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  1. #8656
    Join Date
    Dec 2017
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    Quote Originally Posted by dbroncsinmo View Post
    If that were true, yes. It would absolutely be fair. However, you're wrong. The top 10% pay 80% of taxes.
    Was his stat not mine.

    My beef is with wealth inequality and the lack of a social safety net. I was just showing how dumb his own point was. I could care less what the % are.

  2. #8657
    Join Date
    Apr 2009
    Location
    Central Iowa
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    OK. I appreciate your opinion. I disagree with it.
    The top 10% employ most of the people in the country. They do not need to pay more in taxes than they already do. They are taxed enough already, as we all are. The problem we have in this country is that the congress and white house (regardless of the party in charge) are addicted to spending money. They do not have any fiscal responsibility (neither party).
    It is fair for the top 10% to own 70%+ of the assets in the country.

  3. #8658
    Join Date
    Dec 2017
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    3,014
    Quote Originally Posted by catman View Post
    Capital gains are the increase in value that an asset accumulates while you own it -- inflation.
    I did not throw a fit. You are not worth having a fit over.
    And, yes it is fair for people to own 70% of the assets in a country and pay 50% of the taxes. These people also employ many people and pay them wages that allow them to live comfortably.
    As I said, if you want to become wealthy, do something substantive. Stop whining about everything on an internet bulletin board.
    No lol. Inflation is the increase in prices which causes the fall in value of currency.

    Wow. You think growth and inflation are the same thing lol.

    You again. Cant wrap your head around why i want higher tax rates. You think "I must hate rich people" lol.

    I dont want to tax the rich and burn the money. I wantto pay for the infrastructure we have incoming. I want nationalized healthcare. 5 weeks mandatory vacation for any enployee of over a year.

    I want affordable college. A clean environment.

    You know. Like the rest of the world.

    I want to invest in the people getting ****ed in the middle of the country. Because even though theyre dumber than dirt they work hard and are still my countrymen. They shouldnt be left behind. And forced to work for 8 an hour.

    And yes. I want the rich to pay for it. Because the income inequality in this country is unnacceptable. And they can afford it.

  4. #8659
    Join Date
    Apr 2009
    Location
    Central Iowa
    Posts
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    Affordable college -- go to a community college and learn a trade. Electricians and plumbers are in very high demand.
    Capital gains are the appreciation of an asset while it is owned. That is the textbook definition of inflation. Your definition is flawed.
    Thank you for condescending to those of us that live in the middle of the country. One of the best medical centers in the world is 3 hours from my house -- Mayo Clinic. Another is about 90 minutes from my house -- University of Iowa Hospitals and Clinics. Iowa State University built the first super computer and own the patent for the fax machine. IBM was founded in the Midwest and 3M is one of the most innovative companies in the world.
    And no, I can't understand why anyone wants to pay higher tax rates. The problem is not that our treasury doesn't collect enough tax revenues. The problem is that congress is addicted to spending money foolishly.
    I'm pleased that you have the arrogant attitude you have. I can disregard your whining and crying easier now. Find a tissue to blow your nose and dab at your tears. I won't shed any for you.

  5. #8660
    Join Date
    Sep 2007
    Location
    West Side
    Posts
    13,576
    I'm a good person because I employ people and pay them ****. They should just be happy to have a job. Also I should be commended for employing them and paying them ****. You should all feel bad for me too because I don't want to pay taxes. I'm the real victim. I've also outsourced most of our factories and operations to third world countries so we can take advantage of third world labor laws, making me more money. Doing this has gutted middle America, but made my corporation billions. I'm the victim. Waaah!
    Last edited by statquo; 09-19-2021 at 07:27 PM.


    The Lost Boys of PSD

  6. #8661
    Join Date
    Dec 2017
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    3,014
    Quote Originally Posted by catman View Post
    Affordable college -- go to a community college and learn a trade. Electricians and plumbers are in very high demand.
    Capital gains are the appreciation of an asset while it is owned. That is the textbook definition of inflation. Your definition is flawed.
    Thank you for condescending to those of us that live in the middle of the country. One of the best medical centers in the world is 3 hours from my house -- Mayo Clinic. Another is about 90 minutes from my house -- University of Iowa Hospitals and Clinics. Iowa State University built the first super computer and own the patent for the fax machine. IBM was founded in the Midwest and 3M is one of the most innovative companies in the world.
    And no, I can't understand why anyone wants to pay higher tax rates. The problem is not that our treasury doesn't collect enough tax revenues. The problem is that congress is addicted to spending money foolishly.
    I'm pleased that you have the arrogant attitude you have. I can disregard your whining and crying easier now. Find a tissue to blow your nose and dab at your tears. I won't shed any for you.
    Textbook definition?

    Noooooooo lol. Omg you dont know the difference between growth and inflation.

    Inflation is about cost. You are wrong here. An asset value increasing is growth. Cost increase followed by a currency drop is inflation.

    It looks like Iowas broke *** needs new textbooks

  7. #8662
    Join Date
    Jan 2006
    Location
    America
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    102,812
    Quote Originally Posted by catman View Post
    Capital gains are just inflation. Taxes on inflation are usury.
    I appreciate the fact that you are simply trying to play class envy. If you want to get rich, do something substantive. Don't stay on an internet bulletin board and whine about how others have it better than you do. Whining never solved anything.
    This is a unique take. Capital gains are just inflation. Boy thatís one I have not seen before.

  8. #8663
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    Apr 2009
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    Central Iowa
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    You haven't taken many accounting classes, have you?

  9. #8664
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    Apr 2009
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    Central Iowa
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    Quote Originally Posted by MRSpock View Post
    Textbook definition?

    Noooooooo lol. Omg you dont know the difference between growth and inflation.

    Inflation is about cost. You are wrong here. An asset value increasing is growth. Cost increase followed by a currency drop is inflation.

    It looks like Iowas broke *** needs new textbooks
    What is "growth"? Define it for me. You appear to believe you know everything.

  10. #8665
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    Jan 2006
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    America
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    Quote Originally Posted by catman View Post
    You haven't taken many accounting classes, have you?
    Which account class discusses inflation with regard to capital gains?

  11. #8666
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    Dec 2017
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    Growth is just the increase in products being made and traded essentially. Not the most textbook definition but thats essentially it. Or "goods and services" if we wanna be precise.

    I think the definition you used for inflation is apreciation. Not growth. But DEFINITELY not inflation.

    Please dont appeal to your education right now lol. Just think for 2 seconds. Why would the increase value of assets be bad? Why would you be worried about rapid inflation if thats the case?

    Omg! Im really worried about my stocks being worth more!

    Not even going to be a dick on this if you just conceed your minor **** up. But quit doubling down for christ sake. This is common sense.

  12. #8667
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    Apr 2009
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    Central Iowa
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    I am not doubling down. I am simply saying that capital gains taxes are simply taxing inflation. An asset is not taxed until it is sold. The difference between the historical value and the sale value is the capital gain. Many assets simply gain value due to inflation, nothing more, nothing less. Land, for example, only has value to a buyer and a seller. Otherwise, it has no inherent value. It is used to produce things -- crops, manufactured goods, etc. When it is sold, the capital gain is only inflation. Collectible items and real estate appreciate due to inflation and demand.
    Capital gains taxes could be handled as ordinary income to the seller if you wish, but don't tell me that they are not taxed on inflation.

  13. #8668
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    Apr 2009
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    Central Iowa
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    I gave you a perfectly good way to be sure wealthy people pay their "fair share" of taxes. Consumption taxes are far more fair than income taxes are, as wealthy people consume more expensive items than middle and lower class people do. If you wish, you could put a luxury tax on high ticket items (boats, cars, planes, vacation houses, etc).
    There can be a low-income limit on this tax, if you wish. Lets say that there is a $40K credit on incomes to help the lower income workers avoid paying too much of their income as tax.

  14. #8669
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    Nvm

  15. #8670
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    Quote Originally Posted by dbroncos78087 View Post
    Which account class discusses inflation with regard to capital gains?
    Tax Accounting -- yes I took it.

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