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Jazzman.
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July 23, 2009 at 1:34 PM #436588July 23, 2009 at 1:57 PM #435835
an
Participant[quote=patb][quote=JustLurking][quote=SK in CV]Karl Rove is a liar.
[quote=Zeitgeist]
“Ways and Means Committee Chairman Charlie Rangel says he’ll pay for the Obama health proposal by raising taxes on Americans making $280,000 a year ($350,000 for couples). Most of those stuck with higher taxes will be small business owners. [/quote]Most small business owners don’t earn $280,000 to $350,000 or more. Not even close to most. [/quote]
SK – the quote does not say that most small business owners make more than $280k. It says that most people making more than $280k are small business owners. That is an entirely different thing. I have no idea if it is true, but it is plausible. People who make good money often work for themselves and not someone else.[/quote]
actually it depends upon how you categorize the income.
Most the wealthy earn off of capital gains so, they pay 18% and won’t
be subject to any of these taxes. Seniour corporate managers get their
incentive payments in the form of stock grants so they pay as capital gains
it’s far fewer who earn high incomes through w-2 or 1099.[/quote]
This is what he said:
[quote=Charlie Rangel]Most of those stuck with higher taxes will be small business owners. [/quote]
As you stated, most real wealthy people get their income passively, so, they won’t be affected by this. If they’re really trying to tax the wealthy people, they won’t tax it based on income, but on net worth instead. You can’t hide net worth.July 23, 2009 at 1:57 PM #436042Participant[quote=patb][quote=JustLurking][quote=SK in CV]Karl Rove is a liar.
[quote=Zeitgeist]
“Ways and Means Committee Chairman Charlie Rangel says he’ll pay for the Obama health proposal by raising taxes on Americans making $280,000 a year ($350,000 for couples). Most of those stuck with higher taxes will be small business owners. [/quote]Most small business owners don’t earn $280,000 to $350,000 or more. Not even close to most. [/quote]
SK – the quote does not say that most small business owners make more than $280k. It says that most people making more than $280k are small business owners. That is an entirely different thing. I have no idea if it is true, but it is plausible. People who make good money often work for themselves and not someone else.[/quote]
actually it depends upon how you categorize the income.
Most the wealthy earn off of capital gains so, they pay 18% and won’t
be subject to any of these taxes. Seniour corporate managers get their
incentive payments in the form of stock grants so they pay as capital gains
it’s far fewer who earn high incomes through w-2 or 1099.[/quote]
This is what he said:
[quote=Charlie Rangel]Most of those stuck with higher taxes will be small business owners. [/quote]
As you stated, most real wealthy people get their income passively, so, they won’t be affected by this. If they’re really trying to tax the wealthy people, they won’t tax it based on income, but on net worth instead. You can’t hide net worth.July 23, 2009 at 1:57 PM #436361Participant[quote=patb][quote=JustLurking][quote=SK in CV]Karl Rove is a liar.
[quote=Zeitgeist]
“Ways and Means Committee Chairman Charlie Rangel says he’ll pay for the Obama health proposal by raising taxes on Americans making $280,000 a year ($350,000 for couples). Most of those stuck with higher taxes will be small business owners. [/quote]Most small business owners don’t earn $280,000 to $350,000 or more. Not even close to most. [/quote]
SK – the quote does not say that most small business owners make more than $280k. It says that most people making more than $280k are small business owners. That is an entirely different thing. I have no idea if it is true, but it is plausible. People who make good money often work for themselves and not someone else.[/quote]
actually it depends upon how you categorize the income.
Most the wealthy earn off of capital gains so, they pay 18% and won’t
be subject to any of these taxes. Seniour corporate managers get their
incentive payments in the form of stock grants so they pay as capital gains
it’s far fewer who earn high incomes through w-2 or 1099.[/quote]
This is what he said:
[quote=Charlie Rangel]Most of those stuck with higher taxes will be small business owners. [/quote]
As you stated, most real wealthy people get their income passively, so, they won’t be affected by this. If they’re really trying to tax the wealthy people, they won’t tax it based on income, but on net worth instead. You can’t hide net worth.July 23, 2009 at 1:57 PM #436435Participant[quote=patb][quote=JustLurking][quote=SK in CV]Karl Rove is a liar.
[quote=Zeitgeist]
“Ways and Means Committee Chairman Charlie Rangel says he’ll pay for the Obama health proposal by raising taxes on Americans making $280,000 a year ($350,000 for couples). Most of those stuck with higher taxes will be small business owners. [/quote]Most small business owners don’t earn $280,000 to $350,000 or more. Not even close to most. [/quote]
SK – the quote does not say that most small business owners make more than $280k. It says that most people making more than $280k are small business owners. That is an entirely different thing. I have no idea if it is true, but it is plausible. People who make good money often work for themselves and not someone else.[/quote]
actually it depends upon how you categorize the income.
Most the wealthy earn off of capital gains so, they pay 18% and won’t
be subject to any of these taxes. Seniour corporate managers get their
incentive payments in the form of stock grants so they pay as capital gains
it’s far fewer who earn high incomes through w-2 or 1099.[/quote]
This is what he said:
[quote=Charlie Rangel]Most of those stuck with higher taxes will be small business owners. [/quote]
As you stated, most real wealthy people get their income passively, so, they won’t be affected by this. If they’re really trying to tax the wealthy people, they won’t tax it based on income, but on net worth instead. You can’t hide net worth.July 23, 2009 at 1:57 PM #436603Participant[quote=patb][quote=JustLurking][quote=SK in CV]Karl Rove is a liar.
[quote=Zeitgeist]
“Ways and Means Committee Chairman Charlie Rangel says he’ll pay for the Obama health proposal by raising taxes on Americans making $280,000 a year ($350,000 for couples). Most of those stuck with higher taxes will be small business owners. [/quote]Most small business owners don’t earn $280,000 to $350,000 or more. Not even close to most. [/quote]
SK – the quote does not say that most small business owners make more than $280k. It says that most people making more than $280k are small business owners. That is an entirely different thing. I have no idea if it is true, but it is plausible. People who make good money often work for themselves and not someone else.[/quote]
actually it depends upon how you categorize the income.
Most the wealthy earn off of capital gains so, they pay 18% and won’t
be subject to any of these taxes. Seniour corporate managers get their
incentive payments in the form of stock grants so they pay as capital gains
it’s far fewer who earn high incomes through w-2 or 1099.[/quote]
This is what he said:
[quote=Charlie Rangel]Most of those stuck with higher taxes will be small business owners. [/quote]
As you stated, most real wealthy people get their income passively, so, they won’t be affected by this. If they’re really trying to tax the wealthy people, they won’t tax it based on income, but on net worth instead. You can’t hide net worth.July 23, 2009 at 2:50 PM #4358454plexowner
Participant“You can’t hide net worth”
$1 mil in gold fits in a shoebox
July 23, 2009 at 2:50 PM #436052Participant“You can’t hide net worth”
$1 mil in gold fits in a shoebox
July 23, 2009 at 2:50 PM #436371Participant“You can’t hide net worth”
$1 mil in gold fits in a shoebox
July 23, 2009 at 2:50 PM #436445Participant“You can’t hide net worth”
$1 mil in gold fits in a shoebox
July 23, 2009 at 2:50 PM #436613Participant“You can’t hide net worth”
$1 mil in gold fits in a shoebox
July 23, 2009 at 2:52 PM #435850SK in CV
Participant[quote=AN]As you stated, most real wealthy people get their income passively, so, they won’t be affected by this. If they’re really trying to tax the wealthy people, they won’t tax it based on income, but on net worth instead. You can’t hide net worth.[/quote]
Passive income is taxed at the highest rates, as are wages, interest, taxable retirement plan distributions and net business income (among others). Additionally, I believe (I could be making this part up, but I don’t think so.) this surtax is based on AGI, not taxable income, so it would be on all income including capital gains.
July 23, 2009 at 2:52 PM #436057Participant[quote=AN]As you stated, most real wealthy people get their income passively, so, they won’t be affected by this. If they’re really trying to tax the wealthy people, they won’t tax it based on income, but on net worth instead. You can’t hide net worth.[/quote]
Passive income is taxed at the highest rates, as are wages, interest, taxable retirement plan distributions and net business income (among others). Additionally, I believe (I could be making this part up, but I don’t think so.) this surtax is based on AGI, not taxable income, so it would be on all income including capital gains.
July 23, 2009 at 2:52 PM #436376Participant[quote=AN]As you stated, most real wealthy people get their income passively, so, they won’t be affected by this. If they’re really trying to tax the wealthy people, they won’t tax it based on income, but on net worth instead. You can’t hide net worth.[/quote]
Passive income is taxed at the highest rates, as are wages, interest, taxable retirement plan distributions and net business income (among others). Additionally, I believe (I could be making this part up, but I don’t think so.) this surtax is based on AGI, not taxable income, so it would be on all income including capital gains.
July 23, 2009 at 2:52 PM #436450Participant[quote=AN]As you stated, most real wealthy people get their income passively, so, they won’t be affected by this. If they’re really trying to tax the wealthy people, they won’t tax it based on income, but on net worth instead. You can’t hide net worth.[/quote]
Passive income is taxed at the highest rates, as are wages, interest, taxable retirement plan distributions and net business income (among others). Additionally, I believe (I could be making this part up, but I don’t think so.) this surtax is based on AGI, not taxable income, so it would be on all income including capital gains.
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