OrangeBills Posted August 22, 2022 Posted August 22, 2022 27 minutes ago, Chef Jim said: That includes billionaires who live on Capital Gains from the sale of assets such as stock options. You know what else they don’t pay on those transactions? Social Security, Medicare and SDI taxes 😏 What are you talking about? Capital Gains income are taxed just like other income, although Long-Term Cap Gains are at a lower rate since, you know, most societies want to encourage long-term investment in their economies... But those taxes you reference are Regressive in nature, since in order to get them passed in the first-place, admittedly when our society was in a different place and not run by Left-Wing nut-jobs, that's how they had to be implemented to get them through, again as most normal societies would think/operate. I realize the current US regime IS full of Left-Wing nut-jobs, so they don't understand these basic concepts. For MOST people, Cap Gains income would come in well above the statutory caps so you're correct, they wouldn't be capped. I get that in the new US world order, the Leftists want access to more and more of people's assets/income so they can redistribute them.
BillStime Posted August 22, 2022 Posted August 22, 2022 25 minutes ago, aristocrat said: So you'd be ok if the Repubicans used it against the Dems if they win the mid terms and presidency? Is this what you're saying? It’s called politics dear
aristocrat Posted August 22, 2022 Posted August 22, 2022 13 minutes ago, BillStime said: It’s called politics dear That's called corruption. 1
Tiberius Posted August 22, 2022 Posted August 22, 2022 So glad the SEC is around. The company handling our 401k type of investments was ripping us off and SEC is forcing them to pay us back money. Win for the good guys. I don't invest any new money in the thing, but had it since 2001, so it grew to a decent level. The company is so corrupt, the fees, etc. add up to 8% or something. So you have to earn 10% to just get 2% gain, I stopped putting money in it years ago.
BillStime Posted August 22, 2022 Posted August 22, 2022 (edited) 1 hour ago, aristocrat said: That's called corruption. No - not really. Corruption is what Donald Trump and his family did to our treasury through his numerous vacations and random visits to his properties - making members of his administration stay at his properties in the US and abroad - including an Air Force crew repeatedly staying way out of their way at his resort in Scotland… Why don’t we review and audit the dispersant of those PPP loans to his own businesses, family and friends - which were cancelled and not repaid in full (meanwhile the cult goes nuts over student loans). Why wouldn’t Pompeo release the report of how much of our tax dollars spent at Trump properties before the 2020 election? Edited August 22, 2022 by BillStime 3
Chef Jim Posted August 22, 2022 Posted August 22, 2022 3 hours ago, OrangeBills said: What are you talking about? Capital Gains income are taxed just like other income, although Long-Term Cap Gains are at a lower rate since, you know, most societies want to encourage long-term investment in their economies... But those taxes you reference are Regressive in nature, since in order to get them passed in the first-place, admittedly when our society was in a different place and not run by Left-Wing nut-jobs, that's how they had to be implemented to get them through, again as most normal societies would think/operate. I realize the current US regime IS full of Left-Wing nut-jobs, so they don't understand these basic concepts. For MOST people, Cap Gains income would come in well above the statutory caps so you're correct, they wouldn't be capped. I get that in the new US world order, the Leftists want access to more and more of people's assets/income so they can redistribute them. No they are not. Gains are taxed at a lower rate than income for higher net incomes. The rest of your post is gibberish. Good job making an observation of our current tax code political. Why the ***** did I even bother. Carry on nut jobs. 2 hours ago, Tiberius said: So glad the SEC is around. The company handling our 401k type of investments was ripping us off and SEC is forcing them to pay us back money. Win for the good guys. I don't invest any new money in the thing, but had it since 2001, so it grew to a decent level. The company is so corrupt, the fees, etc. add up to 8% or something. So you have to earn 10% to just get 2% gain, I stopped putting money in it years ago. Good job blaming your 401k custodian and not your plan administrator (your company) for not doing their due diligence on the plan THEY designed for YOU.
OrangeBills Posted August 22, 2022 Posted August 22, 2022 1 hour ago, Chef Jim said: No they are not. Gains are taxed at a lower rate than income for higher net incomes. The rest of your post is gibberish. Good job making an observation of our current tax code political. Why the ***** did I even bother. Carry on nut jobs. Good job blaming your 401k custodian and not your plan administrator (your company) for not doing their due diligence on the plan THEY designed for YOU. Uh, no they are not. Cap Gains held under one year are treated as Regular Income. Cap Gains held for over a year are treated as investments and do get a lower rate because, again, most people understand that societies want to encourage long-term investment. The rest of my post is not gibberish. Witholding taxes are only applied to the first $92k-$106k (or whatever it is, who cares) of income, it is not applied to income above that. Since most people with healthy Cap Gains would be earning more than $100,000, they do not net Withholding Taxes for SS, etc but it's just math...I would not go around calling things you don't understand gibberish, as a rule.
Brueggs Posted August 22, 2022 Posted August 22, 2022 3 hours ago, BillStime said: No - not really. Corruption is what Donald Trump and his family did to our treasury through his numerous vacations and random visits to his properties - making members of his administration stay at his properties in the US and abroad - including an Air Force crew repeatedly staying way out of their way at his resort in Scotland… Why don’t we review and audit the dispersant of those PPP loans to his own businesses, family and friends - which were cancelled and not repaid in full (meanwhile the cult goes nuts over student loans). Why wouldn’t Pompeo release the report of how much of our tax dollars spent at Trump properties before the 2020 election? For the sake of argument, lets say you are correct. Now, if you apply even scrutiny to the current administration, you can't find anything that raises suspicions of corruption?
BillStime Posted August 22, 2022 Posted August 22, 2022 1 hour ago, Brueggs said: For the sake of argument, lets say you are correct. Now, if you apply even scrutiny to the current administration, you can't find anything that raises suspicions of corruption? Trumps corruption doesn’t abscond Biden of anything. If Joe broke the law - he should be indicted. Can you highlight Joe’s corruption while POTUS?
Chef Jim Posted August 22, 2022 Posted August 22, 2022 2 hours ago, OrangeBills said: Uh, no they are not. Cap Gains held under one year are treated as Regular Income. Cap Gains held for over a year are treated as investments and do get a lower rate because, again, most people understand that societies want to encourage long-term investment. The rest of my post is not gibberish. Witholding taxes are only applied to the first $92k-$106k (or whatever it is, who cares) of income, it is not applied to income above that. Since most people with healthy Cap Gains would be earning more than $100,000, they do not net Withholding Taxes for SS, etc but it's just math...I would not go around calling things you don't understand gibberish, as a rule. So anyone selling $1,000,000 vested stock options (or any appreciated asset) held for less than 365 days is an idiot and didn't think it needed to be said that the Uber wealthy are not idiots so they hold for one year to get the lower LT Cap Gains rate. The LT Cap Gains Rate is 20%. Add the 3.8% ACA Tax for a total federal taxes of 23.8%. If they live in CA there would be another 14% LT Cap Gains for a total of 38.1%. I'm assuming a cost basis of $0 on this calculation. I'm also assuming this is the only income they generated for the year. How man Uber wealthy generate ordinary income? Very few. It's mostly passive/investment income. They are not W-2 Employees like most. Compare that to if they WERE a W-2 Employee making $1,000,000 of MAGI and living in CA they would have an effective tax rate of 42%. So in the first example of not paying employment tax (FICA/SDI) they save themselves $40k in taxes worst case scenario again seeing my example is a CA resident. More importantly and the purpose of my first post was to point out they are not funding SS or Medicare. I understand this much better than you appear to so yes the rest of your post was gibberish.
Brueggs Posted August 23, 2022 Posted August 23, 2022 14 hours ago, BillStime said: Trumps corruption doesn’t abscond Biden of anything. If Joe broke the law - he should be indicted. Can you highlight Joe’s corruption while POTUS? What laws has Trump broken? One man has been a target while the other has been protected. There is no equal scrutiny here. 1
BillStime Posted August 23, 2022 Posted August 23, 2022 12 minutes ago, Brueggs said: What laws has Trump broken? One man has been a target while the other has been protected. There is no equal scrutiny here. So you are deflecting because you cannot substantiate Joe’s corruption in the WH? Got it
Doc Posted August 23, 2022 Posted August 23, 2022 (edited) 6 hours ago, Brueggs said: What laws has Trump broken? One man has been a target while the other has been protected. There is no equal scrutiny here. It's funny. In rare moments of honesty, you'll hear simps like BSTime say that politicians are corrupt. But press him on a 50-year Congresscritter like Joke, and he's pure as the driven snow. Edited August 23, 2022 by Doc 2 1
B-Man Posted August 23, 2022 Posted August 23, 2022 Here we go: IRS launching nationwide ‘security review’ in response to ‘congressional Republicans and far-right extremists lashing out’ Ever since we got wind of the Democrats’ plan to spend $80 billion on the IRS and add an additional 87,000 to the IRS’ work force, we’ve been … concerned. Even though Dems and the Biden administration have repeatedly assured us that those additional financial and personnel resources won’t be used to audit anyone making less than $400,000, we find ourselves decidedly skeptical. We just get this feeling that the IRS has plans to do more than just “IT support and answering taxpayers’ questions,” you know? Like, maybe they are going to audit more people who can’t afford to go through litigation. And maybe a lot of those people will be of the Republican and/or conservative persuasion who are always pouncing and seizing on everything: https://twitchy.com/sarahd-313035/2022/08/23/here-we-go-irs-launching-nationwide-security-review-in-response-to-congressional-republicans-and-far-right-extremists-lashing-out/ We know, we know, you're going to audit more conservatives... . 1
Brueggs Posted August 23, 2022 Posted August 23, 2022 8 hours ago, BillStime said: So you are deflecting because you cannot substantiate Joe’s corruption in the WH? Got it Read my original response to you in this thread, where you did exactly what you say I'm doing. Your hypocrisy knows no bounds. I suppose that is exactly what makes you the perfect poster boy for the DNC. 2 hours ago, Doc said: It's funny. In rare moments of honesty, you'll hear simps like BSTime say that politicians are corrupt. But press him on a 50-year Congresscritter like Joke, and he's pure as the driven snow. That is the irony, isn't it? Its proof positive that brainwashing works. 2
BillStime Posted August 23, 2022 Posted August 23, 2022 7 minutes ago, Brueggs said: Read my original response to you in this thread, where you did exactly what you say I'm doing. Your hypocrisy knows no bounds. I suppose that is exactly what makes you the perfect poster boy for the DNC. That is the irony, isn't it? Its proof positive that brainwashing works. I already highlighted some of trumps known corruption. And here is what you asked me: On 8/22/2022 at 11:25 PM, Brueggs said: you can't find anything that raises suspicions of corruption? I then responded by saying that if Biden broke the law - he should be indicted. I then asked - because your question alludes obvious corruption on Biden part - what has he done since he’s been in the WH - and you bailed. You f’n bailed. 2 hours ago, Doc said: It's funny. In rare moments of honesty, you'll hear simps like BSTime say that politicians are corrupt. But press him on a 50-year Congresscritter like Joke, and he's pure as the driven snow. At least I'm honest - you? Move those goal lines qDoc.
Brueggs Posted August 24, 2022 Posted August 24, 2022 On 8/23/2022 at 8:14 AM, BillStime said: So you are deflecting because you cannot substantiate Joe’s corruption in the WH? Got it All of the corruption regarding Trump is alleged, and nothing proven. That in and of itself is substantial considering the forces at work against him. He is a billionaire business man, and as such you would expect to see complex financial dealings. Biden, on the other hand, has the protection of the same forces working against Trump. He was never a business man, and while making several hundred thousand a year, has amassed a substantial fortune somehow. I don't suppose, in spite of all the smoke in Ukraine and China, and his son's business dealings, that you see any sign of corruption? Be honest, if that were Donald and Donald Jr., you would be screaming from the roof tops. Yet, as proven over and over when it comes to our politicians, they are rarely held accountable. If you are part of the establishment, you are protected. It is painfully obvious to anyone that has an ounce of objectivity, that of the two presidents being discussed, that one is clearly a part of that establishment. This same establishment uses smoke and mirrors and misdirection routinely, and as a necessity to continue what they are doing. None of us are getting truly accurate information, and as a result, have a very limited basis to make a truly informed decision. The result is people like us become divided as to what is true and what is not, based on propaganda, and the entire nation suffers for it. This is 100% by design, and it is working...probably better that intended. 1
BillStime Posted August 24, 2022 Posted August 24, 2022 33 minutes ago, Brueggs said: All of the corruption regarding Trump is alleged, and nothing proven. That in and of itself is substantial considering the forces at work against him. He is a billionaire business man, and as such you would expect to see complex financial dealings. Biden, on the other hand, has the protection of the same forces working against Trump. He was never a business man, and while making several hundred thousand a year, has amassed a substantial fortune somehow. I don't suppose, in spite of all the smoke in Ukraine and China, and his son's business dealings, that you see any sign of corruption? Be honest, if that were Donald and Donald Jr., you would be screaming from the roof tops. Yet, as proven over and over when it comes to our politicians, they are rarely held accountable. If you are part of the establishment, you are protected. It is painfully obvious to anyone that has an ounce of objectivity, that of the two presidents being discussed, that one is clearly a part of that establishment. This same establishment uses smoke and mirrors and misdirection routinely, and as a necessity to continue what they are doing. None of us are getting truly accurate information, and as a result, have a very limited basis to make a truly informed decision. The result is people like us become divided as to what is true and what is not, based on propaganda, and the entire nation suffers for it. This is 100% by design, and it is working...probably better that intended. Wow all that text and nothing about Joe’s corrupt White House? Strange. Trump is not a businessman nor a billionaire. Oh well.
Brueggs Posted August 24, 2022 Posted August 24, 2022 4 hours ago, BillStime said: Wow all that text and nothing about Joe’s corrupt White House? Strange. Trump is not a businessman nor a billionaire. Oh well. OK. Enjoy life in your bubble....until you're not useful anymore.
BillStime Posted August 24, 2022 Posted August 24, 2022 (edited) 3 hours ago, Brueggs said: OK. Enjoy life in your bubble....until you're not useful anymore. Wait - I’m in the one in a bubble but let me quote you: On 8/22/2022 at 11:25 PM, Brueggs said: Now, if you apply even scrutiny to the current administration, you can't find anything that raises suspicions of corruption? I asked you to substantiate and elaborated ob Biden’s corruption AND YOU CAME UP W NOTHIN. Wtf freakshow Edited August 24, 2022 by BillStime
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