How could you possibly know that? What instrument are you using to measure which takes "more faith?"
Soooo, What's the Difference Between a Democrat and a Socialist?
- Thread starter Nuk'EM Heels
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How could you possibly know that? What instrument are you using to measure which takes "more faith?"
Okay, so you don't have any way of knowing which takes "more faith." That's all I needed to know. Thank you!
You guys are taking this internet arguing thing to absurd levels.
It's faith- you either have it or don't. And no one is changing anyone's mind. And no one (I'm looking at you Nuk) needs to be so angry about others not sharing your faith.
It's faith- you either have it or don't. And no one is changing anyone's mind. And no one (I'm looking at you Nuk) needs to be so angry about others not sharing your faith.
A candidate for president in the 2012 cycle only payed 14.1% on over 13 million dollars. Meanwhile many families making less than 100k are paying over twice that rate. Go stick your head back in the sand.
Wrong. It requires no faith to be a secularist or a skeptic. I don't believe in any imaginary entities that there is no evidence to support the existence of. Christianity is by definition a cult. If you dont know that then you don't know anything. And it is an absurd non-sequitur to say that if I regard Christianity as a cult I must lump myself into that category because I'm not a Christian. Atheism is literally defined as the absence of faith in a divine creator. That doesn't take faith. That takes skepticism. That's literally the opposite of faith. You don't even know the definition of your own virtues...
Oh, you and those like you have more faith than anyone on the planet, it's just placed in the exact wrong direction.
Creation.
What caused all that you see and experience in life? Random chance? Rolling the bones? Why are we here? Because, we're here? Now, that takes more faith to believe than I can muster...
How much tax did Romney pay on that money before it was invested and earned investment income?
Should investment income be taxed at the same rate as W2 income?
Possibly, but as a follower of the religion of love and forgiveness, you are showing anything but. IMO, you are working against yourself here.
If our government is going to keep spending as much money as it is now then people making that level of income are going to have to start paying a higher rate. Frankly I'd rather us all pay 15% flat and shrink the gov't
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Admittedly, I'm human. And, I'm a believer; but, I'm not a saint and require forgiveness moment by moment.
I agree about the flat tax, but that is beside the point.
Do you think investment income should be taxed at the same rate as W2 income?
Here's a for instance: let's say you earn $100,000 and pay $30,000 in tax, leaving you with a $70,000 paycheck. You take that paycheck and invest it in 1 share of GSD's worm farm. The farm hits it big, sells out to the competitor and you get $100,000 for the share of stock (which originally cost you $70,000). How much should you pay in taxes?
That's between you and your maker. My only point is that you catch more flies with honey than vinegar and you currently have a trap that is full of not only vinegar, but a fair amount of piss too.
Look man, I believe Christ was the Son of God and that he died for our sins. But I have other doubts about some tenents of Christianity. However I feel if I ever discussed these with you, I would get lectured and condemned, and you and I are on the same side here. Anyone who is not a believer who is on the receiving end of a discussion with you is going to get completely defensive and not hear a word you say. In short, a missed opportunity.
The $30k profit should be taxed like any other income or profit.
If you took that same $70k, invested it in your own business instead of GSD's worm farm, and made the same $30k net, you'd pay income taxes on that profit. Why should the government encourage stock market speculation over entrepreneurship by taxing capital gains at a different rate than business profits or personal income? Seems to me profit is profit, and it should all be taxed at the same rate.
This is not true. If you invested in your own business, you would pay income tax on the 30K. But if you sold your business, you would pay capital gains tax on any profit earned from sale. It works the same for stock market speculation or small business.
The reason that the capital gains tax exists is to encourage investment (which carries with it a risk). Seems like pretty sound policy to me. If you take away this encouragement, investment falls.
Your scenario's getting too convoluted for me; I'm not sure how selling your own business relates to the worm farm investment. Then you're dealing with all kinds of other factors, what you originally invested in the business's existing assets, etc.
Bottom line, you've paid taxes on the $70k. If you invest it - whether it's in the stock market, a 1% interest savings account, GSD's worm farm, your own business, or lottery tickets - and you make a profit on that investment, it's income and should be taxed as such. You shouldn't pay taxes on the $70k again since you already have, but you should on the profit (the $30k in your scenario).
Bottom line, you've paid taxes on the $70k. If you invest it - whether it's in the stock market, a 1% interest savings account, GSD's worm farm, your own business, or lottery tickets - and you make a profit on that investment, it's income and should be taxed as such. You shouldn't pay taxes on the $70k again since you already have, but you should on the profit (the $30k in your scenario).
Why does it have to be a worm farm? Can't I have something cool in this fictional scenario? Like a brothel or escort service or something? I mean, worm farm? C'mon...
This is the first I've read of this thread. I've enjoyed the bickering between Nuk and uncboy. You can tell Strum wants in on the bickering but people are kind of ignoring him.
4 star thread. Would be 5 star thread if I owned something better than a worm farm.
This is the first I've read of this thread. I've enjoyed the bickering between Nuk and uncboy. You can tell Strum wants in on the bickering but people are kind of ignoring him.
4 star thread. Would be 5 star thread if I owned something better than a worm farm.
Look, if you earn me $30k on the worm farm we'll let you try out something better. Gotta crawl (squirm? slither?) before you walk.
It should be a 6 star thread just because I got you to bitch about owning a worm farm.
What about if you invest the money in municiapl bonds? Currently these are tax free. And student loan interest? Because this is also tax free and represents the cost of what a student invested. Why should college students get a break just because they went to college?
Bottom line is that if you tax investment income at the same level as wages, investment will fall. And investment helps not only the investor, but the investee, if I may.
Feel free to keep throwing out exceptions and loopholes. My opinion is they should be simplified. If you have more money today than you had yesterday, the difference is income, and it should be treated equally regardless of its source, be it wages for labor, interest from savings, capital gains from investment, a banner year at the worm farm, etc. Fair is fair.
You know what, you're probably right. I'll try more honey, less vinegar in the future.
I think that is veeeeeery funny!Nuk'EM's new strategy:
Yep. But that W2 rate should also be lower for most people than it currently is.
When you need to boost economic activity it makes more sense to me to do it from the bottom up instead of the top down.
We also have to look at our tax structure within the context of the fact that we're well on our way to being 20 trillion dollars in debt. From a philosophical standpoint I think the fairest system is a flat tax where everybody pays the same rate no matter how much they make. But we've got a lot of ground to make up and there is an obscene concentration of wealth in this country. Making sure the people and corporations that are making 7 figures and up are paying their fair share seems like a logical first step to making up some of that ground to me.
I agree 100%. I am happy with doing away with the capital gains tax rate, as long as we go to a flat tax with no deductions. Maybe start the tax after the first $35k or something.
Flat tax and term limits for congress are my two top ways to reform the mess that is Washington.
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