47% of Tea Party supports raising taxes on incomes >$250k

[Zebo]

I dont know about vanishing. Although capital gains for those in the 10 and 15% tax bracket is different than those in the 38% bracket (home sales vs investment income).

There is a exemption of 250K-500K for everyone on homes (although I suspect it's not being used much these days). As far as gains % for people in the 10% bracket, this has to be a joke. 80% of all stocks/bonds is owned by top 1% who are as far from 10% bracket as you can get. People in 10% bracket don't own much but their bellies.

(but one can change that reading millionaire next door)

 

[Icepick]

Taxes are pretty high on earned income already. What needs to be addressed is passive, cap gains, dividends which has no employment taxes attached to it AND is taxed at a lower rate than working for a living.

Most people miss this, because they work and seem overtaxed. And they are. That's how modern Republicans keeps the faithful.

What we should be taxing higher is leisure class making billions off displacing American labor for cheap labor. We don't though. Jobs and other investors pay themselves a token salary of $1 and get their billions out at 15% flat no employment taxes ss/med/ue etc. I paid more than 15% on my income working at a hardware store in college. Ridiculous.

Excellent post. This sums it up nicely.

 

[blackangst1]

There is a exemption of 250K-500K for everyone on homes (although I suspect it's not being used much these days). As far as gains % for people in the 10% bracket, this has to be a joke. 80% of all stocks/bonds is owned by top 1% who are as far from 10% bracket as you can get. People in 10% bracket don't own much but their bellies.

(but one can change that reading millionaire next door)

Forgot about the exemption. And I agree with your post

 

[Engineer]

Taxes are pretty high on earned income already. What needs to be addressed is passive, cap gains, dividends which has no employment taxes attached to it AND is taxed at a lower rate than working for a living.

Most people miss this, because they work and seem overtaxed. And they are. That's how modern Republicans keeps the faithful.

What we should be taxing higher is leisure class making billions off displacing American labor for cheap labor. We don't though. Jobs and other investors pay themselves a token salary of $1 and get their billions out at 15% flat no employment taxes ss/med/ue etc. I paid more than 15% on my income working at a hardware store in college. Ridiculous.

:thumbsup::thumbsup:

 

[Icepick]

http://www.lewrockwell.com/blog/lewrw/archives/88529.html:

Does this make anyone else afraid of the future? Don't these idiot assholes realize that LBJ, who was a fucking DEMOCRAT, created medicare?

This is a very strange article. On one hand, they support taxing the very wealthy. On the other they are against cutting government spending on medicare. Why do they have such an unfavorable view of Obama (the defacto leader of the Democratic party since he's the president.) Why do they have such a high approval rating of George bush who advocated cutting government spending and lowering taxes for the wealthy? If not for political reasons then what is the basis of their disapproval of Obama?

 

[Zebo]

This.:thumbsup:

There's no reason capngains shouldn't be taxed as regular income

Golden Rule. Those with the gold make the rules. Especially so lately. Both Sides.

You know Democrat Schumer NY fought for hedge fund manager exemption. This is real salary, not gains, in fact fund can lose, money drawn from fund every pay period and paid out at 15% flat no employment taxes.

There are around 20,000 hedge funds in existence with more created each day. Most have several managers. All are in top 1%. Many make billions a year. I'd like to do long math on this someday but I bet we could plug a 200B hole right here just applying normal income tax rates to them like any working stiff pays. Who IMO is more noble in the first place. Your doctors, your teachers, your plumbers.

But really it's not a question of raising money but of basic equality..

Is it "equitable" a staff surgeon making 400K pays about 40% in taxes while a manager of these funds making 400K pays 15%?
http://www.youtube.com/watch?v=N_a4BU09GrU

 

[Doc Savage Fan]

I'm a fiscal conservative and I approve of this message. But please do me one small favor...make significant budget cuts first and get out of these bullshit wars before asking for a dime.

 

[the DRIZZLE]

I suspect you might be right; conversely, this is why the rich might like the debate to be about the income tax rate, which they might 'lose' on, if cap gains remain undertaxed.

The income tax rate becomes somewhat useful as a propaganda tool - if you got a nickel for every post here about 'the rich pay all the income tax', it'd trigger that top bracket.

I agree completely and have made this point in the past. The truly wealthy (top 0.1%) always win no matter what happens whether its tax increases, tax cuts, subsidies, regulation or deregulation.

I guess you will also agree that Obama is in on it too since he wants a 39% top income tax rate and a 20% capital gains rate.

 

[wuliheron]

I'm a fiscal conservative and I approve of this message. But please do me one small favor...make significant budget cuts first and get out of these bullshit wars before asking for a dime.

Sorry dude, its cash up front.

 

[lupi]

Taxes are pretty high on earned income already. What needs to be addressed is passive, cap gains, dividends which has no employment taxes attached to it AND is taxed at a lower rate than working for a living.

Most people miss this, because they work and seem overtaxed. And they are. That's how modern Republicans keeps the faithful.

What we should be taxing higher is leisure class making billions off displacing American labor for cheap labor. We don't though. Jobs and other investors pay themselves a token salary of $1 and get their billions out at 15% flat no employment taxes ss/med/ue etc. I paid more than 15% on my income working at a hardware store in college. Ridiculous.

we should go back to the days of yore where there are no taxes on wage income.

 

[khon]

And yet the number of Tea Party politicians who supporting raising taxes on the rich is 0%.

Tells you all you need to know about the influence of money in US politics, and the resulting disconnect between voters and their representatives.

 

[Doc Savage Fan]

Sorry dude, its cash up front.

So you can spend it on high speed rail (or whatever you feel like) and start another military action against some 3rd world country? FU.

 

[Ape]

And yet the number of Tea Party politicians who supporting raising taxes on the rich is 0%.

Tells you all you need to know about the influence of money in US politics, and the resulting disconnect between voters and their representatives.

To be far, we don't want tax's rasied on anyone and we want spending cut and put back under control.