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  1. #14
    Join Date
    Dec 2000
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    I'm an old cowhand from the Rio Grande
    Posts
    17,089
    Dow at the time Bush dumped his wrecked economy....7,949.09

    Dow under Obama....12,932.73

  2. #15
    Join Date
    Jun 2006
    Location
    SW MO.
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    5,060
    Quote Originally Posted by tostaos View Post
    Has nothing to do with democrats. It's just not the best thing to do when you run for office. Americans have accounts in the Cayman and Switzerland to hide money or at least to circumvent taxation. Legally and illegally. Either way, not very patriotic.
    Neither is sucking off the govt.

  3. #16
    Join Date
    Sep 2006
    Location
    Losantiville
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    1,562
    Quote Originally Posted by chaard View Post
    Neither is sucking off the govt.
    So evading taxes is not subsidizing their income on the backs of the folks who actually pay taxes. Sounds alot like welfare for people in three piece suits, and we all know about those Cadillac driving - hey wait a minute the rich and the poor DO have something in common - a love for luxury cars.

  4. #17
    Join Date
    Jun 2006
    Location
    SW MO.
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    5,060
    Quote Originally Posted by netsalt View Post
    So evading taxes is not subsidizing their income on the backs of the folks who actually pay taxes. Sounds alot like welfare for people in three piece suits, and we all know about those Cadillac driving - hey wait a minute the rich and the poor DO have something in common - a love for luxury cars.
    Show me where Romney evaded taxes.

    There are plenty of poor people or so called poor, that steal from the govt via welfare and work getting paid under the table.
    I've seen these leeches first hand. BIL was a slumlord.

  5. #18
    Join Date
    Sep 2006
    Location
    Losantiville
    Posts
    1,562
    Lots of leeches at both ends of the spectrum. The technique is different but it still costs the treasury money. Do you think Robme will amend his return to get his tax rate down to 9%? I bet he will.

  6. #19
    Join Date
    May 2007
    Location
    Atlanta area
    Posts
    2,332
    Let's say you work 60 hours a week, you make $50,000 a year, and you pay 30% in taxes (FICA, Medicare, fed, state, local income tax). That leaves you with $35,000.

    Let's say you manage to invest $6,000 a year in the stock market and you make an average of 10% per year on your investment.

    You are able to invest $6,000/year because you live in a mobile home and you are careful with your money.

    You have two kids you want to put through college.

    How much income tax should you pay on your 10% stock market earnings?

    Now let's say after working 60 hours a week for 40 years and paying 30% income tax and socking your money away you retire as a millionaire.

    Now how much income tax should you pay on your 10% stock market earnings?
    Vacuum Technology:
    CRUD = Contamination Resulting in Undesirable Deposits.
    CRAPP = Contamination Resulting in Additional Partial Pressure.

    Change your vacuum pump oil now.

    Test. Testing, 1,2,3.

  7. #20
    Join Date
    Sep 2006
    Location
    Losantiville
    Posts
    1,562
    Quote Originally Posted by Space Racer View Post
    Let's say you work 60 hours a week, you make $50,000 a year, and you pay 30% in taxes (FICA, Medicare, fed, state, local income tax). That leaves you with $35,000.

    Let's say you manage to invest $6,000 a year in the stock market and you make an average of 10% per year on your investment.

    Good return!

    You are able to invest $6,000/year because you live in a mobile home and you are careful with your money.

    Investing for the future is good.

    You have two kids you want to help put through college.

    Personal choice, liberty, yada, yada, yada

    How much income tax should you pay on your 10% stock market earnings?
    Probably since it is income you should pay the same percentage as you do for other forms of income. But if you take advantage of a 529 you can do alot better!

  8. #21
    Join Date
    May 2007
    Location
    Atlanta area
    Posts
    2,332
    So after working so hard for so long I should pay another 30% in income taxes?
    Vacuum Technology:
    CRUD = Contamination Resulting in Undesirable Deposits.
    CRAPP = Contamination Resulting in Additional Partial Pressure.

    Change your vacuum pump oil now.

    Test. Testing, 1,2,3.

  9. #22
    Join Date
    Sep 2006
    Location
    Losantiville
    Posts
    1,562
    Yes you will be paying the going rate of federal and state income tax on the INCOME part of the invested money - not the principle. We have an income tax here in the US, like it or not, it should not discriminate based on how the income is produced.

  10. #23
    Join Date
    May 2007
    Location
    Atlanta area
    Posts
    2,332
    How about paying say 35% in federal income tax if I leave the money in the market for less than a year and 15% if I leave it in for the long term, where it will help to stimulate the economy?
    Vacuum Technology:
    CRUD = Contamination Resulting in Undesirable Deposits.
    CRAPP = Contamination Resulting in Additional Partial Pressure.

    Change your vacuum pump oil now.

    Test. Testing, 1,2,3.

  11. #24
    Join Date
    Sep 2006
    Location
    Losantiville
    Posts
    1,562
    This is how taxes were structured before, with long term and short term capital gains. I would be more favorable to the idea of long term capital gains with a longer period than one year, possibly 3 to 5 years.

  12. #25
    Join Date
    May 2007
    Location
    Atlanta area
    Posts
    2,332
    So I could sell a stock after owning it for 5 years and pay 15%, right? Is that what you are saying?
    Vacuum Technology:
    CRUD = Contamination Resulting in Undesirable Deposits.
    CRAPP = Contamination Resulting in Additional Partial Pressure.

    Change your vacuum pump oil now.

    Test. Testing, 1,2,3.

  13. #26
    Join Date
    Mar 2008
    Location
    Long Beach, CA
    Posts
    3,147
    Quote Originally Posted by Space Racer View Post
    ... if I leave it in for the long term, where it will help to stimulate the economy?
    I would think taking it out, paying the tax on it in real time, and using it for venture capital would stimulate the economy far better than leaving in the bank for them to loan out and make their interest on. Heck, taking it out to buy toasters, TV’s and vacations would stimulate the economy better than leaving it in.

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