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suggestion accepted!
ALL income should be subject to SS and medicare and unemployment.
we need to rebuild a strong middle class in order to resurrect the economy yet what the government always wants to do is tax the out of these people, while making the richest 1% exempt. small business sector should be the main employer in a healthy economy but the gonverment has made a terrible atmosphere for small business owners where they can hardly survive, let alone flourishing
suggestion accepted!
ALL income should be subject to SS and medicare and unemployment.
It's a LIE
Right. Because the political scorecard is what's really important here.........
???
Dividends are taxed at the normal rate. Dividends = ordinary income.
Why do so many people on this site keep insisting this? Qualified dividends (and and it's not like qualified is a very special criteria) are taxed at the long term cap gains rate. That was a part of the Bush tax cuts.
You're right. Got my head up my arse this morning.
This morning?
Well, that's my story.This morning?
and
People tend to think low capital gains rates only benefit the super rich "Gordon Gecko" types. In reality, there are a lot of people (like myself) who own stock options that are subject to these rates. I'm hoping to cash these suckers in before the rates go up.
"there are a lot of people"
the top 1% OWN 50% of all investment assets, so your " lot of people" own next to nothing in investment assets. and probably 50% actually own NO (non-residence) investments assets
http://www2.ucsc.edu/whorulesamerica/power/wealth.html
I never claimed that people like me own much relative to the 1% -- I'm just trying to maximize my return (as would any ed and un able human American).
It's not about who benefits from it, at least with me. It's about the type of investments it encourages. If someone rich benefits from a low cap gains rate because he sells the business he started from scratch after creating hundreds of jobs and adding to the economy, then in that instance a low cap gains rate is working. If a VC fund can make more aggressive investments in new ventures because of a low cap gains rate, then it would be working. Your stock options are an example of why the low cap gains rate isn't working. The low rates gave you incentive to invest in securities that contribute nothing to the economy and don't create any jobs. If a high cap gains rate made stock options a less sexy investment that proves my point.
Get rid of cap gains rates and just treat it all as ordinary income. Do that and you can lower income tax rates and still come out revenue positive.
In the long term I agree. In the short term I think we need to get rid of the cap gains rate and raise taxes to Clinton levels until the deficit is under control.
Well, I'm cashing out before I get screwed by the new rates.
Then what?
why lower income tax rates? they are already historically very low.
cap housing mortgage interest deduction at the rate for an region-adjusted avg house price on a 20-year mortgage. Any interest above that is not deductible.
100% of the value of employees group insurnace to be treated as a taxable benefit/income.
Well, it will probably bring in more than the rigorous tax cuts that Republicans have proposed to PBS...
I thought your stocks sucked?
And I think the belief is that if businesses were reinvesting that capital into actual jobs, it would be a "rising tide" for other middle class workers.
You and everyone else. Panicking like a moron. Go ahead and cash out while the market's down 7%. You should have sold before the election. Nate silver pretty much told you to
You and everyone else. Panicking like a moron. Go ahead and cash out while the market's down 7%. You should have sold before the election. Nate silver pretty much told you to
Uh, privately held company, dude. I'm talking about stocks in my own company.
Ah. Mea culpa I should not make assumptions.
Then buy back in to get a new (higher) cost basis.
Let's say you are someone with a $300k income between you and your wife, and you are putting two kids through college, paying not only a mortgage, but two car payments, insurances, and other expenses. You have been living like this for some time now, and some jackass wants to tax another 4.6% of your taxable income at the top marginal rate, and SS reverts back to 6.2%. You have been living OK after paying high tuition, fees etc for the kids, but have so little disposable income already. You taxes and SS liability now jump another 14,600 for the year. Over $1,200 a month.
Just because people make more money doesn't mean they don't have expensive outlays.
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