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| Subject: As usual, you don't know what you are talking about | |
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Author: Oropan |
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Date Posted: 11:04:21 05/31/07 Thu In reply to: Bev 's message, "Re: The weatlhy and taxes" on 10:27:50 05/31/07 Thu Although there is alower rate for capital gains for people of all tax brackets, including the high rates, it gets wiped out by the Alternative Minimum Tax. The net effect is that there is NO lower rate for high income people. http://en.wikipedia.org/wiki/Alternative_Minimum_Tax The only real people who benefit from the lower capital gain tax rates are low and lower middle income people. Real rich people put their money in tax free muni bonds and pay no tax on that income. In fact, any taxpayer can do that. > If they were paying the 95 percent rate like they >were when Kennedy took office then I think they have >reason to complain. Any more its sounds like bawling >to me. They are not sending their sons and daughters >to get killed and maimed in this war in fact they are >not even supporting the war most of them wanted with >their dollars. THis is the first time in the history >of the US when taxes were lowered during a war. Which >leaves us owing china and other countries a tremendous >amount of money to the extent china can send us >poisonous consumer products and we say and do little . >We are arming them to be a super power with our >present business practices with them . > On top of that most of the wealthy do not get their >income from earned income it comes from capital gains >and such and they already get a tremedous break on >those taxes that people whose only income is earned >income do not . > Its not the truly wealthy in many cases who are >against higher taxes in many cases its the ones with >upper middle class income who whine the most . [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| I beg your pardon the wealthist were paying 95 percent years ago . | Bevv | 13:38:20 05/31/07 Thu |
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| HMMM strange when figuring how much tax one pays on ss | Bev | 14:23:11 05/31/07 Thu |
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