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On Sep 27, 9:29*pm, wf3h wrote:
On Sep 27, 6:36*pm, Jack wrote: On Sep 27, 1:05*pm, wf3h wrote: On Sep 27, 11:48*am, Jack wrote: On Sep 27, 11:29*am, wf3h wrote: and you don't have a right to a tax rate of 15% if you're rich. if you're rich you pay the same rate as the middle class Another liberal fable. *The rich pay a 35% tax rate on income. *It's the rich Demoncrats in DC that pay *no* taxes, as we've all seen over the last few months, eh? no, they don't. sorry. Yes they do, sorry. *the rich make their money on capital gains. and the capital gains tax is 15%, minus deductions for losses. Capital gains is a tax on investments. You *hope* you get to pay a 15% tax on a gain, because the alternative is that you lost some, or all, of you initial investment. Meanwhile, you're still paying 35% on your income, which is what you used when you gambled on the investment. So take a working professional making $500k a year, with $200k in adjusted capital gains. Since deductions have long been phased out at this income level, we can apply some simple math and see this person pays about $205k in taxes. That's not enough? Why do you want to penalize people that worked hard and becaome successful? The rate for Long Term Capital gains is 15% for the "rich", and 0% for the poor. *Ooops. that's because the poor work for a living and pay 28%. You're terribly confused. The single income range for a 28% tax rate is $78,851 – $164,550; married filing jointly is $131,451 – $200,300... hardly "poor". Your irrational hatred of successful people is blinding you. |
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