A simple economic lesson... raise capital gains to 43% will do what?

[Mac1958]

FYI, current House Democratic proposal on capital gains: Up to 28.8%

House Democrats propose raising capital gains tax to 28.8%

The proposal differs from a prior Biden administration plan to raise the top combined rate to 43.4% for those with income over $1 million.

www.cnbc.com

 

[Blues Man]

FYI, current House Democratic proposal on capital gains: Up to 28.8%

House Democrats propose raising capital gains tax to 28.8%

The proposal differs from a prior Biden administration plan to raise the top combined rate to 43.4% for those with income over $1 million.

www.cnbc.com

I knew the bill wouldn't pass as proposed.

I think it will end up slightly lower than 28%.

 

[Mac1958]

I knew the bill wouldn't pass as proposed.

I think it will end up slightly lower than 28%.

This stuff gets so silly. Folks just love to go full drama queen so early in the process.

 

[pknopp]

Why is it the taxpayer's responsibility to pay for daycare the kid's parents refuse to pay?

I suppose for the same reason we have to pay trillions to keep your 401k inflated. That we had to pay billions to the corporate farms that Trump's policies hurt. etc.

 

[pknopp]

It's not my debt.

Besides I don't expect to be paying any income taxes for the next 15 years. We're living off of our investments and since we have no debt at all we don't need to pay for anything but basic living expenses and the the stuff we do for fun.

Then don't worry yourself over it.

 

[rightwinger]

I don't believe this is true.
I do not believe that money disbursed to stock holders is taxed when the company earned it.
That is one of the incentives for companies to declare dividends.

But if capital gains is taxed twice, that would explain why it is lower.
I never understood why is was at a lower rate than your other income.
It still makes no sense for it to be a fixed rate, as it should be progressive.

Capital gains are not taxed twice……only profits are
Earned income creates wealth…..investments don’t

 

[Blues Man]

Then don't worry yourself over it.

Where did i say I was worried?

Just because something might not directly affect me doesn't mean I can't have an opinion on it or on it's effects.

It's not going to affect you either is it?

 

[Blues Man]

Capital gains are not taxed twice……only profits are
Earned income creates wealth…..investments don’t

You got that wrong.

Wealth is net worth not income.

If you make a million a year and have a low net worth you ain't wealthy

 

[rightwinger]

If you make a million a year and have a low net worth you ain't wealthy

No, you are inept

 

[Blues Man]

No, you are inept

Wealth is net worth not income and anyone can increase their net worth.

 

[pknopp]

Where did i say I was worried?

Just because something might not directly affect me doesn't mean I can't have an opinion on it or on it's effects.

It's not going to affect you either is it?

Not paying the debt and leaving it for my kids? Yes.

 

[rightwinger]

Wealth is net worth not income and anyone can increase their net worth.

The reality is the opposite

Most of our super wealthy have immense net worth and very low income.
Only income is taxed

 

[Blues Man]

Not paying the debt and leaving it for my kids? Yes.

Feel free to send in extra money to the government.

I don't have kids and it's not my debt.

 

[Blues Man]

The reality is the opposite

Most of our super wealthy have immense net worth and very low income.
Only income is taxed

Wealth is net worth. We don't tax net worth. We shouldn't tax net worth because it's not constant can can change from day to day.

Personally I don;t think we should tax income at all.

 

[pknopp]

Feel free to send in extra money to the government.

I don't have kids and it's not my debt.

Then don't sweat it.

 

[Blues Man]

Then don't sweat it.

Again where did i say i did?

 

[Blues Man]

Then don't sweat it.

This tax has nothing to do with paying down the debt anyway

 

[gipper]

I suppose for the same reason we have to pay trillions to keep your 401k inflated. That we had to pay billions to the corporate farms that Trump's policies hurt. etc.

He doesn’t know anything about those things. He just doesn’t want to help the poor. That’s COMMUNISM!!!

 

[Flash]

These stupid uneducated Libtards think that with a bloated cost of government that taking even more money out of the private economy and giving it to bureaucrats to spend will somehow make this country better.

Yea, they are that stupid.

 

[healthmyths]

I'm not a fan of raising capital gains taxes, and think they should be lower.

However, when Trump cut capital gains taxes, almost all of the savings went into share buybacks, not capex. And most of those buybacks were done by the same Big Tech companies that so many on the alt-right hate these days.

There are proposals to ban share buybacks, or tax them. I oppose both. However, I don't think cutting capital gains taxes helps the working class. They mostly help the upper middle class and rich. That includes me. But most here won't benefit.

FACTS not guesses..

A year after their tax cuts, how have corporations spent the windfall?​

Almost a year later, investments by Standard & Poor’s 500 largest public companies on new equipment and factories have jumped nearly 19 percent in the first three quarters of 2018, to about $475 billion,
Companies also increased research and development spending by 34 percent, to nearly $175 billion, in the first three quarters of this year.
“Critics of buybacks see Scrooge McDuck sitting on a pile of gold,” Hassett said.
dividends set a new annual record at $420 billion...(NOTE dividends are TAXED!)

https://www.washingtonpost.com/business/economy/a-year-after-their-tax-cuts-how-have-corporations-spent-the-windfall/2018/12/14/e966d98e-fd73-11e8-ad40-cdfd0e0dd65a_story.html