(04-10-2019, 01:29 PM)flsprtsgod Wrote: [ -> ] (04-10-2019, 12:36 PM)mikesez Wrote: [ -> ]So a dividend from a stock or a bonus from an employer - are those income in your book?
Of course they are, you already knew that. You just want to be the "money made from investments isn't really work" guy is all.
You assume too much.
I'm not the one who says there is earned and unearned income. The US code has said as much since at least 1975. If you want to redefine "earned income," take that up with the government, not me.
Leave that aside.
If dividends and capital gains are essentially "earned" just like wages, should they all be treated the same for the purposes of income tax?
(04-10-2019, 01:34 PM)mikesez Wrote: [ -> ] (04-10-2019, 01:29 PM)flsprtsgod Wrote: [ -> ]Of course they are, you already knew that. You just want to be the "money made from investments isn't really work" guy is all.
You assume to much.
I'm not the one who says there is earned and unearned income. The US code has said as much since at least 1975. If you want to redefine "earned income" take that up with the government, not me.
Leave that aside.
If dividends and capital gains are essentially "earned" just like wages, should they all be treated the same for the purposes of income tax?
Frankly I don't give a [BLEEP]. I'm opposed to income taxes of all types.
(04-08-2019, 10:37 PM)mikesez Wrote: [ -> ]But not all income is earned.
(04-10-2019, 01:34 PM)mikesez Wrote: [ -> ]I'm not the one who says there is earned and unearned income.
(04-10-2019, 01:35 PM)flsprtsgod Wrote: [ -> ] (04-10-2019, 01:34 PM)mikesez Wrote: [ -> ]You assume to much.
I'm not the one who says there is earned and unearned income. The US code has said as much since at least 1975. If you want to redefine "earned income" take that up with the government, not me.
Leave that aside.
If dividends and capital gains are essentially "earned" just like wages, should they all be treated the same for the purposes of income tax?
Frankly I don't give a [BLEEP]. I'm opposed to income taxes of all types.
And how do you propose the government come up with funding to do anything? If you get rid of income tax, they will just raise sales taxes to the point where an apple would cost $25.
(04-10-2019, 01:47 PM)TheO-LineMatters Wrote: [ -> ] (04-10-2019, 01:35 PM)flsprtsgod Wrote: [ -> ]Frankly I don't give a [BLEEP]. I'm opposed to income taxes of all types.
And how do you propose the government come up with funding to do anything? If you get rid of income tax, they will just raise sales taxes to the point where an apple would cost $25.
In reality, taxation only increases the size of government. Never really based on pure sustainment. Yet, services never really improve.
Florida seems to be doing okay!
https://www.foxnews.com/opinion/cal-thom...hy-is-that
Florida Personal Income Tax = 0%
Florida Corporate Income Tax = 5.5% before exemptions
Sales Tax = 6%
Apples = $1.38lb/0.44 cents each
(04-10-2019, 01:34 PM)mikesez Wrote: [ -> ] (04-10-2019, 01:29 PM)flsprtsgod Wrote: [ -> ]Of course they are, you already knew that. You just want to be the "money made from investments isn't really work" guy is all.
You assume too much.
I'm not the one who says there is earned and unearned income. The US code has said as much since at least 1975. If you want to redefine "earned income," take that up with the government, not me.
Leave that aside.
If dividends and capital gains are essentially "earned" just like wages, should they all be treated the same for the purposes of income tax?
Nope. Earned != Wages
If I invest x amount of dollars in a stock or ETF and it pays me dividends that is money that I
earned by putting my money into it. If I buy a stock or an ETF at say $100 per share and sell it when it reaches $150 per share the difference is money I
earned while I held the stock. If I make $10 per hour at a job that is my
wage. If I work 10 hours the $100 that I get in return is money that I
earned from my
wages.
See how that works?
(04-10-2019, 01:47 PM)TheO-LineMatters Wrote: [ -> ] (04-10-2019, 01:35 PM)flsprtsgod Wrote: [ -> ]Frankly I don't give a [BLEEP]. I'm opposed to income taxes of all types.
And how do you propose the government come up with funding to do anything? If you get rid of income tax, they will just raise sales taxes to the point where an apple would cost $25.
No, you're wrong. Google Fair Tax for more information.
(04-10-2019, 05:07 PM)TheO-LineMatters Wrote: [ -> ] (04-10-2019, 03:45 PM)flsprtsgod Wrote: [ -> ]No, you're wrong. Google Fair Tax for more information.
We just need a flat tax
If that flat tax is directly tied to consumption of material goods, I'm all for it.
(04-10-2019, 05:07 PM)TheO-LineMatters Wrote: [ -> ] (04-10-2019, 03:45 PM)flsprtsgod Wrote: [ -> ]No, you're wrong. Google Fair Tax for more information.
We just need a flat tax
So why did you post that nonsense then?
(04-10-2019, 05:07 PM)TheO-LineMatters Wrote: [ -> ] (04-10-2019, 03:45 PM)flsprtsgod Wrote: [ -> ]No, you're wrong. Google Fair Tax for more information.
We just need a flat tax
What's so great about a flat tax? Rich people pay less and poor people pay more is all I could see a flat tax accomplishing.
A consumption tax is much better. It's simple and it's fair.
(04-10-2019, 03:23 PM)jagibelieve Wrote: [ -> ] (04-10-2019, 01:34 PM)mikesez Wrote: [ -> ]You assume too much.
I'm not the one who says there is earned and unearned income. The US code has said as much since at least 1975. If you want to redefine "earned income," take that up with the government, not me.
Leave that aside.
If dividends and capital gains are essentially "earned" just like wages, should they all be treated the same for the purposes of income tax?
Nope. Earned != Wages
If I invest x amount of dollars in a stock or ETF and it pays me dividends that is money that I earned by putting my money into it. If I buy a stock or an ETF at say $100 per share and sell it when it reaches $150 per share the difference is money I earned while I held the stock. If I make $10 per hour at a job that is my wage. If I work 10 hours the $100 that I get in return is money that I earned from my wages.
See how that works?
Okay that's not exactly how the government uses the term "earned" in the tax code.
But let's leave that aside.
Since all of these are essentially "earnings" they should all be taxed at the same rate right?
(04-10-2019, 06:55 PM)flsprtsgod Wrote: [ -> ] (04-10-2019, 06:53 PM)mikesez Wrote: [ -> ]Okay that's not exactly how the government uses the term "earned" in the tax code.
But let's leave that aside.
Since all of these are essentially "earnings" they should all be taxed at the same rate right?
Yes, the rate is 0%.
The question wasn't for you. I already know your answer, unicorn.
(04-10-2019, 07:42 PM)mikesez Wrote: [ -> ] (04-10-2019, 06:55 PM)flsprtsgod Wrote: [ -> ]Yes, the rate is 0%.
The question wasn't for you. I already know your answer, unicorn.
I'm pretty sure he won't disagree much.
(04-10-2019, 01:47 PM)TheO-LineMatters Wrote: [ -> ]And how do you propose the government come up with funding to do anything? If you get rid of income tax, they will just raise sales taxes to the point where an apple would cost $25.
100% WRONG
Read the Grace Commission report.
Not a single dime of Income Tax is used to run the government.
So it appears that all of the Dems are running using the "Oprah" platform of everyone gets...
We all know they are pandering to a certain base but they can't be ignorant enough to believe that it will get them elected, right? At this point in the game just go ahead and ink in President Trump for another 4 years.
Poor Beto, looks like his campaign has torpedoed. Maybe if he identifies as a gay white man he may pick up some traction.
(04-18-2019, 07:42 AM)B2hibry Wrote: [ -> ]So it appears that all of the Dems are running using the "Oprah" platform of everyone gets...
We all know they are pandering to a certain base but they can't be ignorant enough to believe that it will get them elected, right? At this point in the game just go ahead and ink in President Trump for another 4 years.
The game of chess Trump is playing anointing Bernie and Biden as the "ones to beat" is pretty genius. This party is literally going to tear itself apart over the next year.
.gif "Laughing")