08-14-2015, 09:05 AM
(08-13-2015, 09:38 PM)jakefromstatefarm Wrote: You do understand the difference between income tax and capital gains tax, don't you?
I don't think Bill Gates cares what the income tax rate is. At all. Even if he were receiving a weekly paycheck. He wouldn't pay it. We would.
You think there's some magic wand somewhere that someone can wave and redistribute everything equally. There isn't, well...unless you consider full-blown communism. I'd like to think you're not that stupid.
I don't care if everything is distributed equally, and it doesn't require any sort of magic. All I want is a tax structure and/or a minimum wage that makes sure that the lower and middle classes in our society are not living in abject poverty while all economic gains go to the people are the very top. That is where we are headed.
Why are you satisfied to see the wages of the middle class remain stagnate over the last 30 years while the people at the top have had massive gains in income? Don't you realize what that will mean in another 50 years?
And of course I understand the difference between income tax and capital gains. Do you? Do you know that capital gains are taxable? Do you understand that dividends and many other forms of investment income are not capital gains?
At some point Bill Gates received every dollar he has ever spent. If it is taxed when he acquires it then it is covered. Then the rest could be covered by estate taxes when he dies, or by wealth transfer taxes when he gives it to other people. The portion he donates to charity will not be taxed, but I am fine with that.
