XPost: alt.home.repair, uk.d-i-y, alt.sci.physics
From: rod.speed.aaa@gmail.com
"Commander Kinsey" wrote in message
news:op.z28s84sjwdg98l@desktop-ga2mpl8.lan...
> On Tue, 11 Jun 2019 21:52:26 +0100, Rod Speed
> wrote:
>
>>
>>
>> "Commander Kinsey" wrote in message
>> news:op.z28l88bywdg98l@desktop-ga2mpl8.lan...
>>> On Tue, 11 Jun 2019 20:44:20 +0100, Rod Speed
>>> wrote:
>>>
>>>>
>>>>
>>>> "Commander Kinsey" wrote in message
>>>> news:op.z28imsizwdg98l@desktop-ga2mpl8.lan...
>>>>> 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,
>>>>
>>>> Plenty of the better paid don't.
>>
>>> Nobody accumulates money forever.
>>
>> Plenty with a clue accumulate it till they stop working
>> and plenty accumulate it and hand it on to their kids too.
>>
>>> If they don't spend it their descendants will.
>>
>> Plenty of their descendents arent stupid enough to spend it.
>
> If what you were saying was true, there would be an ever increasing number
> of people with huger and huger amounts of money.
>
>>>>> so that's 20% which is significantly similar to the income tax rate.
>>>>
>>>> Not with the better paid. Only the dregs of the labour market.
>>>
>>> If you're poor, you pay a low rate,
>>
>> Yes, the dregs mostly do pay just VAT and petrol and sin taxes.
>>
>>> if you're rich, you bend the rules and pay a low rate.
>>
>> Not even possible for most of the better paid wage slaves.
>> Those pay a lot more than 20% income tax.
>
> Nope,
Yep.
> once you get really rich you get accountants that fiddle things nicely.
We werent discussing the really rich.
--- SoupGate-Win32 v1.05
* Origin: you cannot sedate... all the things you hate (1:229/2)
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