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eniwetok

(1,629 posts) Sat Dec 24, 2016, 01:24 PM Dec 2016

The Insanity Of Capital Gains Tax Breaks... [View all]

Those making their money off capital gains live the life of Riley. All this income is exempt from payroll taxes which support the OASI and DI safety net... and if they are in the top income tax bracket, the tax rate is about half that of their "earned" income. As a tax expenditure, the CBO calculates that 90% of the tax breaks (I assume the income tax, not OASI DI) go to the top 10% and a full 70% go to the top 1%... which means other people pay more... or we steal from future taxpayers, to make up the difference.

33 replies

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The Insanity Of Capital Gains Tax Breaks... [View all] eniwetok Dec 2016 OP

There are those of us who have capital gains radical noodle Dec 2016 #1

I have no problem with... eniwetok Dec 2016 #2

I absolutely agree with you n/t radical noodle Dec 2016 #8

Contrary Abouttime Dec 2016 #19

Why? radical noodle Dec 2016 #21

above what level? Grey Lemercier Dec 2016 #29

Of course the other side of capital gains are losses that while somewhat deductible still cost Hoyt Dec 2016 #3

you might want to flesh your argument out... eniwetok Dec 2016 #4

I'm talking about investing most of the money you have into something that goes south. You might be Hoyt Dec 2016 #5

what do loses have to do with income? eniwetok Dec 2016 #6

I get they can be separated -- if you gain, we want most of the money. If you lose, you should have Hoyt Dec 2016 #10

you're totally losing me.... eniwetok Dec 2016 #30

I'm not talking about speculating in commodities, I'm talking about investing in a small business Hoyt Dec 2016 #31

The rationale is that much of long-term capital gains are actually just the effects of inflation. dawg Dec 2016 #7

since when is earned income given such a break? eniwetok Dec 2016 #9

The income tax brackets and exemptions are adjusted for inflation each year. dawg Dec 2016 #14

oh shit... eniwetok Dec 2016 #17

The capital gains tax rate should be progressive and tied to personal wealth. libtodeath Dec 2016 #11

It is tied to income, with 0, 15, and 20% brackets FarCenter Dec 2016 #12

Thanks for the link. It was good for me 2/3 of the way down and Jim Beard Dec 2016 #23

The theory is that risk is invoved, and taxation as income would... TreasonousBastard Dec 2016 #13

Minor point, but lottery winnings are state tax free in only 8 states A HERETIC I AM Dec 2016 #25

Gift taxes really dont exist for most people Johnathan146 Dec 2016 #26

Your assumptions are not completely correct csziggy Dec 2016 #15

OK... but what are you saying... eniwetok Dec 2016 #16

I'm saying that capital gains is a much ore complicated subject than just financial investments csziggy Dec 2016 #18

pretty sad thread hfojvt Dec 2016 #20

I already pay taxes on my capital gains radical noodle Dec 2016 #22

no, it is pathetic that we can apparently be bought hfojvt Dec 2016 #28

you're conflating... eniwetok Dec 2016 #32

Here's the thing radical noodle Dec 2016 #33

Most of the things discussed here are mostly for retirement. Jim Beard Dec 2016 #24

retirement investments are already tax sheltered hfojvt Dec 2016 #27