Republicans now want to eliminate taxes on most of the rich

[blastoff]

What the dipshit wing of the Democrats doesn't get is the potential stimulus effect of money us rich folks have invested that has earned nice gains but we're reluctant to sell because we don't want to give the friggin' government 15% of what we've earned putting our money at risk. So if someone has no pressing need to cash out an investment it's better to just let it sit and, hopefully, wait things out until we've got either enough control in congress to override a president's veto or control along with the White House so the gains tax can go away.

When that happens we'll sell. And guess what we'll do with the original investment plus its gain? We'll reinvest some of it, we'll spend some of it, banks some of it, etc. All of which could be happening now if the Dimocrats weren't so dim.

 

[DiamondDave]

Hey.. but 0% on people you selectively want to have tax breaks is ok, when you're a lefty...

This is exactly why there is a call for equalized taxes on every dollar earned by every citizen with no exceptions... eliminate all this bullshit of this tax rate here and that tax rate there and this person gets this break and that person gets that break...

 

[Conservative]

Always a wonder!!the left just can't let go of class envy,and somehow they have allowed themselves to be programed that its just fine to tax the crap out of people.

The Feds should be looking at everything they can to reduce spending and the tax burden,the country needs a good jump start,but not from big Gov spending,rather from the peoples own resources ,let us keep more of what WE make and et the hell out of the way.

Eventually, they will tax the crap out of so many people, there will be no one left to tax the crap out of.

Allah forbid the libtards agree to reduce spending. That would reduce/eliminate entitlements. Reducing or eliminating entitlements would reduce their voting base. can't have that, now can we.

 

[J.E.D]

What the dipshit wing of the Democrats doesn't get is the potential stimulus effect of money us rich folks have invested that has earned nice gains but we're reluctant to sell because we don't want to give the friggin' government 15% of what we've earned putting our money at risk. So if someone has no pressing need to cash out an investment it's better to just let it sit and, hopefully, wait things out until we've got either enough control in congress to override a president's veto or control along with the White House so the gains tax can go away.

When that happens we'll sell. And guess what we'll do with the original investment plus its gain? We'll reinvest some of it, we'll spend some of it, banks some of it, etc. All of which could be happening now if the Dimocrats weren't so dim.

We're still waiting on the trickle-down from your tax cuts. 'The tax cuts will create jobs', the GOP said, 'The rich will invest'. Your taxes are the lowest they've been in 60 years. Corporations are sitting on 2 trillion in cash. CEO's earn more money than their entire corporation pays in taxes. But still the jobs aren't coming. And now you want us to believe that eliminating the CG tax will create jobs? Is this a joke? We're still waiting on the jobs from the ten years of Bush's tax cuts.

 

[Conservative]

What the dipshit wing of the Democrats doesn't get is the potential stimulus effect of money us rich folks have invested that has earned nice gains but we're reluctant to sell because we don't want to give the friggin' government 15% of what we've earned putting our money at risk. So if someone has no pressing need to cash out an investment it's better to just let it sit and, hopefully, wait things out until we've got either enough control in congress to override a president's veto or control along with the White House so the gains tax can go away.

When that happens we'll sell. And guess what we'll do with the original investment plus its gain? We'll reinvest some of it, we'll spend some of it, banks some of it, etc. All of which could be happening now if the Dimocrats weren't so dim.

We're still waiting on the trickle-down from your tax cuts. 'The tax cuts will create jobs', the GOP said, 'The rich will invest'. Your taxes are the lowest they've been in 60 years. Corporations are sitting on 2 trillion in cash. CEO's earn more money than their entire corporation pays in taxes. But still the jobs aren't coming. And now you want us to believe that eliminating the CG tax will create jobs? Is this a joke? We're still waiting on the jobs from the ten years of Bush's tax cuts.

I'm still waiting on those shovel ready jobs Obama promised. Have they showed up yet?

 

[DiamondDave]

What the dipshit wing of the Democrats doesn't get is the potential stimulus effect of money us rich folks have invested that has earned nice gains but we're reluctant to sell because we don't want to give the friggin' government 15% of what we've earned putting our money at risk. So if someone has no pressing need to cash out an investment it's better to just let it sit and, hopefully, wait things out until we've got either enough control in congress to override a president's veto or control along with the White House so the gains tax can go away.

When that happens we'll sell. And guess what we'll do with the original investment plus its gain? We'll reinvest some of it, we'll spend some of it, banks some of it, etc. All of which could be happening now if the Dimocrats weren't so dim.

We're still waiting on the trickle-down from your tax cuts. 'The tax cuts will create jobs', the GOP said, 'The rich will invest'. Your taxes are the lowest they've been in 60 years. Corporations are sitting on 2 trillion in cash. CEO's earn more money than their entire corporation pays in taxes. But still the jobs aren't coming. And now you want us to believe that eliminating the CG tax will create jobs? Is this a joke? We're still waiting on the jobs from the ten years of Bush's tax cuts.

Your taxes at 0% are the lowest they have ever been... maybe we should raise yours too???

People or corporations are free to do what they want with the $$ they have... you every think that investment is lagging because the outlook of the current policies is not good/? That people and corporations may want to actually make money back after losing so much BEFORE they take on more expenditures in salary or anything else?? And you know, they are supposed to have the FREEDOM to do such a thing...

Sustainable jobs do not come from increased taxation and more government red tape...

 

[OODA_Loop]

Rich people with more money in their pockets make for good customers.

 

[OohPooPahDoo]

[

Republicans now want to eliminate taxes on most of the rich

You were saying? *****?

The Republican candidates named above want to eliminate cap gains. The rich mostly pay cap gains. They want to eliminate most of the riches taxes.

I fail to see what you can't get.

The rich have always made special exceptions for their income - especially the paper pushing rich that don't produce anything. The rich that actually produce things are too busy - producing - to be worried about lobbyists to get their income excluded from taxation.

 

[OohPooPahDoo]

You what other group would benefit from losing the capital gains tax?

Pensioners and people in 401k's. Without that tax the overall tax burden on the funds in those plans goes down, lowering costs, and increasing return.

401(k)'s are excluded from the capital gains tax already, as Roth IRA's and Traditional IRA's. Upon withdrawal, the earnings are taxed as ordinary income. Eliminating the capital gains tax would not affect the tax liability of a 401(k).

 

[uscitizen]

Republicans serve their masters well and will be rewarded.
Well a very few of them will.

 

[OohPooPahDoo]

Always a wonder!!the left just can't let go of class envy,and somehow they have allowed themselves to be programed that its just fine to tax the crap out of people.

So to even suggest the rich should pay over 2% when the middle class pay 15% and 25% is "class envy".


Got it.

You must suck rich people's dicks all day long. The Radical Right has actually convinced you that they shouldn't have to pay any taxes - to suggest the rich pay taxes is "class envy" and taxing them at all is "Taxing the crap" out of them. The uber-wealthy are happy to know you're in their pocket - you're even willing to pay more taxes on the dollar than them.

 

[OODA_Loop]

Serve power or serve the drain on power.

 

[whitehall]

Democrats don't talk about it much but capital gains tax and it's related "death tax" do more to hurt the middle class. Farms and property and homes that have been in the same family for generations are often forced to be sold because family members can't afford the "death tax". I've seen a relatively low income person win a new car in a raffle and be forced to sell it and continue riding in a junker because they couldn't afford the up front "capital gains" tax. Nobody on the right claims that we should do away with government but government shouldn't be an employment agency either. Everyone instinctively knows that the federal government has become a bloated bureaucracy with redundant agencies often competing against each other and useless regulatory agencies which do nothing but hamper business.

 

[J.E.D]

What the dipshit wing of the Democrats doesn't get is the potential stimulus effect of money us rich folks have invested that has earned nice gains but we're reluctant to sell because we don't want to give the friggin' government 15% of what we've earned putting our money at risk. So if someone has no pressing need to cash out an investment it's better to just let it sit and, hopefully, wait things out until we've got either enough control in congress to override a president's veto or control along with the White House so the gains tax can go away.

When that happens we'll sell. And guess what we'll do with the original investment plus its gain? We'll reinvest some of it, we'll spend some of it, banks some of it, etc. All of which could be happening now if the Dimocrats weren't so dim.

We're still waiting on the trickle-down from your tax cuts. 'The tax cuts will create jobs', the GOP said, 'The rich will invest'. Your taxes are the lowest they've been in 60 years. Corporations are sitting on 2 trillion in cash. CEO's earn more money than their entire corporation pays in taxes. But still the jobs aren't coming. And now you want us to believe that eliminating the CG tax will create jobs? Is this a joke? We're still waiting on the jobs from the ten years of Bush's tax cuts.

Your taxes at 0% are the lowest they have ever been... maybe we should raise yours too???

So, what you're saying is, you won't be happy until taxes are at 0%? Sorry, it doesn't work that way. It sounds great. Yaaa, I pay absolutely no taxes! But then you realize that your roads aren't being repaired, the education system is non-existent and the military has been reduced to a couple of guys with baseball bats. Taxes serve a purpose.

People or corporations are free to do what they want with the $$ they have... you every think that investment is lagging because the outlook of the current policies is not good/? That people and corporations may want to actually make money back after losing so much BEFORE they take on more expenditures in salary or anything else?? And you know, they are supposed to have the FREEDOM to do such a thing...

Sustainable jobs do not come from increased taxation and more government red tape...

Apparently, sustainable jobs don't come from tax cuts either. Otherwise, the lowest tax rates since the 50's and 10 years of Bush's tax cuts would have created some jobs. But since Bush created only 3 million jobs over 8 years, obviously, tax cuts don't create jobs.

 

[oreo]

Five GOP Presidential Candidates Have Proposed Eliminating Capital Gains Tax, A $1 Trillion Giveaway To The Rich | ThinkProgress

At least five Republican presidential candidates support eliminating taxes on capital gains, proposing even deeper cuts than former President George W. Bush endorsed and standing in contrast to advocates of higher investment tax rates such as Warren Buffett.

According to published reports or their websites, Minnesota Congresswoman Michele Bachmann, Texas Congressman Ron Paul, former pizza executive Herman Cain and former House Speaker Newt Gingrich have said they back getting rid of the capital gains tax, which now has a top rate of 15 percent for most assets held for more than a year.

Awesome. So for those unaware - the way MOST of the filthy rich make their income is by capital gains. They pay 15% on their income obtained by capital gains. The exceptions would be those filthy rich that actually get up and work everyday - successful businessmen, salaried CEO's, highly paid doctors, etc. - those rich folk have to pay bout 35% on their income.

Now the Republicans propose we allow the former class - those that make their money off of pushing electronic pieces of paper around without actually producing anything - should pay ZERO taxes.

The richest of the rich presently average 17% in income tax because most of their income is taxed at the 15% rate. Under the Republican plan to eliminate taxes on capital gains - their tax rate would drop down to 2%.



2% tax on the uber rich

While I pay 15%

And no doubt many posters on this board pay considerably more.

The Republican plan is the **** the middle class as hard as possible and give everything to the rich - especially the unproductive rich

Nope--Mitt Romney's plan is to eliminate capital gains tax for those making under 200K per year which is the MIDDLE CLASS----- It's high time you liberals understood the difference between earned income and investment income which is taxed differently. If Warren Buffet really wanted to pay his fair share in taxes all he needs to do is give himself a PAYCHECK--and get hammered like the rest of us. BUT--it does no good to raise capital gains tax because you would be hitting the majority of the middle class--for their 401'K's and savings for their kids college funds.

 

[OohPooPahDoo]

lol

Having to pay taxes on a $920k profit is "fucked" now

Sign me up for that raping all day.

They don't even have to do that

250k is excluded.

Also excluded are the total cost of any improvements to the home - such as additional rooms, a swimming pool, etc.

Then its only 15% on what remains. What remains is the actual gain due to the market - forces the home owner can't really control. They can pay for an addition to the home and increase its value that way, but they have at best indirect control over the market forces that determine the house's value. So the taxation is actually only on the amount they didn't have to work for minus 250k.


Example:

You buy a house for 100k

Over the years, you put in 125k worth of additions - a pool, a larger bedroom, a garage, a burgular alarm - etc.

Also over the years, the house gains an additional 400k in value because the neighborhood is great and prices in general are rising.

You sell the house for 400k+125k+100k=625k

The 100k and 125 are part of the basis and not taxed.

You get taxed on only that 400k - 250k.



And we're supposed to ******* cry for them.

You're supposed to learn from them and try to be like them when you grow up

Why the **** would I want a million dollar home? Do you know how much the property taxes and insurance would run on such a place? Its high enough on the 197k home we have now. Not to mention the upkeep! Sorry, but we're too proud to hire a maid.

For me, that capital would be best invested elsewhere.

Sorry, but I'm not about consuming much more than I need just to feel good about myself.

 

[uscitizen]

Serve power or serve the drain on power.

Or my way. Serve NO one.

However that is too much personal responsibility for the majority to handle.

 

[DiamondDave]

We're still waiting on the trickle-down from your tax cuts. 'The tax cuts will create jobs', the GOP said, 'The rich will invest'. Your taxes are the lowest they've been in 60 years. Corporations are sitting on 2 trillion in cash. CEO's earn more money than their entire corporation pays in taxes. But still the jobs aren't coming. And now you want us to believe that eliminating the CG tax will create jobs? Is this a joke? We're still waiting on the jobs from the ten years of Bush's tax cuts.

Your taxes at 0% are the lowest they have ever been... maybe we should raise yours too???

So, what you're saying is, you won't be happy until taxes are at 0%? Sorry, it doesn't work that way. It sounds great. Yaaa, I pay absolutely no taxes! But then you realize that your roads aren't being repaired, the education system is non-existent and the military has been reduced to a couple of guys with baseball bats. Taxes serve a purpose.

People or corporations are free to do what they want with the $$ they have... you every think that investment is lagging because the outlook of the current policies is not good/? That people and corporations may want to actually make money back after losing so much BEFORE they take on more expenditures in salary or anything else?? And you know, they are supposed to have the FREEDOM to do such a thing...

Sustainable jobs do not come from increased taxation and more government red tape...

Apparently, sustainable jobs don't come from tax cuts either. Otherwise, the lowest tax rates since the 50's and 10 years of Bush's tax cuts would have created some jobs. But since Bush created only 3 million jobs over 8 years, obviously, tax cuts don't create jobs.

No... what I am saying, moron, is what I have been saying all along.... every dollar earned by every citizen taxed at exactly the same rate with no exceptions... equal treatment of all under government, and not selective equal treatment for political gain... if 15% across the board is required, then so be it.. if 20%, so be it... but it is EQUAL.. no exceptions....

 

[OohPooPahDoo]

Rich people with more money in their pockets make for good customers.

Poor and middle class people spend a higher fraction of their money than the rich. This is a well known fact. If you want money spent into the economy as quickly as possible, its better to give $10 each to 10 middle class or poor people than $100 to 1 rich guy.

 

[whitehall]

Here's an idea for you radical lefties, try living with lower taxes, you might like it and it might jump start the economy and create jobs. If you don't like it just donate half your assets to the government every year.