Taft2016
Verified User
Oh. so you agree then that rich people have ways of avoiding paying taxes then, but you're just ignorant of it. Cool.
No, the question was; how do they avoid paying taxes?
Oh. so you agree then that rich people have ways of avoiding paying taxes then, but you're just ignorant of it. Cool.
When did you become a turbolibAll they would need to do is amend the tax code to say:
Capital gains will be held in escrow, taxed as CG when it is re-invested or taxed as ordinary income if withdrawn and used for personal living expenses, or something resembling that...
No, the question was; how do they avoid paying taxes?
Be rich and find out. Then they'll tell you how.
Pile up money in your 401k, put in 20,000 annuallyNo, the question was; how do they avoid paying taxes?
Pile up money in your 401k, put in 20,000 annually
Retire before 59
Set up 72 t
You only have to pay tax as if you have bond yields
Pile up money in your 401k, put in 20,000 annually
Retire before 59
Set up 72 t
You only have to pay tax as if you have bond yields
I didn't even know about this wonderful code benefit.Been doing that for years. I can retire tomorrow on a $100K annual pension.
Guestimating I'll be able to pull out an additional $50K to $75K annually in interest from retirement accounts at age 65.
I just threw up in my mouth a little.
Let's just do a little off-the-cuff math here.
For a corporation to pay a shareholder a non tax deductible dividend of $1, the corporation would have to earn about $1.60 pre-tax to get that $1 after paying the corporate tax. Yeah, they can't avoid the corporate tax on that $1.60 if they're paying dividends. And they can't deduct the dividend payments from their profits either.
Now Obama wants to tax that $1 dividend at 35% as well, leaving the shareholder with 67 cents after taxes.
So what starts out at $1.60 in corporate profit, the government wants to take 93 cents worth?
Doesn't that seem excessive?
Stop itLet's just do a little off-the-cuff math here.
For a corporation to pay a shareholder a non tax deductible dividend of $1, the corporation would have to earn about $1.60 pre-tax to get that $1 after paying the corporate tax. Yeah, they can't avoid the corporate tax on that $1.60 if they're paying dividends. And they can't deduct the dividend payments from their profits either.
Now Obama wants to tax that $1 dividend at 35% as well, leaving the shareholder with 67 cents after taxes.
So what starts out at $1.60 in corporate profit, the government wants to take 93 cents worth?
Doesn't that seem excessive?
Poor poor corporations, too bad they're not even people.
Stop it
That's Freddie Kruger horror
Yes they are. I'm part of them, and so are millions more Americans.
Why tax the same money twice?
Does your greed know no limits?
Look at the numbers. The most profitable enterprise in this country is government... even if we're talking about oil, gasoline, or tobacco.
And they suck at that too. The deck is stacked in their favor and still they're still flat broke.
Obama is not doing shit to investment income whether it be dividends or cap gains.
The other good thing is every senator is a multi millionaire
They are not about burn their own houses down