Sharpton: You Voted For

[eulesseagle]

The people voted for a socialist agenda and that is what obama is giving us.

Next up: legalizing all illegals. Looks like we will need the influx of more people to help pay for all the new taxes.

[Green Gas]

Just incredible, what a bunch of crap. Sharpton is a walking talking POS.

[Rudy]

If you invest your already taxed money in the stock market, anything you make will now be taxed a second time.

[UNT90]

If you invest your already taxed money in the stock market, anything you make will now be taxed a second time.

This was already the case, unless you are talking about 401k or 457k plans, which I believe are not affected by this bill.

[UNTFan23]

This was already the case, unless you are talking about 401k or 457k plans, which I believe are not affected by this bill.

401k contributions are deducted from your paycheck pre-tax, so when you start drawing those payments after reaching retirement age, you do pay income taxes.

Edited March 23, 2010 by UNTFan23

[UNT90]

401k contributions are deducted from your paycheck pre-tax, so when you start drawing those payments after reaching retirement age, you do pay income taxes.

Yes, but you are not taxed twice, which was the point of Rudy's post.

[KRAM1]

The US is one of the ONLY industrialized nations that penalizes capital formation. Amazing stuff that...there is absolutely ZERO reason to tax interest on savings, dividends and capital gains. NONE! It penalizes people for saving and it slows capital formation in the country...something that is sorely needed at this time. Yet, even now congress is looking to increase the tax on dividends and capital gains. The absolute insanity of that is something to behold.

[UNTFan23]

Yes, but you are not taxed twice, which was the point of Rudy's post.

True and you're not really taxed twice on money put into the stock market. You pay taxes on any capital gains and dividends, but not the initial capital invested when the stock is sold.

[UNT90]

True and you're not really taxed twice on money put into the stock market. You pay taxes on any capital gains and dividends, but not the initial capital invested when the stock is sold.

Well, you are taxed when receiving your paycheck, thus any money you invest in the market has already been taxed.

[Censored by Laurie]

Well, you are taxed when receiving your paycheck, thus any money you invest in the market has already been taxed.

Unless your investment money is taken out pre-tax...as it is with 401K contributions that come via payroll.

[keith]

If you invest your already taxed money in the stock market, anything you make will now be taxed a second time.

And if you spend any of those earnings, it will be taxed a third time. And for those recieving what you spend, they will pay tax on it as income and so on and so on....the government takes a piece of every transaction.

Keith

[UNT90]

Unless your investment money is taken out pre-tax...as it is with 401K contributions that come via payroll.

Hippy laziness. Read the thread.