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The Water Cooler
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Biden wants to increase taxes on all you rich working peeps.
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<blockquote data-quote="Rez Exelon" data-source="post: 3567834" data-attributes="member: 5800"><p>Riiiiiiiiiight. Because let's say I have $200,000 to drop in investment. And that money is going to make $50,000, but I'm not going to do it because my tax rate went from 20 to 39%? I'd only make $30,500 instead of $40,000? Oh the humanity, I can't stand "only" making $30,500 in this example.</p><p></p><p>But wait, 20 to 39%? How do I even know that applies to me? Because there are different brackets for short and long term gains, as well as their being different brackets based on income. Personally I fall into the "$80,001 to $496,600" bucket, so my starting rate would only be 15% anyways. Heck, even if I made between $496,600 and a million it wouldn't change from 20% because <strong>the article specifically states that the capital gains increase would (in the proposal) only be for households with over 1 million in income.</strong> Considering how few of those there are, I don't think that matters to a single dang person here on this forum. People like the Koch Brothers, Gates, Buffet, the Waltons. They care. Not us down here in 15% land.</p><p></p><p>And while I'm here, please propose an alternative investment that's going to return the gains of the stock market <strong>even in </strong>this scenario. Is there a better investment? I'll wait, because I bet if there was one the smart money would already be there.</p></blockquote><p></p>
[QUOTE="Rez Exelon, post: 3567834, member: 5800"] Riiiiiiiiiight. Because let's say I have $200,000 to drop in investment. And that money is going to make $50,000, but I'm not going to do it because my tax rate went from 20 to 39%? I'd only make $30,500 instead of $40,000? Oh the humanity, I can't stand "only" making $30,500 in this example. But wait, 20 to 39%? How do I even know that applies to me? Because there are different brackets for short and long term gains, as well as their being different brackets based on income. Personally I fall into the "$80,001 to $496,600" bucket, so my starting rate would only be 15% anyways. Heck, even if I made between $496,600 and a million it wouldn't change from 20% because [B]the article specifically states that the capital gains increase would (in the proposal) only be for households with over 1 million in income.[/B] Considering how few of those there are, I don't think that matters to a single dang person here on this forum. People like the Koch Brothers, Gates, Buffet, the Waltons. They care. Not us down here in 15% land. And while I'm here, please propose an alternative investment that's going to return the gains of the stock market [B]even in [/B]this scenario. Is there a better investment? I'll wait, because I bet if there was one the smart money would already be there. [/QUOTE]
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