Birthers are Crazy

Off Topic Politics & World Issues
181

[quote]strangemeadow wrote:

[quote]pittbulll wrote:

[quote]ZEB wrote:

[quote]pittbulll wrote:

[quote]ZEB wrote:

[quote]pittbulll wrote:
If I had Romney’s tax rate I could buy %16 percent more stock than I presently do [/quote]

If you had Romney’s income tax rate you’d have less money than you do now as he paid the highest maximum tax rate on his income. For the third time…he only had the better 15 percent rate when he invested what was left over after taxes from that income. It’s called capital gains tax.
[/quote]

Your wrong , I would trade tax rates any day you or he would like
[/quote]

Please explain why I am wrong. I gave you the correct explanation regarding Romney’s tax situation.

1-He paid the highest rates possible when he first earned his income.

2-He took the money left over after he paid taxes on his earned income and invested it in stocks and paid a 15 percent capital gains tax on that money when he sold those stocks.

That is precisely what happened. As I’ve already mentioned because of this he was actually taxed twice on the money he made. The highest rate the first time and then capital gains tax the second time.

I know this doesn’t fit what the MSLM wants you to think but it happens to be the truth. If you have some conflicting data which leads you to believe otherwise please post it so that I may comment. Otherwise, you should know that you’re walking around thinking things that are just not true and I don’t think you want that.

Thank you,

Zeb[/quote]

My Dear Zeb:) I am going to have to for go trying to explain to you any longer I can only repeat what I have said

A dollar that Mitt Romney has earned is worth more than $.16 than the dollar I have earned . Capital Gains taxes were designed for the wealthy to skirt paying the taxes that the lowly have to pay. The more wealth the less tax.

Sorry the concept is beyound you[/quote]
Can you elaborate? I don’t understand. Zeb seems to have it right.
[/quote]

You will have to be quick , what do you want me to elaborate on ?

182

[quote]pittbulll wrote:
Zeb what we have is socialism for the wealthy , middle class and the wealthy both support the poor , but the wealthy do it at a lower percentage of their income . We will not even get into if I want to compete with a Behemoth like Home Depot or Walmart. Their tax cuts would mean I would have to earn %50 more just to compensate for their tax cuts . That is the Tyranny our founding Fathers were so pissed about[/quote]

183

My dollar is taxed at %30 plus

Romney’s dollar is taxed at %14

that means Romney’s dollar is %16 stronger than my dollar all due to the tax code [/quote]

184

[quote]pittbulll wrote:
money is a tool to make other money. It also is a gauge to measure success or failure . If i open a hardware store and compete with Home Depot .After overhead .

HD makes a dollar
No sales tax
No income tax
HD still has a dollar

I make a dollar
I pay %7 sales tax
I pay %30 income taxe
I have $.63

So for me to compete I have to make at least %37 more profit than HD

That is tyranny though taxation Our government is an extension of the very wealthy . Money controls our elections . The Barry or Mitt will do fine by their standards but they are two sides to the same coin[/quote]

185

[quote]pittbulll wrote:
My dollar is taxed at %30 plus

Romney’s dollar is taxed at %14

that means Romney’s dollar is %16 stronger than my dollar all due to the tax code [/quote]
[/quote]

Romney’s dollar is taxed for the SECOND time at 14%. The first time was likely close to 40%

186

[quote]doogie wrote:

[quote]pittbulll wrote:
My dollar is taxed at %30 plus

Romney’s dollar is taxed at %14

that means Romney’s dollar is %16 stronger than my dollar all due to the tax code [/quote]

Romney’s dollar is taxed for the SECOND time at 14%. The first time was likely close to 40%[/quote]

How do you figure ? income is income . If i buy a stock for a dollar and it earns a dollar I do not pay taxes on 2 dollars I pay taxes only on thr dollar eaned ?

187

[quote]pittbulll wrote:

[quote]ZEB wrote:

[quote]pittbulll wrote:

[quote]ZEB wrote:

[quote]pittbulll wrote:
If I had Romney’s tax rate I could buy %16 percent more stock than I presently do [/quote]

If you had Romney’s income tax rate you’d have less money than you do now as he paid the highest maximum tax rate on his income. For the third time…he only had the better 15 percent rate when he invested what was left over after taxes from that income. It’s called capital gains tax.
[/quote]

Your wrong , I would trade tax rates any day you or he would like
[/quote]

Please explain why I am wrong. I gave you the correct explanation regarding Romney’s tax situation.

1-He paid the highest rates possible when he first earned his income.

2-He took the money left over after he paid taxes on his earned income and invested it in stocks and paid a 15 percent capital gains tax on that money when he sold those stocks.

That is precisely what happened. As I’ve already mentioned because of this he was actually taxed twice on the money he made. The highest rate the first time and then capital gains tax the second time.

I know this doesn’t fit what the MSLM wants you to think but it happens to be the truth. If you have some conflicting data which leads you to believe otherwise please post it so that I may comment. Otherwise, you should know that you’re walking around thinking things that are just not true and I don’t think you want that.

Thank you,

Zeb[/quote]

My Dear Zeb:) I am going to have to for go trying to explain to you any longer I can only repeat what I have said

A dollar that Mitt Romney has earned is worth more than $.16 than the dollar I have earned . Capital Gains taxes were designed for the wealthy to skirt paying the taxes that the lowly have to pay. The more wealth the less tax.

Sorry the concept is beyound you[/quote]

And I’m sorry that you don’t understand what capital gains taxes are. You have to separate cheap political talk from reality in order to understand this Pitt.

It has nothing to do with the wealthy as they are taxed at the top percentage–ALWAYS! As we have a progressive tax system. I posted proof of this earlier.

That is called income tax.

But everyone, the rich, the middle class whomever is able to purchase a stock, a bond, or even a piece of property is taxed under the capital gains tax law. This does NOT give the rich an advantage and some say it is a huge disadvantage because as I’ve said multiple times, it in essence taxes them twice.

The first time is called income tax where they pay the most out of any tax bracket (as I proved to you many posts ago). The second tax is called “capital gains” where they pay a second time this is 15%. It aint rocket science bud.

Take your statement for example:

Designed for the wealthy to skirt paying the taxes that the lowly have to pay? HUH? The lowly (if you mean the poor) pay ZERO taxes! The bottom 48% pay NOTHING. The middle class pay far less than the top 10%. This is a fact I’ve posted links, but don’t use my links use google Pitt.

You have it exactly backwards.

Now do me a favor, google some information which can back up your statement. As I said if you are getting the information from someplace I’d like to read it.

Fair request right?

Because if that is the case you are very misinformed.

Everyone, even your democratic hero’s know that the more income you make the more you pay in tax. What they want is for the rich to pay even more! It’s not that they think they don’t already pay more than the average Joe. That’s why I posted the facts on the top 1% paying 37% of all income tax. It doesn’t take an accountant to figure out that they are paying more. We do have a “progressive tax system” Why you don’t understand this is starting to get comical.

What you are waking around assuming is true is absolutely WRONG!

And believe it or not I am not belittling you, I actually want to help you understand this so that you can have a better grasp on the tax system. Don’t worry you can still hate the rich and want them to pay even more, it’s just that the hate will come from a more accurate place.

188

It’s almost like starting two businesses by the same person.

Business A: taxed at 40%

Business B: taxed at 14%

Who are the people who can afford to put the most money into stock and thus make the most from it?

If you guessed the wealthy, you’re correct.

edit: Afford to put the largest percent of their income into stock to make it more correct

189

[quote]pittbulll wrote:

[quote]doogie wrote:

[quote]pittbulll wrote:
My dollar is taxed at %30 plus

Romney’s dollar is taxed at %14

that means Romney’s dollar is %16 stronger than my dollar all due to the tax code [/quote]

Romney’s dollar is taxed for the SECOND time at 14%. The first time was likely close to 40%[/quote]

How do you figure ? income is income . If i buy a stock for a dollar and it earns a dollar I do not pay taxes on 2 dollars I pay taxes only on thr dollar eaned ? [/quote]

Yes, you pay a lesser percent (called capital gains tax) on the dollar of investment income that you made. It is not regular income where the rich are taxed at a much higer rate. It is a second tax on anyone who invests in anything.

190

I do not understand it as well as my accountant but I understand it well enough to know Mitt’s dollar is worth more than my dollar, all thanks to our present tax code .

191

[quote]Fletch1986 wrote:
It’s almost like starting two businesses by the same person.

Business A: taxed at 40%

Business B: taxed at 14%

Who are the people who can afford to put the most money into stock and thus make the most from it?

If you guessed the wealthy, you’re correct.

edit: Afford to put the largest percent of their income into stock to make it more correct[/quote]

Yes, and that means that it is more punitive to the rich than to any other group. They pay about 40% on the initial money earned and then pay an additional 15 percent on any profit made through any type of investment.

If you throw in state taxes, property tax and all the other taxes that they have to match if they have employee’s that can add up to well over 50% or 60% of the total.

192

[quote]pittbulll wrote:
I do not understand it as well as my accountant but I understand it well enough to know Mitt’s dollar is worth more than my dollar, all thanks to our present tax code .

[/quote]

The firs part of your statement is true. I would advise you to spend an hour with your accountant and aske him what capital gains tax is. Secondly. Mitt’s dollar is not worth anymore than your dollar and some would say less as he is (as I’ve been saying) taxed twice on that money.

193

[quote]pittbulll wrote:
My dollar is taxed at %30 plus

Romney’s dollar is taxed at %14

that means Romney’s dollar is %16 stronger than my dollar all due to the tax code
[/quote]

His first dollar (as in earned income from his original job) was taxed at around 40% and you only paid about 30%. That makes your dollar worth more.

He then took what was left over invested it and a second time he was taxed 15% on it. You too can purchase a stock, bond, property or any other investment and you will get the exact same treatment!

194

I think the real question here Zeb Do you understand Capital Gains taxes ? Have you ever paid them ? I have a couple years where my Capital Gains were %50 of my income .

195

[quote]pittbulll wrote:
I think the real question here Zeb Do you understand Capital Gains taxes ? Have you ever paid them ? I have a couple years where my Capital Gains were %50 of my income .[/quote]
Dude, I’m in the top tax bracket, we pay 35% on our income. Then after tax, we invest some of that money. We then pay 15% capital gains tax.
What’s not to understand?
Sure there are deductions, but that’s the basics.
IF all of your income is from investments ie; capital gains, then sure, you only pay 15%.
But that’s only for the Warren Buffett types, not regular working people.

196

[quote]pittbulll wrote:
I think the real question here Zeb Do you understand Capital Gains taxes ? Have you ever paid them ? I have a couple years where my Capital Gains were %50 of my income .[/quote]

No, that’s not the real question as you have repeatedly posted disinformation about taxation. I fully understand the difference between the two and I have in fact paid capital gains taxes as well as income taxes every year for the past many years.

I also understand the difference between political demagoguery and actual facts. That’s what you need to understand. When you hear Obama saying stuff like “the rich need to pay their fair share” he’s not saying that they are not taxed at the highest rate and pay the most taxes. What he IS saying is that he wants them to pay even more because they have done so well.

If you grasp nothing else know that political talk from either party is not necessarily factual all the time.

And also know that we have many different taxes and income tax is NOT capital gains tax. Anyone can point the political finger at Romney (as the dems have done) and say “he’s only paying 15% when the rest of us are paying more.” That is supposed to incite you to hate the rich and vote for a democrat. it’s called class warfare. But what they don’t tell you is that Romney already paid the full shot of 40% on his original earned income. If they said that no one would hate the rich and they’d get less votes.

It’s all politics Pitt –

Honestly, I am telling you the truth.

197

[quote]strangemeadow wrote:

[quote]pittbulll wrote:
I think the real question here Zeb Do you understand Capital Gains taxes ? Have you ever paid them ? I have a couple years where my Capital Gains were %50 of my income .[/quote]
Dude, I’m in the top tax bracket, we pay 35% on our income. Then after tax, we invest some of that money. We then pay 15% capital gains tax.
What’s not to understand?
Sure there are deductions, but that’s the basics.
IF all of your income is from investments ie; capital gains, then sure, you only pay 15%.
But that’s only for the Warren Buffett types, not regular working people.[/quote]

The number of people who are actually wealthy enough to live off of capital gains income probably number less than 5,000 people.

That is just a guess but I’d be surprised if it were many more than that. And so what if there were? They earned the money paid the top tax percentage on it they then invested it and pay additional 15% on it and they are now wealthy.

When did that become wrong in America?

198

[quote]strangemeadow wrote:

[quote]pittbulll wrote:
I think the real question here Zeb Do you understand Capital Gains taxes ? Have you ever paid them ? I have a couple years where my Capital Gains were %50 of my income .[/quote]
Dude, I’m in the top tax bracket, we pay 35% on our income. Then after tax, we invest some of that money. We then pay 15% capital gains tax.
What’s not to understand?
Sure there are deductions, but that’s the basics.
IF all of your income is from investments ie; capital gains, then sure, you only pay 15%.
But that’s only for the Warren Buffett types, not regular working people.[/quote]

Let’s say all the money you earn is from investments , You pay %15 tax. When you earn $21 million a year in capital gains who needs a job , What don’t I understand ?

199

[quote]ZEB wrote:

[quote]strangemeadow wrote:

[quote]pittbulll wrote:
I think the real question here Zeb Do you understand Capital Gains taxes ? Have you ever paid them ? I have a couple years where my Capital Gains were %50 of my income .[/quote]
Dude, I’m in the top tax bracket, we pay 35% on our income. Then after tax, we invest some of that money. We then pay 15% capital gains tax.
What’s not to understand?
Sure there are deductions, but that’s the basics.
IF all of your income is from investments ie; capital gains, then sure, you only pay 15%.
But that’s only for the Warren Buffett types, not regular working people.[/quote]

The number of people who are actually wealthy enough to live off of capital gains income probably number less than 5,000 people.

That is just a guess but I’d be surprised if it were many more than that. And so what if there were? They earned the money paid the top tax percentage on it they then invested it and pay additional 15% on it and they are now wealthy.

When did that become wrong in America?

[/quote]

Where did you get the number 5000 ? I would bet it more

200

[quote]ZEB wrote:

[quote]strangemeadow wrote:

[quote]pittbulll wrote:
I think the real question here Zeb Do you understand Capital Gains taxes ? Have you ever paid them ? I have a couple years where my Capital Gains were %50 of my income .[/quote]
Dude, I’m in the top tax bracket, we pay 35% on our income. Then after tax, we invest some of that money. We then pay 15% capital gains tax.
What’s not to understand?
Sure there are deductions, but that’s the basics.
IF all of your income is from investments ie; capital gains, then sure, you only pay 15%.
But that’s only for the Warren Buffett types, not regular working people.[/quote]

The number of people who are actually wealthy enough to live off of capital gains income probably number less than 5,000 people.

That is just a guess but I’d be surprised if it were many more than that. And so what if there were? They earned the money paid the top tax percentage on it they then invested it and pay additional 15% on it and they are now wealthy.

When did that become wrong in America?

[/quote]
Oh, don’t get me wrong, I have no problem with it at all. I hope for it to be me in the next 10 years. It’s a goal we have. Seriously.
The misinformation both sides put out is outrageous. Like when the Dems say “Republicans are gonna cut your SS” Well, they propose cutting the planned increases, that’s all. If you get $100 a month in SS, and it’s slated to go to $110, the proposal is cut 50%. Of the proposal. So you’d get $105, not $50.
People who take the news at face value are sheep.
Baahhh…(pointed at you Pitbull)