$2 Trillion Deficit

@AverageJoe1 said
Well thought, you qualify for whatever I can do for you.

You see, You’re mixing up two different things: whether investing takes effort, and whether the returns should be taxed differently. Nobody is saying investing takes no skill or risk. The point is that capital gains already come from money that was previously taxed, and those investments help fund businesses, ...[text shortened]... ith who pays taxes. Everyone all the way to the bottom should pay taxes.. losers…..dont seem to be.

Sorry, you are the one that keeps banging on about not paying taxes, because it's already been paid..

@AverageJoe1 said
Well thought, you qualify for whatever I can do for you.

You see, You’re mixing up two different things: whether investing takes effort, and whether the returns should be taxed differently. Nobody is saying investing takes no skill or risk. The point is that capital gains already come from money that was previously taxed, and those investments help fund businesses, ...[text shortened]... ith who pays taxes. Everyone all the way to the bottom should pay taxes.. losers…..dont seem to be.

I'm beginning to think you don't even know what a capital gain is.

When A sells a financial asset like a stock for more than he paid for it, that's a capital gain. So he has more money than he did before, just like my plumber.

Now how does that automatically translate to funding "businesses, expansion, innovation and jobs"? He might use it for that or he might buy some crack with it. Either way, he gets preferential tax treatment before he decides what to do with his windfall. And when was it "previously taxed"? The gain isn't taxed until he actually sells the asset.

I think you need to actually think about the logic of what you are claiming for a change rather than just spitting out what some propagandists told you.

@no1marauder said
I'm beginning to think you don't even know what a capital gain is.

When A sells a financial asset like a stock for more than he paid for it, that's a capital gain. So he has more money than he did before, just like my plumber.

Now how does that automatically translate to funding "businesses, expansion, innovation and jobs"? He might use it for that or he might buy s ...[text shortened]... f what you are claiming for a change rather than just spitting out what some propagandists told you.

Here's the deal....Your plumber gets taxed on labor income. Correct.

However, Investors get taxed on their having risked 'already earned' iocome, whiich happens over long periods. Capital gains tax policy isn't based on what someone 'might' spend the money on afterward. It's based on encouraging people to risk their capital in productive investments in the first place. THAT is the main thing I can say here.. This country runs on this concept. What better plan can there be?

These are simply different economic activities, the tax code treats them differently. It is a stretch-of-confusion to relate them equally.

But, yes, gaiins are often tied to money that was already taxed, of course. And the fact remains that when investors buy stocks bonds or whatever, venture capital, they create liquidity and lower the cost of raising money for businesses.

@AverageJoe1 said
Here's the deal....Your plumber gets taxed on labor income. Correct.

However, Investors get taxed on their having risked 'already earned' iocome, whiich happens over long periods. Capital gains tax policy isn't based on what someone 'might' spend the money on afterward. It's based on encouraging people to risk their capital in productive investments in the first pla ...[text shortened]... whatever, venture capital, they create liquidity and lower the cost of raising money for businesses.

You're obviously completely skipping over the "gains" part of capital gains.

The billionaires' chauffeur uses our publicly-funded road. The billionaires' private jet uses our airports. The billionaires' property values benefit from public investment in community and safety and security provided by our military, police.

Why should they be exempt from taxes just because their income isn't coming from a W-2?

@AverageJoe1 said
Here's the deal....Your plumber gets taxed on labor income. Correct.

However, Investors get taxed on their having risked 'already earned' iocome, whiich happens over long periods. Capital gains tax policy isn't based on what someone 'might' spend the money on afterward. It's based on encouraging people to risk their capital in productive investments in the first pla ...[text shortened]... whatever, venture capital, they create liquidity and lower the cost of raising money for businesses.

No they're not. Funds spent on buying stocks are no more "previously taxed" than those used to buy crack or ones used to pay my plumber.

Your whole argument rests on an obvious fallacy.

@wildgrass said
You're obviously completely skipping over the "gains" part of capital gains.

The billionaires' chauffeur uses our publicly-funded road. The billionaires' private jet uses our airports. The billionaires' property values benefit from public investment in community and safety and security provided by our military, police.

Why should they be exempt from taxes just because their income isn't coming from a W-2?

Well, I am barraged with many random disjointed comments from y’all. I am left with but to respond to your questions by asking you two questions.
Should investors pay taxes at all? Vs. ‘ why are capital gains taxed differently from wages? ‘You will even tie these concepts together when they simply are not. Could u pick one?.

Capital gains aren’t tax-free. Investors already pay taxes multiple times ..,, the corporations pay corporate tax first, then shareholders pay capital gains tax on what’s left. The lower rate exists because investment capital is mobile, risky, long-term, and fuels business growth, expansion, and jobs. You fellas just cannot get through this one point. This is my main point
If every gain like ordinary income is taxed as you seem to think it should be, would discourage investment and slow economic activity. The issue isn’t whether wealthy people use roads , asl everyone does. Whew!!The issue is whether the tax system should encourage productive investment or penalize it the same as consumption.
Take a moment and think that through. . Seems that you think from the position that everybody should be the same, which I guess translate to what I consider your ideas to be quite an unbalanced tax system, with no one making investments and capitalizing and taking risk all that goes along with what created us as the greatest country in the world. (if I may pontificate.!)
Today I might go out and buy a storage bin(not really) and rent bays to people and make money. All of that activity causes economic growth and creates jobs and by the way provides a service. I guess I could make up examples all day long. But when I do all that I pay taxes , to build those roads you’re talking about I do not get your posting these days.

@AverageJoe1 said
Well, I am barraged with many random disjointed comments from y’all. I am left with but to respond to your questions by asking you two questions.
Should investors pay taxes at all? Vs. ‘ why are capital gains taxed differently from wages? ‘You will even tie these concepts together when they simply are not. Could u pick one?.

Capital gains aren’t tax-free. I ...[text shortened]... l that I pay taxes , to build those roads you’re talking about I do not get your posting these days.

Everyone agrees that taxes are bad, but the government spent the money. Likely this number will get a lot higher because the gas tax was suspended and apparently the Navy is bleeding cash from the blockade. Someone's gotta pay this bill.

A 1-2 penny tax on wealth over $50 million would close this budget gap, and you could point to a balanced budget that wouldn't put unnecessary strain on your grandkids tax bill.

A 1-2 penny tax on wealth over $50 million would NOT discourage investing. The ROI in the US stock market or US real estate market outweighs that. Everybody still makes lots of money, just slightly less money, and they don't push the burden of $2 trillion worth of taxation to your grandkids.

@wildgrass said
Everyone agrees that taxes are bad, but the government spent the money. Likely this number will get a lot higher because the gas tax was suspended and apparently the Navy is bleeding cash from the blockade. Someone's gotta pay this bill.

A 1-2 penny tax on wealth over $50 million would close this budget gap, and you could point to a balanced budget that wouldn't put unne ...[text shortened]... ghtly less money, and they don't push the burden of $2 trillion worth of taxation to your grandkids.

Redistributing income will sure be a hard sell. but have at it. I’ll put it this way… If I had that kind of money, I would change a whole lot about where my money goes and what I do with it when I am posted up on by the government of the United States. Smart wealthy people know how to avoid stuff. Take howard Schultz, of Starbucks, who is worth $80 billion is. Do you think they are fools and are gonna give you people money when some of you don’t even work hard ?!?!Why don’t you start some example posting like it is going on and tell us how it’s going . give me an example of what happens when you start hitting them with the wealth tax for instance. I think it is 2% more when they have over a certain millions of dollars. 2% here 2% there. Still sounds like socialism. You and marauder have not read the book that socialism does not work. So you have an uphill battle.


Bank robber…” hell I just go where the money is”
You know, I’m sure that marauder wants the concept of natural law. I can tell you one thing… I would not like it. I like being my own man, depend on no one, and reaching for the golden ring every day. Marauder does not allow someone to have more rings than somebody else.
Hey, I just report the news

@AverageJoe1 said
Redistributing income will sure be a hard sell. but have at it. I’ll put it this way… If I had that kind of money, I would change a whole lot about where my money goes and what I do with it when I am posted up on by the government of the United States. Smart wealthy people know how to avoid stuff. Take howard Schultz, of Starbucks, who is worth $80 billion is. Do you th ...[text shortened]... Marauder does not allow someone to have more rings than somebody else.
Hey, I just report the news

Actually you just never stop lying.

@no1marauder said
Actually you just never stop lying.

Present to me, the exact lie thank you

@AverageJoe1 said
Present to me, the exact lie thank you

AJ: Marauder does not allow someone to have more rings than somebody else.

@AverageJoe1 said
Well, I am barraged with many random disjointed comments from y’all. I am left with but to respond to your questions by asking you two questions.
Should investors pay taxes at all? Vs. ‘ why are capital gains taxed differently from wages? ‘You will even tie these concepts together when they simply are not. Could u pick one?.

Capital gains aren’t tax-free. I ...[text shortened]... l that I pay taxes , to build those roads you’re talking about I do not get your posting these days.

This is just more nonsense. How does corporations paying taxes on their profits excuse taxation of individuals who sell their stock? That's ridiculous on its face.

Moreover, far from being "productive investment" A buying stock from B has been shown to be economically inferior to numerous other uses of funds AND not even Investment as defined by economists.

All of this is just Joe's servile rational for why the wealthy, who should rule over and dominant the rest of us because of their obvious superiority in his oft-stated views, shouldn't have to pay taxes like the rest of us and it is ungrateful to suggest they shouldn't be so accommodated for their wisdom and beneficence.
This is common right wing "thought"; the term "right wing" comes, after all, from where the monarchists sat in the French National Assembly. https://www.history.com/articles/how-did-the-political-labels-left-wing-and-right-wing-originate

@AverageJoe1 said
Redistributing income will sure be a hard sell. but have at it. I’ll put it this way… If I had that kind of money, I would change a whole lot about where my money goes and what I do with it when I am posted up on by the government of the United States. Smart wealthy people know how to avoid stuff. Take howard Schultz, of Starbucks, who is worth $80 billion is. Do you th ...[text shortened]... Marauder does not allow someone to have more rings than somebody else.
Hey, I just report the news

You already redistributed the money. Howard Schultz got his tax cut. Your president did that. We ate the meal and the money is spent. Who is paying for the $2 trillion bill? You think poor people can afford it.

With a wealth tax, Howard Schultz is paying Trump for a little bit of his wealth after Trump already gave him a huge tax cut that went way above what the rest of America got.

@no1marauder said
This is just more nonsense. How does corporations paying taxes on their profits excuse taxation of individuals who sell their stock? That's ridiculous on its face.

Moreover, far from being "productive investment" A buying stock from B has been shown to be economically inferior to numerous other uses of funds AND not even Investment as defined by economists.

All of t ...[text shortened]... y. https://www.history.com/articles/how-did-the-political-labels-left-wing-and-right-wing-originate

But get to the basic thing.....If you punish the successful they will run off and the development that I continue to stress would slow down. They create jobs. This is getting tiresome.

Yes, tax code should be revised. You and I can't do it, so call your (rich) congressman and see what they can do.

We could go on and on. Buffet is with9in hte law, he still lives in his same house, 60 years in Nebraska. Spends maybe $200k a year, dividends from stock, and pays tax on that. You want him to ay on unrealized gain! And on assets which, in a montyh later , may Drop in Value!!!!! Wd all agree that sucks, for anyone, but the thing is, there is no way thatr I can think of to rectify that anomaly. Snyway why do you care how much money someone has got? There is NOT one pie that they have half of in their assets.
Each, and you and me, we have our own separate pies. When you and I meet them at a sumposium in DC, I will of course ask them 'What about the fact that some people work harder than others!?!?!?!?!?? You will be standing there just cringing at this question, as usual.....but you will have no retort,,,,,,,because you never have here on the Forum.
Yeah I could hardly get into such a conversation with a tax committee without asking that question at the outset.
Been fun, but let us do another topic

@AverageJoe1 said
But get to the basic thing.....If you punish the successful they will run off and the development that I continue to stress would slow down. They create jobs. This is getting tiresome.

Yes, tax code should be revised. You and I can't do it, so call your (rich) congressman and see what they can do.

We could go on and on. Buffet is with9in hte law, he still lives ...[text shortened]... tax committee without asking that question at the outset.
Been fun, but let us do another topic

"Work harder"??? LMFAO!

For pages you've been defending preferential tax treatment for something that isn't "work" at all in contrast to actual work.

You really don't make any sense at all.

BILL: I just sold some stock for a $50,000 profit!

JANE: Damn, I worked all year as a teacher of 3rd grade students in an inner city school and only made $40,000.

BILL: Well, obviously I worked harder than you.