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I can understand why they want to tax capital gains as regular income but theyre fixing the problem with an axe rather than a scalpel. It is also unAmerican to have trust fund babies who earn nothing but passive income, get taxed at a far lower rate than successful people who work for their money. There has to be some in between, no?

Stapes wrote: ↑Thu Apr 29, 2021 7:32 pm

Animal wrote: ↑Thu Apr 29, 2021 7:29 pm

Stapes wrote: ↑Thu Apr 29, 2021 7:28 pm Just posting what's on my feed..... I take no responsibility

you do not pay capital gains tax on 401(k) or IRA money when you take it out. No matter how long it has been in there. now apologize to the board for your lying ass meme.

But the meme doesn't say that...... it says that Republicans and others are saying that it does....... The meme is saying what you're saying that capital gains are not taken out of 401k

there is no special exemption from the rule to exclude 401(k) investments. They were never part of the conversation. The meme is a lie.

Animal wrote: ↑Thu Apr 29, 2021 7:46 pm

Stapes wrote: ↑Thu Apr 29, 2021 7:32 pm

Animal wrote: ↑Thu Apr 29, 2021 7:29 pm

Stapes wrote: ↑Thu Apr 29, 2021 7:28 pm Just posting what's on my feed..... I take no responsibility

you do not pay capital gains tax on 401(k) or IRA money when you take it out. No matter how long it has been in there. now apologize to the board for your lying ass meme.

But the meme doesn't say that...... it says that Republicans and others are saying that it does....... The meme is saying what you're saying that capital gains are not taken out of 401k

there is no special exemption from the rule to exclude 401(k) investments. They were never part of the conversation. The meme is a lie.

The meme is not a lie. You have shitty texas reading comprehension skills. You are semi-literate

Biker wrote: ↑Thu Apr 29, 2021 7:45 pm I can understand why they want to tax capital gains as regular income but theyre fixing the problem with an axe rather than a scalpel. It is also unAmerican to have trust fund babies who earn nothing but passive income, get taxed at a far lower rate than successful people who work for their money. There has to be some in between, no?

how about just grandfather in the investments already in the books at the old rate and then open up a new set of books for the stupids that want to invest in stuff now knowing they are going to get raped in the end? compromise.

Animal wrote: ↑Thu Apr 29, 2021 7:48 pm

Biker wrote: ↑Thu Apr 29, 2021 7:45 pm I can understand why they want to tax capital gains as regular income but theyre fixing the problem with an axe rather than a scalpel. It is also unAmerican to have trust fund babies who earn nothing but passive income, get taxed at a far lower rate than successful people who work for their money. There has to be some in between, no?

how about just grandfather in the investments already in the books at the old rate and then open up a new set of books for the stupids that want to invest in stuff now knowing they are going to get raped in the end? compromise.

Or better yet, if you make 80%+ of your income off passive assets, why not tax them at regular income levels and leave everyone else the fuck alone?

Biker wrote: ↑Thu Apr 29, 2021 7:50 pm

Animal wrote: ↑Thu Apr 29, 2021 7:48 pm

Biker wrote: ↑Thu Apr 29, 2021 7:45 pm I can understand why they want to tax capital gains as regular income but theyre fixing the problem with an axe rather than a scalpel. It is also unAmerican to have trust fund babies who earn nothing but passive income, get taxed at a far lower rate than successful people who work for their money. There has to be some in between, no?

how about just grandfather in the investments already in the books at the old rate and then open up a new set of books for the stupids that want to invest in stuff now knowing they are going to get raped in the end? compromise.

Or better yet, if you make 80%+ of your income off passive assets, why not tax them at regular income levels and leave everyone else the fuck alone?

Biker wrote: ↑Thu Apr 29, 2021 7:50 pm

Animal wrote: ↑Thu Apr 29, 2021 7:48 pm

Biker wrote: ↑Thu Apr 29, 2021 7:45 pm I can understand why they want to tax capital gains as regular income but theyre fixing the problem with an axe rather than a scalpel. It is also unAmerican to have trust fund babies who earn nothing but passive income, get taxed at a far lower rate than successful people who work for their money. There has to be some in between, no?

how about just grandfather in the investments already in the books at the old rate and then open up a new set of books for the stupids that want to invest in stuff now knowing they are going to get raped in the end? compromise.

Or better yet, if you make 80%+ of your income off passive assets, why not tax them at regular income levels and leave everyone else the fuck alone?

i am not sure if i understand. typically when you sell a capital gain asset its a HUGE lump sum amount of money all at one time. Its not like you sell 10% of it a year. Say you owned an apartment complex as a investment. And at some point it was just too much for you to manage and you sell it. You make $10 million profit on the sale. That is generally going to be way more than any other income you have.

Animal wrote: ↑Thu Apr 29, 2021 8:02 pm

Biker wrote: ↑Thu Apr 29, 2021 7:50 pm

Animal wrote: ↑Thu Apr 29, 2021 7:48 pm

Biker wrote: ↑Thu Apr 29, 2021 7:45 pm I can understand why they want to tax capital gains as regular income but theyre fixing the problem with an axe rather than a scalpel. It is also unAmerican to have trust fund babies who earn nothing but passive income, get taxed at a far lower rate than successful people who work for their money. There has to be some in between, no?

how about just grandfather in the investments already in the books at the old rate and then open up a new set of books for the stupids that want to invest in stuff now knowing they are going to get raped in the end? compromise.

Or better yet, if you make 80%+ of your income off passive assets, why not tax them at regular income levels and leave everyone else the fuck alone?

i am not sure if i understand. typically when you sell a capital gain asset its a HUGE lump sum amount of money all at one time. Its not like you sell 10% of it a year. Say you owned an apartment complex as a investment. And at some point it was just too much for you to manage and you sell it. You make $10 million profit on the sale. That is generally going to be way more than any other income you have.

Sure, we can go all day with what ifs, but what Biden and other Dems want to target are the millionaire and billionaire class who buy equities, hold for over a year, and then sell, only to have the profits taxed at CG rates. There will have to be some carve outs I imagine, but the way Biden wants to move forward with it is fucked up

Biker wrote: ↑Thu Apr 29, 2021 8:08 pm

Animal wrote: ↑Thu Apr 29, 2021 8:02 pm

Biker wrote: ↑Thu Apr 29, 2021 7:50 pm

Animal wrote: ↑Thu Apr 29, 2021 7:48 pm

Biker wrote: ↑Thu Apr 29, 2021 7:45 pm I can understand why they want to tax capital gains as regular income but theyre fixing the problem with an axe rather than a scalpel. It is also unAmerican to have trust fund babies who earn nothing but passive income, get taxed at a far lower rate than successful people who work for their money. There has to be some in between, no?

how about just grandfather in the investments already in the books at the old rate and then open up a new set of books for the stupids that want to invest in stuff now knowing they are going to get raped in the end? compromise.

Or better yet, if you make 80%+ of your income off passive assets, why not tax them at regular income levels and leave everyone else the fuck alone?

i am not sure if i understand. typically when you sell a capital gain asset its a HUGE lump sum amount of money all at one time. Its not like you sell 10% of it a year. Say you owned an apartment complex as a investment. And at some point it was just too much for you to manage and you sell it. You make $10 million profit on the sale. That is generally going to be way more than any other income you have.

Sure, we can go all day with what ifs, but what Biden and other Dems want to target are the millionaire and billionaire class who buy equities, hold for over a year, and then sell, only to have the profits taxed at CG rates. There will have to be some carve outs I imagine, but the way Biden wants to move forward with it is fucked up

ah. Yeah, i never really thought of it from the perspective of a billionaire doing it to avoid his tax rate.

I think more in terms of people that buy stocks when they are 25 years old and never sell them. and then 40 years later, after no taxes during the entire 40 years, they get his with one single tax payment at the end. Now there are a lot of people in that category. Or say you buy a rent house and hold it for 20 years and then sell it for 4 times what you paid. its a huge amount of money. or say someone dies and leaves you a bunch of land and you hold it for 30 years and it quadruples (or more) in value and you sell it.

its one thing to use the CG as a loophole to hold for over 1 year and lower your tax. Its another to be an actual investor in a long term thing that needs it.

Why doesn't Flumpy demand Biker apologize to the board when Biker posts bullshit memes????

Biker wrote: ↑Fri Apr 30, 2021 4:16 pm

Gallon of milk is over 3.00 at H.E.B in Texas.... What's your point


2.89 regular gal milk at krogers in ky.

Stapes wrote: ↑Fri Apr 30, 2021 4:31 pm

Biker wrote: ↑Fri Apr 30, 2021 4:16 pm

Gallon of milk is over 3.00 at H.E.B in Texas.... What's your point


2.89 regular gal milk at krogers in ky.

Prices are tied to local labor markets, no?

Stapes wrote: ↑Fri Apr 30, 2021 4:31 pm

Biker wrote: ↑Fri Apr 30, 2021 4:16 pm

Gallon of milk is over 3.00 at H.E.B in Texas.... What's your point


2.89 regular gal milk at krogers in ky.

we aren't talking about lactose free chocolate milk. use someone else's search criteria.

Biker wrote: ↑Fri Apr 30, 2021 4:16 pm

Thats what happened up here. Min wage went to $14 and everything followed suit.

Evil.Fkn.Mean,Nasty wrote: ↑Fri Apr 30, 2021 4:48 pm

Biker wrote: ↑Fri Apr 30, 2021 4:16 pm

Thats what happened up here. Min wage went to $14 and everything followed suit.

Maybe if we just raised it to $25 an hour then the prices will not go up that high

Sin

'Progressive" logic

Evil.Fkn.Mean,Nasty wrote: ↑Fri Apr 30, 2021 4:48 pm

Biker wrote: ↑Fri Apr 30, 2021 4:16 pm

Thats what happened up here. Min wage went to $14 and everything followed suit.

Wait a second here...so the cost of doing business went up and then everything got more expensive? This is mind blowing. Do people know about this?

2.69 is the average for a Californian gallon of milk. It's 3.78 in Alaska, which has a minimum wage of 7.25.

CHEEZY17 wrote: ↑Fri Apr 30, 2021 5:08 pm

Evil.Fkn.Mean,Nasty wrote: ↑Fri Apr 30, 2021 4:48 pm

Biker wrote: ↑Fri Apr 30, 2021 4:16 pm

Thats what happened up here. Min wage went to $14 and everything followed suit.

Wait a second here...so the cost of doing business went up and then everything got more expensive? This is mind blowing. Do people know about this?

Stapes doesn't.