Michell Obama's Speech

[tricky]

Originally Posted by xian

No we don't.



And you cannot be denied care based on the ability to pay at ANY publically funded hospital. You have health care.

And your argument is that we should because they do. If they all jumped off a bridge? (which many - including me - would argue they have)

It's not a bridge jumping comparison. It's a it fucking works and it's insulting we don't have a system here. If you work, you pay taxes. If you buy shit, you pay taxes. If you sell shit, you pay taxes. What 'we' are you referring to? The homeless guy on the street? I paid taxes last year on my meager 11k income.

[PETA]

Originally Posted by Deff Gordon

did some research too...

currently it's a 1031 exchange and has to be rolled into "like" property or hit with the 15% CG.

there is a one time exemption right now for people that are not planning on buying any more property and with that exemption they don't have to pay any CG and keep it all. Usually that is used when retiring- 'cause it's a one time thing.

now.. it *seems* Obama is wanting to change that exemption in addition to adding the 13% to what it already is.

and Tricky- i'm not saying our health care system isn't with out faults. it's totally fucked... but universal hc isn't the answer at all. there are tons of docs out there milking the system making a million a year and there needs to be some tweaks on that end as opposed to just blanket pay what they want.

I'm not sure 1031 doesn't apply to businesses only though... I didn't really look into it much... just asked other people who should know more

[PETA]

Originally Posted by tricky

It's not a bridge jumping comparison. It's a it fucking works and it's insulting we don't have a system here. If you work, you pay taxes. If you buy shit, you pay taxes. If you sell shit, you pay taxes. What 'we' are you referring to? The homeless guy on the street? I paid taxes last year on my meager 11k income.

How well it works is subject to some debate....

You got no refund? You got no stimulus check?

$11k is taxed at 15%

then of course you get the standard deduction of $5350 so you had less than $6k taxable.... $900.


I was taxed at 33%

[Deff Gordon]

Originally Posted by xian

I'm not sure 1031 doesn't apply to businesses only though... I didn't really look into it much... just asked other people who should know more

i used to know more about this shit when i was knee deep in finance. a 1031 exchange would be what i (or my 'rents) would use in the sale of property and acquiring new property and exempting myself (or their selves) from the CG tax. of course.. i'm sure you know that already.

[PETA]

Originally Posted by Deff Gordon

i used to know more about this shit when i was knee deep in finance. a 1031 exchange would be what i (or my 'rents) would use in the sale of property and acquiring new property and exempting myself (or their selves) from the CG tax. of course.. i'm sure you know that already.

well - that and on a primary residence (I think) you get to exempt the first $250k off the top. So $250k + amount rolled over in LKE is exempt and the excess probably subject to the tax.

However, I do think a reverse mortgage might work but as I said before that may result in recognized income in the amount paid that over the course of the payments equals a greater hit that just taking the capitals gains hit.

This shit's over my head

[confucius]

Originally Posted by xian

How well it works is subject to some debate....

You got no refund? You got no stimulus check?

$11k is taxed at 15%

then of course you get the standard deduction of $5350 so you had less than $6k taxable.... $900.


I was taxed at 33%

r u saying that his taxable income was taxed at about 50%

and you were taxed at 33%, or am I reading that incorrectly.

Say if I made a 100,000 minus standard 5350, and then someone else made 20,000 minus standard 5350...which would mean that the poor would be essentially poorer due to lack of fundings to offset the portion subtracted to the whole...

11,000 minus 5360 approxiamately equal to 6k times 15% = $900 income tax check

I'm not an accountant, maybe I should ask my father...

[PETA]

Originally Posted by confucius

r u saying that his taxable income was taxed at about 50%

and you were taxed at 33%, or am I reading that incorrectly.

You read it incorrectly.

I said his tax rate was 15%. He said he made $11k. Deducting the stadard deduction leaves a taxable income at less than $6k. 15% of $6k is $900. That was his maximum tax liability exposure.

My tax rate was 33%

Originally Posted by confucius

Say if I made a 100,000 minus standard 5350, and then someone else made 20,000 minus standard 5350...which would mean that the poor would be essentially poorer due to lack of fundings to offset the portion subtracted to the whole...

no. 5k is 20% of 100k. 5k is 50% of 10k. The deduction is proportionately more important to the lower income than to the greater income.

[Deff Gordon]

all i know is that copper goes up

[confucius]

Originally Posted by xian

no. 5k is 20% of 100k. 5k is 50% of 10k. The deduction is proportionately more important to the lower income than to the greater income.

blah, blah, blah...the tax system itself is bias. so your answer is the affirmative!

[PETA]

Originally Posted by confucius

blah, blah, blah...the tax system itself is bias. so your answer is the affirmative!

Yes, the tax system is biased. The more one makes the greater the rate at which one is taxed. Its called a progressive taxation scheme.

[tricky]

I did not get a complete refund of my money so I know I paid taxes.,

[confucius]

the tax increase should cover the health care for all...

[PETA]

Originally Posted by tricky

I did not get a complete refund of my money so I know I paid taxes.,

well, there you go - you're not a homeless bum.... just a bum

[Deff Gordon]

Originally Posted by confucius

the tax increase should cover the health care for all...

yea... which is complete bullshit. the money has to come from somebody. all that would be doing is lining the dr's pockets and not solving anything. robbing peter to pay paul. really stupid idea. like i said, universal health care is NOT the answer.

[PETA]

Originally Posted by confucius

the tax increase should cover the health care for all...

If this is so important to you, why don't you just find some needy person and pay for their health care rather than obligate me to do so? You could just put them on your insurance.