Letter to Feinstein

[Arty]

The wages slaves are generally taxed at a reasonable progressive rate. It’s those guys that make most of their money off of capital gains that are making a killing with their low tax rate.

Yea, that’s part of the Bush tax cuts, too. If you haven’t realize that :P. The capital gain is set to flat 15% for long term i.e. 1 year, lol! It’s time to quit your jobs and start a company!

For those who think they are paying a lot taxes in the 100k-200k range. Please give me a percentage of how much you ACTUALLY paid after the deductions (the IRA deduction, the 60k deduction you took on the hammer, deduction on HELOC etc.)! Also, if you think about it, the reality is that our government is having a serious insolvency issue if you believe in our former federal com controller. Who is to blame? I guess we only have to see which presidents spent the most amount of money in their terms…that will be???

[an]

So there you have it. Buffett has a tax rate of 17.7% (without even trying to use any loopholes), while his secretary was taxed at 30%. How is that fair?

The wages slaves are generally taxed at a reasonable progressive rate. It’s those guys that make most of their money off of capital gains that are making a killing with their low tax rate.

So now you’re shifting the argument to capital gain instead? Like FLU said, that’s the way the system work for a very long time. Either find way to succeed with the system or find another system that’ll make you more happy. With what you post, Socialism or Communism might fit you very well. There will be no rich or poor, since everyone is either about the same (in socialism) or everyone is the same (in communism).

[an]

So there you have it. Buffett has a tax rate of 17.7% (without even trying to use any loopholes), while his secretary was taxed at 30%. How is that fair?

The wages slaves are generally taxed at a reasonable progressive rate. It’s those guys that make most of their money off of capital gains that are making a killing with their low tax rate.

So now you’re shifting the argument to capital gain instead? Like FLU said, that’s the way the system work for a very long time. Either find way to succeed with the system or find another system that’ll make you more happy. With what you post, Socialism or Communism might fit you very well. There will be no rich or poor, since everyone is either about the same (in socialism) or everyone is the same (in communism).

[an]

So there you have it. Buffett has a tax rate of 17.7% (without even trying to use any loopholes), while his secretary was taxed at 30%. How is that fair?

The wages slaves are generally taxed at a reasonable progressive rate. It’s those guys that make most of their money off of capital gains that are making a killing with their low tax rate.

So now you’re shifting the argument to capital gain instead? Like FLU said, that’s the way the system work for a very long time. Either find way to succeed with the system or find another system that’ll make you more happy. With what you post, Socialism or Communism might fit you very well. There will be no rich or poor, since everyone is either about the same (in socialism) or everyone is the same (in communism).

[an]

So there you have it. Buffett has a tax rate of 17.7% (without even trying to use any loopholes), while his secretary was taxed at 30%. How is that fair?

The wages slaves are generally taxed at a reasonable progressive rate. It’s those guys that make most of their money off of capital gains that are making a killing with their low tax rate.

So now you’re shifting the argument to capital gain instead? Like FLU said, that’s the way the system work for a very long time. Either find way to succeed with the system or find another system that’ll make you more happy. With what you post, Socialism or Communism might fit you very well. There will be no rich or poor, since everyone is either about the same (in socialism) or everyone is the same (in communism).

[an]

So there you have it. Buffett has a tax rate of 17.7% (without even trying to use any loopholes), while his secretary was taxed at 30%. How is that fair?

The wages slaves are generally taxed at a reasonable progressive rate. It’s those guys that make most of their money off of capital gains that are making a killing with their low tax rate.

So now you’re shifting the argument to capital gain instead? Like FLU said, that’s the way the system work for a very long time. Either find way to succeed with the system or find another system that’ll make you more happy. With what you post, Socialism or Communism might fit you very well. There will be no rich or poor, since everyone is either about the same (in socialism) or everyone is the same (in communism).

[Coronita]

Yea, that's part of the Bush tax cuts, too. If you haven't realize that :P. The capital gain is set to flat 15% for long term i.e. 1 year, lol! It's time to quit your jobs and start a company!

 

Um, yes, that is the objective of passive income versus salaried income, in case you haven't figured it out. It's not like the government is trying to hide this as a secret handshake of some sort. Long term cap gains treatment has always been around, and isn't it obvious that given that if you could make and extra say $100k on a W-2, or be given $100k in stock, you would pick the later versus the former? You've heard of the term financial independence…It means being able to live off of passive income and "not having to work (IE earn a salary)."

That's why every dollar you spend from your W-2 on "bling" that you don't need is one less dollar that you can use to work for you in moving in that direction and why that $2000-$3000 plasma really costs a hell of a lot more than what you actually paid for.

 

That's why I say you reach a point in your salaried comp when really when you boss says, I'll give you between a 5-10% raise (or you don't get one), it doesn't really make one iota of difference after taxes (though your ego might be bruised a bit).

It's not just from long term cap gains on stocks. What about the $250k/$500k earnings exemption from selling a primary home? I suppose we should get rid of that too. What about rental exchanges and favorable tax treatments from that. I guess we should get rid of that too. The list goes on and on.

You forget also that rich folks like buffet already end up paying 80-90% of the taxes in the system, and a good portion of the population pay 0 taxes and even get a credit.

 

[Coronita]

Yea, that's part of the Bush tax cuts, too. If you haven't realize that :P. The capital gain is set to flat 15% for long term i.e. 1 year, lol! It's time to quit your jobs and start a company!

 

Um, yes, that is the objective of passive income versus salaried income, in case you haven't figured it out. It's not like the government is trying to hide this as a secret handshake of some sort. Long term cap gains treatment has always been around, and isn't it obvious that given that if you could make and extra say $100k on a W-2, or be given $100k in stock, you would pick the later versus the former? You've heard of the term financial independence…It means being able to live off of passive income and "not having to work (IE earn a salary)."

That's why every dollar you spend from your W-2 on "bling" that you don't need is one less dollar that you can use to work for you in moving in that direction and why that $2000-$3000 plasma really costs a hell of a lot more than what you actually paid for.

 

That's why I say you reach a point in your salaried comp when really when you boss says, I'll give you between a 5-10% raise (or you don't get one), it doesn't really make one iota of difference after taxes (though your ego might be bruised a bit).

It's not just from long term cap gains on stocks. What about the $250k/$500k earnings exemption from selling a primary home? I suppose we should get rid of that too. What about rental exchanges and favorable tax treatments from that. I guess we should get rid of that too. The list goes on and on.

You forget also that rich folks like buffet already end up paying 80-90% of the taxes in the system, and a good portion of the population pay 0 taxes and even get a credit.

 

[Coronita]

Yea, that's part of the Bush tax cuts, too. If you haven't realize that :P. The capital gain is set to flat 15% for long term i.e. 1 year, lol! It's time to quit your jobs and start a company!

 

Um, yes, that is the objective of passive income versus salaried income, in case you haven't figured it out. It's not like the government is trying to hide this as a secret handshake of some sort. Long term cap gains treatment has always been around, and isn't it obvious that given that if you could make and extra say $100k on a W-2, or be given $100k in stock, you would pick the later versus the former? You've heard of the term financial independence…It means being able to live off of passive income and "not having to work (IE earn a salary)."

That's why every dollar you spend from your W-2 on "bling" that you don't need is one less dollar that you can use to work for you in moving in that direction and why that $2000-$3000 plasma really costs a hell of a lot more than what you actually paid for.

 

That's why I say you reach a point in your salaried comp when really when you boss says, I'll give you between a 5-10% raise (or you don't get one), it doesn't really make one iota of difference after taxes (though your ego might be bruised a bit).

It's not just from long term cap gains on stocks. What about the $250k/$500k earnings exemption from selling a primary home? I suppose we should get rid of that too. What about rental exchanges and favorable tax treatments from that. I guess we should get rid of that too. The list goes on and on.

You forget also that rich folks like buffet already end up paying 80-90% of the taxes in the system, and a good portion of the population pay 0 taxes and even get a credit.

 

[Coronita]

Yea, that's part of the Bush tax cuts, too. If you haven't realize that :P. The capital gain is set to flat 15% for long term i.e. 1 year, lol! It's time to quit your jobs and start a company!

 

Um, yes, that is the objective of passive income versus salaried income, in case you haven't figured it out. It's not like the government is trying to hide this as a secret handshake of some sort. Long term cap gains treatment has always been around, and isn't it obvious that given that if you could make and extra say $100k on a W-2, or be given $100k in stock, you would pick the later versus the former? You've heard of the term financial independence…It means being able to live off of passive income and "not having to work (IE earn a salary)."

That's why every dollar you spend from your W-2 on "bling" that you don't need is one less dollar that you can use to work for you in moving in that direction and why that $2000-$3000 plasma really costs a hell of a lot more than what you actually paid for.

 

That's why I say you reach a point in your salaried comp when really when you boss says, I'll give you between a 5-10% raise (or you don't get one), it doesn't really make one iota of difference after taxes (though your ego might be bruised a bit).

It's not just from long term cap gains on stocks. What about the $250k/$500k earnings exemption from selling a primary home? I suppose we should get rid of that too. What about rental exchanges and favorable tax treatments from that. I guess we should get rid of that too. The list goes on and on.

You forget also that rich folks like buffet already end up paying 80-90% of the taxes in the system, and a good portion of the population pay 0 taxes and even get a credit.

 

[Coronita]

Yea, that's part of the Bush tax cuts, too. If you haven't realize that :P. The capital gain is set to flat 15% for long term i.e. 1 year, lol! It's time to quit your jobs and start a company!

 

Um, yes, that is the objective of passive income versus salaried income, in case you haven't figured it out. It's not like the government is trying to hide this as a secret handshake of some sort. Long term cap gains treatment has always been around, and isn't it obvious that given that if you could make and extra say $100k on a W-2, or be given $100k in stock, you would pick the later versus the former? You've heard of the term financial independence…It means being able to live off of passive income and "not having to work (IE earn a salary)."

That's why every dollar you spend from your W-2 on "bling" that you don't need is one less dollar that you can use to work for you in moving in that direction and why that $2000-$3000 plasma really costs a hell of a lot more than what you actually paid for.

 

That's why I say you reach a point in your salaried comp when really when you boss says, I'll give you between a 5-10% raise (or you don't get one), it doesn't really make one iota of difference after taxes (though your ego might be bruised a bit).

It's not just from long term cap gains on stocks. What about the $250k/$500k earnings exemption from selling a primary home? I suppose we should get rid of that too. What about rental exchanges and favorable tax treatments from that. I guess we should get rid of that too. The list goes on and on.

You forget also that rich folks like buffet already end up paying 80-90% of the taxes in the system, and a good portion of the population pay 0 taxes and even get a credit.

 

[TheBreeze]

So now you’re shifting the argument to capital gain instead? Like FLU said, that’s the way the system work for a very long time. Either find way to succeed with the system or find another system that’ll make you more happy.

The capital gains tax rate is a big loophole that needs to be fixed immediately. Then we can work on increasing the rates on those in the upper income brackets.

And there’s no need for me to find another system. All I need to do is wait for Obama to get elected. With a Democratic majority in Congress and Obama as President, I think the tax system will get changed a might quickly.

After Obama ends the war and increases taxes, we can go back to being a nation that pays its bills as it goes as opposed to taking on mountainous debt.

You guys have seen what happens in the housing market when there is too much debt. Why would you want the same thing for the entire country? Don’t you want the U.S. to be a nation that pays its bills?

[TheBreeze]

So now you’re shifting the argument to capital gain instead? Like FLU said, that’s the way the system work for a very long time. Either find way to succeed with the system or find another system that’ll make you more happy.

The capital gains tax rate is a big loophole that needs to be fixed immediately. Then we can work on increasing the rates on those in the upper income brackets.

And there’s no need for me to find another system. All I need to do is wait for Obama to get elected. With a Democratic majority in Congress and Obama as President, I think the tax system will get changed a might quickly.

After Obama ends the war and increases taxes, we can go back to being a nation that pays its bills as it goes as opposed to taking on mountainous debt.

You guys have seen what happens in the housing market when there is too much debt. Why would you want the same thing for the entire country? Don’t you want the U.S. to be a nation that pays its bills?

[TheBreeze]

So now you’re shifting the argument to capital gain instead? Like FLU said, that’s the way the system work for a very long time. Either find way to succeed with the system or find another system that’ll make you more happy.

The capital gains tax rate is a big loophole that needs to be fixed immediately. Then we can work on increasing the rates on those in the upper income brackets.

And there’s no need for me to find another system. All I need to do is wait for Obama to get elected. With a Democratic majority in Congress and Obama as President, I think the tax system will get changed a might quickly.

After Obama ends the war and increases taxes, we can go back to being a nation that pays its bills as it goes as opposed to taking on mountainous debt.

You guys have seen what happens in the housing market when there is too much debt. Why would you want the same thing for the entire country? Don’t you want the U.S. to be a nation that pays its bills?

[TheBreeze]

So now you’re shifting the argument to capital gain instead? Like FLU said, that’s the way the system work for a very long time. Either find way to succeed with the system or find another system that’ll make you more happy.

The capital gains tax rate is a big loophole that needs to be fixed immediately. Then we can work on increasing the rates on those in the upper income brackets.

And there’s no need for me to find another system. All I need to do is wait for Obama to get elected. With a Democratic majority in Congress and Obama as President, I think the tax system will get changed a might quickly.

After Obama ends the war and increases taxes, we can go back to being a nation that pays its bills as it goes as opposed to taking on mountainous debt.

You guys have seen what happens in the housing market when there is too much debt. Why would you want the same thing for the entire country? Don’t you want the U.S. to be a nation that pays its bills?

[Author]

Posts