Capitalism is NOT Democratic: Democracy is NOT Capitalist

[progressive hunter]

Wrong.
Except for personal exemption, salary is identical to business income.
It is gross, not net.

my guess is you have your shoes on the wrong feet,,

 

[Toddsterpatriot]

There is a basic unfairness that excess capital is so valuable that you can make a huge profit just loaning it out.
Those who then are forced to pay the loan interest and do all the work, do not get a fair share of the fruits of their labor.

If you don't want to pay interest, don't borrow.

 

[Rigby5]

NO YOU ARE NOT TAXED ON SAVINGS YOU STUPID FUCK,,

you already paid taxs on them,,

what taxs do we pay on rent and food transportation ect.???

what overhead exemptions are you talking about and what do you mean by realistic??

That is EXACTLY what I said.
I said, "you already paid taxes on saving", so no one is talking about taxing them again.

What taxes do you NOT pay on rent, food, transportation, etc.?
Of course the money you pay for rent, food, transportation, etc., was taxed as income, when you were paid.

The overhead exemption we are talking about is the std personal exemption, and the point is it is too small.
It is unrealistic.
It need to be bigger, in order to cover realistic rent, food, transportation, etc.

 

[dblack]

There is a basic unfairness that excess capital is so valuable that you can make a huge profit just loaning it out.
Those who then are forced to pay the loan interest and do all the work, do not get a fair share of the fruits of their labor.

Socialists can't seem to comprehend the basic function of investment, profit on the investment, and how it serves a vital function in an economy. Until they get their wish and try to make a command economy work. Then they figure it out pretty quickly.

 

[progressive hunter]

That is EXACTLY what I said.
I said, "you already paid taxes on saving", so no one is talking about taxing them again.

What taxes do you NOT pay on rent, food, transportation, etc.?
Of course the money you pay for rent, food, transportation, etc., was taxed as income, when you were paid.

The overhead exemption we are talking about is the std personal exemption, and the point is it is too small.
It is unrealistic.
It need to be bigger, in order to cover realistic rent, food, transportation, etc.

your shirts on backwards to isnt it??

like I said its easier to have a low flat rate and not have all this complicated crazy shit youre making up,,

 

[Toddsterpatriot]

I always at least double my money on real estate, and I flip sooner than 10 years.
The CA bust from 2007 to 2010 was not real but a deliberate fraud, with adjustable mortgages written on the British LIBOR, that doubled the payment after a couple of years.
It is true you repay the depreciation if you sell for a profit, but not if you trade with another land lord.

There is a false claim the feds were just not careful enough who they gave mortgages to, but that is false.
Those buyers were making the payments until the payment doubled.
If the ARM had been based on US Prime, then the payment would have gone down instead of up.

If the ARM had been based on US Prime, then the payment would have gone down instead of up.

Still looking for your proof?

Come on, you can post a chart of LIBOR and a chart of US Prime......right?

 

[progressive hunter]

Biden’s Treasury Secretary wants to tax the ‘unrealized capital gains’, but here’s why that’s a terrible idea

Biden’s Treasury Secretary said yesterday that she wants to tax the ‘unrealized capital gains’ in order to pay for Biden’s 3.5 trillion dollar agenda: Washington Post…

therightscoop.com

 

[Rigby5]

Still looking for your evidence "that the poor are paying much higher rates"?

We already covered that.
If the person's cost of living is higher than the personal exemption, then the reality is they are paying a much higher rate than the IRS claims.

Example, if a person makes $20k but their cost of living is $20k, then they should be paying no taxes at all.
But they will be paying taxes.
All the money after $12.4k is going to be taxed.
So then it requires an infinite rate to get any taxes from what is $0 profit.

 

[Rigby5]

If you don't want to pay interest, don't borrow.

The whole point of why the industrial revolution was so traumatic to the loss of personal freedom, is that then the cost of doing business greatly increased, forcing most people to have to borrow and pay interest.

 

[Rigby5]

If the ARM had been based on US Prime, then the payment would have gone down instead of up.

Still looking for your proof?

Come on, you can post a chart of LIBOR and a chart of US Prime......right?

Oh, is that what you wanted.
See the spike in the LIBOR right before the 2008 defaults?

 

[bripat9643]

There is a basic unfairness that excess capital is so valuable that you can make a huge profit just loaning it out.
Those who then are forced to pay the loan interest and do all the work, do not get a fair share of the fruits of their labor.

The amount of interest earned is not huge. Workers do the brute labor, but they risk nothing. Do you really believe that someone risking millions of dollars should be paid nothing for it? Do you know how many businesses have gone bankrupt in the last year?

 

[progressive hunter]

We already covered that.
If the person's cost of living is higher than the personal exemption, then the reality is they are paying a much higher rate than the IRS claims.

Example, if a person makes $20k but their cost of living is $20k, then they should be paying no taxes at all.
But they will be paying taxes.
All the money after $12.4k is going to be taxed.
So then it requires an infinite rate to get any taxes from what is $0 profit.

easier to just have a flat low rate and not all the crazy deductions and complications that come with them,,

well unless youre an accountant,, are you an accountant??

 

[Toddsterpatriot]

We already covered that.
If the person's cost of living is higher than the personal exemption, then the reality is they are paying a much higher rate than the IRS claims.

Example, if a person makes $20k but their cost of living is $20k, then they should be paying no taxes at all.
But they will be paying taxes.
All the money after $12.4k is going to be taxed.
So then it requires an infinite rate to get any taxes from what is $0 profit.

We already covered that.

Which post had your evidence?

Example, if a person makes $20k but their cost of living is $20k, then they should be paying no taxes at all. But they will be paying taxes.

Cool story. That doesn't help your claim.

 

[22lcidw]

How is giving individuals realistic exemptions, evil?

Living in high tax states is a privilege. Hundreds of billions of dollars a year in federal non tax compliant thieves going to parasites that do not pay their fair share using state and local and other high taxes as tax breaks to the federal level.

 

[Toddsterpatriot]

Oh, is that what you wanted.
See the spike in the LIBOR right before the 2008 defaults?

Holy shit. You just disproved your own claim.
Unless you think all mortgages reset in the same month.

Federal Reserve Economic Data | FRED | St. Louis Fed

Download, graph, and track 824,000 economic time series from 114 sources.

fred.stlouisfed.org

 

[Rigby5]

The amount of interest earned is not huge. Workers do the brute labor, but they risk nothing. Do you really believe that someone risking millions of dollars should be paid nothing for it? Do you know how many businesses have gone bankrupt in the last year?

Workers risk everything.
They often have to use their homes as collateral.
Banks risk nothing because the fed will bail them out and insures their loans.
And when the fed does bail out the bank, it does not bail out the borrower. (unless you are really big, like Chrysler.)

If we were to start rewarding people for taking risks, then criminals would have to be compensated the most.

 

[progressive hunter]

Workers risk everything.
They often have to use their homes as collateral.
Banks risk nothing because the fed will bail them out and insures their loans.
And when the fed does bail out the bank, it does not bail out the borrower. (unless you are really big, like Chrysler.)

If we were to start rewarding people for taking risks, then criminals would have to be compensated the most.

WTF!!!

when has a worker ever had to use their home as collateral to have a job??

 

[Rigby5]

easier to just have a flat low rate and not all the crazy deductions and complications that come with them,,

well unless youre an accountant,, are you an accountant??

Sure, but the point is that $12.4k is ridiculously low.
Should be about 50% more, like $18k.

 

[Rigby5]

We already covered that.

Which post had your evidence?

Example, if a person makes $20k but their cost of living is $20k, then they should be paying no taxes at all. But they will be paying taxes.

Cool story. That doesn't help your claim.

Yes it does.
It illustrates that since the personal exemption is too low, that we are actually paying a much higher rate than we realize.
We are paying taxes on some money that was not really profit, so then the reality is we are paying a much higher rate on the money that really is taxable profit.

 

[progressive hunter]

Yes it does.
It illustrates that since the personal exemption is too low, that we are actually paying a much higher rate than we realize.
We are paying taxes on some money that was not really profit, so then the reality is we are paying a much higher rate on the money that really is taxable profit.

individuals dont pay taxs on profit,,