Death and taxes(stocks)

[josillor]

This is such a dumb argument considering the federal government bails out most states every year by giving them more in federal funding than their residents pay.

So Kentucky gets credit because they get an additional 148 billion in federal funding every year?

As mentioned previously, the reason some red states cost the federal government more than they contribute is due to the lack of super high wage earners to offset the number low wage earners(Democrats). I would be willing to bet you that if the entire state of SC, for example, was made up solely of Repbublican voters, it would be solidly in the black on the federal balance sheets. That isn’t to say there aren’t some very high wage earning Democrats and some very low wage earning Republicans in SC, but the average wage demographics don’t lie. This is not unique to SC. These same wage demographics play out across the nation on average.

 

[JGH 35]

This is such a dumb argument considering the federal government bails out most states every year by giving them more in federal funding than their residents pay.

So Kentucky gets credit because they get an additional 148 billion in federal funding every year?

You don't get it. It makes no difference where their money comes from, the republican states MANAGE their money responsibly while the democratic states do not. They are irresponsible(perhaps criminal) with their finances and are at or near bankruptcy and it's not just a small amount of money. It is billions of $ and they won't do anything about it. They expect the federal govt to bail them out in true liberal fashion. Also, using your example, the amount of money Kentucky gets pales in comparison to what it would take to bailout New York. Not even close.

 

[uscwatson21]

As mentioned previously, the reason some red states cost the federal government more than they contribute is due to the lack of super high wage earners to offset the number low wage earners(Democrats). I would be willing to bet you that if the entire state of SC, for example, was made up solely of Repbublican voters, it would be solidly in the black on the federal balance sheets. That isn’t to say there aren’t some very high wage earning Democrats and some very low wage earning Republicans in SC, but the average wage demographics don’t lie. This is not unique to SC. These same wage demographics play out across the nation on average.

This may be the most delusional hot take I’ve ever seen.

You’re blaming the democrats that Republican states tend to be poorer on average than Democratic states?

So those liberal states like NY have enough rich republicans to offset the majority of democrats in the state lol? That type of mental gymnastics is incredible.

 

[josillor]

This may be the most delusional hot take I’ve ever seen.

You’re blaming the democrats that Republican states tend to be poorer on average than Democratic states?

So those liberal states like NY have enough rich republicans to offset the majority of democrats in the state lol? That type of mental gymnastics is incredible.

Many blue states have higher average wages(though not a higher standard of living), thus more tax revenue. The lower income brackets in every state vote heavily Democratic. That is undeniable. NY is a blue state and even some of the wealthier folks there vote Democratic, however, the demographic still holds true. The more money you make, the more likely you are to vote Republican. Keep in mind, 150k in Manhatten isn't the same as 150k in Mississippi. The guy making 150k in Manhatten isn't well off and thus may still vote Democratic while the guy in Mississippi is well off and is more likely to vote Republican. It doesn't take any mental gymnastics.

 

[hahnenkampf]

If I make $1M and you make $50K and we both pay 10% in taxes, I pay $100K and you would pay $5K......what is not fair about that? I would have paid $95K more just in in federal taxes. There is a strong likelihood that I would have paid even more taxes than you through normal consumption of goods too (property taxes, sales tax, etc.).

There is no incentive for success and opportunity in your approach. That is why "big cities" have such a problem with income inequality. The rich are in the penthouse; the poor in the streets. High taxes are used to separate the two classes. The 1% can afford it (but shouldn't need to do so). The poor settle on the government dole with no incentive to do more (or they may pay more). The middle class gets hosed (and I put the middle class in those that make between $75K-$1M, which is not scientific just my thoughts).

I could design a tax code that is fair, budget neutral (meaning it would deliver same/similar revenue to the government as today) and could be written in very large print and not as many pages as your child's/grandchild's coloring book. It would even have illustrations for the current Congress so they could understand. Won't happen - it reduces the power broker's power.

Bingo!!

 

[iohbird]

Reading the posts on masks and taxes on FGF reinforces the fact that we're a very divided country. There are scholarly articles that have been published which illustrate natural and political borders dividing the United States or the entirety of North America into (up to 8) distinct and different countries. I know not in my lifetime, but I fear this could eventually happen if we're not not able to have civil discourse and find common ground.

 

[Silver_Coconut]

Reading the posts on masks and taxes on FGF reinforces the fact that we're a very divided country. There are scholarly articles that have been published which illustrate natural and political borders dividing the United States or the entirety of North America into (up to 8) distinct and different countries. I know not in my lifetime, but I fear this could eventually happen if we're not not able to have civil discourse and find common ground.

It was a good run.

 

[taiwancock]

Damn, figured out the secret to trading this past year and made a substantial amount. I knew I was going to be hit hard on taxes.....but DAMN!! Bummer

You figured out the secret of trading in just one year? Wow, the next 20 years will come easy to you then.

Honestly, if you're trading and you have to cry about taxes, you're not doing well enough.

 

[Cackdiesel]

You figured out the secret of trading in just one year? Wow, the next 20 years will come easy to you then.

Honestly, if you're trading and you have to cry about taxes, you're not doing well enough.

Interesting perspective

 

[iohbird]

Interesting perspective

I don't anyone is really crying - people are just fed up with the working class being subjected to the socialist practice of progressive taxation.

 

[taiwancock]

Interesting perspective

I stand by my statement.

 

[taiwancock]

As mentioned previously, the reason some red states cost the federal government more than they contribute is due to the lack of super high wage earners to offset the number low wage earners(Democrats). I would be willing to bet you that if the entire state of SC, for example, was made up solely of Repbublican voters, it would be solidly in the black on the federal balance sheets. That isn’t to say there aren’t some very high wage earning Democrats and some very low wage earning Republicans in SC, but the average wage demographics don’t lie. This is not unique to SC. These same wage demographics play out across the nation on average.

>>> I would be willing to bet you that if the entire state of SC, for example, was made up solely of Repbublican voters, it would be solidly in the black on the federal balance sheets

I like the way you just make that up. You do know some of the poorest counties in this country, that take the most Federal aid, vote overwhelming Republican don't you?

 

[SportsFan482]

If you’re making $530,000+ a year you look silly complaining about a 37% tax rate.

Why would someone look silly wanting to keep more of their own money?

 

[Cackdiesel]

I stand by my statement.

That's nice, but I doubt there's an investor on the planet, conservative or not, that agrees with you. You should present some research on the topic to enlighten EVERY investor on the planet. People invest to make money. No one ignores tax rates when doing so. Even people who agree with increasing capital gains taxes wouldn't agree with such a ridiculous statement.

 

[iohbird]

Of course not. I’m human. But that doesn’t mean I can’t objectively understand why it’s necessary to pay more.

I've never met anybody who actually wanted to pay more of their money. Nothing is stopping you and others who agree with you.

 

[josillor]

>>> I would be willing to bet you that if the entire state of SC, for example, was made up solely of Repbublican voters, it would be solidly in the black on the federal balance sheets

I like the way you just make that up. You do know some of the poorest counties in this country, that take the most Federal aid, vote overwhelming Republican don't you?

No, I didn't know that. I do know that those with the lowest average incomes across the nation vote heavily Democratic. You do know that don't you?

 

[uscwatson21]

I've never met anybody who actually wanted to pay more of their money. Nothing is stopping you and others who agree with you.

Nothing is stopping us from making you help out either.

 

[cocean]

You figured out the secret of trading in just one year? Wow, the next 20 years will come easy to you then.

Honestly, if you're trading and you have to cry about taxes, you're not doing well enough.

U jelly

 

[iohbird]

Nothing is stopping us from making you help out either.

Sure - that's how it's done. Liberals love extortion. Look at how generous your tax increase leader was with his money when he thought people weren't paying attention:

From 1998 to 2008, while Joe served as a U.S. senator for Delaware, their household’s annual income was $322,000. IN TOTAL, they gave $5,575 to charity in that time frame. While it is unclear which organizations the Bidens gave most of that money to, their 2008 tax returns do show one donation: clothing worth $550, given to Goodwill.

Their annual donations—totaled less than $1,000 most years between 1998 and 2007.

 

[uscwatson21]

Sure - that's how it's done. Liberals love extortion. Look at how generous your tax increase leader was with his money when he thought people weren't paying attention:

From 1998 to 2008, while Joe served as a U.S. senator for Delaware, their household’s annual income was $322,000. IN TOTAL, they gave $5,575 to charity in that time frame. While it is unclear which organizations the Bidens gave most of that money to, their 2008 tax returns do show one donation: clothing worth $550, given to Goodwill.

Their annual donations—totaled less than $1,000 most years between 1998 and 2007.

And?

This is a weak attempt at a gotcha that isn’t relevant to the discussion.

 

[Silver_Coconut]

Nothing is stopping us from making you help out either.

That’s not authoritarian at all.

 

[josillor]

Nothing is stopping us from making you help out either.

Help out? I think you mean foot the bill for more "free" stuff.

 

[iohbird]

And?

This is a weak attempt at a gotcha that isn’t relevant to the discussion.

It's relevant. It represents the philosophy of the left which is: Always happy to help out with other people's money. Just don't ever expect help from their own pockets.

 

[uscwatson21]

It's relevant. It represents the philosophy of the left which is: Always happy to help out with other people's money. Just don't ever expect help from their own pockets.

Charity is a poor way to fix societies ills.

Donations are a poor indicator in benefitting the less fortunate.

 

[taiwancock]

That's nice, but I doubt there's an investor on the planet, conservative or not, that agrees with you. You should present some research on the topic to enlighten EVERY investor on the planet. People invest to make money. No one ignores tax rates when doing so. Even people who agree with increasing capital gains taxes wouldn't agree with such a ridiculous statement.

That's funny. I've been in the business for decades. I assure you I'm not the only one that feels that way. Anyone crying about taxes from one year of trading is an amateur and probably should not be trading the markets. Get a good accountant and tax lawyer. Restructure your investment vehicles. Rethink your strategy if you are not minimizing your taxes.

 

[taiwancock]

That's funny. I've been in the business for decades. I assure you I'm not the only one that feels that way. Anyone crying about taxes from one year of trading is an amateur.

PS I didn't say investors ignore taxes.

 

[Silver_Coconut]

Charity is a poor way to fix societies ills.

Donations are a poor indicator in benefitting the less fortunate.

Oh yeah the government does way better.

 

[MargarettConnors]

Success in trading can come with a hefty tax bill, but it's all part of the game. When I faced a similar situation, I sought advice on tax-efficient strategies. One thing that caught my eye was learning how to do a backdoor Roth IRA. It's a savvy move to potentially minimize taxes in the long run.

 

[hahnenkampf]

Success in trading can come with a hefty tax bill, but it's all part of the game.

Indeed. One of my Econ professors back when I was an undergrad made the statement one day in class: “if you don’t have a tax problem you’re not succeeding financially in life.”

 

[cockofdawn]

Does he plan on being president for a decade? LOL. I'd give him 35% chance of getting through the first term.

Their (democrats) plan is to always stay in power. Socialist Banana republic. We are almost there. Four more years will make it official!!

 

[cocks rule]

Their (democrats) plan is to always stay in power. Socialist Banana republic. We are almost there. Four more years will make it official!!

My fear is we’re already there. No way it should’ve gotten to this point.

 

[gamecock stock]

Indeed. One of my Econ professors back when I was an undergrad made the statement one day in class: “if you don’t have a tax problem you’re not succeeding financially in life.”

Legendary investor Jim Rogers said he loves paying more taxes because it means he is having investment success.

 

[JGH 35]

Nothing is stopping us from making you help out either.

So you are an admitted thief who wants to steal more and more money from others!

 

[cockofdawn]

We probably need to do what the Socialist/Democrats want... Take all your Gains and earnings, and split it up with Everyone!! I want a SHARE of it for sure!! I will reap benefits without working for it, as Socialist/Democrats expect!!

 

[JGH 35]

Legendary investor Jim Rogers said he loves paying more taxes because it means he is having investment success.

Did he say anything about paying more taxes on the same amount of income?

 

[DeeDave]

Their (democrats) plan is to always stay in power. Socialist Banana republic. We are almost there. Four more years will make it official!!

Yeah, Republicans never, ever have a plan to always stay in power. LOL

Trump's call for 'termination' of constitution condemned

The White House says the former president's comments are "anathema to the soul of our nation".

www.bbc.com

 

[cockofdawn]

Yeah, Republicans never, ever have a plan to always stay in power. LOL

Trump's call for 'termination' of constitution condemned

The White House says the former president's comments are "anathema to the soul of our nation".

www.bbc.com

GTH

 

[gamecock stock]

nm

 

[gamecock stock]

Did he say anything about paying more taxes on the same amount of income?

Investment income is different from fixed income. Didn't McMaster and the state legislature raise our gas tax to pay for improved infrastructure? As one who has driven the roads of South Carolina, I had no problem with that. But, that's me.

 

[DeeDave]

GTH

I'm not worried about your feelings.

When your guy wanted to terminate the constitution to help himself stay in power without a contrary word of criticism from folks like you- with the help of some of his own party officials, that screws your "the other guys want to stay in power" argument whether you admit it or not.