Best Posts in Thread: Biden Eyeing Tax Rate as High as 43.4%

  1. soflagator

    soflagator Senior Member
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    Just because you may be able to withstand the hit doesn’t make it right. If later that day someone stole $5000 from your wallet, you’d be fine as well with still north of half a million, but that wouldn’t make it any less theft. The government has no right to that money and it essentially disincentivizes success. Now, I’d like to think that said person would do some good(beyond employing and providing benefits for countless people who need a job and benefits) through charity or something along that line. But it should be his call and he should be able to direct his funds to something he feels warrants it, not have a bunch of career politicians funneling the fruits of his labors into their own coffers and/or financing a bunch of nonsense in the name of some cause that acts as little more than a guise to continue the theft.

    No thanks.
     
    • no1g8r

      no1g8r Bringing Reason to the Masses
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      Apparently you don't make $1m+ in income per year, otherwise, you'd be concerned.
       
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      • soflagator

        soflagator Senior Member
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        The last time someone went toe-to-toe with '78, there ended up being muscle shirt pics involved, an eventual banning, and now a from time to time resurfacing only to post gay porn gifs.

        Just be careful is all I'm saying.
         
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        • FireFoley

          FireFoley Senior Member
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          Amongst those 10 that is about 60 BIL. Isn't that like someone giving me about 7 cents and telling me to put that towards my credit card bills?
           
          • Concrete Helmet

            Concrete Helmet Hook, Line, and Sinker
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            Great post.
            I would add a couple more things to your thoughts though. One people that make over 400K generate income(and subsequently more tax revenue for the government)in the first place due to supporting local goods and services. Anyone know of someone in that income range that mows their own lawn, washes their own car, cleans their own home or pool? Hell most pay OTHER people to manage their assets(RE management, CPA'S and financial advisors to name a few). Their spending habits also generate more state sales tax revenue and many pay for private schools WHILE also paying property taxes for schools they never use...:banghead:

            And then to take 43% of their assets once sold that they paid for WITH AFTER TAX dollars is f vcking criminal.... :banghead::banghead::banghead:

            If the Government wants more money to fix sh!t that they f vcked up(mismanaged) in the first place they can do what John and Jane regular citizen do...Find a way to EARN more money or find a way to SAVE more money.
             
            • Detroitgator

              Detroitgator Well-Known Member
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              Oh, they floated an idea for that this year too! ;)
               
              • BMF

                BMF Bad Mother....
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                It's gonna take a lot more sucking up than that to get off my sh*t list!
                 
                • soflagator

                  soflagator Senior Member
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                  I don't disagree, but it's never going to happen. That's why you see the Goldman(and others) infiltration into the federal government, to help shape policy. The smart minds, which will always go into the private sector not public service, are going to make sure they keep the majority of their money, exercising loopholes and strategies that end up being extremely beneficial to them. The end result serves two purposes. They win(which they were going to all along anyway) and politicians can stand on their soap boxes decrying those loopholes, all while being paid off. Your way makes sense, but comes with a major flaw. It doesn't makes things "equitable" and the people who aren't successful but insist that they should enjoy the same lifestyle as the those who are, will continue to complain. And the politicians that have vowed to fix that disparity would have nothing to pitch any more. It's just easier this way.

                  And while I don't really share 78's ultra casual views on the matter, I do think he's correct in saying you have to just accept it and put in the extra work to cover yourself. No different than watching people file their taxes in 15 minutes and having a refund in the first week of Feb vs pouring over files for months, having multiple meetings with your accountant and waiting until the last possible second to write a check. On the surface it sucks and is obviously much more laborious, but it's certainly the better of the two alternatives.

                  Anyway, forget all this wasted energy and focus on getting BMF a mortgage.
                   
                  • Concrete Helmet

                    Concrete Helmet Hook, Line, and Sinker
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                    No sh!t Sherlock. What about the income that is taxed every year to make mortgage payments and the the increasing property taxes? Does inflation occur to you? Yes those items do give some small tax writeoff's but you don't end up making out enough to GIVE away 43% of your profits in the end. And God forbid you f vck yourself with positive cash throw off. WTF is the point in making profit on anything only to have to give damned near half of it back or play a perpetual shell game.
                    Do you ever wonder why entire areas turn into slums? It's the de incentivizing effects of over taxation set in place by irresponsible spending Left wing politicians. Just look at the areas where this occurs. Good Lord man don't you like keeping your money? The tax system in this country is f vcked as it is and just begs people to find loop holes. Charge a decent rate(5-10%) and get rid of all he loop holes.
                     
                    #54 Concrete Helmet, May 6, 2021
                    Last edited: May 6, 2021
                    • 78

                      78 Dazed and Confused
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                      I’ve come to the conclusion that there aren’t enough available zeroes to describe your net worth.
                       
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                      • 78

                        78 Dazed and Confused
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                        Saw that. Terrible idea.
                         
                        • bradgator2

                          bradgator2 Rioting
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                          :popcorn:
                           
                          • Concrete Helmet

                            Concrete Helmet Hook, Line, and Sinker
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                            So if you paid for assets(stocks/RE/whatever) with income that you earned AFTER paying 20% on it in the first place....then paid 43% on it years after paying tax every year(cap or income depending on asset)plus property taxes on RE you'd think that was just groovy....triple taxation in most cases....and in an environment of 8-10% inflation(not the CP LIE)???

                            This moron just needs to get it over with and come out with the Hammer and Sickle tattooed on his forehead. There's a reason tax receipts were the highest ever in 2018/2019....And I know Dems and liberals can't figure this out but lowering taxes ACTUALLY RAISE tax revenue.
                             
                            • FireFoley

                              FireFoley Senior Member
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                              I thought admitting a mistake and taking personal accountability was so rare in today's society that it would be more than enough. I will begin working on a way to get RE prices down 25+% in the Tampa area, just for you!
                               
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