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Big deal! Your taxes went up 2%. We live on investments and our taxes went up from 15% to 24% and I am not whinning one little bit. When a country has bills they need to be paid. My math tells me that is 9%.
And every time someone talks about fixing the problem they don't suggest stopping throwing away money on other countries or requiring that people go to work to pay for their own families like we have done for years while paying so our parents could collect their SS; they want to take our hard earned money away from us and give it to bail out companies that are paying their executives millions of dollars to earn nothing and ship jobs overseas.
The way I see it is that if a dress costs $100 and you cannot afford it; you certainly cannot afford to pay that plus interest by borrowing the money. I figured that out a long time ago when working on the family budget. What you do is do without everything you can and only spend on necessary things.
Our government is ignoring that we cannot afford the dress and think that somehow we can spend our way out of this. I could be thrown off city-data by telling you the raw truth of what I think about this government. Why did we elect such stupid people? Maybe because we have so many stupid people voting.
Oh you're right about that one..cap gains from 15% to 20% does effect everyone.
I was thinking of the others that only effect the $400K+ folks.
I did a wash trade last month to take profit on one stock that really took off since 2009.
I figured even if renewed that 15% rate wouldn't last long.
But now my cost basis is higher so when I do sell the profits will be smaller.
The difference in tax was significant for me.
I had read about what happened the last time the cap gains tax was changed.
There was a flurry of selling in Dec. and the next year tax revenue was sky high because of it but the year after tax revenue was actually lower than projected from it.
That always seems to happen when you give people advance notice of tax changes.
They proactively do something to avoid them.
Look at the good side... as your income shifts to capital gains (when you hit your 30s and 40s), you'll be paying lower taxes overall since the new deal locks in the discounted tax rates.
Look at the good side... as your income shifts to capital gains (when you hit your 30s and 40s), you'll be paying lower taxes overall since the new deal locks in the discounted tax rates.
Big deal! Your taxes went up 2%. We live on investments and our taxes went up from 15% to 24% and I am not whinning one little bit. When a country has bills they need to be paid.
The way I see it is that if a dress costs $100 and you cannot afford it; you certainly cannot afford to pay that plus interest by borrowing the money. I figured that out a long time ago when working on the family budget. What you do is do without everything you can and only spend on necessary things.
Our government is ignoring that we cannot afford the dress and think that somehow we can spend our way out of this. I could be thrown off city-data by telling you the raw truth of what I think about this government. Why did we elect such stupid people? Maybe because we have so many stupid people voting.
A dress ? No, our government went out and bought 1000 dresses on the credit card and the bill is being sent to us
Yes, that was my initial point. Most of my income is now taxed at a rate higher than 5%. There's nothing that I could have done.
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