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does that 15K savings constitute 15K UNEARNED INCOME to you?
Of course it doesn't. That's just plain moonbattery.
Though I wonder what the same posters think of things like the EITC which actually allow a "refund" which is literally greater than the amount of tax you paid.
Some posters have claimed that the Bush tax rates (now the Obama tax rates) which resulted in taxpayers receiving "Unearned income". In other words if you made 500K and your pre-Bush tax law Federal income tax was 150K and after the new tax rates were passed your tax became 135K does that 15K savings constitute 15K UNEARNED INCOME to you?
In my limited understanding of federal tax law, I'd have to say that 135K is just that individuals taxable liability and that the 15K extra income in his pocket. Now, the additional earnings he might receive should he invest that 15K is another story.
Some posters have claimed that the Bush tax rates (now the Obama tax rates) which resulted in taxpayers receiving "Unearned income". In other words if you made 500K and your pre-Bush tax law Federal income tax was 150K and after the new tax rates were passed your tax became 135K does that 15K savings constitute 15K UNEARNED INCOME to you?
Such a model presupposes that the government owns you and all of your labor, and only allows you to keep portions of it as an incentive to continue to be productive. That notion is (and I don't use this terminology much) fundamentally un-American. Anyone arguing it might feel more at home in the Ottoman Empire, where all subjects were indeed considered the property of the Sultan.
I wonder if those individuals would argue that the recent drop in gasoline prices represents BP giving me money?
I agree with your point and the poster who made that claim does believe the government owns all wealth
or if a robber left half way through his crime because you obtained a weapon or the police sirens were heard, the criminal gave you all the stuff he couldn't take with him
ah. Well then the Divine Right of Kings is a better governing system for him, perhaps; and he may want to look to leave this horrid land where the people are sovereign and government derives it's powers from them.
Geeze, get a room already!
Some posters have claimed that the Bush tax rates (now the Obama tax rates) which resulted in taxpayers receiving "Unearned income". In other words if you made 500K and your pre-Bush tax law Federal income tax was 150K and after the new tax rates were passed your tax became 135K does that 15K savings constitute 15K UNEARNED INCOME to you?
Care to show some examples of what is being said? Not that I don't trust you to acurately explain...scratch that, I don't trust you to accurately explain some one else's opinions.
The usual fact-free rant and babble. When you do nothing differently yet $15 grand starts dropping into your lap every April for no apparent reason, you didn't EARN it.
Here you go-its his comment about tax cuts to the rich
OMG PRICELESS-the rich did nothing to EARN those tax cuts.
that sums up your thinking perfectly
Well I know why its a waste of time now to discuss taxes with you
we have to EARN Tax cuts because its not really OUR Money
thanks for the best laugh of the night
And here is the post he was replying to:
In context, he is not saying what you claim. Color me shocked....
Uh wrong as usual
he claimed that a tax cut results in unearned income to the tax payer
the taxpayer earned the money in the first place
Ya whoever said it was unearned income is flat out wrong, you earn every bit of income you make its just that the law requires you to give up a portion of it as taxes. A tax break isn't the government giving you more money its them taking less of your money. Its a simple but as others have pointed out fundamental part of the philosophy behind this and many other countries.
He responded to you saying the tax cut was earned(not the money, the cut), by saying it was not earned. I guess the question is are you intentionally lying to try and score points, or is the problem with reading comprehension?
He responded to you saying the tax cut was earned(not the money, the cut), by saying it was not earned. I guess the question is are you intentionally lying to try and score points, or is the problem with reading comprehension?
From an economic standpoint, these are merely two sides of the same coin. There really isn't a substantive difference objectively.
From an economic standpoint, these are merely two sides of the same coin. There really isn't a substantive difference objectively.
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