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Great graphic of why capital gains are the real tax issue

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  • Great graphic of why capital gains are the real tax issue

    Shit is fucked up.

    https://www.dataforprogress.org/blog...isnt-listening

    Last edited by Foster4Prez; 01-10-2019, 03:47 PM. Reason: because fuck you, that's why

  • #2
    duh! why isn't this obvious?

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    • #3
      20% tax rate on that income.

      They should add a 4th and 5th tier to the capital gains tax rate. Anything over $1M gets taxed at 40% and anything over $5M gets taxed at 60%

      Then bump the top marginal income rate to 50-60% and call it a day.

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      • #4
        Especially when your guys's political hero Democrat and Republicans finally decided to stop insider trading in 2012.

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        • #5
          Originally posted by DPR View Post
          20% tax rate on that income.

          They should add a 4th and 5th tier to the capital gains tax rate. Anything over $1M gets taxed at 40% and anything over $5M gets taxed at 60%

          Then bump the top marginal income rate to 50-60% and call it a day.
          How fucking greedy do you have to be to think you're entitled to over half of someone's labor or risk dividends?

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          • #6
            Originally posted by Pollaski View Post

            How fucking greedy do you have to be to think you're entitled to over half of someone's labor or risk dividends?
            Rich people don't labor. They sit back and let their money earn money. You should know this being a rich guy under Trump.....

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            • #7
              Originally posted by sctrojan View Post

              Rich people don't labor. They sit back and let their money earn money. You should know this being a rich guy under Trump.....
              You mean they invest risk and get dividends. Why should we be looking down on that?

              And I'm probably at or near the bottom of income earners on this board. I'm just not a greedy bastard who thinks the government needs to punish those who are doing better than me.

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              • #8
                Pollaski, you'd have a point if banks and the rich weren't subsidized by the U.S. government and the system wasn't set up to benefit the rich and fuck over the middle class the most. That tax is essentially covering for a system that's already slanted and corrupt. Where billionaires can complete fuck up and the government will come bail them out. Where government loans are required for poor people, with interest, but not for the rich to subsidize the government's already overly expensive education system.

                Poor and middle class people have to take loans, rely on credit, take high mortgage rates, etc. Rich people don't. Why? The structure of the government. So capital gains tax balances that out.
                Last edited by General_Grantlocks; 01-10-2019, 05:42 PM.

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                • #9
                  Originally posted by General_Grantlocks View Post
                  Pollaski, you'd have a point if banks and the rich weren't subsidized by the U.S. government and the system wasn't set up to benefit the rich and fuck over the middle class the most. That tax is essentially covering for a system that's already slanted and corrupt. Where billionaires can complete fuck up and the government will come bail them out. Where government loans are required for poor people, with interest, but not for the rich to subsidize the government's already overly expensive education system.
                  So lets add another layer of corruption with more taxes!

                  How about we cut the subsidies instead?

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                  • #10
                    Originally posted by Pollaski View Post

                    So lets add another layer of corruption with more taxes!

                    How about we cut the subsidies instead?
                    Well, you'd have to regulate banks and mortgages, and Republicans don't like that.

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                    • #11
                      Originally posted by General_Grantlocks View Post

                      Well, you'd have to regulate banks and mortgages, and Republicans don't like that.
                      And at the end of the day, that’s just going to make it proportionally worse for the lower and middle classes.

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                      • #12
                        Originally posted by Pollaski View Post



                        How about we cut the subsidies instead?

                        You vote against that every time you vote Republican.

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                        • #13
                          Originally posted by General_Grantlocks View Post
                          Pollaski, you'd have a point if banks and the rich weren't subsidized by the U.S. government and the system wasn't set up to benefit the rich and fuck over the middle class the most. That tax is essentially covering for a system that's already slanted and corrupt. Where billionaires can complete fuck up and the government will come bail them out. Where government loans are required for poor people, with interest, but not for the rich to subsidize the government's already overly expensive education system.

                          Poor and middle class people have to take loans, rely on credit, take high mortgage rates, etc. Rich people don't. Why? The structure of the government. So capital gains tax balances that out.
                          Exactly. It's amazing how those same people that complain about the nanny state giving "Entitlements" to the middle and lower classes, have no problem with that same state giving them crap when they make awful financial decisions. If we lived in a truly capitalist society, the 2008 crisis would have led to a massive redistribution of wealth, from the corrupt upper classes who would have been wiped out to the ethical, rational firms that planned prudently. That didn't happen. In fact, the people that benefited the most from those awful decisions were allowed to write the policies that ensured that this would eventually happen again.

                          Comment


                          • #14
                            Originally posted by Foster4Prez View Post
                            I've been looking at this graph, and I'm having trouble with something. It stands to reason that above a particular income level, you'd be better off investing your money than trying to earn more through traditional means, right? After all, wages only go so high, so there's a pretty hard cap on how much you can earn that way.

                            I guess what I'm getting at is, I'm not entirely sure how this graph could look any different than it does. If you're worth say, $100 million, why would you waste any time at all earning wages when you can make the money you already have work for you and earn more? It's not like these guys are going to say fuck it and get a 9-5 if you raise the capital gains tax.

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                            • #15
                              Originally posted by tOSUfanboi2 View Post
                              I've been looking at this graph, and I'm having trouble with something. It stands to reason that above a particular income level, you'd be better off investing your money than trying to earn more through traditional means, right? After all, wages only go so high, so there's a pretty hard cap on how much you can earn that way.

                              I guess what I'm getting at is, I'm not entirely sure how this graph could look any different than it does. If you're worth say, $100 million, why would you waste any time at all earning wages when you can make the money you already have work for you and earn more? It's not like these guys are going to say fuck it and get a 9-5 if you raise the capital gains tax.
                              All the more reason to raise the rate. Less ability of theirs to dodge it.

                              But yea, that makes 100% sense.

                              Comment

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