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Topic:
News that Mitt has an ultra low tax rate
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Date Posted:
1/1/00 12:00am
Subject:
News that Mitt has an ultra low tax rate
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So create a progressive capital gains tax.
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Taliesihne
Title: Wind on the Deep Waters
Posts: 1,117
Registered: 2004-2-19 04:47:59
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Date Posted:
1/1/00 12:00am
Subject:
News that Mitt has an ultra low tax rate
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So exempt senior citizens. Problem solved.
An investment banker my age should be paying the same taxes I am.
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First comes smiles, then lies. Last is gunfire. -Roland Deschain, of Gilead
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Szerek
Posts: 338
Registered: 2000-8-8 09:26:09
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Date Posted:
1/1/00 12:00am
Subject:
News that Mitt has an ultra low tax rate
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Koneg posted:
Taliesihne posted:
Money that was invested only after paying income taxes on it?
You do realize that you don't pay taxes on the money you've invested but your gains on that money invested, which is money you've never paid taxes on.
To make is simple for you, you buy 1000 shares of XYZ stock in 2004 for $1 per share. In 2010 you sold all of your XYZ stock for $3 per share. That gives you a capital gain of $2000 which you have never paid taxes on.
A progressive capital gains tax is needed. And not the 0 or 15% tax we have now.
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"The reason they call it the American Dream is because you have to be asleep to believe it."
"The IQ and the life expectancy of the average American recently passed each other in opposite directions."
- George Carlin
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Date Posted:
1/1/00 12:00am
Subject:
News that Mitt has an ultra low tax rate
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Sansfear posted:
1) The money that is being invested has already been taxed at the earned rate.
what an irrelevant point. that money isn't being taxed again. additional profits on that money are now being taxed. low capitol gains tax is little more than a blowjob for the rich. yes, regular people benefit from it too at times. but at not nearly the same rate.
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You Are
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We Todd Ed
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Grymlo
Posts: 415
Registered: 2002-4-30 05:51:06
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Date Posted:
1/1/00 12:00am
Subject:
News that Mitt has an ultra low tax rate
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Allstarslacker posted:
So create a progressive capital gains tax.
Dont know why this isnt the case except that we are talking about Washington doing something smert.
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A Nation of Sheep Breeds a Government of Wolves!
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Koneg
Title: Evil Genius
Posts: 894
Registered: 2001-12-4 15:31:28
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Date Posted:
1/1/00 12:00am
Subject:
News that Mitt has an ultra low tax rate
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Szerek posted:
Koneg posted:
Money that was invested only after paying income taxes on it?
You do realize that you don't pay taxes on the money you've invested but your gains on that money invested, which is money you've never paid taxes on.
/facepalm
Duh?
Szerek posted:
To make is simple for you, you buy 1000 shares of XYZ stock in 2004 for $1 per share.
I'll make it simpler for you. The $10,000 you just spent?
You paid income taxes on that $10k when you earned it, right? That was money you invested only after paying income taxes on it.
Reading Comprehension: Don't leave home without it.
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* First rule of a gun fight: Have a gun.
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"Any sufficiently advanced idiocy is
indistinguishable from trolling." -- Arthur C Clarke
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Scarne
Title: Capo di Scientifico
Posts: 1,087
Registered: 2001-7-23 15:24:34
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Date Posted:
1/1/00 12:00am
Subject:
News that Mitt has an ultra low tax rate
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Sansfear posted:
2) Raising the capital gains rate would significantly reduce the amount of capital available for investment.
There is too much capital available currently. An overabundance of capital helps in creating things like housing bubbles. 
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E Pluribus Unum
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Date Posted:
1/1/00 12:00am
Subject:
News that Mitt has an ultra low tax rate
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Koneg posted:
Szerek posted:
Koneg posted:
Money that was invested only after paying income taxes on it?
You do realize that you don't pay taxes on the money you've invested but your gains on that money invested, which is money you've never paid taxes on.
/facepalm
Duh?
Szerek posted:
To make is simple for you, you buy 1000 shares of XYZ stock in 2004 for $1 per share.
I'll make it simpler for you. The $10,000 you just spent?
You paid income taxes on that $10k when you earned it, right? That was money you invested only after paying income taxes on it.
Reading Comprehension: Don't leave home without it.
wtf does that have to do with anything?
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You Are
Sofa King
We Todd Ed
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IMHO
Title: Official Outpost Greeter
Posts: 2,287
Registered: 2001-11-1 03:55:02
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Date Posted:
1/1/00 12:00am
Subject:
News that Mitt has an ultra low tax rate
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Sansfear posted:
Mitt has the same tax rate as everyone else does on their elite status.
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You're Right ~ Koneg
He's [Manegarm] like the Fred Phelps of atheism. ~Bubbledude
many of you are in the Republican boat, aka the ship of fools. ~Modeeb
We are here on Earth to fart around. Don't let anybody tell you any different. ~Kurt Vonnegut
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reesescups
Title: //Captain America
Posts: 2,537
Registered: 2003-5-26 14:45:53
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Date Posted:
1/1/00 12:00am
Subject:
News that Mitt has an ultra low tax rate
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Koneg posted:
Szerek posted:
Koneg posted:
Money that was invested only after paying income taxes on it?
You do realize that you don't pay taxes on the money you've invested but your gains on that money invested, which is money you've never paid taxes on.
/facepalm
Duh?
Szerek posted:
To make is simple for you, you buy 1000 shares of XYZ stock in 2004 for $1 per share.
I'll make it simpler for you. The $10,000 you just spent?
You paid income taxes on that $10k when you earned it, right? That was money you invested only after paying income taxes on it.
Reading Comprehension: Don't leave home without it.
A) WTF did you come up with $10k - forget about reading comprehension for a moment, do you understand basic math? I think you fail at both reading and math.
B) You took money you earned and already paid taxes on and invested it in XYZ - that investment turned a profit - profits get taxed. You aren't paying taxes on the same money twice. If you already had the profits you made from your investment, it wouldn't be a profit...
U R kind of dumb, obviously.
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"man up, you wimp." - Groucho48
"I'm not racist at all." - dae_trist
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