ADVERTISEMENT

Death and taxes(stocks)

uscwatson21 said:
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?
Click to expand...

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.
 
uscwatson21 said:
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?
Click to expand...
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.
 
  • Like
Reactions: iohbird
josillor said:
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.
Click to expand...

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.
 
uscwatson21 said:
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.
Click to expand...

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.
 
haneynfl said:
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.
Click to expand...
Bingo!!
 
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.
 
iohbird said:
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.
Click to expand...
It was a good run.
 
cocean said:
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
Click to expand...

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.
 
josillor said:
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.
Click to expand...

>>> 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?
 
  • Like
Reactions: uscwatson21
taiwancock said:
I stand by my statement.
Click to expand...
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.
 
uscwatson21 said:
Of course not. I’m human. But that doesn’t mean I can’t objectively understand why it’s necessary to pay more.
Click to expand...
I've never met anybody who actually wanted to pay more of their money. Nothing is stopping you and others who agree with you.
 
  • Like
Reactions: JGH 35
taiwancock said:
>>> 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?
Click to expand...

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 said:
Nothing is stopping us from making you help out either.
Click to expand...
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.
 
iohbird said:
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.
Click to expand...

And?

This is a weak attempt at a gotcha that isn’t relevant to the discussion.
 
uscwatson21 said:
And?

This is a weak attempt at a gotcha that isn’t relevant to the discussion.
Click to expand...
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.
 
iohbird said:
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.
Click to expand...

Charity is a poor way to fix societies ills.

Donations are a poor indicator in benefitting the less fortunate.
 
Cackdiesel said:
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.
Click to expand...

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.
 
Last edited:
taiwancock said:
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.
Click to expand...

PS I didn't say investors ignore taxes.
 
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.
 
Last edited:
MargarettConnors said:
Success in trading can come with a hefty tax bill, but it's all part of the game.
Click to expand...
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.”
 
hahnenkampf said:
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.”
Click to expand...
Legendary investor Jim Rogers said he loves paying more taxes because it means he is having investment success.
 
  • Like
Reactions: hahnenkampf
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 said:
Did he say anything about paying more taxes on the same amount of income?
Click to expand...
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.
 
Last edited:
cockofdawn said:
GTH
Click to expand...
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.
 
You must log in or register to reply here.

Similar threads

D

Calm Down. Most of us predicted a Loss- and we lost. Plus

Replies
8
Views
1K
Gamecocks Forum
DeeDave
D
1SGgamecock

I gotta say, this years team has taken me by surprise

Replies
96
Views
3K
Gamecocks Forum
Ward Jr
Ward Jr
wutan

Vandy is not a gimme, but….

Replies
5
Views
912
Gamecocks Forum
DeeDave
D
Alan Cole

Fall Baseball Scrimmage Notes (Nov. 1)

Replies
0
Views
837
The Insiders Forum
Alan Cole
Alan Cole
Southern Fried Chicken

Anyone know the facts/story concerning Kitt's not being allowed to play yesterday?

Replies
31
Views
2K
Gamecocks Forum
JGH 35
J
ADVERTISEMENT

Latest posts

ADVERTISEMENT
Top Bottom
Back