Sales tax only counts as paying taxes like a good citizen if you are here illegally. Do a better job of keeping up with the logic gymnastics.

Old McDonald said:

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schmellba99 said:

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Old McDonald said:

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good, tax the rich (if you're reading this, by definition this doesn't apply to you)

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Just for the sake of conversation - what do you define as "rich"?

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people who make millions a year but evade taxes through accounting loopholes. the net worth >$100mm crowd.

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Loopholes that take massive investments, and are available to everyone.

Tom Doniphon said:

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Old McDonald said:

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schmellba99 said:

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Old McDonald said:

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good, tax the rich (if you're reading this, by definition this doesn't apply to you)

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Just for the sake of conversation - what do you define as "rich"?

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people who make millions a year but evade taxes through accounting loopholes. the net worth >$100mm crowd.

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You think no one that posts here has that kinda wealth or income? And define these "loopholes" you speak of...

It's always folks that don't have **** worrying about the people that do.

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i have a hard time believing someone with $100mm would waste their time here

The inevitable fall out from this passing is the majority of rich people pulling wealth from American investments and moving the money overseas. Swiss Banks love the idea of a US wealth tax. Local taxpayers and businesses get screwed.

Definitely Not A Cop said:

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Sales tax only counts as paying taxes like a good citizen if you are here illegally. Do a better job of keeping up with the logic gymnastics.

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Ah so when he said "pay heir fair share of taxes" we need to inherently know which taxes? Do a better job of understanding generalized words.

AgBQ-00 said:

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Setting up confiscation of 401Ks etc?

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yup

Yes. You should inherently know what set of logic liberals are using by who they are trying to exploit. It doesn't matter if it makes sense, because common sense is conservative privilege, or something.

The irony is that if they wanted to get rid of the "loopholes" (like the standard deduction, for example), the way is relatively simple. Just pass a flat tax.

They don't actually want to get rid of loopholes though. Just the ones that don't benefit them, because they aren't educated enough financially to exploit them.

Still waiting for our Lefty to answer the question of what specific laws do they think the wealthy are breaking and how they would tax 90% of wealth that isn't income

They talk a big game but then disappear when it's time to answer specifics

Some Economic IQs equivalent to a cricket's on full display here.

Old McDonald said:

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schmellba99 said:

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Old McDonald said:

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good, tax the rich (if you're reading this, by definition this doesn't apply to you)

---

Just for the sake of conversation - what do you define as "rich"?

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people who make millions a year but evade taxes through accounting loopholes. the net worth >$100mm crowd.

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Why are you entitled to their money?

Tom Doniphon said:

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What "loopholes'?

Moving money around? You have to be "rich" to do that?

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borrowing against unrealized gains is the main way the ultra wealthy avoid income and capital gains taxes

Maroon Dawn said:

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Still waiting for our Lefty to answer the question of what specific laws do they think the wealthy are breaking and how they would tax 90% of wealth that isn't income

They talk a big game but then disappear when it's time to answer specifics

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no need to break the law when you can just buy a politician to change them in your favor

So their ability to borrow is your big "gotcha "?

How is borrowing money income?

But let's play out your logic. If I borrow $300k for a house, My income should be taxed at $300k plus my salary? In addition to the property taxes?

outofstateaggie said:

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Old McDonald said:

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schmellba99 said:

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Old McDonald said:

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good, tax the rich (if you're reading this, by definition this doesn't apply to you)

---

Just for the sake of conversation - what do you define as "rich"?

---

people who make millions a year but evade taxes through accounting loopholes. the net worth >$100mm crowd.

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Why are you entitled to their money?

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who said i was?

You should stop while you're ahead.... you don't have a clue about what you're spewing.

Old McDonald said:

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Tom Doniphon said:

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What "loopholes'?

Moving money around? You have to be "rich" to do that?

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borrowing against unrealized gains is the main way the ultra wealthy avoid income and capital gains taxes

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WAIT! So, THE MAN is now going to tell me I can't go and get a home equity loan!?!?!

BRILLIANT!

Old McDonald said:

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schmellba99 said:

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Old McDonald said:

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schmellba99 said:

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Old McDonald said:

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good, tax the rich (if you're reading this, by definition this doesn't apply to you)

---

Just for the sake of conversation - what do you define as "rich"?

---

people who make millions a year but evade taxes through accounting loopholes. the net worth >$100mm crowd.

---

Gotcha

So you mean the group of people that pay a higher percentage of income in taxes than any other income group then.

The lack of brain cells is truly, truly amazing.

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no need for snark.

at this level of wealth, these individuals and their highly paid accountants move money around in such a way that they evade paying income tax, in many cases altogether. but even if we're talking income tax, as recently as 1986 top marginal rate was 50%. as recently as 1981 it was 70%. before 1963 it was 90%. i would support raising the top rate and closing loopholes that only the very wealthy can afford to exploit.

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The only thing you are correct on is the marginal rates, because you can't just make those up like you did everything else.

Fact - The top 10% of wage earners paid a significantly higher rate than any other income bracket. They do every single year. Just because somebody somewhere on the internets said that all of these rich people pay legions of accountants to "move money around" doesn't make it true.

You should try looking things up before opening your mouth and proving to the world what we already know about your intelligence.

Also - there are no such things as "loopholes". Quit using a term that is garbage.

BTW - 1963, Kennedy cut the tax rates to increase economic growth because the recession of the late 50's was still lingering; 1981, Reagan cut the tax rates to increase economic growth because the recession created by th energy crisis was killing the US economy; 1986 Reagan again cut the tax rates to promote economic growth. Huh. Interesting.

schmellba99 said:

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Old McDonald said:

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good, tax the rich (if you're reading this, by definition this doesn't apply to you)

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Just for the sake of conversation - what do you define as "rich"?

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"Anyone that makes a dollar more than me" - Old McDonald

Old McDonald said:

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schmellba99 said:

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Old McDonald said:

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schmellba99 said:

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Old McDonald said:

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good, tax the rich (if you're reading this, by definition this doesn't apply to you)

---

Just for the sake of conversation - what do you define as "rich"?

---

people who make millions a year but evade taxes through accounting loopholes. the net worth >$100mm crowd.

---

Gotcha

So you mean the group of people that pay a higher percentage of income in taxes than any other income group then.

The lack of brain cells is truly, truly amazing.

---

no need for snark.

at this level of wealth, these individuals and their highly paid accountants move money around in such a way that they evade paying income tax, in many cases altogether. but even if we're talking income tax, as recently as 1986 top marginal rate was 50%. as recently as 1981 it was 70%. before 1963 it was 90%. i would support raising the top rate and closing loopholes that only the very wealthy can afford to exploit.

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Prove it.

Definitely Not A Cop said:

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How is borrowing money income?

But let's play out your logic. If I borrow $300k for a house, My income should be taxed at $300k plus my salary? In addition to the property taxes?

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good example actually. on a mortgage, your house is the collateral and you pay property taxes on it. in the billionaire's case, the collateral is unrealized gains from equities and no taxes are paid.

So the final result will be to tax all American Citizens into poverty.

Great party you got there Dems/Libs. You claim that you care about the little guy while slowly taking everything anyone ever owns.

Sadly almost half the people in this country would fully support this happening.

Definitely Not A Cop said:

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The inevitable fall out from this passing is the majority of rich people pulling wealth from American investments and moving the money overseas. Swiss Banks love the idea of a US wealth tax. Local taxpayers and businesses get screwed.

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Yep.

Imagine the stock market decline if unrealized gains were somehow taxed. I'd pull every penny I have in all of my retirement accounts and park them in some Swiss or Caribbean bank somehwere that gave me the absolute best tax and growth advantage possible. So would millions of other people.

You think The 1929 crash was bad? It would be a drop in the bucket compared to what would happen.

Old McDonald said:

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Definitely Not A Cop said:

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How is borrowing money income?

But let's play out your logic. If I borrow $300k for a house, My income should be taxed at $300k plus my salary? In addition to the property taxes?

---

good example actually. on a mortgage, your house is the collateral and you pay property taxes on it. in the billionaire's case, the collateral is unrealized gains from equities and no taxes are paid.

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The billionaire's collateral is the investments made into business etc. What happens when billionaires lose their borrowing power?

Hint: Less and lower paying jobs for YOU.

Old McDonald said:

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Definitely Not A Cop said:

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How is borrowing money income?

But let's play out your logic. If I borrow $300k for a house, My income should be taxed at $300k plus my salary? In addition to the property taxes?

---

good example actually. on a mortgage, your house is the collateral and you pay property taxes on it. in the billionaire's case, the collateral is unrealized gains from equities and no taxes are paid.

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You said income and capital gains taxes. Borrowing money is not income or realizing capital gains. Nor an example of something only billionaires exploit.

Tom Doniphon said:

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You should stop while you're ahead.... you don't have a clue about what you're spewing.

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You do realize who you are talking to, correct? This has literally never applied to them.

Satellite of Love said:

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Old McDonald said:

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schmellba99 said:

---

Old McDonald said:

---

schmellba99 said:

---

Old McDonald said:

---

good, tax the rich (if you're reading this, by definition this doesn't apply to you)

---

Just for the sake of conversation - what do you define as "rich"?

---

people who make millions a year but evade taxes through accounting loopholes. the net worth >$100mm crowd.

---

Gotcha

So you mean the group of people that pay a higher percentage of income in taxes than any other income group then.

The lack of brain cells is truly, truly amazing.

---

no need for snark.

at this level of wealth, these individuals and their highly paid accountants move money around in such a way that they evade paying income tax, in many cases altogether. but even if we're talking income tax, as recently as 1986 top marginal rate was 50%. as recently as 1981 it was 70%. before 1963 it was 90%. i would support raising the top rate and closing loopholes that only the very wealthy can afford to exploit.

---

Prove it.

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PSSSTTTTT!......he can't

schmellba99 said:

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Old McDonald said:

---

schmellba99 said:

---

Old McDonald said:

---

schmellba99 said:

---

Old McDonald said:

---

good, tax the rich (if you're reading this, by definition this doesn't apply to you)

---

Just for the sake of conversation - what do you define as "rich"?

---

people who make millions a year but evade taxes through accounting loopholes. the net worth >$100mm crowd.

---

Gotcha

So you mean the group of people that pay a higher percentage of income in taxes than any other income group then.

The lack of brain cells is truly, truly amazing.

---

no need for snark.

at this level of wealth, these individuals and their highly paid accountants move money around in such a way that they evade paying income tax, in many cases altogether. but even if we're talking income tax, as recently as 1986 top marginal rate was 50%. as recently as 1981 it was 70%. before 1963 it was 90%. i would support raising the top rate and closing loopholes that only the very wealthy can afford to exploit.

---

The only thing you are correct on is the marginal rates, because you can't just make those up like you did everything else.

Fact - The top 10% of wage earners paid a significantly higher rate than any other income bracket. They do every single year. Just because somebody somewhere on the internets said that all of these rich people pay legions of accountants to "move money around" doesn't make it true.

You should try looking things up before opening your mouth and proving to the world what we already know about your intelligence.

Also - there are no such things as "loopholes". Quit using a term that is garbage.

BTW - 1963, Kennedy cut the tax rates to increase economic growth because the recession of the late 50's was still lingering; 1981, Reagan cut the tax rates to increase economic growth because the recession created by th energy crisis was killing the US economy; 1986 Reagan again cut the tax rates to promote economic growth. Huh. Interesting.

---

instead all we got was a grand canyon of wealth inequality, and an oligarch class with an army of temporarily embarrassed millionaire foot soldiers still patiently waiting with hands extended for that wealth to trickle on down.

The top 1 percent paid a greater share of individual income taxes (38.5 percent) than the bottom 90 percent combined (29.9 percent).

If you do not think that the top 1% will be targeted for ever increasing taxes, you are insane. The ultra wealthy will just move, leaving us as the target.

So you wanna tax unrealized gains?

Can I then deduct unrealized losses, professor?

schmellba99 said:

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aggieforester05 said:

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The rich are taxed more than anyone.

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He isn't smart enough to know that or take a few seconds to do some research to figure it out.

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But it doesn't stop him from constantly **** posting all day on f16.

I guess there is no financial literacy on the farm.

You mean that growth turned into one of the strongest economic decades of the late 80's and through the 90's?

That would be true.

You are batting 0.000 right now. At least you are consistent.