Mitt Romney

[UpstateNYUPSer(Ret)]

Sure, those that earn money by having money would be paying no taxes , only those that need to work for a living will be paying taxes. Good deal !

Klein, capital gains also apply to the sale of your home, although I do believe there is an income threshold where the tax kicks in.

 

[klein]

Lets say I had 250 Million like Romney, and bought UPS shares from it all. I can live off the dividends alone, which would be subject to capital gains tax, but conservatives such as Hoaxster and trinkle, say, I should get those dividends tax free, and if I sell shares and make a huge profit, that's also tax free.
Whowhooo, all you need is money and never pay taxes ever again !

 

[trplnkl]

Yup, that's equal alright, 10% flat tax for everyone.
And perhaps when it comes to raises, 5% for everyone. If someone earns $10/hr they'll earn 10.50/hr next year .
The CEO, Hollywood Star, or Professional Football player who earns $10.000/hr gets a $500 raise/hr
That's how it's been going for the past 30 or something years in America, might as well stay conservative and keep that going and totally extinct the middle class.

I do understand you have no clue how to do math and have no clue what percentage means. I feel sorry for you.

Where did you get the 10% flat tax? I never mentioned a number.

Why don't you splain it to me genius.
Share your extensive knowledge of math and how percentages work. Remember to keep it simple.

Wage increases have nothing to do with this conversation.

 

[klein]

Where did you get the 10% flat tax? I never mentioned a number.

Why don't you splain it to me genius.
Share your extensive knowledge of math and how percentages work. Remember to keep it simple.

Wage increases have nothing to do with this conversation.

No you didn't mention a number, but you said everyone should pay the same percentage, and I took 10% as an example. Besides that, read the post above you'rs I posted !

 

[trplnkl]

Lets say I had 250 Million like Romney, and bought UPS shares from it all. I can live off the dividends alone, which would be subject to capital gains tax, but conservatives such as Hoaxster and trinkle, say, I should get those dividends tax free, and if I sell shares and make a huge profit, that's also tax free.
Whowhooo, all you need is money and never pay taxes ever again !

Hey KLEENEX ..Where did I say dividends shouldn't be taxed? I didn't say that, so once again you are making crap up. On capital gains yes there should be a tax and there is. I can't say that I agree totally with the tax schedules that are in effect right now, but that is a separate debate. One more time, don't misquote people, you aren't good enough at twisting.

 

[klein]

As far as I know, dividends are taxed at capital gains tax rates. Or is America different ?
Interest, dividends here are taxed as capital gains (30% btw, too)

 

[trplnkl]

No you didn't mention a number, but you said everyone should pay the same percentage, and I took 10% as an example. Besides that, read the post above you'rs I posted !

I didn't mention no taxes on dividends either, that make the rest of that post complete BS.

 

[klein]

I didn't mention no taxes on dividends either, that make the rest of that post complete BS.

I don't care ! If you like to pay 20-25% taxes and love that multi-millionares pay 13-15% taxes. Then so be it ! That's your opinion, and I respect it. Simple as that.
And like TOS mentioned, if you want capital gains taxes to be zero, so that people like Romney don't pay any taxes at all, I'm okay with that, too, if you don't mind making up the difference and paying a few percentage points more on taxes.

 

[trplnkl]

As far as I know, dividends are taxed at capital gains tax rates. Or is America different ?
Interest, dividends here are taxed as capital gains (30% btw, too)

As has been mentioned by more than one person, dividends are taxed as capital gains. The break down is varied depending on the length of the investment and the income bracket of the investor. As I read it seems that the difference is to encourage investing in new upstart companies as an example. The common everyday Joe Citizen may invest through their IRA or 401K but few would invest in those upstarts. There should be (if not already) a cap on how much one can earn tax free on cap gains.

 

[klein]

As has been mentioned by more than one person, dividends are taxed as capital gains. The break down is varied depending on the length of the investment and the income bracket of the investor. As I read it seems that the difference is to encourage investing in new upstart companies as an example. The common everyday Joe Citizen may invest through their IRA or 401K but few would invest in those upstarts. There should be (if not already) a cap on how much one can earn tax free on cap gains.

You might be right, there might even be a cap on how much you can earn on cap gains.
But , that's not controllable. Since anyone can open up offshore accounts and invest in stockmarkets from there.
I have funds invested in the Nasdaq for example (out of a Canadian Bank in Canada). The US has no jurisdiction over it. I pay Canada cap taxes for that, though.

Cap taxes in the Cayman Islands might be zero or very little ... who knows ?

 

[trplnkl]

I don't care ! If you like to pay 20-25% taxes and love that multi-millionares pay 13-15% taxes. Then so be it ! That's your opinion, and I respect it. Simple as that.
And like TOS mentioned, if you want capital gains taxes to be zero, so that people like Romney don't pay any taxes at all, I'm okay with that, too, if you don't mind making up the difference and paying a few percentage points more on taxes.

Now you have gone from just making crap up to down right lying. Show me one place where I posted any of that drivel.

 

[trplnkl]

You might be right, there might even be a cap on how much you can earn on cap gains.
But , that's not controllable. Since anyone can open up offshore accounts and invest in stockmarkets from there.
I have funds invested in the Nasdaq for example (out of a Canadian Bank in Canada). The US has no jurisdiction over it. I pay Canada cap taxes for that, though.

Cap taxes in the Cayman Islands might be zero or very little ... who knows ?

Just can't stay focused on the subject can you? Off shore accounts a different topic altogether. I did not say there was a cap on how much one can earn from cap gains nor did I suggest so. I did say there should be a bottom end limit on the amount one can earn TAX FREE from cap gains. Not the same thing as you claimed I said.

 

[moreluck]

Happy now ? Romneys taxes : 2010 paid 13.9% on $45.2 Million income.
Projected rate 15.4% in 2011.

I even pay more than that !

No law broken, what's your problem?

 

[moreluck]

Happy now ? Romneys taxes : 2010 paid 13.9% on $45.2 Million income.
Projected rate 15.4% in 2011.

I even pay more than that !

Did you give millions to charity too?

 

[moreluck]

Some of you claim to earn over 100K per year, so yes, with all deductions you would pay 35% here, easily !
Income tax alone, probably 30 or more percent (I have never earned 100K).
Newt paid almost 32% (on much less earnings then Mitt), now that's fair or is it not ?

According to OUR tax codes, there are different types of income and they are taxed at different rates. Look it up.

 

[moreluck]

Yup, that's equal alright, 10% flat tax for everyone.
And perhaps when it comes to raises, 5% for everyone. If someone earns $10/hr they'll earn 10.50/hr next year .
The CEO, Hollywood Star, or Professional Football player who earns $10.000/hr gets a $500 raise/hr
That's how it's been going for the past 30 or something years in America, might as well stay conservative and keep that going and totally extinct the middle class.

I do understand you have no clue how to do math and have no clue what percentage means. I feel sorry for you.

Your very first statement you say "flat tax for everyone".......then you say gibberish about a raise or "except". If it's a flat tax for all, that's it. That's all you need to say. You do realize that all those poor people you champion presently pay no taxes? So now they'll have to pay 10 %?

 

[moreluck]

Sure, those that earn money by having money would be paying no taxes , only those that need to work for a living will be paying taxes. Good deal !

The only people who pay no taxes are the @ 40% of the poorest people.

 

[moreluck]

Lets say I had 250 Million like Romney, and bought UPS shares from it all. I can live off the dividends alone, which would be subject to capital gains tax, but conservatives such as Hoaxster and trinkle, say, I should get those dividends tax free, and if I sell shares and make a huge profit, that's also tax free.
Whowhooo, all you need is money and never pay taxes ever again !

I don't think you pay any capital gains unless you sell the stock. You are talking about living on dividend income. Why don't you just go to the IRS site with all your claims and find out if they're true or not. You are totally mixed up.

 

[moreluck]

Lets say I had 250 Million like Romney, and bought UPS shares from it all. I can live off the dividends alone, which would be subject to capital gains tax, but conservatives such as Hoaxster and trinkle, say, I should get those dividends tax free, and if I sell shares and make a huge profit, that's also tax free.
Whowhooo, all you need is money and never pay taxes ever again !

Maybe you are not familiar with the saying.......Nothing's certain but death & taxes.

 

[moreluck]

As far as I know, dividends are taxed at capital gains tax rates. Or is America different ?
Interest, dividends here are taxed as capital gains (30% btw, too)

Again, if you want to talk precisely, go to the IRS site and learn something.....or.......forget about it!