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Started By
Message
1
Posted on 11/13/15 at 9:05 am to Rouge
quote:
raising effective tax rate on capital gains in conjunction with removing the homestead exemption on homes greater than $1MM.
also add in a 30% taxes on international wire transfers...i'm looking at you, "undocumented workers".
All a pittance comparitavelty speaking.
Raise capital gains to what? A 30% tax on international transfers would wipe out this countries financial institutions at the first hint of such legislation. All liquid wealth would be safely tucked away in the Caymans or Sweden.
Posted on 11/13/15 at 9:14 am to sullivanct19a
quote:
interesting how you posted no facts of your own to dispute anything.
Ugh jesus here's a graph. Hope that's simplistic enough for you...Source: IRS
ETA: Crazy how they don't reach 1 trillion AGI as the Fox News mouthpiece says...wait they DO
ETA: Crazy how they get taxed at the 35%+ that the Fox News mouthpiece says...wait they don't.
ETA: AGAIN, I'm not defending this lady or her political views or position on anything. The fact that she got bitchslapped so hard shows how doomed this movement really is if THIS is their front line.
This post was edited on 11/13/15 at 9:19 am
Posted on 11/13/15 at 9:17 am to ShamelessPel
Well that chart is depressing.
Posted on 11/13/15 at 9:25 am to ShamelessPel
quote:
ShamelessPel
Why do you believe the wealthy should be forced to redistribute their wealth?
Posted on 11/13/15 at 9:29 am to HeHateMe23
quote:
Why do you believe the wealthy should be forced to redistribute their wealth?
Oh hell. Forget it. Despite putting a disclaimer on every post that this IS NOT my belief, this is all I hear. Ya'll have fun circle jerking each other in this thread and laughing at how amazing Neil Cavuto is.
If you really want my personal belief, I am in favor of a flat tax across the board that closes all the little loopholes available to those who have the money to find them. I will gladly pay the same amount of tax as the wealthy.
Posted on 11/13/15 at 9:44 am to Cosmo
quote:
Why does Cavuto hate black people?
Because they always ruin the Malls
Posted on 11/13/15 at 9:56 am to ShamelessPel
Effective tax rates dont include social security and medicare
And Cavuto was referring to the marginal tax rate
And Cavuto was referring to the marginal tax rate
This post was edited on 11/13/15 at 9:59 am
Posted on 11/13/15 at 10:02 am to jlc05
Yup.
Not to mention there are other taxes besides strictly income tax.
Not to mention there are other taxes besides strictly income tax.
Posted on 11/13/15 at 10:29 am to Fun Bunch
quote:
Yup.
Not to mention there are other taxes besides strictly income tax.
An individual's effective tax rate is calculated by dividing total tax expense by taxable income.
The effective tax rate is often a more accurate representation of a taxpayer's tax liability than its marginal tax rate.
Effective Tax Rate
I digress. Cavuto uses the marginal tax rate to form his argument, which is the whole point I'm trying to make. He contours his argument to inflate the numbers and make them seem more unbearable than their reality.
Posted on 11/13/15 at 10:29 am to ihometiger
They should have played this at the end of the interview...
Posted on 11/13/15 at 10:32 am to Darth_Vader
quote:
And that girl gets to vote.... Think about that for a moment.
this is what grinds my gears the most
that a-holes like this get there vote counted equally to mine
Posted on 11/13/15 at 10:44 am to mostbesttigerfanever
They should have called it the Dozens Student March
Posted on 11/13/15 at 10:50 am to ihometiger
I imagine Keeley's friends kicked her out of the million student March group when she gets back to fantasy land.
Posted on 11/13/15 at 11:12 am to tigamike
My sixteen year old brought home her first check recently and had that moment of "tax clarity". It was priceless.Every parent enjoys that moment. 
Posted on 11/13/15 at 11:45 am to ShamelessPel
quote:
Ugh jesus here's a graph. Hope that's simplistic enough for you...Source: IRS
What you are leaving out is that the income in this chart is W-2 income. There is more "income" for most people than that. Dividends, interest, etc. When you factor in all of those other forms of "income taxes," you can easily get close to the 50% tax rate for those damned 1%.
Various forms of investments are all taxes differently and at the end of the day all have to be taken into account which is what he was doing.
She and her idiot compatriots just want free shite for doing nothing. I busted my arse working full time while in college to pay for it and finally got my student loans paid off. Why? Because it needed to be done so I worked hard and did it. There is no longer any personal responsibility or desire to better oneself. It is someone else better give me better stuff because I feel like I deserve it. You don't deserve anything other than the OPPORTUNITY. That is what a capitalistic economy gives you. The opportunity to go out, work hard and better yourself. Do you see people in Cuba, Russia, etc bettering themselves? Not a freaking chance. Look at all of the socialistic governments that have imploded over history. Why? Because people want the opportunity to do what they want and desire a better life for them and their children.
The thing that scares me even more -- look at all of the REPUBLICS that imploded when the population realizes that they can vote for people to give them things -- like FREE COLLEGE, HEALTHCARE ...
We as a country are doomed with the upcoming generations (and before you ask I am 43)
Posted on 11/13/15 at 11:52 am to Lsupimp
quote:
My sixteen year old brought home her first check recently and had that moment of "tax clarity". It was priceless.Every parent enjoys that moment.
I will get that joy this year. so looking forward to it.
Posted on 11/13/15 at 11:53 am to drhuggybear
People will say you and I are chicken little but I agree with you. When the population can vote themselves in into more free stuff a democracy can no longer exist.
Posted on 11/13/15 at 12:17 pm to drhuggybear
quote:
What you are leaving out is that the income in this chart is W-2 income. There is more "income" for most people than that. Dividends, interest, etc. When you factor in all of those other forms of "income taxes," you can easily get close to the 50% tax rate for those damned 1%.
Do you have any idea what you are talking about or just talking out of your arse?
Adjusted Gross Income
quote:
In the United States income tax system, adjusted gross income (AGI) is an individual's total gross income minus specific deductions.[1] Taxable income is adjusted gross income minus allowances for personal exemptions and itemized deductions. For most individual tax purposes, AGI is more relevant than gross income.
Gross income is sales price of goods or property, minus cost of the property sold, plus other income. It includes wages, interest, dividends, business income, rental income, and all other types of income. Adjusted gross income is gross income less deductions from a business or rental activity and 21 other specific items.
But what is "Gross Income"?
quote:
Gross income includes "all income from whatever source," and is not limited to cash received. It specifically includes wages, salary, bonuses, interest, dividends, rents, royalties, income from operating a business, alimony, pensions and annuities, share of income from partnerships and S corporations, and income tax refunds.[2] Gross income includes net gains for disposal of assets, including capital gains and capital losses. Losses on personal assets are not deducted in computing gross income or adjusted gross income.
Posted on 11/13/15 at 12:27 pm to ShamelessPel
Oh, sick burn baw
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