XPost: alt.home.repair, uk.d-i-y, alt.sci.physics
From: CFKinsey@military.org.jp
On Tue, 11 Jun 2019 19:41:18 +0100, Rod Speed wrote:
>
>
> "Commander Kinsey" wrote in message
> news:op.z28fvcgdwdg98l@desktop-ga2mpl8.lan...
>> On Tue, 11 Jun 2019 18:35:47 +0100, Rod Speed
>> wrote:
>>
>>>
>>>
>>> "devnull" wrote in message
>>> news:n_PLE.43682$T52.29836@fx35.iad...
>>>> On 6/11/19 9:40 AM, Commander Kinsey wrote:
>>>>>> And if you don't have the money stored in a tax-free IRA, you'll pay
>>>>>> income tax on your losses.
>>>>>
>>>>> Dunno what an IRA is, but all ISAs are tax free AFAIK.
>>>>>
>>>>> Hang on, losses? Surely you pay income tax on your income, not losses.
>>>>
>>>>
>>>> Yah, it's called "Republican taxpayer privilege". The bank pays you 2%
>>>> interest but inflation goes up 3%.
>>>>
>>>> Essentially you have less buying power at the end of the year and yet
>>>> you
>>>> still have to pay taxes on the 2% "gain".
>>>>
>>>> The democrats have lots of slick scams to take money from working
>>>> taxpayers and give it to their lazy welfare constituents.
>>>
>>> And yet only half pay any income tax. Or are you saying that the Dems are
>>> so
>>> clever that they have worked out how to make just Repugs pay income tax ?
>>
>> Who cares about income tax?
>
> In all but the USA, it's the main tax most pay in the first
> world. Only the unemployable dregs like you pay most
> of the tax they pay in the VAT and fuel and sin taxes.
>
>> It's one of only 50 taxes.
>
> What matters is how much you pay in each one.
VAT is 20%! You will eventually spend all you earn, so that's 20% which is
significantly similar to the income tax rate.
--- SoupGate-Win32 v1.05
* Origin: you cannot sedate... all the things you hate (1:229/2)
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