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  • Miami
  • Jan 23, 2012
  • 850,040
  • 2 Years 187 Days
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by SHEP20715  Jul 02, 2014

congratulations on posting for 600 consecutive days, that is real dedication, helping others to save money on gas. .YB.Shep

by CatMan623  Jun 22, 2014

N4PIP, you guessed correctly. I disagree. I believe we should rip out the tax code by it's roots. It is the source of many things that are ailing the U.S. these days. I believe we should institute a flat tax on EVERY dollar of income in the country. I believe we should collect "X" percentage of all income, from whatever source - foreign and domestic - from everyone. No deductions, no tax credits, no exemptions, effective from dollar "one". Everyone pays the same rate. I do not believe in so-called progressive taxes. Progressive tax rates sound too much like Karl Marx to me "...from each according to his means, to each according to their needs".

by drpepperTX  Jun 22, 2014

LOL! Funny how one reacts when caught in an outright lie! You stay classy now N4PIP, of course you set the bar really low!

by CatMan623  Jun 21, 2014

N4PIP, all tax rates are temporary. Each and every one of them can be changed at the stroke of a pen. Always been that way in the U.S. If, however, you would like to pay a higher rate on your capital gains, you are free to do so. You can make the check out to the Department of the Treasury. You can pay 100% capital gains if you like. Or 200%.

by drpepperTX  Jun 21, 2014

What taxes? according to you, there are no capital gains taxes anymore. And when I die my kids and grandkids won't have to arrange to pay inheritance taxes either. What's up with that? It's Hell being caught in a lie eh?

by drpepperTX  Jun 21, 2014

N4PIP, just what world are you living in? The rate on short-term capital gains is equal to ordinary income tax rate, which is 39.6% for the "wealthy". The rate on long-term capital gains for those in the top bracket is 20%. Ah but there's even more...For the "wealthy" even higher rates apply. On depreciated types of property, there is the "recapture" of that depreciation when you sell, and the resulting gains get taxed at 25%. Meanwhile, for sales of collectibles, gold, silver and small-business stock, a 28% rate applies. And even more specially for the "wealthy", hidden in the Obamacare bill was the extra 3.8% tax on top of all those others. Starting last year, this income tax started to apply for high

by CatMan623  Jun 21, 2014

http://www.fool.com/how-to-invest/personal-finance/taxes/2014/03/29/capital-gains-tax-rate-for-2013-and-2014-58-increa.aspx

by CatMan623  Jun 20, 2014

I must have missed something. When was the capital gains tax repealed?

by drpepperTX  Jun 20, 2014

continued...high-income taxpayers. If you earn more than $200,000 for single filers or $250,000 for joint filers, then your capital gains, long term or short term, and other investment income will be taxed an extra 3.8%. Then, after paying taxes all your life, they now come get you when you die. The wealthy face a 40% confiscation rate, er um tax rate, of there assets, on which they've paid taxes all their lives.

by KCjones  Jun 15, 2014

I recognize your picture, you're the robot on "silent running" with Bruce Dern from many years ago. What a great movie!!

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