John F. Kerry

ok, first off all, i didnt need this fact to dislike romney.

but it certainly adds legitimate fuel to the flame of my dislike for him... and im inclinded to support the republican, so i can only imagine what the other 50% is thinking about it.

...but it got me thinking.

the tax code is complicated, everybody says that all the time... and its true obviously, but when u hear about this and romney paying 15% on carried interest, etc... it really brings home and puts in easy to see terms just how fucked up the tax code is-

the argument for low cap gains taxes is one thing- u wanna encourage investment, fair enough . thats an argument that i can kinda accept...

but WTF is with the low long term cap gains rate for things like carried interest and income you get on investments? its one thing to say ok if you hold a stock or mutual fund for more than a year and then sell it, you only pay 15% tax on the profit...that sounds ok...

but this shit is ridiculous- how does romney (or these other 1%-er hedge fund people) getting to pay an absurldly low tax rate on their millions in carried interest... how does that encourage investment? its just a fucking windfall for the richest people , while hardworking people who pay tax on regular income pay 35%+....

if they wanna talk about a grand bargain, then lets reform entitlements and also reform this carried interest tax break bulshit... i can't imagine a single person other than the 1% that would be against changing this- its totally unfair, and its total bulshit, and it doesnt even make sense, because its not encouraging investment at all... its encouraging smart rich people to keep their money in places like Bain, just so they can pay less taxes, its almost like doing the opposite of encouraging investment because people arent looking for good returns, per se, they are just looking for how to be able to get income and to pay the lowest possible tax rate on that income. so its almost like a market distortion or a bubble the same way obamacare or the housing bubble were... its basically anti-free market imo.

what say you ? anybody agree?

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Nasa under Obama

Mikey

taxation by segregation

or something

dunno

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RIP Gov

mothernature

OMG...JFK...I'm so proud of you! I knew you had a good mind.

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Sometimes sleep is the best revenge- Luke

The Rev

Whoa. I keep around 15% of my income too.



The Rev

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wellfleation

Wow, took you how long to figure out that millionaires don't pay there fair share of taxes. How many times have myself and others explained that just because a group (the ultra rich) appear figuratively to pay a majority of taxes, when % wise nothing can be further from the truth. We should be talking % paid of wealth earned and not the actual amount as the actual amount is not an accurate measurement. These are the figures that republicans like to point to and say. "Look, the wealthy are being gouged and that's why the economy is suffering!"

A) Companies are making record profits
B) It has been proven over and over again that wealth does not correlate with jobs (e.g. the trickle down theory is bullshit made up by a bunch of fat rich old republicans in the late 70's in order to make themselves even more wealthy through economic policy).
C) The reality is the wealthy have presently the lowest tax rate they've had in 60 years and that's not good enough for them. The wealthy truly wish for there to be a cast system right here in the US.They would just assume ruin the US as we know it in order to achieve this. To do this they wish to strip any and all safety nets and social programs. Think things like college loans which the republicans try to wipe out every chance they get isn't a government program that helps the middle class tremendously? That's just one example.

Unless you are rich you have to be stupid to be a republican. Or simply a brainwashed drone. But that's just my opinion.

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FIGHTPOWER

~1~

Hug your local welfare mom, at least she is actually putting the money into the economy instead of just sitting on it like the rich, admiring big piles of useless money.


My heroes make dick and spend it all, it's what keeps 'us' going.

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Roach

my tax rate is around 33 %

federal + state + city

but then again I'm not rich.

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The Rev

Don't forget the other stuff, Roach. There's property taxes, gas tax, cell phone tax, cable TV tax, sales tax, business taxes folded into the prices of the products you buy, etc. I bet when you iron it all out, the government takes well over 50% of what the average person makes.



The Rev

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stoneric

Ah yes, property taxes, it's great to be a home "owner".

wellfleation

And here is another thing that the republicans say to sucker the dumb-asses into supporting there policies/split the country - that the poor and middle class "don't have skin in the game". Fuck off, everyone pays taxes in one way or another, EVERYONE. Some taxes are regressive, such as any stupid ass states that tax food, for example.

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FIGHTPOWER

wellfleation

And republicans want to take away the child credit and mortgage tax breaks so many middle class people count on, of, while maintaining and further cutting there own tax rates.

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FIGHTPOWER

kamikazi89

if you want to have a serious discussion about tax reform, you're going to have to put the home mortgage tax deduction on the table, after all, why should renters subsidize your house

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katie west is the best

Roach

^ yea, I haven't noticed any drop in rental prices around the pittsburgh area.

_Paying some "flipper" and his exorbinant mortgage payments, not to mention 2012 property reassesment, that doubled most owners taxes...quadrupled some.

Property/home/rental prices are still way beyond reality.

Yet the media keeps trying to convince the bankers and the well to do, that prices have bottomed out...

not even close.

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