Titans279 Posted April 2, 2021 Report Share Posted April 2, 2021 1 hour ago, oldschool said: You have no idea where I'm at income wise... the Warren and Sanders proposals would impact many including me right now. The Warren proposal hits the top 1% which I don’t think counts as “many” OILERMAN 1 Link to post Share on other sites More sharing options...
oldschool Posted April 2, 2021 Report Share Posted April 2, 2021 19 minutes ago, Titans279 said: The Warren proposal hits the top 1% which I don’t think counts as “many” Fair. I was referring to both proposals as a group. The Sanders one would impact tons of households. The Warren one is far more targeted. Is that 550K single filer or household? If it's the latter that would also affect lots of households in tier 1 markets like NY, CA, DC, etc.... Link to post Share on other sites More sharing options...
Starkiller Posted April 2, 2021 Report Share Posted April 2, 2021 1 hour ago, oldschool said: You have no idea where I'm at income wise... the Warren and Sanders proposals would impact many including me right now. We if you are in the top 1% of American in income then it’s time to pay more on your investment income... OILERMAN 1 Link to post Share on other sites More sharing options...
oldschool Posted April 2, 2021 Report Share Posted April 2, 2021 Just now, Starkiller said: We if you are in the top 1% of American in income then it’s time to pay more on your investment income... I pay a ton of taxes already and don't mind paying my share. Over taxing investment income like Sanders wants to do is an over correction in the other direction. Link to post Share on other sites More sharing options...
Starkiller Posted April 2, 2021 Report Share Posted April 2, 2021 4 minutes ago, oldschool said: I pay a ton of taxes already and don't mind paying my share. Over taxing investment income like Sanders wants to do is an over correction in the other direction. Sanders version won’t get 50 Dem votes and you know that. Anyway, Biden promised no tax increases on people making less than $400k. You should assume he will at least hold them to that level. Little Earl, and OILERMAN 1 1 Link to post Share on other sites More sharing options...
Little Earl Posted April 2, 2021 Report Share Posted April 2, 2021 1 hour ago, Starkiller said: Sanders version won’t get 50 Dem votes and you know that. Anyway, Biden promised no tax increases on people making less than $400k. You should assume he will at least hold them to that level. LMFAO! Because Biden always tells the truth.....right? Link to post Share on other sites More sharing options...
Starkiller Posted April 2, 2021 Report Share Posted April 2, 2021 38 minutes ago, Little Earl said: LMFAO! Because Biden always tells the truth.....right? This from a Trump defender? Priceless... IsntLifeFunny, OILERMAN, MadMax, and 1 other 3 1 Link to post Share on other sites More sharing options...
Little Earl Posted April 2, 2021 Report Share Posted April 2, 2021 4 hours ago, Starkiller said: This from a Trump defender? Priceless... whataboutism Wyattworld 1 Link to post Share on other sites More sharing options...
Btowner Posted April 2, 2021 Report Share Posted April 2, 2021 (edited) 5 hours ago, Starkiller said: This from a Trump defender? Priceless... Lack of self awareness has to be a prerequisite for being a Trump supporter. The other day, Eric Trump was on Fox News and he and Maria Bartiromo were complaining about Biden returning to his home for the 5th time in 100 days. Not once did they mentioned that at the same period in their presidencies, Trump had taken 19 trips to golf courses. Edited April 2, 2021 by Btowner Link to post Share on other sites More sharing options...
IsntLifeFunny Posted April 2, 2021 Report Share Posted April 2, 2021 19 minutes ago, Btowner said: Lack of self awareness has to be a prerequisite for being a Trump supporter. The other day, Eric Trump was on Fox News and he and Maria Bartiromo were complaining about Biden returning to his home for the 5th time in 100 days. Not once did they mentioned that at the same period in their presidencies, Trump had taken 19 trips to golf courses. Golf courses he owned who were being paid by the federal government for his security. Btowner, and Starkiller 2 Link to post Share on other sites More sharing options...
OILERMAN Posted April 3, 2021 Report Share Posted April 3, 2021 12 hours ago, oldschool said: You have no idea where I'm at income wise... the Warren and Sanders proposals would impact many including me right now. I don't need to know what your income is, we're talking about capital gains tax, not federal income tax. You said you haven't started transferring your income into investments that generate capital gains and you said you weren't wealthy yet. I also know it's highly likely most if not all of any investments you have are in retirement accounts which aren't affected by capital gains anyway. I do currently get capital gains and I do have a pretty large amount invested outside of retirement accounts and even the most radical proposals being discussed(that won't pass anyway) would hardly affect my taxes. This stuff affects the 1%, we're peons. This is one of the problems with policy regarding taxes, most people are ignorant about who it's helping and hurting. Eighteen, and IsntLifeFunny 2 Link to post Share on other sites More sharing options...
OILERMAN Posted April 3, 2021 Report Share Posted April 3, 2021 10 hours ago, oldschool said: I pay a ton of taxes already and don't mind paying my share. Taxes in general are at historical lows and have been since before Obama "A ton of taxes" is pretty relative Link to post Share on other sites More sharing options...
Rogue Posted April 3, 2021 Report Share Posted April 3, 2021 16 hours ago, oldschool said: You have no idea where I'm at income wise... the Warren and Sanders proposals would impact many including me right now. I'm of the position to lower or remove business taxes. Part of that is because of the "double taxation" argument for capital gains. I'm pro lower business tax, but pro income tax as income tax, and pro increasing progressive higher income taxation to make up the difference, which includes capital gains. Income is income, right? It should absolutely be under the progressive system we have now. If you want to make the argument it deters investing, I say bull shit. If people are making 60% versus 80% in investment? Really? That's going to deter people from making money? Oh, I'll just not mess with 60%? I'm just throwing out random numbers, but the intention is there. Other than double taxation, I don't see a reason why capital gains should be taxed differently as regular income. ChemEngr79 1 Link to post Share on other sites More sharing options...
Starkiller Posted April 3, 2021 Report Share Posted April 3, 2021 (edited) 43 minutes ago, Rogue said: I'm of the position to lower or remove business taxes. Part of that is because of the "double taxation" argument for capital gains. I'm pro lower business tax, but pro income tax as income tax, and pro increasing progressive higher income taxation to make up the difference, which includes capital gains. Income is income, right? It should absolutely be under the progressive system we have now. If you want to make the argument it deters investing, I say bull shit. If people are making 60% versus 80% in investment? Really? That's going to deter people from making money? Oh, I'll just not mess with 60%? I'm just throwing out random numbers, but the intention is there. Other than double taxation, I don't see a reason why capital gains should be taxed differently as regular income. There is no such thing as “double taxation”. It’s just another bullshit right wing slogan designed to con people, like the “death tax” and “right to work”. Taxes are simply transactional. Every transaction of money is (or can be) taxed. Edited April 3, 2021 by Starkiller Link to post Share on other sites More sharing options...
IsntLifeFunny Posted April 3, 2021 Report Share Posted April 3, 2021 3 hours ago, Starkiller said: There is no such thing as “double taxation”. It’s just another bullshit right wing slogan designed to con people, like the “death tax” and “right to work”. Taxes are simply transactional. Every transaction of money is (or can be) taxed. Not in a global economy. If you want to push these types of tax rates up you’ll have to also pass laws about taxing people pushing money out of the economy. Like I said earlier, if you tax capital gains as regular income then a lot of the money will leave. It’s a simple fact. Link to post Share on other sites More sharing options...
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