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Sorry you are on team snob.
No.
Just to bother snobbery.
Im a snob knocker.
Sorry you are on team snob.
You didnt hear about the conservative boycott thats driving them into the ground?
What rock you been under bro
They are ty, they have upside.
Capital gains tax is a type of income tax....Buffett has said numerous times that that cap gains tax should be higher.
Team snob knocker.
Sup n!gger
I would not say that capital gains tax is a type of income tax. You cannot use capital gains as a basis of say, opening an IRA or Roth IRA - for which you must have earned income. Also, there is no corresponding SS and medicare tax associated with capital gains as there is for (earned) income. I see capital gains as an investment income. Short term (less than 1 year) capital gains is taxed at ordinary income rates (10, 12, 22, 24, 32, 35, 37%) while long-term is taxed at a different rate (0, 15, 20% - people in the 2 lowest income tax brackets pay no long-term capital gains).
https://www.nerdwallet.com/blog/taxe...ins-tax-rates/
I didn’t say anything about “earned” income you stupid halfbreed , and it’s an especially stupid thing to bring up in the context of my post when the entire point of what Buffet says is that earned income shouldn’t be taxed at a higher rate than cap gains income.
Your statement is incorrect. Capital gains is not related to income - it's from the sale of investment (thus capital loss if sold below price you bought at).
income is income, goddamit
there is earned income (eg, from employment) and unearned income (eg, from inheritance, gifts, appreciation)
it's all taxable income
Last edited by boutons_deux; 07-29-2018 at 07:45 AM.
And what pray tell is capital loss? Loss of your so-called "unearned" income? - there are very specific rules/limits about offsetting capital gain with capital loss.
And the person who gets an inheritance is not taxed (it's the dead person who is taxed if estate is very high) - so has nothing to do with heir's income or tax rate. Dead person's asset gain/appreciation and depreciation on real estate is "reset" - or stepped up in basis to market value at time of inheritance.
And gifts are not taxed to the recipient - again nothing to do with recipient's income or tax rate.
sup scrohsep
You wish.
What does that have to do with anything? If you don't work and don't get earned income, then you don't pay earned income tax. Similarly, if your poor choices in investments didn't earn a profit, then you don't get taxed for unearned income on capital gains.
They're both taxes on income. What's so freaking hard to decipher here?
Definition of income: a gain or recurrent benefit usually measured in money that derives from capital or labor; also : the amount of such gain received in a period of time (ie: has an income of $30,000 a year)
https://www.merriam-webster.com/dictionary/income
Think of it this way: I bought my rental house decades ago and it has appreciated over the years. When I die, this asset (or its gain) will not be taxed - it will pass to my kids untaxed - it is not considered income.
If I invest my (taxed - not in an IRA) money in whatever, the gain on that investment is not considered income to me unless I sell it and again if I pass on to my kids, the step up basis is reset to market value (meaning they also don't pay tax on it) unless it later appreciates and they SELL it.
Capital gain or loss is only realized with the SALE of an investment/asset - one can CHOOSE not to sell - otoh, you cannot choose not to pay taxes on income (Uncle Sam would not allow that - you can only delay via IRA). Uncle Sam taxes our income but not the gain on investment (capital gain - until it is sold).
so you’re saying gains from the sale of an asset isn’t considered income? No surprise you’re making 40k a year working for the gubbamint
Right, and cap gains tax is only paid after an investment/asset is sold, there’s no tax on the mere appreciation of value. You are really ing stupid.
Because there's a million other live streaming services and great options for free illegal streaming?
Like investing in a CD warehouse like BMG in 2001..
It's part of the vocabulary like Google is.
Just because it's not the only one hardly means it's dead.
Last edited by Othyus Lalanne; 07-29-2018 at 10:18 AM.
ducks copying and pasting lessons he himself doesnt understand in order to teach people
peak ducks imo
This f*****g stupid, vacuous and ignorant person will continue to see and treat income much differently from asset and possible capital gains/loss. From worst to best:
1. earned income - yes, that includes my 40+k government job - if some had been paying attention, I'm there for reasons other than the pay (obviously) - I'd probably get more day trading (no SS/Medicare) than working there. We survived and thrived for 2 decades WITHOUT this earned income that you think is so paltry and scoff at. Word of advice to those who are starting or open to listening - don't knock yourself over on this category - not only federal tax but SS and Medicare. Instead concentrate on improving the other categories. Switch jobs to earn more unless a pension or family is involved.
2. savings/CD/passive income (taxable) accounts - yes, you pay federal tax but no SS/Medicare
3. IRA - especially with match - delay taxes
4. ROTH IRA - especially if in low income bracket - pay taxes upfront and never again.
5. HSA (if relatively healthy) - triple tax savings
6. Real estate - it's solid/tangible, gives peace of mind (doesn't drop 25% in value overnight), long-term appreciation, helps with current taxes from depreciation, no taxes or recapture of depreciation if passed on to heirs, offers diversification and steady/regular income (eventually).
Every dollar that I don't pay in taxes can be possibly invested or "speculated" on (is that a term?) - like bitcoin or whatever else I take a chance on and I vote accordingly - better in my hands than the government.
lol anecdotes and still won't admit being wrong.
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