All you LEFTIES out there.....when your NEXT check is less........

[kydonky]

You don't freakin GET it do you.....I invest in the market..and I PAY short term and LONG TERM gains......

I'm not a freakin billionaire......I will lose 20% of my retirement income with one swoop of the pin.......

YEA....THANKS.

Later,

Geo

If your earned interest is over $450,000.00 a year I do feel sorry for you and your having to pay an additioal 1.5% on that income. That just *****.

Of course capital gains are a fixed rate of 15% so I don't think you will be affected.

Here is a little food for thought in Financial news today:
According to the IRS, which recently released 2009 data from the 400 richest individual income tax returns, the real runaway growth in wealth has come from capital gains. In the last years of the bubble, the "Fortunate 400" made nearly half their income from capital gains (a.k.a.: profit from the rising value of an investment, such as stocks or property) and less than 10% of their income from old-fashioned wages.
The average income of a top-400 earner grew by 650% between 1992 and 2007 to a whopping $344 million. Over that time, the average salary didn't even double. But the average capital gains haul increased by 1,200%. So how do the richest get richer? Not from their wages. From their investments.

So we (I) pay over 24% on my Fed tax from wages and Warren Buffet pays 15% on his capitol gains. Thats fair?

[GeoFisher]

If your earned interest is over $450,000.00 a year I do feel sorry for you and your having to pay an additioal 1.5% on that income. That just *****.

Of course capital gains are a fixed rate of 15% so I don't think you will be affected.

Here is a little food for thought in Financial news today:
According to the IRS, which recently released 2009 data from the 400 richest individual income tax returns, the real runaway growth in wealth has come from capital gains. In the last years of the bubble, the "Fortunate 400" made nearly half their income from capital gains (a.k.a.: profit from the rising value of an investment, such as stocks or property) and less than 10% of their income from old-fashioned wages.
The average income of a top-400 earner grew by 650% between 1992 and 2007 to a whopping $344 million. Over that time, the average salary didn't even double. But the average capital gains haul increased by 1,200%. So how do the richest get richer? Not from their wages. From their investments.

So we (I) pay over 24% on my Fed tax from wages and Warren Buffet pays 15% on his capitol gains. Thats fair?

It is not fair..........but the caps that you "wish" were on gains income don't exist.

AGAIN, you fail to see the point.........

There are millions of folks that are NOT millionaires who live off of dividend income in retirement. EDUCATE yourself. Again, LEARN SOMETHING......

I typed a very large and detailed post, outlining the taxes, the ramifications and links to some data, but you know what......I'm TIRED of arguing with you and everyone else about it.

And we're not talking about warren buffett and the top 400 fortune 500 income earners...ARE WE....

Later,

Geo