| Blogs > jiminycricket1 > My Blog |
|
Double Taxation. There is no such thing! "The flat tax remains a popular idea in part because it eliminates double taxation. It removes the section of the tax code that is biased against the formation of capital. It eliminates the death tax, capital gains tax and double taxation of savings and dividends". Maisie wrote the above statement...I'm so tired of this rhetoric that makes abosolutely no sense. Money earned by ones labor and Money earned by ones Money, is the same Money. To think otherwise is a boondoggle. The capital gains tax rate already reduce the rate on Money earned from Money. It was put into place to spurn investment. It is no longer viable. A person works and earns a moderate income all his/her life and pays taxes. it's there duty, it's expected. A person works only for themselves, uses their Money to generate their income. These people do not make a moderate income but are the rich of this country. People like Milt Romney making 20million a year and pay 14% in taxes, all capital gains, an amount less in percentage than most moderate wage earners. By maisie philosophy Milt Romney should not pay any taxes. Yet it is the rich and the investors who gain the most by our system of government, by government services. They should not pay taxes? The fact all Money, by maisie standard, is double taxed. I earn Money that is taxed. I pay someone to provide a service and then they are taxed on Money I was already taxed on. Some one else inherits, or earns Money that has been taxed. Instead of buying services, they put that Money to work for them. The Money they earn by investment is taxed at lower rate, Yet by maisies philosophy should not be taxed at all. By maisie philosophy, almost all the rich in this country would not be taxed at all. They would pay zero, nada, nothing ever! |
|||
11/1/2015 10:24 am |
Hi Jiminy: Here in Canada everything we buy except food, and every service we use is taxed, cigarettes are about $9.00 a pack, etc. Every second we seem to be paying taxes on something, even though we paid a high payroll tax when we earned the money in the first place. People here don't seem to mind all the taxes though because the government pays a good chunk of that tax money to provide all kinds of benefits you would not believe for the people here. If you need something here and can't afford it, there will usually be some government programme that will pay for it. The cities here seem to make good use of tax money too. For example, if some litterbug spills something on the sidewalk or throws a piece of paper on the ground , the government sends three people to clean it up. Once I had to call the police, so I called 911 and even though my apartment was on the 16th floor, two cops showed up in less than one minute.
| ||
|
First mistake you make is a tax is not on the money, it's on the person who acquires the money. How that money is acquired makes no difference it is personal income that is taxed, not the money. So no person is double taxed, but if you say in certain circumstance that money is double taxed. I response that money itself is five times taxed, but taxed for different people. There is no such thing a double tax, it's ridiculous to even say it. No person is double taxed, they are taxed on all the new money they acquire.
| ||
|
The one thing that conservative always fail to mention about double taxation is that the money that has already been taxed is not taxed again. Only money earned by money is taxed.not the original investment. They fail to say this to make it seem like double taxation. but it's not It's taxation on income not on investment. A person works his ass off 40 hrs a week and make $48,000/yr and is taxed Some other person doesn't work, inherits or obtains invest income or both in the amount of $480,000/yr, and that person is not suppose to taxed? maisie you can't be that stupid!
| ||
|
maisie, There is no such thing as double taxation, you keep saying it, and it's a lie. I don't know what the conservative say that you read. It's just not true it's a lie to get people to think that people are double taxed. NO ONE is double taxed. You can only try say money is double taxed. All money is taxed multiple times. So that doesn't make any sense. People are not double taxed. Period end of conversation. Every time you say it, and try and make it mean something....YOU ARE LYING!
| ||
|
maisie, You change the truth... "many pay good money to avoid DOUBLE TAXATION" They pay good money to avoid paying taxes, it has nothing to do with double taxation. You want to see the Conservative go up in arms. don't increase tax rates, don't take out loopholes....Just try and take away the capital gains tax...se what happens then. Let me ask you this....Are you saying that because of double taxation, money earned through investment, or inheritance should not be taxed? please answer this.
| ||
|
I live in Kansas, work in the city of Kansas city, Mo.... I pay taxes for Kansas, and Misouri and the City of Kansas city Mo. It's not double taxed That like saying you pay federal tax and state taxes, so you're double taxed. also if a country taxes you, and you move to different country. you should expect to pay both entities, again it's not double taxed. Double taxed assumes the same person is being taxed by the same entity twice. Your main point is investment and inheritance, deal with that. Answer my Question. "Let me ask you this....Are you saying that because of double taxation, money earned through investment, or inheritance should not be taxed? please answer this."
| ||
11/2/2015 6:00 am |
And how is a flat tax going to eliminate this?
| ||
|
Maisie, You refuse to answer my question...sounds a lot like adolpho!
| ||
|
Does a flat rate include investment income and inheritance income?
| ||
11/2/2015 10:34 am |
That has nothing to do with a flat tax. The only way to stop double taxation of dividends is to either make them an allowable business deduction for the corp, or to make them non-taxable in the hands of the recipient like the interest on muni bonds in the US.
| ||
|
so tell me big....you answer the question maisie will not answer. if you believe, in double taxation. should money that is inherited or earned through investment money. Not be taxed. answer the question, if you want to discuss it.
| ||
|
That has nothing to do with a flat tax. The only way to stop double taxation of dividends is to either make them an allowable business deduction for the corp, or to make them non-taxable in the hands of the recipient like the interest on muni bonds in the US. So I guess Canada isn't any smarter than Americans. Try and understand tax is not on MONEY, tax is on the person who earns MONEY. It doesn't make any difference how it is earned, if a person earns it as new MONEY to them. Then it is taxed. everybody earns MONEY that has already been taxed.
| ||
|
okay, big... I know you don't believe in income tax at all....so The answer you have given is what was expected. It's my opinion that a consumption tax wouldn't work, wouldn't be fair, and create really high prices for necessities that people already cant afford. But really, big, you call yourself a conservative, and fall for the rhetoric that is used, and never to be applied. The fact is a flat rate tax would substantially increase costs, and substantially reduce demand.. The economic repercussions would be disasterous for businesses and the economy, reducing GNP,
| ||
|
yes I don't think it's perfect..but it's fairer than most other ways. I think we owe part of our ability to be productive to what come from and by this country. It is only fitting that productivity be taxed.
| ||
|
Are we arguing income tax, the graduated rate of income tax, or all taxes in general? Communist manifesto? you're out to lunch! Do you ever think through what you say?
| ||
|
[SIZE 3]communist manifesto.......income tax? communist manifesto... it's a stage to communism. Progressive income tax, however, it is not a result, .it's a tool. Your assumption it, in itself, that progressive income tax is communist is absurd communism is designed to do away with tax. maybe you should be a communist, that what you want isn't it?
| ||
|
yeah, I do know better than that...you're right. but so should you know better than that too. you infer something then deny it because it's not a statement. I'm doing the same thing...if you won't do it, I wont do it.
|
×
×