Comments on: Long Term Capital Gains Tax Rates Increase in 2011

By: drew

drew — Tue, 13 Dec 2011 18:10:40 +0000

40% cap! Seriously, FUCK THE GOV!

By: Ronald

Ronald — Sat, 23 Jul 2011 22:19:45 +0000

Learn the ins and outs of the system and beat them at their own game. That’s what I had to do as early as 8th grade. Ever since I had to learn this fact including the unwritten rules, I been very successful in beating others at their own game. But then again, in grade school, I was more or less backed into the corner with no help from anyone else, so I had to fight back, which meant I had to learn all of the rules and not only that (God forbid what was to happen to me if I was to break even one of those rules), but stragetize how to beat them at their own game while staying within the rules of the game with the rules setup to be against me. Hate to say it, but businesses and government work a lot like that too, so you have to learn those rules and learn how to turn those rules around to work in your advantage against them.

By: Ronald

Ronald — Sat, 23 Jul 2011 21:54:27 +0000

Pete, I know exactly where Bob is coming from which Bob is right. While you may be right from the stand point of view of “New Income” with that mind mode of thinking, you evidently have not learned about Double and Triple Taxation as taught in Accounting.

Let’s take Investment in Stocks for example:

If you have that money in a tax shelter account such as an IRA, that income is only taxed at one time (rather it be before it was put into the IRA like ROTH IRA or Non-Deductible Traditional IRA, or it be at the time of withdrawal like in a Deductible Traditional IRA or regular 401(k) plan). As such, it doesn’t eat up the money so much over the 30 years. If you have that same money invested in the same stocks, but not in a tax shelter account such as brockerage account, then the dividends and any capital gains in it are taxed annually (Again, that money put into the account after the income from wages was already taxed once), which means in the end, when you compare a ROTH IRA vs the brockage account with that same initial money in each account invested in the same stock, the brockage account’s value ends up being way lower than the value in the ROTH IRA over that same 30 year period.

Another example of such situation. Corporate earns income, which then is taxed. They provide dividends to shareholders with money that has already been taxed, which then shareholders has to pay taxes on that dividend (hence another example of double taxation).

Therefore, before you say someone is not correct, be sure you are looking at it from the same perspective as they are looking at it and be sure to learn the terminologies along with the various implications they each have on each other.

By: Pete

Pete — Wed, 06 Jul 2011 13:45:24 +0000

No, it’s taxing your new income on the money youve already been taxed on. The base of the investment is not taxed so relax and enjoy your gains!

By: Anonymous

Anonymous — Mon, 23 May 2011 15:42:08 +0000

The tax cuts were extended! Get up to date!

By: Carlos Castanedo

Carlos Castanedo — Fri, 22 Apr 2011 22:32:17 +0000

yeah vote for Obama again – get some more “Change”….

(well that “Change” is the coins you have left from your earnings)

By: Bob

Bob — Sun, 19 Dec 2010 00:40:22 +0000

This is a tax on something that has already been taxed. I’m a small business owner, used net after tax $ to get this going, took all the risk, such as my house as collateral, grew along the way, hired a number of folks, provided health care, and I always feel the government just wants so much more-frankly I’m tired of it. I and my business are debt free-is our government? Of course not…..

By: ziggy

ziggy — Wed, 24 Nov 2010 09:23:11 +0000

Heavier taxation encourages cheating (with or without lawyers) so the net effect of all the paperwork and tricky thinking is for naught!
ziggy

By: Tommy

Tommy — Sat, 31 Jul 2010 14:07:52 +0000

When is it going to stop? We the people are getting gouged worse every year, for trying to better ourselves. We need to stop this madness.

By: Mike

Mike — Fri, 25 Jun 2010 20:07:52 +0000

All it takes is for the president to declare a “fiscal emergency” in order to get congress to renege on their promise to not tax roth gains. I will feel sorry for those that get screwed when that time comes.

By: Funny about Money

Funny about Money — Sat, 19 Jun 2010 15:03:04 +0000

Another way to screw retirees! Believe me, them that’s got money has got tax lawyers & accountants, too…and they won’t be paying these gouges.

By: billsnider

billsnider — Fri, 18 Jun 2010 12:44:40 +0000

It is only a matter of time.

Bill Snider

By: eric

eric — Fri, 18 Jun 2010 03:04:21 +0000

The govt better not change those either!

By: cdiver

cdiver — Thu, 17 Jun 2010 20:43:34 +0000

We have to pay back are debts somehow.

By: cdiver

cdiver — Thu, 17 Jun 2010 20:36:34 +0000

This is just the begining. Thank got for Roth IRA’s.