nobody wants to touch it

You're not the only one that gets hit in the bank account at tax time, you know.
You think that because "it matters" to you that you should get special consideration, that only people with more money than you should pay higher rates, as long as it doesn't matter to them? It's all relative. Everyone feels the pain of paying taxes, and everyone wants more money. Even billionaires feel as though taxes affect them. That's why they hire accountants to find loopholes.

You actually have very little idea of my tax situation.

You're not advocating that everyone gets an effective tax increase, are you?  Where the line is drawn?  We're not talking about everyone wanting more money.  We're talking about you advocating that effectively I have less.

And yes, it is all relative.  The cost of living in the Bay Area is much higher than most parts of our nation.  Should we get tax considerations for that?

-Allen

why investment income should be taxed more favorable than ordinary income?

(playing a bit of devil's advocate here, i'm very interested in these tax breaks)

It's a loophole designed to benefit the super rich. They make all their money on capital gains.

All their money?  Yeah, right.

And benefit the super rich?  I'm very thankful for the long term capital gains tax, and I'm not super rich.  It benefits most of us in middle class america.

-Allen

he's a rich guy that cheated on his taxes  hahahhahjahhahhahaah

He did not cheat.

-Allen

I usually don't make such statements, but - you both are wrong.

We just don't know.

Of course, the fact that despite tradition Trump did not show his tax returns does not work in his favor.

BTW, those who are so sure about US institutions, checks and balances - many of them don't have enforcement mechanism and depend on traditions (as in this case with tax returns). It's going to be interesting test...

Innocent until proven guilty.  God bless America.

-Allen

presumption of innocence does not automatically mean one have not committed crime.

But it does mean that you're unfairly asserting that they did.

Just because one says it, doesn't make it true.  Otherwise Obama isn't an American citizen.   

-Allen

Allen, you think a significant amount of a billionaire's wealth comes from their salary? From working long shifts? It comes from stock and equity in businesses. And hey, if mega millionaires and billionaires paid higher tax rates, the rest of us - those us to whom it matters - could pay less.

This has been fun. I'm off to bed. Good night and Happy Thanksgiving!

he's a rich guy that cheated on his taxes  hahahhahjahhahhahaah

He did not cheat.

-Allen

I usually don't make such statements, but - you both are wrong.

We just don't know.

Of course, the fact that despite tradition Trump did not show his tax returns does not work in his favor.

BTW, those who are so sure about US institutions, checks and balances - many of them don't have enforcement mechanism and depend on traditions (as in this case with tax returns). It's going to be interesting test...

Innocent until proven guilty.  God bless America.

-Allen

presumption of innocence does not automatically mean one have not committed crime.

But it does mean that you're unfairly asserting that they did.

-Allen

where? I said you both are wrong and we just don't know.

I did some google for you guys , it was easy

https://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States

Edit: Graph below is 10 years old, things have probably changed since.

Allen, you think a significant amount of a billionaire's wealth comes from their salary? From working long shifts? It comes from stock and equity in businesses. And hey, if mega millionaires and billionaires paid higher tax rates, the rest of us - those us to whom it matters - could pay less.

You said "all their money".  I don't buy it.

Note that I lump salary within "compensations", including actual salary, bonuses, and stock option.  Being here in Silicon Valley, yes, a significant amount of people's wealth here comes from compensation.  They worked for it.

-Allen

I did some google for you guys , it was easy

https://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States

Edit: Graph below is 10 years old, things have probably changed since.

Thanks for pointing out I'm in the 0.7% bracket what's this easy google thing you speak of only if you know what it's called your looking for as well as how to spell it in the first place

he's a rich guy that cheated on his taxes  hahahhahjahhahhahaah

He did not cheat.

-Allen

I usually don't make such statements, but - you both are wrong.

We just don't know.

Of course, the fact that despite tradition Trump did not show his tax returns does not work in his favor.

BTW, those who are so sure about US institutions, checks and balances - many of them don't have enforcement mechanism and depend on traditions (as in this case with tax returns). It's going to be interesting test...

Innocent until proven guilty.  God bless America.

-Allen

presumption of innocence does not automatically mean one have not committed crime.

But it does mean that you're unfairly asserting that they did.

-Allen

where? I said you both are wrong and we just don't know.

Yes, we know that he is innocent until proven guilty.

-Allen

he's a rich guy that cheated on his taxes  hahahhahjahhahhahaah

He did not cheat.

-Allen

I usually don't make such statements, but - you both are wrong.

We just don't know.

Of course, the fact that despite tradition Trump did not show his tax returns does not work in his favor.

BTW, those who are so sure about US institutions, checks and balances - many of them don't have enforcement mechanism and depend on traditions (as in this case with tax returns). It's going to be interesting test...

Innocent until proven guilty.  God bless America.

-Allen

presumption of innocence does not automatically mean one have not committed crime.

But it does mean that you're unfairly asserting that they did.

-Allen

where? I said you both are wrong and we just don't know.

Yes, we know that he is innocent until proven guilty.

-Allen

...and that it does not mean he did not cheat

I guess we are on the same page here

he's a rich guy that cheated on his taxes  hahahhahjahhahhahaah

He did not cheat.

-Allen

I usually don't make such statements, but - you both are wrong.

We just don't know.

Of course, the fact that despite tradition Trump did not show his tax returns does not work in his favor.

BTW, those who are so sure about US institutions, checks and balances - many of them don't have enforcement mechanism and depend on traditions (as in this case with tax returns). It's going to be interesting test...

Innocent until proven guilty.  God bless America.

-Allen

presumption of innocence does not automatically mean one have not committed crime.

But it does mean that you're unfairly asserting that they did.

-Allen

where? I said you both are wrong and we just don't know.

Yes, we know that he is innocent until proven guilty.

-Allen

...and that it does not mean he did not cheat

I guess we are on the same page here

Bark up another tree.  To insinuate that someone might be guilty even though not proven is very un-American.  And to put forth an argument on said assertion holds no water in my book ....

-Allen

Looks like the top 10% pays about 50% of all taxes already?

Bushy

he's a rich guy that cheated on his taxes  hahahhahjahhahhahaah

He did not cheat.

-Allen

I usually don't make such statements, but - you both are wrong.

We just don't know.

Of course, the fact that despite tradition Trump did not show his tax returns does not work in his favor.

BTW, those who are so sure about US institutions, checks and balances - many of them don't have enforcement mechanism and depend on traditions (as in this case with tax returns). It's going to be interesting test...

Innocent until proven guilty.  God bless America.

-Allen

presumption of innocence does not automatically mean one have not committed crime.

But it does mean that you're unfairly asserting that they did.

-Allen

where? I said you both are wrong and we just don't know.

Yes, we know that he is innocent until proven guilty.

-Allen

...and that it does not mean he did not cheat

I guess we are on the same page here

Bark up another tree.  To insinuate that someone might be guilty even though not proven is very un-American.  And to put forth an argument on said assertion holds no water in my book ....

-Allen

OMG. I don't understand what's un-American in keeping options open, but of course your book is your book.

Then they should leave bigger tips for the first three groups