I’m certain he’d rsther than compensate taxes upon profit, which equates to he is creation money, than write off his losses, to illustrate obscure his taxes, though murdering his bottom line! This total taxation discuss is soooo overblown!
All im observant is the taxation enlarge would demeanour similar to peanuts subsequent to losing your retirement! Also, we can write off we loses, so which unequivocally creates taxes the non-issue
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What do you say we add up all the promised increases in taxes?
35% to 39.6% (marginal rate)
15% to 28% (capital gains)
7.65% to 8% (FICA, first $108,000)
0.0% to 8% (FICA, every dollar above that)
0% to 46% (wealth transfer tax, eliminated by Bush, will be revived by Obama)
Do us all a favor and add all of that up. While you’re at it, think about all the increases in state and local taxes (such as the one currently being threatened by the governor of New York).
cuz just cuz hes making 250 a year doesnt mean hes completely rich and has 12-15% to waste
are you serious?
Because he ends up paying over 50% in federal, state and local taxes.
Republicans make everything about taxes when all else fails. They act like it’s 1775 and the King is soaking us all into oblivion, lol.
You seem to be missing the Conservatives point…The role of Government is to make rich people richer by lowering their taxes, giving their companies favorable contracts/no-bid type, raise taxes on the middle class to lower their options for finding better jobs thus keeping them locked in to their non-union jobs working for Corporations like Walmart.
The rich Elites are the backbone of this country and are to be rewarded for creating thousands of jobs…for Chinese people. It is ok to raise taxes on the Middle Income because the big boys are busy outsourcing jobs to foreign companies to bring us cheap Wal mart type crap which is the only thing Middle Class can afford when paying the costs to keep this country running.
God forbid that if a rich man makes 50 million and is taxed 50% he is left with 25 million…not nearly enough to put that new Porsche in the garage, not enough to afford to keep the Yacht fully staffed year round, not enough to still be able to take that 3 month long vacation in the Tropics…it makes them feel “poor” when they cannot frivolously spend money as though it grows on trees.
Yes…you are supposed to pity any one who makes 50 million but then has to watch as the Government takes half to fund social programs…but if the 25 million in taxes was used for wars or to bailout their banker friends, then it would be ok.