Half of America stressed about money

[Economy 53,060]

6 minutes ago, Delusional Aura said:

B!tch you just read me to filth . That's a source of income for me and I love it because of the less taxes and it made me financially independent but I hate that you're correct in that we do get away with paying very little, especially if you're a dual citizen. 

I said above a certain threshold lol

 

I'm talking about ppl that make fortunes just doing nothing and investing in equities etc

 

Below a a certain threshold is say no cuz regular ppl invest too and it's also how pension funds and stuff grow

 

Here in Canada we tax equitity gains as income so what u pay is relative to how much u earn overall 

 

Although it's still lower than income taxes cuz only 50% of gains coin as income which is weird

 

So if ur in a 20% income bracket your stock gains will really only be taxed 10%

 

Very few CEOs make above $10M a year in salary which would take 100 years to make $1 Billion even before taxes or any money spent

 

Ppl become multi billionaires because once they are rich enough they invest and then compound

 

That's why raising the top income bracket only brings so much money. It's not taxing the main source of income for the wealthy

[Woolfsmck 2,763]

16 minutes ago, Economy said:

Both are equally important

 

Infrastructure important to move and produce goods especially physical goods but services too

 

Education important to create the brains to run industries or they can't develop and with manufacturing dying but high tech rising, it's all the more important for education to exist

 

Cut military and split the money between those two. Both very important

 

Also don't raise income taxes on wealthy in terms of salary income because it's already kinda high...

 

But raise tax on wealthy in terms of investment incomes like stock gains above a certain threshold which tend to pay below income tax levels

 

That's where most of the rich are getting away with paying very little on taxes

Make income and capital gains the same....(level the field)

[Economy 53,060]

Just now, Woolfsmck said:

Make income and capital gains the same....(level the field)

Agreed. That's what I was thinking