Well, there are other ways to get multiple houses. I did not know your tax code made that distinction. So no tax at all on your main house? Capital gains tax on others?
I do think simplicity would help the situation.
Note: I live in a different country where we do not have any income tax at all. That does not mean we do not have similar tax issues and questions though.
If they could actually do this that would be one thing. Somehow I think it will end up hitting the folks without the time, skills, or contacts to find the loopholes.
Perhaps, but I am not so sure. Other things have gone up like crazy too. Cars for instance.
Indeed, but raising the regular income rate that they pay is not going to get the job done.
I get how he does it. What I don't get is how raising the regular income rate and not the capital gains rate will cause someone making the majority of their income as capital gains pay more.
This is such an absurd concept.
In some ways perhaps, but if you bought a $10,000 house in 1960 and basically only maintained it rather than improved it and you sell it today for $300,000 you have not made $290,000 in income/profit in my mind.
Sure, if you could buy the 1960's $10,000 house on the lot next to yours for $10,000 on the day you just sold your house for $300,000 ok, but if that house next door is going to cost you $300,000 then you haven't made a thing. You put one house's worth of money into the house when you bought it in 1960 and you get one house's worth of money out of it when you sell it today.
To treat that as regular income would be a rip off of major proportions.\\all the best,
drew
It sometimes still amazes me when I meet liberals who don't understand that many people who "make $1M" actually don't keep most of it even before taxes because they run sole proprietorships or partnerships
If they don't keep it (i.e., plow it back into their business - and more power to them!), then they shouldn't be taking it out as income, but should instead structure their business accounting differently.
I think his point is that the "gross revenue" of their business is treated as their personal income. Is this really the case and if it is, why do they not incorporate to avoid this "trap"?
all the best,
drew
It sometimes still amazes me when I meet liberals who don't understand that many people who "make $1M" actually don't keep most of it even before taxes because they run sole proprietorships or partnerships.
I see this explanation made often.
Why do they structure their business like this instead of incorporating? Why is this point made without laying out the facts/evidence to back up the point. I have paying some attention for a good while now and have not seen this.
all the best,
drew
Isn't his "official" rate already higher? And yet he is described as actually paying less. If you raise his "official" rate but he ends up paying the same amount as now and so still pays less, how does that help?
I still think neither side of this debate puts all of the cards on the table when explaining their position.
all the best,
drew
"The OED is a descriptivist dictionary, as opposed to a prescriptivist dictionary. That means that the OED includes words that are actually being used, rather than prescribing which words should and should not be used. This means including words that many people object to, but too bad, there are a large number of people who use the word regardless of any official position about the word."
The problem is, we *want* to use slang when we use some of those words. If you go and make it an official word, we just have to start the laborious process of finding and spreading a new slang word all over again... ~;-)
all the best,
drew
"by all ethical and civic standards, its position is unsound"
Well, there is always:
"No taxation without representation"
http://en.wikipedia.org/wiki/No_taxation_without_representation
So, I don't know about Amazon's position, but there exists an ethical reason for not collecting taxes from those who cannot vote.
Oh but it does hold water, even if for some it is only the "Fool me once..." principle.
Your post made me think you might be interested in these two links:
Some thoughts on a "Copyright Offensive"
http://zotzbro.blogspot.com/2007/04/some-thoughts-on-copyright-offensive.html
Packet In's Income Thoughts, plans, possibilities, etc.
http://packet-in.org/wiki/index.php?title=Income
all the best,
drew
"Okay, so my mom uses a program to help her with her quilting. Who in the hell is going to write that for her if no one is paid to do it?"
You. You love your mom, right? ~;-)
Failing that, she and her quilting friends can pay a programmer and have it written as Free Software.
It is possible.
all the best,
drew
Perhaps Palin will switch to be a Democrat and Republicans will "Crowdsource To Vote Palin In Democratic Primaries" ???
Gotta be careful starting these kind of games...
Indeed.
Or:
reallysucks.com
reallytrulysucks.com
reallytrulysucksbigtime.com
superreallytrulysucksbigtime.com
and so on....
Lots of buying to do there... I don't see how such defensive strategies can work... Am I missing something?
"Ninety percent of baseball is half mental." -- Yogi Berra
