Your income is taxed. Then those dollars left over that you wish to invest with are taxed if you have the audacity to make gains. The bottom line for cap gains taxes is you are being penalized for investing in the future of America. Hmmm..a portion of our hard earned gains(and we know how hard it really is) redistributed to other parties. Sounds more Socialist than Capitalist when I put it that way.....hmmm
By the same logic, any tax, such as one on wages earned, is a penalty. If you can find away to pay for governmental operations without taxes, please enlighten us.How do we pay for: Roads, police, fire, schools, defense, nationals parks, disaster relief, city & county hospitals, Govt agencies like CDC, NIH, Federal Bureaucracy, Judiciary, etc. Woul a flat tax apply to cap gains? The lion's share of Federal Taxes goes to the military and to entitlement. THe military, current and veteran's benefits account for 49% of outlays, based on an analysis by the War Resister's league. http://www.warresisters.org/piechart.htm Let's cut the military budget in half, and reform Medicare and Medicaid. What gives people the right to expect free medical care in their later years? I earn enough to not have to gripe endlessly about taxes.
I stated earlier in the thread I dont mind paying taxes. Of course all the things you listed need to get paid for. Its the multiple layers that infuriates me. How many different types of taxes do we have to pay? How much rope do we give the politicians to hang us with? And your little jibe about making enough to not gripe is bullshit. You dont know how much I made this year. My point is its your money...its our money...not the governments. BTW, the flat tax proposal would eliminate cap gains tax.
I recently began doing some more extensive research on this topic and have a hypothesis that needs to be researched further but I'll share it now. As pertains to wages, how can the government claim that you owe taxes on wages when in fact there is no profit involved. You are simply exchanging equal valued property. NO matter how badly the government abuses our civil rights I do not believe they can make the argument that our time and knowledge is not our own personal property. So in working for someone for a wage you are exchanging a valuable asset (time & knowledge) for another valuable asset (money) in an even exchange.
if they are going to increase the minimum wage due to inflation, then to be fair, shouldn't they shift up the income tax brackets as well for the same reason?
oh, so are they are going to increase the tax brackets when they increase the minimum wage? i hadn't read that. link? i'd like to know what the new levels are. i know the democrats want to increase my rate, which by the way, is near 40% when you add in state, local, municipality, etc. then of course, sales tax and property taxes on top of that. then again, they are lower than a couple decades ago. if it ever goes back to where it was pre-regan, anyone that is able to would at least think about moving out of the country.
go to irs.gov and search for "tax rate schedule". the first two will be 2006 & 2007 tax rate schedules. Along with tax brackets the amount subject to SS and the standard deduction and exemption also go up. They have been doing this for some time now, it is not new this year.
I really don't understand how a flat tax would eliminate the debt in 5 years and would be a welcome change to taxpayers. If it will eliminate the debt, then the tax would raise a great deal more revenue than taxes do today. I wasn't taking a jibe at you with the earnings remark, but at the morons who insist, despite a constitutional amendment and a slew of supreme court decisions to the contrary, that the income tax is unconstitutional. These people simply want to evade taxes, but draw upon services. I think they are parasites. Agreed, governmental institutions and thier staff have a vested interest in thier own existence, whether the people truly benefit from them or not.