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re: Dumb f**ks that scream “tax the rich more!”
Posted on 10/4/26 at 3:11 pm to Ben Rumson
Posted on 10/4/26 at 3:11 pm to Ben Rumson
You are so clueless
Posted on 10/4/26 at 3:34 pm to Ben Rumson
If he’s making 4%, Person A probably pays @12k in fed taxes and 2400 in LA state.
Only problem is S&P Dividend stocks average under 2%, so he’s not making squat. Not close to making enough to live off of. He’s going to tap into that nest egg to buy bigger ticket items, plus health insurance will eat up a lot as well.
If that guy chooses to live like a pauper and try to stretch that out over a lifetime, good luck. All that money will be back in the economy pretty quick. My bet he’ll be divorced, out of money and on government assistance by the time he’s 35, doing worse than Person B.
Only problem is S&P Dividend stocks average under 2%, so he’s not making squat. Not close to making enough to live off of. He’s going to tap into that nest egg to buy bigger ticket items, plus health insurance will eat up a lot as well.
If that guy chooses to live like a pauper and try to stretch that out over a lifetime, good luck. All that money will be back in the economy pretty quick. My bet he’ll be divorced, out of money and on government assistance by the time he’s 35, doing worse than Person B.
Posted on 10/4/26 at 3:39 pm to Ben Rumson
quote:It’s total taxable income, not first $49,450, big difference
That's why the first close to $50,000 in dividend income is taxed at zero %
This post was edited on 10/4/26 at 3:43 pm
Posted on 10/4/26 at 3:47 pm to Ben Rumson
Wierd how you skipped the part where the patents paid on the income, before they invested it for the kids. Now the kids are paying AGAIN. Wanna add that up.
Only a moron would compared investment retruns to w2 wages
fricking clown
Only a moron would compared investment retruns to w2 wages
fricking clown
Posted on 10/4/26 at 3:51 pm to Ben Rumson
quote:
That's why the first close to $50,000 in dividend income is taxed at zero %
Then I’m going to murder my accountant for having me pay taxes on those dividends
Posted on 10/4/26 at 4:17 pm to TFH
quote:fire your accountant and hire Ben Rumson, tax advisor. He’ll have you paying below 5% faster than you can say tax evasion!
Then I’m going to murder my accountant for having me pay taxes on those dividends
Posted on 10/4/26 at 4:20 pm to Ben Rumson
quote:
you won't be getting any responses from me on anything you post.
Uhhh…
Posted on 10/4/26 at 4:34 pm to Ben Rumson
quote:
The rich have all the angles figured out. I wouldn't be concerned about that if it wasn't for the fact that the only way they can get away with it is by putting more tax burden on the middle class to make up the difference.
Make up what difference?
You are assuming government shortfalls are because not enough taxes are being paid. The truth is the government spends too much. Giving them more just means they are going to spend more.
Posted on 10/4/26 at 4:39 pm to Ben Rumson
quote:
Just pointing out that there are plenty of scenarios where the rich pay a lower % in taxes than the working middle class that's all.
It’s pretty hard to create scenarios where the wealthy pay fewer dollars in taxes than the working middle class.
Don’t just look at income tax, but you have sales tax, property tax, business taxes, and they count too right?
Posted on 10/4/26 at 4:42 pm to Ben Rumson
quote:
HIs parents or his parents financial advisors have his wealth invested in very conservative, blue chip, high divided yield stocks averaging 4%.
Worst financial planning strategy ever for a 20 something person. The financial advisor should be run out of business for this...
Also this person builds no retirement money in 401K or SS in this scenario. This strategy also builds no investment value and eats the earnings year over year. The principle will eventually get shrunk by inflation to miniscule values over this person's lifetime.
Posted on 10/4/26 at 4:44 pm to Ben Rumson
quote:
Some have tried to say that my scenario is pretty rare, but it's estimated that there are around three million Americans with stock portfolios exceeding $2,000,000.
But there aren’t three million Americans under 30 without jobs with 2 million dollar portfolios. Your original premise is a huge outlier.
Posted on 10/4/26 at 4:49 pm to Ben Rumson
quote:
Just pointing out that there are plenty of scenarios where the rich pay a lower % in taxes than the working middle class that's all.
The ultra wealthy rely on people not understanding this. Obviously many posters here have golden yachts and are offended by your post
Posted on 10/4/26 at 5:08 pm to Ben Rumson
quote:
I'm not even going to count the 7.65% in payroll tax the company has to pay on the worker's behalf, but I should.
Funny that a person would mention this, but fail to mention the coporate income tax that those companies the rich guy invested in have already paid.
Posted on 10/4/26 at 5:23 pm to JackaReaux
quote:
The ultra wealthy rely on people not understanding this. Obviously many posters here have golden yachts and are offended by your post
A 2 million dollar investment portfolio doesn’t make someone ultra wealthy.
This post was edited on 10/4/26 at 5:27 pm
Posted on 10/4/26 at 5:39 pm to Ben Rumson
I hope you don't do your own taxes?
You should stick to subjects that are less "taxing" on your brain. SMDH
You should stick to subjects that are less "taxing" on your brain. SMDH
Posted on 10/4/26 at 5:44 pm to Ben Rumson
quote:Over 70% are first generation millionaires. They didn't inherit it, they earned it themselves. And over time they paid payroll and social security taxes just like everyone else. Dividends on a private stock portfolio don't count as wage credits towards your social security benefit, so they are not taxed as such. Most "next door neighbor" millionaires have a 401K/IRA and real estate value comprising much if not most of that million dollars. Neither of those can be withdrawn from without paying taxes.
It's estimated that there are around three million Americans with stock portfolios exceeding $2,000,000.
I disagree on two foundational elements. Primarily, I don't covet. Comparison is the thief of joy. Being jealous of material possessions is a childish notion that should be taught away by adolescence. No one can grow old and wise if they covet. Second, the government can't spend money more efficiently and effectively than the private sector. Collecting taxes weakens the backbone of the economy by taking money from those who produce, then sending it to the government which produces nothing. The government collects more than enough money in taxes that it needs. It is simply overspent, misspent, or outright stolen. Raising taxes solves nothing when the money is wasted. And that is the issue with the "tax the rich" crowd. They don't care how tax money is spent, only that the people they envy have it taken from them.
Posted on 10/4/26 at 5:52 pm to Ben Rumson
Dividends are distributed to shareholders. Dividends come from the profits of the corporation. They have already been taxed. Capital gains don’t necessarily accumulate over a short period of time. Should that income be taxed as if all of the gains came in one year?
This post was edited on 10/4/26 at 5:53 pm
Posted on 10/4/26 at 5:59 pm to Ben Rumson
I’ve never understood how anyone sane would lobby to give the corrupt thieves in government more of anyone’s money.
Posted on 10/4/26 at 6:23 pm to doubleb
For every dollar paid into the system, the government spends 1.3 dollars.
If the Republicans would end the corruption, ship the illegals out and imprison the fraud ….We might start cutting spending.
If the Republicans would end the corruption, ship the illegals out and imprison the fraud ….We might start cutting spending.
Posted on 10/4/26 at 7:44 pm to Ben Rumson
You cannot fix stupid ….
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