Romney: Obama voters don't pay income taxes

[CosmicCowboy]

I know that capital gains are personal..you're missing the point. When you own shares in a company, you literally own that company. So you're getting taxed at the corporate level on your earnings (35%) and then whatever your income after taxes is determines any capital gains (or losses) which are again taxed at 15%. It's double taxation.

Wrong again.

Lets say you bought $100,000 of Apple at $400 and sold them at $500.

Yes, apple probably paid some taxes during that time but you didn't.

You sell the shares for $125,000 and pay 15% on the 25K profit.

[TeyshaBlue]

I own some shares in a few small companies. I've yet to write out a tax payment for the piece of the business I "own".

[TeyshaBlue]

So no. I'm not being taxed 2x.

[ChumpDumper]

Just for laughs, show me a publicly traded company that paid 35% in corporate taxes.

[mavs>spurs]

So no. I'm not being taxed 2x.

if the business weren't taxed at 35%, the discounted cash flows would have been higher, and therefore your capital gains would have been higher and you'd have more money in your pocket. the 35% came out of earnings that you never saw, they were harvested before it ever got to you like withholdings

[mavs>spurs]

Just for laughs, show me a publicly traded company that paid 35% in corporate taxes.

at least you get it, and took the argument in a different direction.

[MannyIsGod]

Finance major logic: I get taxed on income therefore sales taxes are double taxation.

[mavs>spurs]

Wrong again.

Lets say you bought $100,000 of Apple at $400 and sold them at $500.

Yes, apple probably paid some taxes during that time but you didn't.

You sell the shares for $125,000 and pay 15% on the 25K profit.

Wrong. If apple weren't taxed at 35%, you would have sold those shares for 550 instead. Just because it isn't literally handed to you then immediately taken away doesn't mean that it didn't exist.

[TeyshaBlue]

Like I said. I never paid those taxes.

You can make the argument that the money is taxed twice, but that's a big "Duh".

[ChumpDumper]

at least you get it, and took the argument in a different direction.

Sales tax, tax on interest bearing accounts -- it's not like the non-investor is getting a free ride.

[TeyshaBlue]

Like I said. I never paid those taxes.

You can make the argument that the money is taxed twice, but that's a big "Duh".

Plus, it's not really "my" money.

[ChumpDumper]

Plus, it's not really "my" money.

Dude, you own Apple?

[mavs>spurs]

Like I said. I never paid those taxes.

You can make the argument that the money is taxed twice, but that's a big "Duh".

It's a big duh that some people here obviously don't get.

[TeyshaBlue]

Dude, you own Apple?

lol. I sure as wouldn't be here if I did.

[TeyshaBlue]

It's a big duh that some people here obviously don't get.

That's because you couched it within the context of personal money. It's not.

[mavs>spurs]

That's because you couched it within the context of personal money. It's not.

So if the company goes bankrupt, who gets the remaining assets after the creditors are paid off? Is cash not an asset?

[coyotes_geek]

Manny..just for laughs, what do you think determines the value of your stock? Where do you get your gains or losses from, what determines that?

Care to take a stab at answering your own questions? Because based on your comments so far in this thread, I don't think the actual answers to are going to match what you think the answers are.

[MannyIsGod]

It's a big duh that some people here obviously don't get.

People get it but don't try to act like that was your argument.

[MannyIsGod]

A bankrupt company having assets when creditors are paid off? LOL!

[mavs>spurs]

Care to take a stab at answering your own questions? Because based on your comments so far in this thread, I don't think the actual answers to are going to match what you think the answers are.

The value of the stock is simply determined by the value of discounted cash flows aka earnings AFTER TAXES

[DUNCANownsKOBE]

So if the company goes bankrupt, who gets the remaining assets after the creditors are paid off? Is cash not an asset?

If a company goes bankrupt, there probably aren't any remaining assets left after all creditors are paid off.

[mavs>spurs]

If a company goes bankrupt, there probably aren't any remaining assets left after all creditors are paid off.

true, but who would get them in the event there were any? who are the lawful owners of the company assets?

[TeyshaBlue]

So if the company goes bankrupt, who gets the remaining assets after the creditors are paid off? Is cash not an asset?

It's a ledger balance. Nothing more. It's not liquid until it's converted. That's when I own the tax liability for the stock.

[DUNCANownsKOBE]

true, but who would get them in the event there were any? who are the lawful owners of the company assets?

Shareholders.

Paying taxes on capital assets gaining value and paying taxes on income are two different things.

[TeyshaBlue]

Srsly. This is not rocket science.