Capital gains are taxed at 20% after $38.600 IF they are qualified long-term capital gains. Unqualified long-term capital gains are taxed as ordinary income. The concept that a person pays no taxes on capital gains is a myth - it only applies in very limited cases, and for amounts above $38,600 you are paying tax on all capital gains - long or short, qualified or unqualified.
Correct. And dividends are taxed as either regular income or capital gains, meaning those with appreciable income from dividends (more than $38,600 per year) will pay at least 20% capital gains tax, if not a full 37% income tax.
The average tax load in the 50s, adjusted for inflation, was about half of what it is today. The Federal Government in the 1950s took in about the tax dollars that it does today, per capita and adjusted for inflation. Yes, the nominal tax rates were higher but exemptions and deductions were much higher as well. Effective tax rates are what matter, and we're near our historical peak in the US.
If you look at my original post from actual taxpayer data, you will see that the top 1% pay around 27% effective income tax rate; well above any other group of people (for example, the bottom 50% average around 3.5%). As far as Warren Buffet, Buffet does NOT have to take every tax deduction he is legally entitled to, and in fact he can donate even more if he would like. Additionally capital gains are taxed up to 20% rate, so not too much lower than the average income tax rate for the top 1% (who pay a typical income tax rate around 27%).
Capital gains are taxed once you break $38,600 in income - long or short term capital gains. And for many people, capital gains taxes are at a level about the same as their regular income tax rates.
For overseas income, IF you live exclusively overseas then you MAY get up to your first $97,000 in income tax-free in the US, provided you paid taxes overseas. All income above that rate is taxable in the US, regardless of where you live. So overseas income is still taxable.
And loans that are forgiven are taxable income; if you default on a secured loan and lose stock/assets because of it, then it is considered income and can be subject to income tax (exclusion for the first $500K in home value). Get a loan against $1MM in shares, and default and have to sell those shares to cover the loan? You also have to pay any capital gains taxes due on that sale.
Social Security has a flat rate for everyone up to about $128,000; everyone's income is taxed at the exact same rate to that point, no one has a "bigger bite" or a higher marginal rate to that point. Above $200K, there is a special tax (which does NOT increase a person's retirement benefits) applied to income.
And of course this all assumes we consider Social Security as a plain tax (which it is) rather than as a forced retirement program (which many like to claim it is, but in fact it is not).
So you've described what you fear is the result - but how did Bezos cause that to happen? Bilk is defined in my link - what fraud did Bezos commit in building Amazon?
Here is the actual data about taxation and the 1%; what would you change, given they are taxed at a rate over twice that of their share of income (40% of income taxes, 20% of income) and at a rate well ahead of any other group?
RTFS - " but there could still be 58 million net new jobs created in the next five years, the World Economic Forum (WEF) said in a report on Monday". That's the second half of the first sentence and you were apparently too lazy to read even that far... What, did a robot steal your job of reading?
That's an acceptable punishment. For a minute there I thought you were going to sentence someone to 90 days in the Rust world. Talk about cruel and inhumane!
2011 was Yucca Mountain, about 5 years before any issue with a Supreme Court Judge. I know it's hard for low-information Democrats to keep basic facts and timelines straight, but do please try to use the Internet somewhat to learn what happened and when. In 2011 Harry Reid was the Senate Majority Leader, meaning the Senate was held by the Democrats. After the 2014 election, Mitch McConnell and the Republicans took over.
Sure, but that's not the question. California cannot say "South Korea, because your emissions are higher, you have to pay this tariff on each vehicle, and Germany, you have to have this standard for emissions". It's equal across all - which means, punishing individual countries or companies via tariffs is essentially impossible. It's the industry as a whole or nothing.
Should be 12 minutes differential; on September 21st, solar "noon" will be at 1:05 PM in Edinburgh, and at 12:53 PM in London. So there should be a 12 minute offset, not 3.
I'd buy in if I could, but I first need to make sure you have your own ICO tied with that, because how else can you secure your AI backend unless you use blockchain?
Caltrans has plans for all kinds of things. Right now, we're seeing them focus on hundreds of billions of dollars for rail that goes, essentially, nowhere and there is zero plan or even an idea how to reach the biggest population in the State (where over half the people live). The Caltrans from Ventura to Los Angeles takes 2 hours, leaves really early in the morning only (4 departures, all before 7:45 AM), and has 3 afternoon return trips, again 2 hours, only one of which is after 5 PM (and doesn't get you to Ventura until 8:30 PM). That's over half a million people, just a 60-75 minute drive from LA, who are essentially unserved by trains.
Caltrans loves to spend 2.5 times the national average on roads - and let the road backlog continue to grow, even though it makes the most in gas tax revenues. It's not really about supporting transportation, but making work, keeping the big union funds for campaigns for those in Sacramento flowing, and feel-good measures - like 100 MPH "high speed" rail from Bakersfield to Modesto.
Slashdot Mirror
Capital gains are taxed at 20% after $38.600 IF they are qualified long-term capital gains. Unqualified long-term capital gains are taxed as ordinary income. The concept that a person pays no taxes on capital gains is a myth - it only applies in very limited cases, and for amounts above $38,600 you are paying tax on all capital gains - long or short, qualified or unqualified.
Correct. And dividends are taxed as either regular income or capital gains, meaning those with appreciable income from dividends (more than $38,600 per year) will pay at least 20% capital gains tax, if not a full 37% income tax.
The average tax load in the 50s, adjusted for inflation, was about half of what it is today. The Federal Government in the 1950s took in about the tax dollars that it does today, per capita and adjusted for inflation. Yes, the nominal tax rates were higher but exemptions and deductions were much higher as well. Effective tax rates are what matter, and we're near our historical peak in the US.
If you look at my original post from actual taxpayer data, you will see that the top 1% pay around 27% effective income tax rate; well above any other group of people (for example, the bottom 50% average around 3.5%). As far as Warren Buffet, Buffet does NOT have to take every tax deduction he is legally entitled to, and in fact he can donate even more if he would like. Additionally capital gains are taxed up to 20% rate, so not too much lower than the average income tax rate for the top 1% (who pay a typical income tax rate around 27%).
i'll need to see a citation for that...
Bezos probably paid at least 20% on those capital gains, meaning about $556 million in capital gains taxes.
Capital gains are taxed once you break $38,600 in income - long or short term capital gains. And for many people, capital gains taxes are at a level about the same as their regular income tax rates.
For overseas income, IF you live exclusively overseas then you MAY get up to your first $97,000 in income tax-free in the US, provided you paid taxes overseas. All income above that rate is taxable in the US, regardless of where you live. So overseas income is still taxable.
And loans that are forgiven are taxable income; if you default on a secured loan and lose stock/assets because of it, then it is considered income and can be subject to income tax (exclusion for the first $500K in home value). Get a loan against $1MM in shares, and default and have to sell those shares to cover the loan? You also have to pay any capital gains taxes due on that sale.
Social Security has a flat rate for everyone up to about $128,000; everyone's income is taxed at the exact same rate to that point, no one has a "bigger bite" or a higher marginal rate to that point. Above $200K, there is a special tax (which does NOT increase a person's retirement benefits) applied to income.
And of course this all assumes we consider Social Security as a plain tax (which it is) rather than as a forced retirement program (which many like to claim it is, but in fact it is not).
So you've described what you fear is the result - but how did Bezos cause that to happen? Bilk is defined in my link - what fraud did Bezos commit in building Amazon?
So those are features available only to Bezos and Amazon, they don't apply to all businesses and/or individuals?
The "crash WebKit and force an OS reset with CSS code" feature discussed here.
How did Jeff Bezos bilk "millions of normal folks for their hard earned $$'s"? I'm curious how he conned people into giving them his money via fraud.
Here is the actual data about taxation and the 1%; what would you change, given they are taxed at a rate over twice that of their share of income (40% of income taxes, 20% of income) and at a rate well ahead of any other group?
RTFS - " but there could still be 58 million net new jobs created in the next five years, the World Economic Forum (WEF) said in a report on Monday". That's the second half of the first sentence and you were apparently too lazy to read even that far... What, did a robot steal your job of reading?
That's an acceptable punishment. For a minute there I thought you were going to sentence someone to 90 days in the Rust world. Talk about cruel and inhumane!
2011 was Yucca Mountain, about 5 years before any issue with a Supreme Court Judge. I know it's hard for low-information Democrats to keep basic facts and timelines straight, but do please try to use the Internet somewhat to learn what happened and when. In 2011 Harry Reid was the Senate Majority Leader, meaning the Senate was held by the Democrats. After the 2014 election, Mitch McConnell and the Republicans took over.
He turned me into a newt!
I got better...
Never more relevant... What's a computer?
I didn't say she was a GOOD robot or AI...
Sure, but that's not the question. California cannot say "South Korea, because your emissions are higher, you have to pay this tariff on each vehicle, and Germany, you have to have this standard for emissions". It's equal across all - which means, punishing individual countries or companies via tariffs is essentially impossible. It's the industry as a whole or nothing.
With renberth's missing heat?
Should be 12 minutes differential; on September 21st, solar "noon" will be at 1:05 PM in Edinburgh, and at 12:53 PM in London. So there should be a 12 minute offset, not 3.
Men are penalized more for being late. Women are forgiven tardiness more readily. Yes, it is sexist - but not in the way you think it is.
I'd buy in if I could, but I first need to make sure you have your own ICO tied with that, because how else can you secure your AI backend unless you use blockchain?
Caltrans has plans for all kinds of things. Right now, we're seeing them focus on hundreds of billions of dollars for rail that goes, essentially, nowhere and there is zero plan or even an idea how to reach the biggest population in the State (where over half the people live). The Caltrans from Ventura to Los Angeles takes 2 hours, leaves really early in the morning only (4 departures, all before 7:45 AM), and has 3 afternoon return trips, again 2 hours, only one of which is after 5 PM (and doesn't get you to Ventura until 8:30 PM). That's over half a million people, just a 60-75 minute drive from LA, who are essentially unserved by trains.
Caltrans loves to spend 2.5 times the national average on roads - and let the road backlog continue to grow, even though it makes the most in gas tax revenues. It's not really about supporting transportation, but making work, keeping the big union funds for campaigns for those in Sacramento flowing, and feel-good measures - like 100 MPH "high speed" rail from Bakersfield to Modesto.