How Republicans Screw Working People

Duff Miver

Duff Miver

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Just finished preparing Mom's Fed income tax. Mom had a lot of income last year - small amounts from Social Security and some interest and dividends, but a big chunk of long term capital gains. She made lots more than the average working man.

But, thanks to the Republicans under Bush, and their diddling with the tax code re: capital gains, her total Fed tax was.....zero, not a penny.

Joe Schmo who got up and worked every day and earned the same money would have paid a big tax bill.

The Republicans sold this pig-in-a-poke by saying eliminating long term capital gains would encourage people to invest. Nope. Just the opposite. It encouraged Mom to take her money and run.
 
Duff Miver

Duff Miver

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Turfgrass said:
I thought long term capital gains were taxed @ 15%?

It's 0% now?
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It's 0% for 2008-2012 tax years if your ordinary taxable income is under $34,000 which puts you in the 15% and under tax bracket. Thus most folks with earned income under about $45-50K qualify for 0% on long term cap gains.

http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States

http://www.obliviousinvestor.com/tax-brackets/

Sweet deal for the rich, no help for working folks who don't have a lot to invest.
 
Duff Miver

Duff Miver

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Skulnik said:
Maybe DUFF will turn his mom in as a TAX CHEAT, just like TIMMY.


:mj07:
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Too bad for you, Skulnutz. Mom is fully compliant with the tax codes, and thanks George Bush for the gift which dumps the tax burden on working stiffs.

I would have said "dumps the burden on working stiffs like you", but minimum wage dinks pay little tax anyway.
 
Skulnik

Skulnik

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Duff Miver said:
Too bad for you, Skulnutz. Mom is fully compliant with the tax codes, and thanks George Bush for the gift which dumps the tax burden on working stiffs.

I would have said "dumps the burden on working stiffs like you", but minimum wage dinks pay little tax anyway.
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Retired at 46, same old name calling piece of SHIT!

JMHO
 
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GENO

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DM
"Sweet deal for the rich, no help for working folks who don't have a lot to invest."

you should strive to accumulate some capital to invest, get an extra job, save, cut out cable, but find a way to invest in the future of this country and for yourself :0074

GOOD LUCK:)
 
Duff Miver

Duff Miver

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GENO said:
DM
"Sweet deal for the rich, no help for working folks who don't have a lot to invest."

you should strive to accumulate some capital to invest, get an extra job, save, cut out cable, but find a way to invest in the future of this country and for yourself :0074

GOOD LUCK:)
Click to expand...

Good ideas, but nobody ever invested in the future of the country. People invest to make more money for themselves. And to keep all of it possible.
 
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GENO

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"Good ideas, but nobody ever invested in the future of the country. People invest to make more money for themselves. And to keep all of it possible."

I have to disagree, people did and still do invest in the future of the country, thousands of men showed up to enlist and invest there time and quite possible ALL of their future to fight for out country the days after Pearl, and those that stayed behind invested some of thier earnings into war bonds, to help the country fund the fight against the evils that wished to place it's boot heel upon the world. They won and maintained the right you and I have to express our thoughts in speech and written word like right here.

I do hope to have enough money working for me that I can stop work in about 12 years so all you said is true, I quite frankly hope I spend all of mine in retirement, I love my kids but have worked for almost all I have and feel they should to.:0008
 
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ssd

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Your argument is flawed. Ordinary working people who make that income get long term capital gains at zero tax. "Rich" people still would have to pay the 15%.

Yup - Republicans screwing the little guys again - getting them tax free gains.


Why can't people be happy that they didn't have to pay taxes on a gain rather than trying to blame someone for it?
 
Cie

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I am not rich, but I sure am glad about tax breaks on interest, dividends and capital
gains.:toast: Were I to pay 30% + on these things, it could have an adverse effect on my
quality of life:shrug:
 
Duff Miver

Duff Miver

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GENO said:
"Good ideas, but nobody ever invested in the future of the country. People invest to make more money for themselves. And to keep all of it possible."

I have to disagree, people did and still do invest in the future of the country, thousands of men showed up to enlist and invest there time and quite possible ALL of their future to fight for out country the days after Pearl, and those that stayed behind invested some of thier earnings into war bonds, to help the country fund the fight against the evils that wished to place it's boot heel upon the world. They won and maintained the right you and I have to express our thoughts in speech and written word like right here.

I do hope to have enough money working for me that I can stop work in about 12 years so all you said is true, I quite frankly hope I spend all of mine in retirement, I love my kids but have worked for almost all I have and feel they should to.:0008
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That 75 year old history is all well and good, but when's the last time you bought a War Bond, or volunteered to fight?

I won't hold my breath.
 
Trench

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...and don't quote me on this but I'm pretty sure Nixon was a communist. How else do you explain all those China trips? :shrug:

...and I think it goes without saying that Reagan was a Muslim. Why else would he have armed the Mujahidin? Think about it... kurby
 
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GENO

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Duff Miver said:
That 75 year old history is all well and good, but when's the last time you bought a War Bond, or volunteered to fight?

I won't hold my breath.
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I have bought US Savings bonds many many times but many years ago.

I have a 91 year old uncle that was a GI, WWII, another uncle served stateside in US Army Air Corp, my Dad was an essential farmer, I had a cousin that served in Korea, and I did not burn my draft card 18 in 1972, would have served if called but Nixon shut it down.

THANK YOU VERY MUCH FOR ASKING.

PS, you can take a breath now, and OH by the way, my maternal Great-Great grandfather was a surgeon for the UNION ARMY, you know the one that fought in the Civil War, and a grand uncle also was in the Union army.

Don't make me anyone special just thought you should know DM.

I am a 1954 model, my Dad 1915, he will be 96 in August, I hope he makes it, and my Grandfather was born 1867, it was his step brother, His mother was my Great grandfather's second wife. Childbirth got a lot of women back then.
 
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hedgehog

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I see this as being a good thing, I lower my income as much as possible to lower my tax burden, I make way more than 34k per year, so I get taxed at 15 percent On cap gains, if I could lower income to 33999 I would:0008.
 
Cie

Cie

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GENO said:
I have bought US Savings bonds many many times but many years ago.

I have a 91 year old uncle that was a GI, WWII, another uncle served stateside in US Army Air Corp, my Dad was an essential farmer, I had a cousin that served in Korea, and I did not burn my draft card 18 in 1972, would have served if called but Nixon shut it down.

THANK YOU VERY MUCH FOR ASKING.

PS, you can take a breath now, and OH by the way, my maternal Great-Great grandfather was a surgeon for the UNION ARMY, you know the one that fought in the Civil War, and a grand uncle also was in the Union army.

Don't make me anyone special just thought you should know DM.

I am a 1954 model, my Dad 1915, he will be 96 in August, I hope he makes it, and my Grandfather was born 1867, it was his step brother, His mother was my Great grandfather's second wife. Childbirth got a lot of women back then.
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U owe no explanations to duff. Even reasonably intelligent know-it-alls suck. Jmo.
 
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