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BigV · 09-21-2011, 01:22 PM

Here's more about why I think it's a poor argument.

"more taxes" what the hell equals more taxes? More dollars? Higher percentage? This vagueness in the language lets everybody claim greater victimhood.

"millionaire" What constitutes a millionaire? AGI? (by the way, that's adjusted gross income) By the time we're adjusting it, it's not really income anymore is it?

and this is the biggest SNAFU of all : Income.

You definitely hit this one on the head in the last point you made, full props, yo.

A secretary is likely making the money they live on, what you and I in ordinary language would call "income" from her wages or salary. I can't say from personal experience, (dammit), but I bet the vast majority of folks who make the money they live on that is in the seven figure range is NOT making that money, from wages (srsly? 1,000,000 / 2080 = $480/hr. not happening) could be salary, sure. But someone that "valuable" would negotiate hard to have that compensation categorized as something else that is less vulnerable to taxation than mere "salary". We will have a discussion on "carried interest" in a little while.

You rightly point out that inbound cash flow that is called "capital gains" has an entirely different tax structure. You rightly point out that the inbound cash flow that is called "dividend income" is taxed at a different rate. The capital gains one seems unfair, artificial. If I buy a __________ for 100 dollars and later I sell the same __________ for 150 dollars, the difference is 50 dollars. why does it matter what the __________ is that generated the net 50 dollars? Be assured, it does matter, as does the length of time between the first purchase and the subsequent sale. Why? The plain answer is that by our laws, we've decided to give preferential treatment to some kinds of transactions. Why we decided to do this and what we were told was the justification for this decision is a matter for a whole other thread, or board, or national shouting match about "class warfare". It is UNDENIABLE that there are differences, and the OVERWHELMING trend of these differences is to be more favorable to folks with more money than folks with less money. This same thing is true about the concept of "deductions". One man's deduction is another man's loophole.

We haven't even begun a discussion about deductions. I'm gonna need more beer first though.

Alright. enough for now.

09-21-2011, 01:22 PM	#8
BigV Goon Squad Leader Join Date: Nov 2004 Location: Seattle Posts: 27,063	Here's more about why I think it's a poor argument. "more taxes" what the hell equals more taxes? More dollars? Higher percentage? This vagueness in the language lets everybody claim greater victimhood. "millionaire" What constitutes a millionaire? AGI? (by the way, that's adjusted gross income) By the time we're adjusting it, it's not really income anymore is it? and this is the biggest SNAFU of all : Income. You definitely hit this one on the head in the last point you made, full props, yo. A secretary is likely making the money they live on, what you and I in ordinary language would call "income" from her wages or salary. I can't say from personal experience, (dammit), but I bet the vast majority of folks who make the money they live on that is in the seven figure range is NOT making that money, from wages (srsly? 1,000,000 / 2080 = $480/hr. not happening) could be salary, sure. But someone that "valuable" would negotiate hard to have that compensation categorized as something else that is less vulnerable to taxation than mere "salary". We will have a discussion on "carried interest" in a little while. You rightly point out that inbound cash flow that is called "capital gains" has an entirely different tax structure. You rightly point out that the inbound cash flow that is called "dividend income" is taxed at a different rate. The capital gains one seems unfair, artificial. If I buy a __________ for 100 dollars and later I sell the same __________ for 150 dollars, the difference is 50 dollars. why does it matter what the __________ is that generated the net 50 dollars? Be assured, it does matter, as does the length of time between the first purchase and the subsequent sale. Why? The plain answer is that by our laws, we've decided to give preferential treatment to some kinds of transactions. Why we decided to do this and what we were told was the justification for this decision is a matter for a whole other thread, or board, or national shouting match about "class warfare". It is UNDENIABLE that there are differences, and the OVERWHELMING trend of these differences is to be more favorable to folks with more money than folks with less money. This same thing is true about the concept of "deductions". One man's deduction is another man's loophole. We haven't even begun a discussion about deductions. I'm gonna need more beer first though. Alright. enough for now. __________________ Be Just and Fear Not.