Rand Paul Tax Plan

[StLucieBengal]

(06-21-2015, 12:57 AM)Benton Wrote: I recommend it for anyone. Very calming. If you don't clear everything out of your mind, you won't hit the target. 

My plan tomorrow (father's day) is to spend the morning shooting mine, then hit the pool until it's time to grill. A couple hours focusing on the target is a great way to get a clean slate.

Yeah I have done it a few times ..... It's amazing. I love the feeling just before you release.

[Benton]

(06-21-2015, 12:56 AM)michaelsean Wrote:
How are you paying for their hobby?  If they make a profit they pay tax on it.  If they lose, the casino makes a profit and pays tax on it.  You arent paying for anything.  Are you telling me if you play a cash game of Hold em and bring $1000 in, and lose the $1000 but while playing you won a hand, that you should pay tax on that hand you won?

If the IRS is reading this, then yes. Yes I paid those taxes.

And who is to say the casino paid a tax on it? Tribal exemptions, nearly $30 billion, are tax exempt. If a non-NA gaming company can show a loss, that's another issue. Caesars Ent., not too long ago lost more than a billion. How is that a business model that requires my tax dollars?

I can lose $1 billion. Seriously. Give me $1 billion, I can #&@% up and lose it. No taxpayers need be involved.

[Benton]

(06-21-2015, 01:02 AM)StLucieBengal Wrote: Yeah I have done it a few times .....  It's amazing.   I love the feeling just before you release.

We're verging off topic from michaelsean's need to legitimize gambling as a tax deduction worthy hobby, but... that's the hardest part. Drawback, aiming, it's all easy until the release. If you do get into it, don't use a release, they take all the skill out of it. Unless you have to due to finger strength, that's different.

[*michaelsean*]

(06-21-2015, 01:06 AM)Benton Wrote: If the IRS is reading this, then yes. Yes I paid those taxes.

And who is to say the casino paid a tax on it? Tribal exemptions, nearly $30 billion, are tax exempt. If a non-NA gaming company can show a loss, that's another issue. Caesars Ent., not too long ago lost more than a billion. How is that a business model that requires my tax dollars?

I can lose $1 billion. Seriously. Give me $1 billion, I can #&@% up and lose it. No taxpayers need be involved.

I can say with complete confidence that nobody else in the country thinks that if you win one hand in the course of losing $1000 in a poker game, that it should be taxable. And not because they just don't want to pay taxes, but because it makes no sense.

As for archery, Im a big fan of the English longbow,. Never shot any bow, but I like reading books involving English archers.

[JustWinBaby]

(06-21-2015, 12:25 AM)Benton Wrote: Likewise, I used to work on cars. I restored a 69 Camaro. All my free time and money went into it. There was no tax break. When I sold it, I claimed the income. A hobby, no tax break.

We're not talking about exemptions made professional gamblers. I'm talking about hobbyists. If you would like to pay for my hobby, I'll gladly accept your donations.  Currently, the government draws a line.

You still seem to be struggling with the that gambling losses offsetting gambling wins are not deductions or any sort of taxpayer subsidy.  It's the investment or cost you incurred to win that money.

Secondly, you play with chips/credits and not money.  If you purchase $100 of chips, and then cash out $50, you lost $50.  There's no "hobby income" to be taxed.  It's compete bizarre to think of the intermittent wins throughout the session as taxable gambling winnings - there is no income but rather your "hobby" just cost you $50.

[Benton]

(06-21-2015, 01:32 AM)JustWinBaby Wrote: You still seem to be struggling with the that gambling losses offsetting gambling wins are not deductions or any sort of taxpayer subsidy.  It's the investment or cost you incurred to win that money.

Secondly, you play with chips/credits and not money.  If you purchase $100 of chips, and then cash out $50, you lost $50.  There's no "hobby income" to be taxed.  It's compete bizarre to think of the intermittent wins throughout the session as taxable gambling winnings - there is no income but rather your "hobby" just cost you $50.

You're struggling with basic grammar.



Secondly, if you buy $100 in chips, lose $50 and cash out $50, there's not income. Which isn't the same if you buy $100 in chips, win $100 and cash out $200. 

Basic math is a struggle, but 200 > 100. 


And since when were slots and other forms of gaming not done with money? I've never put $20 worth of chips in a slot machine. I didn't win $60 on the Derby betting $20 worth of nothing.

[JustWinBaby]

(06-21-2015, 01:54 AM)Benton Wrote: You're struggling with basic grammar.

You're an abject idiot.  There's no sugar coating it.  I often thought you were a libtard, but this thread proves that would be generous.

[JustWinBaby]

(06-21-2015, 01:54 AM)Benton Wrote: Basic math is a struggle, but 200 > 100.

And that's a different argument from what you've been spamming.  But still ignorant.  And people like you spam for free education, yet it's a demonstrably waste of resources.

[RICHMONDBENGAL_07]

(06-21-2015, 04:11 AM)JustWinBaby Wrote: You're an abject idiot.  There's no sugar coating it.  I often thought you were a libtard, but this thread proves that would be generous.

Hahaha...I love when right wingers use that term as insult.




Hilarious

[fredtoast]

(06-20-2015, 05:10 PM)michaelsean Wrote: So that's your answer?

There was no question to answer.

[*michaelsean*]

(06-21-2015, 01:02 PM)fredtoast Wrote: There was no question to answer.

Sorry. So that's your reply?

[fredtoast]

(06-20-2015, 05:05 PM)SunsetBengal Wrote:  That is where things started getting messed up in the US.  The Federal Government intervening in what matters (like tax issues, for instance) that should be decided in each individual State, by the folks who live there.

Still bitter over that Civil Rights Act i see.  

You live in a state that receives more benefits from federal funds than it pays in.  Your schools and local law enforcement (and other so-called state functions) can only pay their bills because they receive block grants from the federal government.  And that does not include all the benefits you receive from the federal government such as national defense, environmental protection, highways, etc.

To hear you crying about how the federal government is the problem is like listening to a spoiled teenager calling his parents stupid while he still lives in their basement and can not afford to support himself.

[fredtoast]

(06-21-2015, 01:09 PM)michaelsean Wrote: Sorry.  So that's your reply?

Yes, that was clearly my reply.

Care to address it?

[*michaelsean*]

(06-21-2015, 01:26 PM)fredtoast Wrote: Yes, that was clearly my reply.

Care to address it?

So you have moved on from your ridiculous notion that mortgage deductions only benefit the wealthy.

I personally have never received any money from the government. I make my money and they have laws saying how much tax I pay, and I pay it.

[fredtoast]

(06-21-2015, 01:31 PM)michaelsean Wrote: So you have moved on from your ridiculous notion that mortgage deductions only benefit the wealthy.

No I did n ot move on.  Instead I posted facts that show it benefits the wealthy more than the lower income classes.  

It is a very simple concept.  Surprised you can not grasp it. 

[fredtoast]

(06-21-2015, 01:31 PM)michaelsean Wrote: I personally have never received any money from the government.  I make my money and they have laws saying how much tax I pay, and I pay it.

The government subsidizes your child care by making it tax exempt.  

[*michaelsean*]

Based on a chsrt I read, about 2/3 of people making $50,000 to $100,000 itemize. It's broken down by state and income divions of 50-75 and 75-100 so I estimated. Could be a little higher or lower. I can link it tomorrow when Im on a computer.

[Benton]

(06-21-2015, 04:11 AM)JustWinBaby Wrote: You're an abject idiot.  There's no sugar coating it.  I often thought you were a libtard, but this thread proves that would be generous.

 I guess with all that flowery verbage you've made yourself feel better, even while struggling with basic grammar. Way to go, sport.

(06-21-2015, 04:14 AM)JustWinBaby Wrote: And that's a different argument from what you've been spamming.  But still ignorant.  And people like you spam for free education, yet it's a demonstrably waste of resources.

I don't recall ever advocating free education. Or spamming anything other than the fact that people should pay their own way without expecting others to pick up their losses. It's laughable that you toss out terms like "libtard" and toss out some irrelevant thing about education, yet you get all bent out of shape when someone says they shouldn't pay for your hobby.

So, from your posts, you're anti-public education, pro-taxpayer subsidized gaming? 

[*michaelsean*]

(06-21-2015, 01:48 PM)fredtoast Wrote: No I did n ot move on.  Instead I posted facts that show it benefits the wealthy more than the lower income classes.  

It is a very simple concept.  Surprised you can not grasp it. 

No you didn't.  You posted zero facts.  It seems if it comes to hurting the wealthy or helping the middle class, you'll go for hurting the wealthy every time. You said the mortgage deduction was pandering to the wealthy when many people in the middle class benefit by it, but because wealthy people also benefit from it, you just can't have it.

And don't mortgage interest and other deductions begin to phase out at certain income thresholds?

[StLucieBengal]

Saying mortgage interest deduction is a "rich" only benefit is misleading.   Every property owner benefits.    Lots of middle to low income people own property.

Fred you make it out like everyone who owns property and gets the deduction must be a Rockafeller or Vanderbilt.