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Topic: In other news ...

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CWSooner

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Re: In other news ...
« Reply #7826 on: August 20, 2021, 09:18:34 PM »
why pick on municipal bonds

there are many not wealthy folks who also invest in them also

there is much more money to be made even after taxes that muni bonds that the rich can indulge in
There are bed effects from people sheltering their income buying municipal bonds.  It encourages profligate spending by the municipalities, for one.  And for another it removes that money from the free market where it would contribute to the economy.  And be taxable.  Too-high marginal tax rates encourage buying municipal bonds.  Maybe if the billionaires couldn't shelter their income in muni bonds, they'd buy some Congressmen to lower the top rates, which aren't being paid anyway.
When marginal tax rates are too high, they aren't paid for the most part.  People at that tax rate generally have the ability to shelter their income by buying things like municipal bonds.
If you look at the huge marginal tax-rate reductions of the Harding-Coolidge years, you find that "the wealthy" were collectively paying much more in both absolute terms and in percentage terms under the lower rates.  And that there was a huge increase in the numbers of the wealthy.  And the debt from WWI was rapidly paid down.
Same thing--to a lesser degree--happened with the smaller Reagan-era tax reductions.  More people were paying the top rate, and they were paying both a much greater absolute amount and a much larger share of income tax revenues.

Make the top marginal tax rate 100%, and virtually no one will let his/her taxable income get to that level.
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longhorn320

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Re: In other news ...
« Reply #7827 on: August 20, 2021, 09:24:57 PM »


Make the top marginal tax rate 100%, and virtually no one will let his/her taxable income get to that level.
nope they will leave the country and take jobs with them
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

longhorn320

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Re: In other news ...
« Reply #7828 on: August 20, 2021, 09:29:35 PM »

When marginal tax rates are too high, they aren't paid for the most part.  People at that tax rate generally have the ability to shelter their income by buying things like municipal bonds.

People buy Muni Bonds with after tax dollars for the most part so I dont understand this logic
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

CWSooner

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Re: In other news ...
« Reply #7829 on: August 20, 2021, 10:00:13 PM »
nope they will leave the country and take jobs with them
The result is the same either way.
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CWSooner

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Re: In other news ...
« Reply #7830 on: August 20, 2021, 10:01:31 PM »
People buy Muni Bonds with after tax dollars for the most part so I dont understand this logic
When a purchase is tax-deductible, you are making it with before-tax dollars.  Municipal bonds are tax deductible.  Or at least they have been historically.  If they are not, that's a change I haven't known about.
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longhorn320

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Re: In other news ...
« Reply #7831 on: August 20, 2021, 10:47:45 PM »
When a purchase is tax-deductible, you are making it with before-tax dollars.  Municipal bonds are tax deductible.  Or at least they have been historically.  If they are not, that's a change I haven't known about.
nope the only tax benefit is the taxability of interest earned in the future

the buying of a muni bond has no affect on your taxable income 
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

longhorn320

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Re: In other news ...
« Reply #7832 on: August 20, 2021, 10:49:20 PM »
The result is the same either way.
I dont agree

just ask New York how many taxpayers theyve lost over high taxes
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

FearlessF

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Re: In other news ...
« Reply #7833 on: August 20, 2021, 10:52:58 PM »
blame the governor and the mayor
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

Cincydawg

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Re: In other news ...
« Reply #7834 on: August 21, 2021, 09:31:28 AM »
I think the fact is when a person is ultra rich, they can avoid ANY tax system legally.  

Let's imagine a wealth tax on just stocks and eqs.  Dude has a billion in say Apple and it doubles, and you tax his billion now at 5%, or $50 million.  Europe has shown you don't raise much revenue this way, in part because he can leave the country, or convert into some other untaxed asset (which would incur capgains), or just pay it, but that means he'd have to sell a portion to pay the tax, which would put a downward drag on the stock price if multiplied out.

The main point for me is that it doesn't appear to generate enough revenue to be worth it.  (And it may be uncon).


Cincydawg

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Re: In other news ...
« Reply #7835 on: August 21, 2021, 10:26:27 AM »
24 photos: Wandering Atlanta's largest public park, now open | Urbanize Atlanta
24 photos: Wandering Atlanta's largest public park, now open | Urbanize Atlanta

Going to visit today or tomorrow, should be interesting, oddly hard to find.  This would be a good challenge for our skyline thread, second photo would be easy.




847badgerfan

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Re: In other news ...
« Reply #7836 on: August 21, 2021, 12:44:12 PM »
Now they are taunting us. What a disaster.

U RAH RAH! WIS CON SIN!

CWSooner

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Re: In other news ...
« Reply #7837 on: August 21, 2021, 12:58:14 PM »
Once we decided to leave, it was going to be a strategic disaster, which will make everything we are trying to do in the world much more difficult, and much more costly in terms of American lives.

The incompetent execution has made it a vast human tragedy as well.
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Mdot21

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Re: In other news ...
« Reply #7838 on: August 21, 2021, 01:05:16 PM »
Now they are taunting us. What a disaster.


Not sure if they're taunting or not, but at the end of the day- it is their country. It's not ours. I'm sure if Mexico had invaded and occupied US territory for 20+ years and were suddenly leaving- we'd be pretty damn happy too. Might be flag planting too. We we're the invaders & military occupiers. We propped up a corrupt and inept government for 20 years. The real disaster was ever going into Afghanistan in the first place under false pretenses- and then staying there for 20 years and spending literally trillions of dollars.

The Afghanistan Papers showed that that US state department diplomats, intelligence, and military officers openly knew and talked about how the "Afghan government" and "Afghan Army" were nothing but a farce, rampant with corruption, and how they were lying to the US public about the war effort- and that it was inevitable that the puppet "Afghan gov't & Afghan army" would fold like a cheap suite whenever America withdrew.

I don't like Biden at all- but he did the right thing in getting the hell out of there. The only mistake was lying to the American people for months prior- telling them Afghanistan wouldn't fall right away if we left. He had the intelligence- he knew it would. They were trying to save face and hope and pray on the odd chance the Afghan gov't and army would hold. They didn't want to admit defeat and force evacuate all Americans, green card holders, and friendlies- AND then withdraw all military forces. That was the grave mistake.

At the end of the day though- we had to GTFO. Doesn't matter if we stayed for 3 more months 3 more years or 30 more years- same result would've happened. Taliban would've came surging back to retake the country like they had it before we ever invaded in 2001.

utee94

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Re: In other news ...
« Reply #7839 on: August 21, 2021, 01:10:30 PM »
The only mistake was lying to the American people for months prior- telling them Afghanistan wouldn't fall right away if we left. .

No.

The incompetent execution has made it a vast human tragedy as well.

Yes.


 

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