Debunking Liberal Myths About the Rich and the Capital Gains Tax

[jc456]

8.2%​

Average federal income tax rate for individuals in the Forbes 400 between 2010 and 2018

3 Alternatives for Taxing the Capital Gains of the Very Wealthy These are the thieves of this country. They paid to get laws to make this rape of mankind happen.

Stay stupid and uninformed

 

[Mac1958]

Taxing and spending are opposite sides of the same coin. No pun intended. As long as the two "parties" are unwilling/unable to work together on this, both taxing and spending, down to every fucking detail, we'll continue see fiscal madness.

All this partisan complaining and finger-pointing is pointless Kabuki Theater.

 

[struth]

Ok
Fair enough

Let’s make the tax rate the same for Capital Gains as earned income
Sounds fair

No, because earned income, and capital gains are two different things....and frankly would really harm the retired persons who saved all their lives to live off their retirement only to have that taxed again as earned income....all because a bedwetter like you was too lazy to save

 

[rightwinger]

No, because earned income, and capital gains are two different things....and frankly would really harm the retired persons who saved all their lives to live off their retirement only to have that taxed again as earned income....all because a bedwetter like you was too lazy to save

Stop hiding behind he elderly
The overwhelming amount of Capital Gains are from the super wealthy and the tax code is written for their benefit.

 

[jc456]

No, because earned income, and capital gains are two different things....and frankly would really harm the retired persons who saved all their lives to live off their retirement only to have that taxed again as earned income....all because a bedwetter like you was too lazy to save

Demofks want the elderly dead as much as babies

 

[Lesh]

Demofks want the elderly dead as much as babies

Wrong. We want assholes like you to shut the fuck up

 

[jc456]

Wrong. We want assholes like you to shut the fuck up

I know you do, you don’t want others to know what you want. You can change your stance by answering questions when asked. Explain your thoughts on taxes instead of turreting stupidly.

 

[Harpy Eagle]

If you make over $519K in capital gains, your capital gains tax rate is 20%.

and if you make over 519K in income your tax rate is 35%, or 37% once you get over 578k

 

[struth]

Stop hiding behind he elderly
The overwhelming amount of Capital Gains are from the super wealthy and the tax code is written for their benefit.

I am simply talking about the facts not your dembot class warfare fantasy

 

[struth]

Demofks want the elderly dead as much as babies

This is true and they want all the wealth they earned during the lives to pay for their cell phones and student loans

 

[Harpy Eagle]

No, start with decreasing all taxes and forcing govt to live within its means and pay off it's debt. It's time they do without.

who was the last person you voted for that supported this idea?

 

[rightwinger]

I am simply talking about the facts not your dembot class warfare fantasy

Class warfare has been going on since Reagan as the Working Class gets less and less and the Super Wealthy get more and more.
Working Americans get less pay, benefits and stability while the wealthy get tax cuts

Trickle Down did not work.
Rather than share increased wealth with the workers, Corporations just kept it

 

[rightwinger]

who was the last person you voted for that supported this idea?

Jimmy Carter

 

[struth]

Class warfare has been going on since Reagan as the Working Class gets less and less and the Super Wealthy get more and more.
Working Americans get less pay, benefits and stability while the wealthy get tax cuts

Trickle Down did not work.
Rather than share increased wealth with the workers, Corporations just kept it

No yoj leftist have been involved in class warfare since the gop freed your slaves

 

[Toddsterpatriot]

8.2%​

Average federal income tax rate for individuals in the Forbes 400 between 2010 and 2018

3 Alternatives for Taxing the Capital Gains of the Very Wealthy These are the thieves of this country. They paid to get laws to make this rape of mankind happen.

when counting capital gains on unsold assets, the Forbes 400 paid an average federal individual income tax rate of just 8.2 percent between 2010 and 2018. However, there are three possible alternatives to this system.

LOL!

You stupid twat.

DURR

They paid to get laws to make this rape of mankind happen.

When my Microsoft shares went from $250 to $400, who got raped? Where? How? Link?

 

[Toddsterpatriot]

Class warfare has been going on since Reagan as the Working Class gets less and less and the Super Wealthy get more and more.
Working Americans get less pay, benefits and stability while the wealthy get tax cuts

Trickle Down did not work.
Rather than share increased wealth with the workers, Corporations just kept it

Class warfare has been going on since Reagan as the Working Class gets less and less and the Super Wealthy get more and more.

Since Reagan, the working class pays less and less of the income taxes while the rich pay more and more.

Trickle Down did not work.

Supply-side economics works every time it's tried.

 

[rightwinger]

Class warfare has been going on since Reagan as the Working Class gets less and less and the Super Wealthy get more and more.

Since Reagan, the working class pays less and less of the income taxes while the rich pay more and more.

Trickle Down did not work.

Supply-side economics works every time it's tried.

Neither statement is true

 

[Lesh]

Class warfare has been going on since Reagan as the Working Class gets less and less and the Super Wealthy get more and more.

Since Reagan, the working class pays less and less of the income taxes while the rich pay more and more.

Trickle Down did not work.

Supply-side economics works every time it's tried.

Welcome to Alternate History Hour

Featuring Alternate Facts

 

[struth]

Class warfare has been going on since Reagan as the Working Class gets less and less and the Super Wealthy get more and more.
Working Americans get less pay, benefits and stability while the wealthy get tax cuts

Trickle Down did not work.
Rather than share increased wealth with the workers, Corporations just kept it

Reagan was the only time in modern history we saw movement between the classes, his policies created what we now know as the upper middle class

Prior to him we’d been stagnant under the new deal policies

 

[Dadoalex]

Liberals endlessly argue that the rich are not paying their fair share because many rich people do not pay income taxes but "only" pay capital gains taxes. Many rich people do not work for anyone and therefore do not receive a salary--and thus do not pay income taxes. These rich folks earn their money via capital gains and therefore they pay capital gains taxes.

Okay, well, if you make between $47K and $519K in capital gains, your capital gains tax rate is 15%. If you make over $519K in capital gains, your capital gains tax rate is 20%. This is well above the tax rate paid by most employed Americans. Tax data show that 77% of Americans pay an income tax rate of 15%. If your household income is between $22K than $89.4K, your income tax rate is only about 11% (since the income tax is graduated and the first $21K of household income is taxed at a rate of only 10%).

Anyone can confirm these facts by checking the federal capital gains tax brackets and the federal income tax brackets.

So, rich people who earn their money from capital gains do not pay a lower tax rate than most other Americans--they pay a higher tax rate than most other Americans.

Furthermore, these numbers do not include the enormous amount of taxes that many rich people pay in state and local property taxes, and the rich, unlike most other people, do not get a tax deduction for all of those taxes.

That you don't know the difference between the tax rate and % of income paid is obvious.

That you don't know that the wealthy
Deduct the cost of yachts and private jets as "business expenses"
Deduct mansions and condos
Deduct luxury cars
Deduct trips

The taxes they don't pay on those big incomes include SS and Medicare taxes.

So when you say 20% your are being either purposefully dishionest or simply showing ignorance.

Tax rates:
35% for incomes over $243,725 ($487,450 for married couples filing jointly)
32% for incomes over $191,950 ($383,900 for married couples filing jointly)
24% for incomes over $100,525 ($201,050 for married couples filing jointly)
22% for incomes over $47,150 ($94,300 for married couples filing jointly)
12% for incomes over $11,600 ($23,200 for married couples filing jointly)

The lowest rate is 10% for incomes of single individuals with incomes of $11,600 or less ($23,200 for married couples filing jointly).

EVERYONE making over $47K pays a higher tax rate and these rates are in addition to SS and Medicare taxes that those people deriving their incomes from capital gains do not pay at all.