you people keep babbling about that? Of course it's already been taxed once and it won't be taxed again. Only the profits will be taxed.
Now, moving along, where is the fairness in charging on tax rate for one type of income vs. another tax rate for another type of income?
If you invest $100 and make a 10% return in 5 years, but the inflation has been over 10% over that same period, why should the government tax your "phantom" profits which haven't even kept up with inflation?
u can write off loses.
Good post, and very true overall.Tax systems can be devised sagely to change the way we conduct affairs of society.
Or...
Tax systems can be idevised unwisely to change the way we conduct affiars of society.
If a society, as one example, found itself consuming everything, and lacking in investment capital it would make sense to lower taxation on investments.
If, for another example, a society found itself with far more investment capital than it could efficiently use, then it might make sense in that case to RAISE the taxation on capital gains from investments.
There is no single right path to a healthy macro-economy.
What is a wise policy in one circumstance is unwise in another circumstance.
What astounds me, here, is how many of you people think that there are ironclad RULES that one can follow that will inevitably lead to a healthy economy.
I fail to see how one can be so stupid as to imagine that, but the evidence of such stupidity is found all over this board and other like it all over the net.
I'm still not seeing why it is a good idea to tax labor higher than investment though.
I argue with you often... but I see the merit in your stance here... and I can agree... that whether your 'income' is thru investment or thru labor should be no different... and I don't see it as double taxation especially when if you lose money in your investment, it can be deducted from 'income'....
However... what I do consider double taxation is the estate or death tax... and I see it as incredibly unfair again, because like income taxes, it is done differently depending on the amount... IMHO you should be allowed, tax free, to ensure it stays within your immediate family or to a legit charity.... if you're leaving it to a neighbor or a friend, IMHO much different story
I have stated this before... all income, regardless of amount or where it came from, should be taxed the same rate on every dollar earned by every citizen... dollar 1 being the same as dollar 6000000... no exceptions, no loopholes.... truly equal treatment under government and law... not some disguised 'leveled equal' treatment that graduates up, which is noting more than pandering to votes on the subjective argument of 'fairness'
if you call taxing investment income the same as the working man's earned income PUNISHMENT, then what are we all working our buns off for....? chopped liver? criminals that deserve punishment? WHY Horty would it be punishing an investor and NOT be truly, punishing us....the worker with a higher tax rate?So? Why do you people keep babbling about that? Of course it's already been taxed once and it won't be taxed again. Only the profits will be taxed.because the income that was invested has already been taxed once.
Now, moving along, where is the fairness in charging on tax rate for one type of income vs. another tax rate for another type of income?
Where is the fairness in punishing investment in the market?
Do you want to set up a crash? Raise the capital gains tax to 30%. Go 'head....dare ya
and then it is put into risk of loss in part or in full. As a risk capital investment it promotes employment on growth of the financial or industrial base, and concomitantly new jobs and employment, thus it is encouraged by enjoying a lower tax rate.Why is income taxed differently and why is this not seen as an unfair situation?
For instance, if you earn a pay check or are self employed you are taxed somewhere between 10% and 35%.
Yet if you earn your income through investments you are taxed a flat 15%.
because the income that was invested has already been taxed once.
Unbelievable.Actually not quite true.. Cap Gains have both short and long term rates. And I believe they are already indexed somewhat to income (or WERE before the Bush cuts).
The reason for this is when you make an investment, you've PAID taxes on that money already. Not fair to tax proceeds from that principle at the same rate as some totally NEW income like salary..
It's to ENCOURAGE RISK.. Something that's a totally foreign concept to lefties..
It's not to encourage risk. Encouraging risk isn't necessarily a good thing. (See: Financial Crisis 2008- )
It is to avoid taxing savings. Savings is the capital stock and thus productive capacity of the nation.
So on planet Toro, the only reason why people invest their money is to avoid taxation?
Ya know what? I'm done with you. You come on here and post this far left wacko nonsensical bullshit just to get a rise out of people.
I have theorized that God put certain people on this planet just to bug the shit out of the rest of us. Your presence here leaves no doubt my theory may be close to the truth
Unbelievable.Actually not quite true.. Cap Gains have both short and long term rates. And I believe they are already indexed somewhat to income (or WERE before the Bush cuts).
The reason for this is when you make an investment, you've PAID taxes on that money already. Not fair to tax proceeds from that principle at the same rate as some totally NEW income like salary..
It's to ENCOURAGE RISK.. Something that's a totally foreign concept to lefties..
It's not to encourage risk. Encouraging risk isn't necessarily a good thing. (See: Financial Crisis 2008- )
It is to avoid taxing savings. Savings is the capital stock and thus productive capacity of the nation.
So on planet Toro, the only reason why people invest their money is to avoid taxation?
Ya know what? I'm done with you. You come on here and post this far left wacko nonsensical bullshit just to get a rise out of people.
I have theorized that God put certain people on this planet just to bug the shit out of the rest of us. Your presence here leaves no doubt my theory may be close to the truth
if you call taxing investment income the same as the working man's earned income PUNISHMENT, then what are we all working our buns off for....? chopped liver? criminals that deserve punishment? WHY Horty would it be punishing an investor and NOT be truly, punishing us....the worker with a higher tax rate?So? Why do you people keep babbling about that? Of course it's already been taxed once and it won't be taxed again. Only the profits will be taxed.
Now, moving along, where is the fairness in charging on tax rate for one type of income vs. another tax rate for another type of income?
Where is the fairness in punishing investment in the market?
Do you want to set up a crash? Raise the capital gains tax to 30%. Go 'head....dare ya
care
if you call taxing investment income the same as the working man's earned income PUNISHMENT, then what are we all working our buns off for....? chopped liver? criminals that deserve punishment? WHY Horty would it be punishing an investor and NOT be truly, punishing us....the worker with a higher tax rate?Where is the fairness in punishing investment in the market?
Do you want to set up a crash? Raise the capital gains tax to 30%. Go 'head....dare ya
care
The money used to invest was already taxed when it was earned as income.
To raise the capital gains tax would punish, and thus stifle, investment.
What purpose would that serve?
The working class tax rate is already lower than capital gains and the rich man's rate, and no one has mentioned raising the working class' rate. (except maybe Obama)
Then why did you CON$ want to make the Bush tax cuts permanent???Why is income taxed differently and why is this not seen as an unfair situation?
For instance, if you earn a pay check or are self employed you are taxed somewhere between 10% and 35%.
Yet if you earn your income through investments you are taxed a flat 15%.
Good question.
Why is some income taxed at 10% and some at 35%? That seems unfair to me.
What about the income that isn't taxed at all? You know, those 47% that file a return and pay nothing at all. That doesn't seem fair to me either.
Lost capital is tax deductible, minimizing any so called "risk."Why is income taxed differently and why is this not seen as an unfair situation?
For instance, if you earn a pay check or are self employed you are taxed somewhere between 10% and 35%.
Yet if you earn your income through investments you are taxed a flat 15%.
The government logic is that it's the difference between income and at risk capital.
Income is owed as earned. Capital can be completely lost, which happens more than you realize.
The lower tax rate on Cap Gains is due to the long term nature of investments and their importance to economic growth (which enables income producing jobs).
IMO, income taxes should be low and the same flat rate for everyone, and capital gains should not be taxed. The income which produced the capital has already been taxed once. And given the way the government continues to destroy the value of the dollar, taxing gains which are often just barely keeping up with inflation (if that) is adding insult to injury.
But that "risk" isn't so risky since you get to deduct your losses!no individual taxes are paid on money that has already been taxed....the money that is being taxed is money that has never been taxed, the gain on investment.
there is no individual double taxation?
No, Only Risk. Do you want to encourage investment which translates to growth, or deter it?
But that "risk" isn't so risky since you get to deduct your losses!no individual taxes are paid on money that has already been taxed....the money that is being taxed is money that has never been taxed, the gain on investment.
there is no individual double taxation?
No, Only Risk. Do you want to encourage investment which translates to growth, or deter it?
Raising the cap gains tax would punish, and thus stifle, SPECULATION.if you call taxing investment income the same as the working man's earned income PUNISHMENT, then what are we all working our buns off for....? chopped liver? criminals that deserve punishment? WHY Horty would it be punishing an investor and NOT be truly, punishing us....the worker with a higher tax rate?Where is the fairness in punishing investment in the market?
Do you want to set up a crash? Raise the capital gains tax to 30%. Go 'head....dare ya
care
The money used to invest was already taxed when it was earned as income.
To raise the capital gains tax would punish, and thus stifle, investment.
What purpose would that serve?
The working class tax rate is already lower than capital gains and the rich man's rate, and no one has mentioned raising the working class' rate. (except maybe Obama)
