Eye Opening Article on Taxes

#26
#26
sadly, that still would not cover all the spending they say this country "needs"
 
#29
#29
lawgator1 said:
The Bush tax cuts should be repealed for those making over $250,000 a year and capital gains tax rate should be raised to match equivalent personal income tax rate corresponding to amount earned. Passive, or investment income, should be treated in terms of taxation as though it were earned at a job.

Could then afford to continue the deductions and breaks mentioned above for the middle class and perhaps lower the debt in the same process.
Click to expand...

Even tho it wasn't. I guess that sounds better tho when you trying to pilfer more $.

Is there a 3rd or 4th tax we can find to tax that money again? The way the govmnt spends it there is no way that will make a dent.
 
Last edited:
#30
#30
BeecherVol said:
Even tho it wasn't. I guess that sounds better tho when you trying to pilfer more $.

Is there a 3rd or 4th tax we can find to tax that money again? They way the govmnt spends it there is no way that will make a dent.
Click to expand...


Some people are born with enormous amounts of cash and should pay income tax based on investing that, just as I earn an income with my own particular skill set and hard work.
 
#31
#31
lawgator1 said:
Some people are born with enormous amounts of cash and should pay income tax based on investing that, just as I earn an income with my own particular skill set and hard work.
Click to expand...

So. Unless they stole it the govmnt has already took their cut and blew it. Why do they need more.
 
#32
#32
lawgator1 said:
Some people are born with enormous amounts of cash and should pay income tax based on investing that, just as I earn an income with my own particular skill set and hard work.
Click to expand...

what part of "it has already been taxed once" elludes your intellect....never mind, big government is THE answer in your mind
 
#33
#33
lawgator1 said:
Some people are born with enormous amounts of cash and should pay income tax based on investing that, just as I earn an income with my own particular skill set and hard work.
Click to expand...

So, even though the income was taxed when it was initially earned . . . capital gains paid on investment income . . . the estate was taxed upon the inheritance . . . and any capital gains to the heir are already being taxed . . . It should be taxed some more?

Wouldn't it be easier if the government just sucked all the money out of your account when you die?
 
Last edited:
#34
#34
GAVol said:
So, even though the income was taxed when an heir earned it . . . the estate was taxed upon the inheritance . . . and any capital gains are already being taxed . . . It should be taxed some more?

Wouldn't it be easier if the government just sucked all the money out of your account when you die?
Click to expand...

Im sure he along with many others would rather it be that way. No reason you should be able to give anybody anything with out the almighty gvmnt getting their cut (for the 4th or 5th time).
 
#36
#36
GAVol said:
So, even though the income was taxed when an heir earned it . . . the estate was taxed upon the inheritance . . . and any capital gains are already being taxed . . . It should be taxed some more?

Wouldn't it be easier if the government just sucked all the money out of your account when you die?
Click to expand...

details, shmetails....government NEEDS MONEY dang-it! how can this administration bring us out of this slump with out money to spend!
 
#38
#38
lawgator1 said:
Some people are born with enormous amounts of cash and should pay income tax based on investing that, just as I earn an income with my own particular skill set and hard work.
Click to expand...

I agree. I plan on spending my kids inheritance on loose women, strong drink and maybe even prescription drugs. Why should I work hard just to pass on my estate to the government? More incentive to think only about myself and, if I happen to out live their inheritance (i.e. my savings) I'll just throw myself back in the hands of the government that loves me.
 
#41
#41
Since the tax rate is based on the amount of money you earn,it is a pretty clear cut answer.
Posted via VolNation Mobile
 
#42
#42
T-TownVol said:
Since the tax rate is based on the amount of money you earn,it is a pretty clear cut answer.
Posted via VolNation Mobile
Click to expand...

So the individual?

In that case, the "money" hasn't been taxed when inherited. Somebody else has it, so it is taxed for the first time.

Not making a judgement on this, just trying to understand.
 
#43
#43
money is taxed. A person can still exist without paying taxed (and many do). The gov't took their cut of the money already

even if the person is taxed the gov't is taking at least another cut upon death
 
#44
#44
So what all counts as double taxation? Luxury tax, sales tax, capital gains, etc..?
 
#45
#45
It is called "income tax" not "individual tax"
Double taxation is any mandatory tax on income that has already been taxed. When you have a choice, it is not double taxation.
Posted via VolNation Mobile
 
Last edited:
#46
#46
T-TownVol said:
It is called "income tax" not "individual tax"
Double taxation is any mandatory tax on income that has already been taxed. When you have a choice, it is not double taxation.
Posted via VolNation Mobile
Click to expand...

Inheritance is income, right? Philosophically I'm not sure I understand the argument. The money has been taxed once as income...now it is income to someone else, hence being taxed. Income tax doesn't happen twice to the same money to the same person....I would consider that double taxation.

To set my bona fide from the beginning, I'm not completely in favor of taxing money passed down through generations. However, not sure I agree with the argument it is being taxed twice.
 
#47
#47
There is no other way to look at it. The money is earned and taxed. The father dies, it is taxed again for the privaledge of passing it on to his son. Then you say it should be taxed again just because that person has not paid a tax on it yet? Like I said, the tax is on the money when earned and the government should not tax that money again, as income, no matter where it ends up.
Posted via VolNation Mobile
 
#48
#48
rjd970 said:
Inheritance is income, right? Philosophically I'm not sure I understand the argument. The money has been taxed once as income...now it is income to someone else, hence being taxed. Income tax doesn't happen twice to the same money to the same person....I would consider that double taxation.

To set my bona fide from the beginning, I'm not completely in favor of taxing money passed down through generations. However, not sure I agree with the argument it is being taxed twice.
Click to expand...

Why could you call inheritance income?
 
#49
#49
T-TownVol said:
There is no other way to look at it. The money is earned and taxed. The father dies, it is taxed again for the privaledge of passing it on to his son. Then you say it should be taxed again just because that person has not paid a tax on it yet? Like I said, the tax is on the money when earned and the government should not tax that money again, as income, no matter where it ends up.
Posted via VolNation Mobile
Click to expand...

No, I am saying the money is now separate income, subject to the income tax. Had it not been passed on, or said father doesn't die, the government can't touch it because that income has already been taxed.

Why could you call inheritance income?
Click to expand...

Why wouldn't you?
 
New posts
You must log in or register to reply here.

VN Store



Back
Top