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  1. #8001
    Join Date
    Jan 2008
    Location
    The Queen City North Carolina
    Posts
    944
    Quote Originally Posted by sirbumpsalot View Post
    Just keep redefining "rich" until it meets your narrative...lol
    Here's the thing. Making 250k per year does make you 'rich" comparatively speaking. What you are really arguing is being a W-2 wage earner vs deriving income from LTCG and other investments. Obviously the tax code is heavily tilted towards not earning your money working for a w-2. As someone famously pointed out to Shaquille O'neal, you're rich but the guy who signs your checks is Wealthy.
    It does suck to be a high earner and constantly hear the drum beat that the rich don't pay taxes. When in fact, people who have high income jobs watch 6 figures paid in taxes while reading about Amazon corp paying 0.
    I believe that government needs revenue and the tax based should be broadened.
    In North Carolina, they went to a simple flat tax with essentially no deductions. Tax your standard deduction which helps low income folks, multiply the difference by 5.25% give or take and that's what you owe. It doesn't matter if you own or rent, have kids or not, run a business or work for the man. They got rid of deductions for 529's, boat registrations and car tax etc.
    There was some grumbling early on, but it seems to work. All the while they dropped the rate from 7.75 to 5.25%.
    The budget surplus also enabled them to double the standard deduction for 2020 which really helps low income folks.

  2. #8002
    Join Date
    Dec 2008
    Posts
    368
    ^i Know that flat taxing puts one to the right of ghengis Khan, but Jesus that seems like a fair solution

  3. #8003
    Join Date
    Dec 2003
    Location
    Nhampshire
    Posts
    5,603
    Quote Originally Posted by NWFlow View Post
    ^i Know that flat taxing puts one to the right of ghengis Khan, but Jesus that seems like a fair solution
    Eliminate cap gains being a different tax rate, restore inheritance taxes and repeal Trump cuts (ideally Bush as well) and all revenue problems go poof. Flat taxes are regressive.

  4. #8004
    Join Date
    Feb 2011
    Posts
    553
    Im 4 weeks into trading options and Im making about $.03 per hour, uggh.

  5. #8005
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    38,080
    Quote Originally Posted by NWFlow View Post
    ^i Know that flat taxing puts one to the right of ghengis Khan, but Jesus that seems like a fair solution
    Yeah, explains why NC has just been proclaimed as having the worst infrastructure in the east, and, wow, the schools produce some of the smartest movers and shakers in America.

    Let's do some livin'
    After, we die

  6. #8006
    Join Date
    Dec 2008
    Posts
    368
    Quote Originally Posted by schuss View Post
    Flat taxes are regressive.
    You're right, of course

  7. #8007
    Join Date
    Oct 2003
    Location
    slc
    Posts
    11,239
    Quote Originally Posted by schuss View Post
    Eliminate cap gains being a different tax rate, restore inheritance taxes and repeal Trump cuts (ideally Bush as well) and all revenue problems go poof. Flat taxes are regressive.
    I'd add eliminate the Social Security tax cap. Otherwise...yep.

  8. #8008
    Join Date
    Sep 2005
    Location
    PRB
    Posts
    22,093
    Quote Originally Posted by schuss View Post
    Eliminate cap gains being a different tax rate, restore inheritance taxes and repeal Trump cuts (ideally Bush as well) and all revenue problems go poof. Flat taxes are regressive.
    Quote Originally Posted by Dantheman View Post
    I'd add eliminate the Social Security tax cap. Otherwise...yep.
    This
    "fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
    "She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin

  9. #8009
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    4,557
    Quote Originally Posted by Dantheman View Post
    I'd add eliminate the Social Security tax cap. Otherwise...yep.
    Yeah. How the fuck has this maximum stayed so low for so long? It's kind of ridiculous.

  10. #8010
    Join Date
    Mar 2006
    Location
    Beaverton, OR
    Posts
    300
    Quote Originally Posted by skaredshtles View Post
    Yeah. How the fuck has this maximum stayed so low for so long? It's kind of ridiculous.
    Because it was started as an "insurance fund" run by the federal government and not a welfare program. Other countries have caps as well (Canada, German, UK, etc and are much lower than the US). Benefits depend on $$ paid in. Eliminate the cap and either you raise the benefit amount to those who put more in or the program changes and hard to politically justify to the public. Granted these days with socialism gaining strength you could argue little public blowback, but I am not trying to make an argument just attempting to answer your question. Please don't flame, thank you.

  11. #8011
    Join Date
    Sep 2006
    Posts
    3,006
    Just privatize SS. Problem solved. I mean, what could go wrong...
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  12. #8012
    Join Date
    Mar 2012
    Location
    The Bull City
    Posts
    4,838
    Quote Originally Posted by schuss View Post
    Eliminate cap gains being a different tax rate, restore inheritance taxes and repeal Trump cuts (ideally Bush as well) and all revenue problems go poof. Flat taxes are regressive.
    Why do you hate 'Murika and want to punish success?? Just dropping that in before someone says it for reals LOL..
    Go that way really REALLY fast. If something gets in your way, TURN!

  13. #8013
    Join Date
    Dec 2003
    Location
    Nhampshire
    Posts
    5,603
    Quote Originally Posted by SumJongGuy View Post
    Why do you hate 'Murika and want to punish success?? Just dropping that in before someone says it for reals LOL..
    Actual successful people know they could be successful again, it's the frauds and kids of success scared of taxes.

  14. #8014
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    4,557
    Stock market *definitely* gonna tank.

    But today is not that day.


  15. #8015
    Join Date
    Aug 2004
    Location
    New Haven Line heading north
    Posts
    2,714
    2% wealth tax. Use it or lose it.

    Also, carried interest shenanigans need to go.
    Charlie, here comes the deuce. And when you speak of me, speak well.

  16. #8016
    Join Date
    Jan 2009
    Location
    Squaw valley
    Posts
    2,724
    Quote Originally Posted by Dantheman View Post
    I'd add eliminate the Social Security tax cap. Otherwise...yep.
    Exactly

    Sent from my Armor_3 using Tapatalk

  17. #8017
    Join Date
    Feb 2011
    Posts
    553
    Make it do something!!!!!!!!!

  18. #8018
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    38,080

    Let's do some livin'
    After, we die

  19. #8019
    Join Date
    Sep 2001
    Location
    The Cone of Uncertainty
    Posts
    47,974
    Quote Originally Posted by Benny Profane View Post
    Shit I didn't even know it was sick.

  20. #8020
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    4,557
    Today might be the day!

    But probably not.

    But maybe.

  21. #8021
    Join Date
    Oct 2003
    Posts
    3,726
    This is kinda big

    ttps://finance.yahoo.com/news/microsoft-wins-10-billion-pentagon-232402076.html

    Microsoft Wins $10 Billion Pentagon Cloud Contract, Beating Amazon
    Bloomberg
    John Harney and Naomi Nix
    ,Bloomberg•October 25, 2019
    (Bloomberg) -- Microsoft Corp. has been awarded the sought-after JEDI cloud computing contract with the Pentagon valued as much as $10 billion over a decade, the Defense Department said in a statement on Friday night.


    The decision deals a blow to Amazon.com Inc., which had been seen as the most likely winner in a deal whose terms were hotly contested by another rival, Oracle Corp.


    The Pentagon has said the cloud project, known as the Joint Enterprise Defense Infrastructure, or JEDI, is intended to help bring the Pentagon’s technology into the modern era.







  22. #8022
    Join Date
    Feb 2005
    Location
    under the hogback shadow
    Posts
    2,806
    Quote Originally Posted by DaveTV View Post
    This is kinda big


    The Pentagon has said the cloud project, known as the Joint Enterprise Defense Infrastructure, or JEDI, is intended to help bring the Pentagon’s technology into the modern era.
    Yeah, easier to hack.



    Sent from my iPhone using TGR Forums

  23. #8023
    Join Date
    Nov 2005
    Location
    Down In A Hole, Up in the Sky
    Posts
    25,963
    Didn’t Microsoft show just how superior they were with Windows 10?
    StokePimpin' ain't easy

  24. #8024
    Join Date
    Oct 2003
    Posts
    3,726
    Quote Originally Posted by rideit View Post
    Didn’t Microsoft show just how superior they were with Windows 10?
    You're not paying attention. Their stock is up over 800% from 10 years ago on the strength of AZURE.







  25. #8025
    Join Date
    Nov 2005
    Location
    Down In A Hole, Up in the Sky
    Posts
    25,963
    Maybe I wasn’t snarky enough?
    StokePimpin' ain't easy

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