Lived there

Young Harris, GA

#1 Sep 26, 2012
As long as I'm venting this morning, there's something else that pisses me off - the notion that when the super-rich "invest," jobs are created.

IPOs and venture capital notwithstanding, their "investments" are mainly in purchased stocks - bought from the seller (via Wall Street). Not one dime goes to the company.
Stock income

Cornelia, GA

#2 Sep 26, 2012
Income derived through the trading of stocks is taxed either as a long or short term capital gain. Obama said he was't going to raise taxes on caital gains. OOPS, he fibbed. This means that when you take the mandated payout from your retirement account, you will pay an increased rate of tax.
The biggest problem is having a bunch of bureaucrats, with no understanding of the consequences of their actions continually changng the rules. The best thing they could do would be to leave it alone, stop trying to pick the winners and losers in the general economy and find ways to stop wasting the tax monies they have been entrusted to use.
Lived there

Young Harris, GA

#3 Sep 26, 2012
Stock income wrote:
Income derived through the trading of stocks is taxed either as a long or short term capital gain. Obama said he was't going to raise taxes on caital gains. OOPS, he fibbed. This means that when you take the mandated payout from your retirement account, you will pay an increased rate of tax.
The biggest problem is having a bunch of bureaucrats, with no understanding of the consequences of their actions continually changng the rules. The best thing they could do would be to leave it alone, stop trying to pick the winners and losers in the general economy and find ways to stop wasting the tax monies they have been entrusted to use.
I understand your logic, although I don't agree with all of it. The comment about bureaucrats however, I TOTALLY agree with!

The "investments" the super-rich and others make in the stock market isn't for their retirement, it's strictly for profit and almost always held in a trust account, which, should they die, isn't taxed - just the PIN number (taxpayer ID) on the trust document is changed. AND it's all legal!

Hell, everything I own, my "estate," such as it is, is in a trust - house, cars, toys, cash, stocks, etc.- and all it takes to transfer it to my heir is a signature, or a stipulation in my will. Technically, and legally, I don't own anything so all this crap about inheritance tax punishing the wealthy is just that, smoke and mirrors.
Lived there

Young Harris, GA

#4 Oct 1, 2012
Stock income wrote:
Income derived through the trading of stocks is taxed either as a long or short term capital gain. Obama said he was't going to raise taxes on caital gains. OOPS, he fibbed. This means that when you take the mandated payout from your retirement account, you will pay an increased rate of tax.
That's been in the tax code for decades. Obama didn't change Jack shit!
stock income

Toccoa, GA

#5 Oct 1, 2012
You got me on that, all that is true.
flaidiot

Orlando, FL

#6 Oct 1, 2012
if you don't understand economics go ahead and vote for the democrats. they will surely change the way business works and investments are made. spain greece the eu in general, that is our future with the democrats. the super rich are not the main people who invest in stocks and bonds. most pension plans and small investors are the ones making investments. also the crooks in congress who are allowed inside information. of course if your defination of the super rich in anyone with more than you then i can see your point. lets bury them take their money and spread it around. more than likely that is what is going to happen.
you are fla idiot

Demorest, GA

#7 Oct 3, 2012
Hate to tell you this, but the system that exists today is the same one that crashed the U.S. and the rest of the world. It took retirement accounts from hard working people, it also took a lot of their homes. All that happened while the rich 5% had 15% increases in net worth. Trickle down has NEVER worked for anyone. The super rich is the upper 5% of Americans, the ones that have 90% of the countries wealth and 100% of politicians in their pockets. They have TV and radio flooded with views that only enhance their positions at the top. We are not talking about business people, we are talking about U.S. based family empires that want to control everything, wake up.
Wondering

Jefferson, GA

#8 Oct 3, 2012
Lived there wrote:
<quoted text>
That's been in the tax code for decades. Obama didn't change Jack shit!
Yo are as usual badly misinformed. Using profanity to make your point proves how desperate you liberals are to silence anyone that holds an opinion differing from your own. Intellectual laziness....
Wondering

Jefferson, GA

#9 Oct 3, 2012
you are fla idiot wrote:
Hate to tell you this, but the system that exists today is the same one that crashed the U.S. and the rest of the world. It took retirement accounts from hard working people, it also took a lot of their homes. All that happened while the rich 5% had 15% increases in net worth. Trickle down has NEVER worked for anyone. The super rich is the upper 5% of Americans, the ones that have 90% of the countries wealth and 100% of politicians in their pockets. They have TV and radio flooded with views that only enhance their positions at the top. We are not talking about business people, we are talking about U.S. based family empires that want to control everything, wake up.
Calling someone an idiot when you have no clue as to what you are talking about, is just another example of how lazy liberals are.
Beargate

Dawsonville, GA

#10 Oct 3, 2012
you are fla idiot wrote:
Hate to tell you this, but the system that exists today is the same one that crashed the U.S. and the rest of the world. It took retirement accounts from hard working people, it also took a lot of their homes. All that happened while the rich 5% had 15% increases in net worth. Trickle down has NEVER worked for anyone. The super rich is the upper 5% of Americans, the ones that have 90% of the countries wealth and 100% of politicians in their pockets. They have TV and radio flooded with views that only enhance their positions at the top. We are not talking about business people, we are talking about U.S. based family empires that want to control everything, wake up.
I agree with almost everything in your post except the "U.S. based family empire" part. The American elites are just cogs in a much bigger wheel. The wheel is in plain sight but no one can see it.

All in all, an excellent post. Thanks
look threw

Demorest, GA

#11 Oct 4, 2012
Wondering wrote:
<quoted text>
Calling someone an idiot when you have no clue as to what you are talking about, is just another example of how lazy liberals are.
You might want to look threw the fog that clouds your mind. flaidiot is the guys/gals screen name on Topix, I just agreed with him/her. Be sure to stay in line and follow the leader down the path to the poor and poorer middle class, your ignorance is showing.

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