quote:

ORIGINAL: Musicmystery

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: Musicmystery
A statement you completely removed from the context of the discussion it was in to pretend it was about a completely different matter.
You want to make-believe otherwise, fine.

You claimed that people aren't paying as much in taxes now as they used to. I totally debunked the fuck out of that. Now, you're saying it was taken out of context.

The thing is, MM, damn near everyone else would identify this as reality. You should join it some time.

Fine, let's ignore the discussion you forced yourself into and have your discussion instead.

You are cherry picking how you define "people paying taxes." You're looking at total revenue. My point in the previous discussion that to rise to what some were calling "the investor class," taxes were not a barrier now vs a few decades back, because we're paying fewer taxes person to person, vs. as a group.

That's reality, O Paragon of Humility.

And nothing either of us said defies that. Happy? Feel like you've "won" yet?

[8|]

quote:

ORIGINAL: Musicmystery

quote:

ORIGINAL: DesideriScuri

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ORIGINAL: MrRodgers
Income tax is not capital gains tax...two different taxes.

For individuals, capital gains aren't considered income, and capital gains taxes aren't part of income taxes for individuals?

Realized capital gains are income, however, and are taxable. Unrealized capital gains are merely potential profits, not yet realized.

quote:

ORIGINAL: Musicmystery
So other than wanting desperately to argue with me, what point are you disputing precisely?
As I already told you,

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ORIGINAL: DesideriScuri

quote:

ORIGINAL: Musicmystery

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: MrRodgers
Income tax is not capital gains tax...two different taxes.

For individuals, capital gains aren't considered income, and capital gains taxes aren't part of income taxes for individuals?

Realized capital gains are income, however, and are taxable. Unrealized capital gains are merely potential profits, not yet realized.

Do "capital gains" taxes apply to unrealized capital gains?

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: Musicmystery
So other than wanting desperately to argue with me, what point are you disputing precisely?
As I already told you,

Desperate? ME? LMAO!

Just pointing out, you can't even admit when you're wrong.

Be well, MM.

quote:

ORIGINAL: Musicmystery
I'm pretty sure a sane reader can view the paired sentences and correctly ascertain the contrast between the two.
Why would ANYTHING "potential" be taxed? FFS.

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ORIGINAL: Musicmystery

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: Musicmystery
So other than wanting desperately to argue with me, what point are you disputing precisely?
As I already told you,

Desperate? ME? LMAO!
Just pointing out, you can't even admit when you're wrong.
Be well, MM.

In short, you aren't disputing any of it, so you fall back on horse laugh to let yourself feel better.
I'm well. Thanks.

quote:

ORIGINAL: Musicmystery

Next question is -- what's wrong with encouraging investors at all socio-economic levels through tax break incentives?

After all, if you're poor, and saving gets the hell taxed out of it, what's the point? But if it's encouraged, it helps lift people out of hand-to-mouth poverty over time.

quote:

ORIGINAL: cloudboy


Can we get back to the core question:

March 6, 2009

Nasdaq Composite Index: 1293

December 26, 2014

Nasdaq Composite Index: 4806

--------

Is ^^^^^ this good news or bad news? How do you explain so many upset people on this thread? If I'm a one cow guy, why am I happy about the stock market?

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: MrRodgers
Income tax is not capital gains tax...two different taxes.

For individuals, capital gains aren't considered income, and capital gains taxes aren't part of income taxes for individuals?

quote:

ORIGINAL: mnottertail

Well corporations are paying less taxes:

http://www.politicususa.com/2012/10/25/bernie-sanders-exposes-18-ceos-trillions-bailouts-evaded-taxes-outsourced-jobs.html

quote:

ORIGINAL: Musicmystery

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: MrRodgers
Income tax is not capital gains tax...two different taxes.

For individuals, capital gains aren't considered income, and capital gains taxes aren't part of income taxes for individuals?

Realized capital gains are income, however, and are taxable. Unrealized capital gains are merely potential profits, not yet realized.

quote:

ORIGINAL: Musicmystery

quote:

ORIGINAL: MrRodgers

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ORIGINAL: DesideriScuri

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ORIGINAL: Musicmystery

quote:

ORIGINAL: tj444

quote:

ORIGINAL: Musicmystery

But that's the difference. It's hypothetical to you.

and to those making minimum wages and paying half their income in rent just to have a roof over their heads.. even for the poor back in your starving musician days it was easier to make & save money (people pay probably around 10% more now of their income in tax than back then).. [8|]

Exactly the other way around. People pay less tax now.

FY1993 Personal Income Tax (Federal) revenues: $509.68B (FY1993 dollars)[Source]
FY2013 Personal Income Tax (Federal) revenues: $1306.405B (FY2013 dollars) [Source]
FY1993 Personal Income Tax (Federal) revenues: $752.16B (FY2013 dollars) [Calculator Source]

Apparently, people pay more taxes now...

And, the Top 1% continue to shoulder a large burden of those taxes (which means they are paying that much more than before!).

[image]http://taxfoundation.org/sites/taxfoundation.org/files/docs/tqpit_725_small.png[/image]

Income tax is not capital gains tax...two different taxes.

Both are taxes on income. Have a look at the tax form.

quote:

ORIGINAL: MrRodgers

Because as even Adam Smith acknowledged, the poor must devote almost all of their income if not ALL of it on food, clothing and shelter (now add transportation) while the wealthy have in many cases million$ in totally discretionary income which means million$ more in which to enjoy the 'investment' of simply buying and selling which is what capital gains is.

I tried to explain this to cloudboy, but he refuses to accept it.
Thank you for explaining it so well, AGAIN.

That's also BTW why he believed in a progressive income tax schedule. There simply is no need for an investment tax incentive over and above the tax incentive for labor. Incentives should be equal if not tilted toward labor.

Let's nor forget that for 150 years, we had NO income tax and were doing just fine.

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ORIGINAL: KYsissy

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ORIGINAL: DesideriScuri

quote:

ORIGINAL: Musicmystery

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: MrRodgers
Income tax is not capital gains tax...two different taxes.

For individuals, capital gains aren't considered income, and capital gains taxes aren't part of income taxes for individuals?

Realized capital gains are income, however, and are taxable. Unrealized capital gains are merely potential profits, not yet realized.

Do "capital gains" taxes apply to unrealized capital gains?

No. Take stocks for instance. Any potential profit showing is not taxable until it is sold. The tax rates are different depending on if it is short term or long term. If you hold the stock for under a year, the rate is 30% on the profits, 15% for stocks held over a year.

Ballpark numbers, and i may be totally wrong.

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: cloudboy


Can we get back to the core question:

March 6, 2009

Nasdaq Composite Index: 1293

December 26, 2014

Nasdaq Composite Index: 4806

-------
Is ^^^^^ this good news or bad news? How do you explain so many upset people on this thread? If I'm a one cow guy, why am I happy about the stock market?

YES, equities (paper) value is up and it does the bottom 80% almost no fucking good at all.