Termyn8or
Posts: 18681
Joined: 11/12/2005
Status: offline
|
"I think also US tax people for alot of things we don't get tax for. Like any additional income arising from rental or sale of property, or stocks and shares. "
Greta, one thing is not clear here, either you or me. Here we have what is called capital gains tax. You leave all the money in the market that is not taxed except dividends, if any. When you sell you are taxed at the capital gains rate which is lower than regular income tax. Of course if you roll the money over into a different stock or whatever it is not taxed. It is taxed when you actually take the money.
This is how rich people pay less tax. They don't need the money now so they let it build up, and can shift it around in the market and they can have a billion dollars after investing one penny and pay no tax, until they start taking money out. But if you already got money in the bank, why would you take it out of the market unless you thought it is going to crash ? Actually it will, it is just a question of when, the people who take the longest ride and get out at the exact right time will make out the best. Those who do not know when to get out will lose, and lose practically every dime.
The lesser tax is an incentive to leave your money with the stockbroker. And BTW in this country you are not necessarily buying the stocks you think you are. Someone could be shorting. You still get the expected dividends, and the value when you decide to drop it, but you, and all other small time investors' holding that stock are not helping its value, nor does the money you paid for the stock go for that company's expansion efforts or whatever, which hurts you.
Remember they said people were jumping out of windows in the crash of 29 ? Well those people did not jump because they were not going to have a very good Christmas and be able to afford a new radio. They jumped out of the windows because the were about to go to JAIL. They shorted stock without sponsoring it, which means to put up the money for the eventual dumping as well as the dividends. They STOLE the money, unnustan ?
Insurance agents also did it with certain types of policies. they would take the money to the horse track or whatever thinking that - it ain't gonna happen. And it usually doesn't so very few of them got busted. But with the stock market crash the shit was going to hit the BIG fan over this shit, even though by shorting stocks they should have made money. The problem there is that legally constitutes fraud. A felony. There goes their whole career and of course these assholes can't do anything useful.
And shit is creeping up on all the politicians. One of these days...
T^T
|
RE: Sanders agree to debate in Fox News but Hillary ref... - 
Profile
New Messages
No New Messages
Hot Topic w/ New Messages
Hot Topic w/o New Messages
Locked w/ New Messages
Locked w/o New Messages
Post New Thread