Who do you support for U.S. Senate in...

Since: Jan 10

Location hidden

#32683 Dec 5, 2013
Skippy Peanut Butter wrote:
<quoted text>
Yep, that pretty much hits the nail on the head!!
Except that this poster doesn't realize that the "nail" is imaginary...
there

Dahlonega, GA

#32684 Dec 5, 2013
Skippy Peanut Butter wrote:
<quoted text>
Nope, I've always been under the impression that "Oh My" has female organs unlike myself, so - as usual - you're wrong again. And by the way, aren't you the "king" of Topix name changers?? Yep, I think so.

Really?? you change names a lot also, as do many others........

As for Oh my, I expect he'll be looking in a mirror tonight with a flower blossom in hand, picking the petals and saying "I wish I was, I wish I wasn't, I wish I was, I wish I wasn't."

Since: Jan 10

Location hidden

#32685 Dec 5, 2013
Skippy Peanut Butter wrote:
<quoted text>
The argument often used to defend the lower tax rate on capital gains is that the money has already been taxed. And while sales tax and income/capital gains tax may sound like apples and oranges I'm not sure it is.
Whether you've worked in a factory and take your money to buy a new truck or you get capital gains earnings and want to buy a yacht you're bettering yourself. Unfortunately, the one with capital gains earnings likely pays a lower tax rate.***
(*** It does depend on what tax bracket the factory worker is in, and assuming capital gains is the only source of income for the other. A single factory worker making $40,000 a year will be in the 25% tax bracket, while a millionaire who makes$2 million a year off stocks will pay about 20%)
Well, this poster gets an "A" for effort, but an "E" for content.

"The argument often used to defend the lower tax rate on capital gains is that the money has already been taxed."

What is posted is accurate, but only part of the argument (and much less of an impact than the rest of the arguments). 1/2 point granted.

"And while sales tax and income/capital gains tax may sound like apples and oranges I'm not sure it is."

It is, but I'm curious as to why this poster isn't sure. 0 points.

"Whether you've worked in a factory and take your money to buy a new truck or you get capital gains earnings and want to buy a yacht you're bettering yourself."

2 comments:
1. Oh, the factory worker isn't bettering him/herself by buying a new truck?
2. Another wealth envy comment.

0 points.

"A single factory worker making $40,000 a year will be in the 25% tax bracket, while a millionaire who makes$2 million a year off stocks will pay about 20%)"

Several comments:
1. Someone (an individual, not married, filing jointly) with $40K TAXABLE income (NOT EARNINGS, they probably make $48-$50K) has a tax liability of $6,036 for 2012, which is 15.09% of their TAXABLE income, NOT 25%.

2. Where does this poster get their info? Does the poster know the difference between making $40K a year and what that person's taxable income would be?

3. A "millionaire"? Another wealth envy comment.

4. If "millionaire's" ONLY income is $2 million a year, they won't be paying "about 20%".

0 points.

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Another fine example of the clueless and uneducated posting about stuff they don't know or understand very well.

You can't make this stuff up.

Since: Jan 10

Location hidden

#32686 Dec 5, 2013
General Robert E Lee wrote:
<quoted text>
Factory worker has a $10K liability on income, Millionaire has a $400K liability on income. Factory worker pays tax ($2K +/-) on a truck worth $25K. Millionaire pays tax ($12K +/-) on a yacht worth $200K.
By the time all is said and done, with all taxes figured in, who pays more taxes, either gross or as a POI?
At an income of $40k/year, most would be better served by investing that monthly truck payment instead of buying another truck. Novel concept, isn't it?
You also have made a case in favor of The Fair Tax.
+1
Unfortunately, this is way beyond the comprehension level of the poster you're responding to and Einstein.

Since: Jan 10

Location hidden

#32687 Dec 5, 2013
the truth wrote:
<quoted text>
All I have to say to you is you need to get our a little more, or maybe change the channel on your personal idiot box. You might learn something, you might not believe it but you would at the very least know about it.
Oh, the irony of this post.
there

Dahlonega, GA

#32688 Dec 5, 2013
Bill in Dville wrote:
<quoted text>
Except that this poster doesn't realize that the "nail" is imaginary...

like maybe imaginary friends and imaginary obama tax cuts......


friends:::

http://www.google.com/imgres...

tax cuts::::

http://www.ncpa.org/sub/dpd/index.php...

Since: Jan 10

Location hidden

#32689 Dec 5, 2013
there wrote:
<quoted text>
Translation:::
I dont have a dam thing to back up what I said....I was blowing smoke in the wind to see how many fools fell for it, luckily my libroid buddies believe everything I say, even though it is all made up.........
Eintein has been proven wrong (factually) and clueless and uneducated so many times, it's all he/she has (blowing smoke in the wind).

Since: Jan 10

Location hidden

#32690 Dec 5, 2013
Skippy Peanut Butter wrote:
<quoted text>
Nope, not inaccurate, rates were quoted directly from the IRS website. Try again. It is true that deductions will lower the tax rate, but I quoted the percentage before any applicable deductions. Thanks for playing (with your poop) try again.
Poster said someone making $40K a year was in the 25% tax bracket:

"A single factory worker making $40,000 a year will be in the 25% tax bracket,"

Poster said "rates were quoted directly from the IRS website. Try again."

WRONG. Tax on single person with $40K of TAXABLE income is $6,036.
http://www.irs.gov/pub/irs-prior/i1040tt--201...

6,036/40,000 = 15.09%. NOT 25%.

This conversation would be funny if it weren't so sad. These clueless and uneducated people vote.
there

Dahlonega, GA

#32691 Dec 5, 2013
Bill in Dville wrote:
<quoted text>

You can't make this stuff up.

Obviously he did..........or maybe it's his method of the rabbit in the hat trick.......




Since: Jan 10

Location hidden

#32692 Dec 5, 2013
Skippy Peanut Butter wrote:
<quoted text>
...
And by way, wouldn't the millionaire be better served to not buy a yacht and having a monthly yacht payment, too??...
Another wealth envy comment.

----------
Wealth envy is an ugly thing. They have it. You don't.

Somebody else got all the breaks. You didn't.

They got an education. You didn't.

They worked their a$$es off, including long hours and weekends. You didn't.

They took risks, including investing their own money if necessary, to build a business. You didn't.

"Shared prosperity" = Socialism...

“If you’re not a liberal at 20, you have no heart, and if you’re not a conservative at 40, you have no head.” Winston Churchill

“Socialism is a philosophy of failure, the creed of ignorance and the gospel of envy, its inherent virtue is the equal sharing of misery.” Winston Churchill

“Common sense is a flower that doesn’t grow in everyone’s garden…”

The entire liberal philosophy is based on anti-individualism and burdened down with a complete lack of logic. No liberal has ever been able to explain why it is OK for someone to use the government to do for them what would be a crime if they did it for themselves- such as seize someone else’s property because you think you need it more than they do…

Since: Jan 10

Location hidden

#32693 Dec 5, 2013
Skippy Peanut Butter wrote:
... let me revisit my last paragraph. I didn't make that clear at all. I'm not referring to taxes paid for the item itself, but the tax rate paid for what was earned in order to buy the product...
Another wealth envy comment, not even recognizing that the taxes were on different types of income...

“I Offer You Truth!”

Since: Jul 07

Tampa, FL

#32694 Dec 5, 2013
Aggie23 wrote:
<quoted text>
Bravo, the "race card" - how....predictable.
Hhhhhhmmm....

Why is it you never serve up your "race card" comments when your pals (blightedsnot, buckprivatebobbie, groper, eric, obseptictank, et al) are firing off their racially charged postings?

No need to answer; the question is purely rhetorical.

We know why your posts are shaded in the manner they are.

Poor thing...

“I Offer You Truth!”

Since: Jul 07

Tampa, FL

#32695 Dec 5, 2013
there wrote:
<quoted text>
Duh..........
The investor living off his investments pays taxes twice, while the working stiff pays once........
The investor you envision as buying a yacht most likely would have had wages above $400k a year, putting him the 35% tax rate, next year 39.6% tax rate, during his working years.
If he is now living off his capital earnings of %2 mil a year, he is taxed again at 20%.
So just where is hell does he pay less taxes percentage wise, or otherwise, than a fella paying at the rate of either 10% or 15%????
Uh, no an investor is not taxed twice on previously earned (and invested) money. He or she is taxed on the new earnings generated by the previous earnings. Just as I am taxed, not on the previously earned money I use to buy securities, but, on the gains I realize (upon selling said securities) from the increase in the prices of those securities above their purchase price.

Please refrain from attempting to pontificate on complex subjects that are beyond your intellectual capabilities to understand.

I, for instance, never venture to "pontificate" on oceanography, thermonuclear fission, biochemistry, neuropathology, rocket propulsion, quantum physics, archaeology, cardiac surgery, hieroglyphics and other subjects I possess little, if any, knowledge of. By practicing this mature kind of self restraint I avoid making an *ss of myself, as you have in this instance.

Enjoy the rest of your day.

“I Offer You Truth!”

Since: Jul 07

Tampa, FL

#32696 Dec 5, 2013
Bill in Dville wrote:
<quoted text>
Poster said someone making $40K a year was in the 25% tax bracket:
"A single factory worker making $40,000 a year will be in the 25% tax bracket,"
Poster said "rates were quoted directly from the IRS website. Try again."
WRONG. Tax on single person with $40K of TAXABLE income is $6,036.
http://www.irs.gov/pub/irs-prior/i1040tt--201...
6,036/40,000 = 15.09%. NOT 25%.
This conversation would be funny if it weren't so sad. These clueless and uneducated people vote.
Actually you are both in error.

Excepting for those states with no state income tax, the real total tax rate would be in the 20% range.

How many times do I have to caution you about stupidly attempting to pass yourself off as some kind of income tax authority?

Poor thing...

"The whole truth is always vastly superior to a partial or distorted truth." – The Book of Dave, 4:2
Skippy Peanut Butter

Blairsville, GA

#32697 Dec 5, 2013
there wrote:
<quoted text>
Duh..........
The investor living off his investments pays taxes twice, while the working stiff pays once........
The investor you envision as buying a yacht most likely would have had wages above $400k a year, putting him the 35% tax rate, next year 39.6% tax rate, during his working years.
If he is now living off his capital earnings of %2 mil a year, he is taxed again at 20%.
So just where is hell does he pay less taxes percentage wise, or otherwise, than a fella paying at the rate of either 10% or 15%????
I see reading comprehension isn't your big thing... in the example I used the investor had only income from capital gains. Try, try again.
Skippy Peanut Butter

Blairsville, GA

#32698 Dec 5, 2013
Bill in Dville wrote:
<quoted text>
Another fine example of the clueless and uneducated using an "apples and oranges" comparison.
The car this poster buys is not an asset that would be subject to capital gains treatment, unless that was his/her business. Not likely.
This is a great example of how the clueless and uneducated can make posts about stuff they know nothing about...
You need to brush up on you reading comprehension also. Never did I claim or indicate such a thing. But spin it the only way you can to save face.
Skippy Peanut Butter

Blairsville, GA

#32699 Dec 5, 2013
Bill in Dville wrote:
<quoted text>
I've never done an analysis, nor do I recall reading one, but my knowledge from preparing friend's tax returns indicates a lot more people lose money than make a good bit of money on investments.
Wondering if that's one of the reasons why capital losses are limited to how much can be deducted in one year, although the "excess" loss can be carried forward to future years.
Also wondering if any of the clueless and uneducated could analyze and explain...
I think if I were you I wouldn't admit that most of your friends mostly lost money on investments. But the apple doesn't fall far from the tree, does it?

“I Offer You Truth!”

Since: Jul 07

Tampa, FL

#32700 Dec 5, 2013
General Robert E Lee wrote:
<quoted text>
The money that is invested or used to buy stock has been taxed also, sometimes more than one time, not that a sales or transaction tax is relevent to an income or capital gains tax.
How can one spend money in a sales tax(able) transaction (buying clothing, shoes, furniture, tires, meals, airline tickets, etc.) and still have that same money available to invest in stocks?

ROTFLMAO!!!

Poor thing...doesn't know when to keep his mouth shut, so he's continually finding new and ingenious ways to make a complete fool of himself.

“Registered Conservative”

Since: Jul 11

Draketown, GA

#32701 Dec 5, 2013
DapperDave wrote:
<quoted text>
How can one spend money in a sales tax(able) transaction (buying clothing, shoes, furniture, tires, meals, airline tickets, etc.) and still have that same money available to invest in stocks?
ROTFLMAO!!!
Poor thing...doesn't know when to keep his mouth shut, so he's continually finding new and ingenious ways to make a complete fool of himself.
Said no such thing. Go practice your reading skills.
Skippy Peanut Butter

Blairsville, GA

#32702 Dec 5, 2013
DapperDave wrote:
<quoted text>
Actually you are both in error.
Excepting for those states with no state income tax, the real total tax rate would be in the 20% range.
How many times do I have to caution you about stupidly attempting to pass yourself off as some kind of income tax authority?
Poor thing...
"The whole truth is always vastly superior to a partial or distorted truth." – The Book of Dave, 4:2
Hey as long as Bill in Dumbville gets his a$$$ kicked by you, I don't mind admitting I'm wrong. I used the "marginal" tax brackets provided by the IRS. I don't pretend to be an expert like some of the pontificating fools on here (to borrow your language).

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