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The Accurate Reloading Forums THE ACCURATE RELOADING.COM FORUMS Guns, Politics, Gunsmithing & Reloading The Political Forum Reality check on the right-wing panic over a proposed unrealized capital gains taxGo | New | Find | Notify | Tools | Reply | |
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IRS recovers $1.3 billion... on a 2 trillion deficit spend for 2024... The improvement math looks like this 1.3/2,0000 https://abcnews.go.com/Politic...igh-wealth-113457962 There is an old joke about what's the difference between 1 million and 1 billion? About a billion ... What's the difference between 1.3 billion and 2 trillion? About 2 trillion In a person amount.. you are over spending by $200 and decide to increase your income... so you cut a penny into 10 parts, and try to deposit one of those parts to offset spend.... Do that 10 times and you get a whole penny off the 200 spend opinions vary band of bubbas and STC hunting Club Information on Ammoguide about the416AR, 458AR, 470AR, 500AR What is an AR round? Case Drawings 416-458-470AR and 500AR. 476AR, http://www.weaponsmith.com | |||
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Mark Cuban says this is a stupid idea https://www.foxbusiness.com/me...ris-wont-actually-do opinions vary band of bubbas and STC hunting Club Information on Ammoguide about the416AR, 458AR, 470AR, 500AR What is an AR round? Case Drawings 416-458-470AR and 500AR. 476AR, http://www.weaponsmith.com | |||
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| One of Us |
Anyone with any sense realizes what a disaster this plan would be.....that of course excludes naki......he has no sanse....just an over inflated , very racist chip on his shoulder..... | |||
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| One of Us |
Seems we all agree on one thing. The majority of voters are complete morons. Where we disagree is that I think any voter who votes Democrat proves the point. | |||
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One of Us |
Exactly! If it weren’t for idiots…the Democratic Party wouldn’t exist! We see it here daily. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ J. Lane Easter, DVM A born Texan has instilled in his system a mind-set of no retreat or no surrender. I wish everyone the world over had the dominating spirit that motivates Texans.– Billy Clayton, Speaker of the Texas House No state commands such fierce pride and loyalty. Lesser mortals are pitied for their misfortune in not being born in Texas.— Queen Elizabeth II on her visit to Texas in May, 1991. | |||
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| One of Us |
Some people feel that supporting a lying, cheating, philandering fraud that tried to steal the last election is the idiotic position to take. Go figure? | |||
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| One of Us |
Donald Trump has skated away from consequences for his bad behavior most of his life. But his day of reckoning for insurrection, stealing classified documents, and other crimes is coming. In a few years, you'll be ashamed of voting for Trump. If you have voted for him three times, you'll really hang your head. | |||
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| One of Us |
Bill Gates on why he should have paid 10's of billions more in taxes: https://www.msn.com/en-us/mone...53364d877bb8a4&ei=18 | |||
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One of Us |
Just imagine how many trillions are due from other tax cheats. Read this https://abcnews.go.com/Busines...igh-wealth-113457963
"When the wind stops....start rowing. When the wind starts, get the sail up quick." | |||
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| One of Us |
And what is stopping him from doing it now? | |||
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| One of Us |
The law as demanded by Republicans. He and his accountants just file the returns as per law. If the Republicans stopped giving tax cuts to the rich, the US will have good health care, education and other social benefits like parts of Western Europe. More White collar criminals will be in prison.
"When the wind stops....start rowing. When the wind starts, get the sail up quick." | |||
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| One of Us |
Please read the post. 1. The law 2. The tax returns Change the law and the tax returns, and he will willingly pay. That means all the criminal oligarch Republican tax dodgers will also have to pay. Simple.
"When the wind stops....start rowing. When the wind starts, get the sail up quick." | |||
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| One of Us |
How do suggest that bring the deficit under control? We are not going to save our way out of this mess. I suggest reduced spending combined with increased revenue(taxes, and not JUST the rich). Trump's tariffs instead of income tax idea is about the stupidest shit to come of his mouth I have ever heard, and that is saying something. | |||
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| One of Us |
If that ever happens you'd best be selling your asset/s for a profit and pay the prevailing CG rate which will likely be lower. Give me a home where the buffalo roam and I'll show you a house full of buffalo shit. | |||
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| Moderator |
Hmm, the silence is becoming deafening opinions vary band of bubbas and STC hunting Club Information on Ammoguide about the416AR, 458AR, 470AR, 500AR What is an AR round? Case Drawings 416-458-470AR and 500AR. 476AR, http://www.weaponsmith.com | |||
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| Moderator |
"trillions" ... oh, thank goodness you don't have the right to vote here . i am going to use some math here, so if you need to stroke out or just start insulting me, go right ahead the US UDP in 2023 was ~27T and a bit... heck, let's round UP to 28T GDP link a HEALTHY average net profit is 8.54% profit link the CURRENT corporate tax rate is 21% tax rate link ( i am going to round UP to nearest, overstating in the possibility) 28t* 8.54% =<2.4T in profit 2.4 T in profit @ 21% corporate income tax TODAY means 0.5T in federal revenue IF WE DOUBLED that, it would get to ONE trillion in revenue ... 1 trillion is less than, naki's stated number, of MANY trillions ... so, cool, we double corporate taxes and get 1/2 a trillion more, off a 2T deficit - so, even with DOUBLE corporate taxes, we get to 1.5 trillion in deficit spending okay, okay, okay, i get it .. he didn't MEAN corporate taxes, he meant eat the rich ... okay, by naki's own link, on a secondary source, says the 1% pay 48% of income taxes (that's laughably low, but let's go with the commie data source) then of the 4 trillion in TOTAL federal revenue (including corp tax above) about HALF of that was from individual income tax ... or $2T federal incomes link okay 2 trillion, of which naki stipulates that 1/2 of that is the 1% -- so, 1trillion -- COULD .. let's assume we also DOUBLE the taxes on the 1% ... taking us to 2 trillion ... an increase of 1 trillion taking double the corporate tax and doubling the tax on the 1%, we get to 1.5 trillion hardly the "many trillions" in naki's imagination ... leaving us with a crippled economy AND still 1/2 a trillion in deficit spend..... hmmm, i am beginning to think our "Guru of America" hasn't ever had to file US taxes .... DOUBLING the taxes on the rich don't clear the problem .. even after ruining the economy for future investments .... dang, it's almost like we have a SPENDING problem opinions vary band of bubbas and STC hunting Club Information on Ammoguide about the416AR, 458AR, 470AR, 500AR What is an AR round? Case Drawings 416-458-470AR and 500AR. 476AR, http://www.weaponsmith.com | |||
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| One of Us |
You know the old saying Jeffe. A trillion here, a trillion there, pretty soon you are talking about real money.  | |||
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| One of Us |
Bill, Warren, and all the gang are free to pay in all they want now? Why aren’t they!? I tell you why…it is all lip service. You don’t get your rate down to 15% without diligence — I can tell you from experience. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ J. Lane Easter, DVM A born Texan has instilled in his system a mind-set of no retreat or no surrender. I wish everyone the world over had the dominating spirit that motivates Texans.– Billy Clayton, Speaker of the Texas House No state commands such fierce pride and loyalty. Lesser mortals are pitied for their misfortune in not being born in Texas.— Queen Elizabeth II on her visit to Texas in May, 1991. | |||
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| One of Us |
That is where the problem is, you have identified it perfectly, the wealthy should not be able to pay 15% on the income they make when joe average pays a higher rate. | |||
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| One of Us |
My rate is a lot more than 15 percent. I agree with Steve. It is not about destroying wealth. It is about everyone pulling in the same direction to fund of General Government and our national commitment. I hope this policy becomes law. I will vote to see it so. | |||
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| Moderator |
Yall do know there is a way to contribute MORE than your legally required taxes, right? Just send a papercheck to a certain department and pay all you want. Doesn't count as a prepayment either, so no nasty guilt over using it as a tax credit next year... Yeah, no one uses it, not even these social justice warriors. But it's there if your money or their's is just burning a hole in your pocket. Literally no one uses it.. which is telling opinions vary band of bubbas and STC hunting Club Information on Ammoguide about the416AR, 458AR, 470AR, 500AR What is an AR round? Case Drawings 416-458-470AR and 500AR. 476AR, http://www.weaponsmith.com | |||
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| One of Us |
I am still not sure how that makes it right for billionaires to pay a lower rate of tax than the average Joe? Could you explain? I'm sure it is obvious but I'm just missing it. | |||
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| Moderator |
Billionaire complaining about not be required to pay more CAN pay more, but doesn't want to volunteer. Good old farmer bill. Largest individual landowner in the country.. strange, ain't it? opinions vary band of bubbas and STC hunting Club Information on Ammoguide about the416AR, 458AR, 470AR, 500AR What is an AR round? Case Drawings 416-458-470AR and 500AR. 476AR, http://www.weaponsmith.com | |||
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| One of Us |
The strange thing to me is folks defending billionaires paying a lower rate of taxes than they do. Boggles the mind if you ask me. To me, it has nothing to do with the fact that they CAN pay more and don't, it has everything to do with that they should be required to pay more and are not. The rules need to change so that they are no longer favoring the most wealthy in our country. | |||
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| One of Us |
So lower the rates and get rid of the loopholes…. Not hard. If the top 1% are paying 50% of the taxes, getting rid of loopholes and lowering the rate works. The idea is to get everyone contributing the same percentage. Do that and the rich (read folks who are paid other than salary) will be paying way more, and us wage slaves pay less. It would incentivize wages and reduce the games that get paid. Gates could have all farm subsidies removed and then what does he do? Sell a lot of land. | |||
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| One of Us |
Outstanding Jeff! Funny how math just works! Must be why its racist  So if we murder all the rich people and take all of their money without cutting ridiculous spending we are still in debt and sinking! Naki doesn't care as long as those evil rich American people lose everything because most all of them are of western European descent! And his inferiority complex and inferiority in general allows him to blame his lack of intellectual and ambition on them so they mist be EVIL!!!! | |||
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| One of Us |
Doc You have lost perspective again. If everyone pays same rate of tax, it does not matter what percentage of tax revenue they contribute. Everyone is paying a fair share of tax. At the moment the rich pay a lower rate, get to keep more,get to reinvest at a lower tax rate and exponentially keep increasing their wealth. That is criminal oligarchy.
"When the wind stops....start rowing. When the wind starts, get the sail up quick." | |||
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| One of Us |
Here is some math for you. In 1980 the top tax rate was 70% and our deficit was 74 billion, we have cut the top tax rate by nearly 50% to 37% and our deficit has ballooned to 34 trillion. We need more revenue and not from just the wealthy. | |||
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| One of Us |
Because all forms of income are not created equal and some form need to be incentivized for the overall health of the economy. Personal savings for retirement for instance should be incentivized. Lower capital gains rates does that. Some people are just more savvy at getting it done to where they can live on the profits of their invested savings. I see nothing wrong with that. Why would we not want incentivize that behavior? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ J. Lane Easter, DVM A born Texan has instilled in his system a mind-set of no retreat or no surrender. I wish everyone the world over had the dominating spirit that motivates Texans.– Billy Clayton, Speaker of the Texas House No state commands such fierce pride and loyalty. Lesser mortals are pitied for their misfortune in not being born in Texas.— Queen Elizabeth II on her visit to Texas in May, 1991. | |||
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| One of Us |
Why would we not want incentivize that behavior?[/QUOTE] Because we are 34 trillion in debt and our interest payments now exceed our defense budget. We need more revenue, the wealthy should not be able to use tax shelters to pay a lower rate of income tax than your average working stiff pays. | |||
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| One of Us |
Democrats Over Spending caused this. NOT TAXES | |||
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| One of Us |
Rubbish, both parties over spent, Trump ran record setting deficits BEFORE covid. We need more revenue. | |||
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| Moderator |
https://finance.yahoo.com/news...arris-102200842.html "Unmitigated disaster " opinions vary band of bubbas and STC hunting Club Information on Ammoguide about the416AR, 458AR, 470AR, 500AR What is an AR round? Case Drawings 416-458-470AR and 500AR. 476AR, http://www.weaponsmith.com | |||
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| Moderator |
https://www.irs.gov/pub/irs-soi/80inintrpd.pdf Sigh.. in 1980 the total revenue was about 284 billion. You cant compare 1980 with 2024 without adjustments.. percentages are the easiest way. In finance, 1980 was the baseline.. the phrase " in 1980 dollars" was all the rage Let's take the real number's.. 284+74=358... billion, not trillion Yall do understand that a trillion is 1,000 billion, right? Federal revenue was about 4 t last year... about 1,200 times more than 1980 opinions vary band of bubbas and STC hunting Club Information on Ammoguide about the416AR, 458AR, 470AR, 500AR What is an AR round? Case Drawings 416-458-470AR and 500AR. 476AR, http://www.weaponsmith.com | |||
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| One of Us |
And I believe this one https://finance.yahoo.com/news...mends-114500817.html https://fortune.com/2024/08/15...ncome-national-debt/ Assuming Vice President Harris’s billionaire minimum tax and stock buyback tax plans are similar to the proposals in President Biden’s FY 2025 budget, we estimate that her plan to increase taxes on capital income would raise roughly $750 billion over a decade as written, or $900 billion if they include President Biden’s proposal to tax capital gains at death before allowing for stepped up basis. https://www.crfb.org/blogs/kam...axing-capital-income The main component I would change is to make sure foreign investors are also taxed with a failure to pay resulting in assets seized. | |||
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| Moderator |
You recall that these projections are over a decade, not per year So, 900/10.. 90 billion a year.. Less than 1% of current year DEFICIT opinions vary band of bubbas and STC hunting Club Information on Ammoguide about the416AR, 458AR, 470AR, 500AR What is an AR round? Case Drawings 416-458-470AR and 500AR. 476AR, http://www.weaponsmith.com | |||
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| One of Us |
There is only so many wedges in the pie. 15% on capital gains incentives people to have good economic habits. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ J. Lane Easter, DVM A born Texan has instilled in his system a mind-set of no retreat or no surrender. I wish everyone the world over had the dominating spirit that motivates Texans.– Billy Clayton, Speaker of the Texas House No state commands such fierce pride and loyalty. Lesser mortals are pitied for their misfortune in not being born in Texas.— Queen Elizabeth II on her visit to Texas in May, 1991. | |||
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| One of Us |
These guys went to law school for a reason…they are not math majors. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ J. Lane Easter, DVM A born Texan has instilled in his system a mind-set of no retreat or no surrender. I wish everyone the world over had the dominating spirit that motivates Texans.– Billy Clayton, Speaker of the Texas House No state commands such fierce pride and loyalty. Lesser mortals are pitied for their misfortune in not being born in Texas.— Queen Elizabeth II on her visit to Texas in May, 1991. | |||
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| One of Us |
And contributes to our huge and unmanageable federal deficit. We need to change what we are doing and it is going hurt, that is reality. Spending needs to be reduced, and taxes need to rise. Trump is proposing tariffs to solve our problems which pushes the burden even more on to those who struggle. | |||
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The Accurate Reloading Forums THE ACCURATE RELOADING.COM FORUMS Guns, Politics, Gunsmithing & Reloading The Political Forum Reality check on the right-wing panic over a proposed unrealized capital gains tax
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