Even More Obamacare Follies

#4,151
#4,151
Bush proposed only 5% of your SS contribtion to be invested in the stock market... Meaning 95% would go into the system as usual and the Dems said it was too risky... Joke
 
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#4,152
#4,152
Biopsyman said:
Bush proposed only 5% of your SS contribtion to be invested in the stock market... Meaning 95% would go into the system as usual and the Dems said it was too risky... Joke
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Could you imagine the jobs that would be created if all that stolen money were put back to work in the private sector?
 
#4,154
#4,154
Gramps said:
Let me ask you this 69.
A professional couple earns $500,000.00. An investor earns $500,000.00. Why should the professional couple have to pay more in taxes than the investor. Both Made the same amount of money.

I am for a flat tax with all income being taxed at the same rate with no deductions or loopholes. That is the only "fair way" to tax.
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Because the investor that makes $500k has 20 times that invested and is probably passing the couple.
 
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#4,155
#4,155
82_VOL_83 said:
Because the investor that makes $500k has 20 times that invested and is probably passing the couple.
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That is BS... Money earned is money earned be it digging a ditch, factory worker, doctor, attorney or by investing. There is zero reason why one should pay more or less of a % of their income in taxes. All monies earned should be taxed at the same rate.
 
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#4,156
#4,156
Gramps said:
That is BS... Money earned is money earned be it digging a ditch, factory worker, doctor, attorney or by investing. There is zero reason why one should pay more or less of a % of their income in taxes. All monies earned should be taxed at the same rate.
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Not so fast Cramps...if you want to tax capital gains like ordinary income, then (for fairness) I will want to use all capital losses to offset all ordinary income. Our government currently has a cake and eat too mentality. The government basically says if you have a capital gain, we will tax it, but if you have a capital loss, you will be limited to other cap gains or maybe not even to take it at all. Capital losses that are allowed, are limited to capital gains plus just a $3,000 loss allowed against ordinary income. Before this treatment and when the stock market crashed in '29, investors could deduct their capital losses against their ordinary income. As a result, people like J.P. Morgan paid no income tax for years at all.
 
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#4,157
#4,157
Ernest T. Vol said:
Not so fast Cramps...if you want to tax capital gains like ordinary income, then (for fairness) I will want to use all capital losses to offset all ordinary income. Our government currently has a cake and eat too mentality. The government basically says if you have a capital gain, we will tax it, but if you have a capital loss, you will be limited to other cap gains or maybe not even to take it at all. Capital losses that are allowed, are limited to capital gains plus just a $3,000 loss allowed against ordinary income. Before this treatment and when the stock market crashed in '29, investors could deduct their capital losses against their ordinary income. As a result, people like J.P. Morgan paid no income tax for years at all.
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This kind of garbage by the IRS is why I am for a flat tax with zero deduction. Set a rate, we all pay that rate on all monies we earn.
 
#4,158
#4,158
Ernest T. Vol said:
Not so fast Cramps...if you want to tax capital gains like ordinary income, then (for fairness) I will want to use all capital losses to offset all ordinary income. Our government currently has a cake and eat too mentality. The government basically says if you have a capital gain, we will tax it, but if you have a capital loss, you will be limited to other cap gains or maybe not even to take it at all. Capital losses that are allowed, are limited to capital gains plus just a $3,000 loss allowed against ordinary income. Before this treatment and when the stock market crashed in '29, investors could deduct their capital losses against their ordinary income. As a result, people like J.P. Morgan paid no income tax for years at all.
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This really bothers me that anyone would think like this. Several are against "punishing" those who EARN money through a sound investment. Even though it is money earned. Yet, you are ok with "rewarding" or possibly not taxing someone who made a bad investment? Seriously?
 
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#4,159
#4,159
Gramps said:
This kind of garbage by the IRS is why I am for a flat tax with zero deduction. Set a rate, we all pay that rate on all monies we earn.
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But there is a difference in the natures of ordinary type income/losses and capital gain income/losses. If both are taxed the same, then the difference is blurred, and logic following... all losses will be allowed against all income...a rabbit hole. Not only are you asking for the cake and eating it too, you are reaching for the pie as well (slaps Cramps hands).
 
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#4,160
#4,160
Ernest T. Vol said:
But there is a difference in the natures of ordinary type income/losses and capital gain income/losses. If both are taxed the same, then the difference is blurred, and logic following... all losses will be allowed against all income...a rabbit hole. Not only are you asking for the cake and eating it too, you are reaching for the pie as well (slaps Cramps hands).
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Ouch!!! That hurt Earnest T
 
#4,161
#4,161
Ernest T. Vol said:
The higher the rate, the more someone will avoid the transaction. The result is locked funds that could be used in new ventures, etc. The higher tax crowd never understands the government will increase the tax base and revenue if gains remain unlocked...something they should like but cant stand because of class envy.
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I disagree with the locked funds part. They'd probably result to municipal bonds or other tax free investments.
 
#4,162
#4,162
Vol8188 said:
I disagree with the locked funds part. They'd probably result to municipal bonds or other tax free investments.
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Buy your books and send you to school and this is what I get? Think of it like this: The capital gains tax is like a sales tax absorbed by the seller only, not like a retail sales tax collected from the customer and passed to government. Therefore, it is a penalty on executing the transaction. A transaction we need to efficiently allocate assets. The result is a distortion of markets and values. Remember, capital transactions are not at all compulsive. You don't have to sell if you don't want to. But this is just one "argument" for a lower cap gains rate.

The point I was making with Gramps is about the disparate treatment as it stands now. One of the reasons the cap gains rate is lower is because you cant deduct all capital losses. The government basically is saying: since you cant have all your losses, we will give you a break on your gains (a somewhat reasonable tradeoff).
 
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#4,163
#4,163
Great post, Ernest. Tagging onto the non compulsory component; some capital gains on certain investments can be deferred indefinitely. If the capital gains tax is hgher than the cost of administration of a deferment, the tax will be deferred 100% of the time if/when applicable.
 
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#4,165
#4,165
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#4,166
#4,166
SpaceCoastVol said:
It's all part of the plan. When Cankles vilifies the greedy insurance companies, it's single payer insurance all around, and 50% tax rates for those that have jobs.
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All the while the simplistic idiots known as the majority of the general public actuslly think Obamacare isn't that bad....... Idiots
 
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#4,170
#4,170
The GOP replacement platform may well center on health insurers being able to sell across state lines without complying with state regulations.

A theory universally condemned by everyone other than the biggest insurers.
 
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#4,171
#4,171
Velo Vol said:
Not everyone can be as smart as you, Carl Pickens.
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I know..... But there's more than a few that should turn off My Cat From Hell and read something every now and then. You've got to admit that you encounter a bunch of ignorant folks every day...... Just park outside Walmart for 10 minutes..... It's like taking a few steps backward on the evolutionary path
 
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#4,173
#4,173
Carl Pickens said:
I know..... But there's more than a few that should turn off My Cat From Hell and read something every now and then. You've got to admit that you encounter a bunch of ignorant folks every day...... Just park outside Walmart for 10 minutes..... It's like taking a few steps backward on the evolutionary path
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I like going to Wally world when I am feeling blue. I feel like Charles Atlas and Albert Einstein all rolled into one
 
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#4,174
#4,174
What's the Free Markets solution to drugs that cost $120,000+ per year?

Can We Get Cheaper Cancer Drugs? More Than 100 Experts Weigh In - NBC News

"In the United States, the average price of new cancer drugs increased 5- to 10-fold over 15 years, to more than $100,000 per year in 2012," Dr. Ayalew Tefferi of the Mayo Clinic, Dr. Hagop Kantarjian of the MD Anderson Cancer Center in Houston, Dr. Eric. Winer of the Dana Farber Cancer Institute and other top oncologists wrote.

"In 2014, all new U.S. Food and Drug Administration (FDA) approved cancer drugs were priced above $120,000 per year of use," they noted.
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