More new millionaires, more wealth... why a taxcut?

Voodoo_Child906

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I must admit that through the glorious market run of Obama and now the first year of Trump, my portfolio has done very well. It looks like the wealthy in the US have as well as Capgemeni is reporting the US has increased it's millionaire count to 4.8 million households!

http://fortune.com/2017/09/28/millionaires-capgemini-world-wealth-report/

Anna Zakrzewski, a partner at BCG, said the share of wealth held by millionaires is growing. BCG expects millionaires will own half of total global private wealth by 2021, up from roughly one-third 10 years ago. It looks like the rich are getting richer and gaining a larger and larger slice of the total worlds wealth... So why do we need a taxcut?
 
Cause wealth redistribution is theft
 
I just played the stock market and did well, what do you think the true 1% were doing to gain all that money and power?

Not everyone is so jealous and makes up lies on the internet bro

Idgaf what the "evil 1%" does
 
Good for you for being financially astute by investing wisely and self sufficient enough to earn capital or endearing enough for loved ones to invest in you to invest in the market.

So, here, how about you keep more of what you obtained. If YOU choose to redistribute YOUR gains to others, feel free!
 
I got it dude, you're a poor hater and need my taxes to live
 
The arguments are back to “it will create economic growth”. We’re back to the trickle down bullshit that people never seem to learn from.
 
The arguments are back to “it will create economic growth”. We’re back to the trickle down bullshit that people never seem to learn from.

What's bullshit about keeping the money you've earned? Why do we even call that "trickle down economics"?
 
Well, if the fourth bracket is included, it will likely change everything.
 
I got it dude, you're a poor hater and need my taxes to live

Since you don't pay any taxes and are on food stamps I don't see how that's possible, not that there's anything wrong with being on food stamps, everyone needs help sometimes.
 
Good for you for being financially astute by investing wisely and self sufficient enough to earn capital or endearing enough for loved ones to invest in you to invest in the market.

So, here, how about you keep more of what you obtained. If YOU choose to redistribute YOUR gains to others, feel free!
As of now the tax reform framework doesn’t impact capital gains. But 401k contributions are on the cutting board so depending on how he’s gained from the market he could end up paying more tax. They want to eliminate or cap tax deductible 401k contributions.

The more you know.
 
What's bullshit about keeping the money you've earned? Why do we even call that "trickle down economics"?
That is a different argument, the other right wing go to. I’m referring to the argument where tax cuts to top earners create jobs and growth. Taxes are stealing hard earned money is the other bullshit argument you guys use.
 
So TS are you saying that capital gains should be taxed more?

If you are feeling guilty that you made money on the stock market, then a good way to address that is to spend that money locally at small business or something like that.

It's generally true that people who have money are more likely to invest in the markets, and that people in the markets tend to make money when the markets go up. Not sure how to get around that though.
 
Since you don't pay any taxes and are on food stamps I don't see how that's possible, not that there's anything wrong with being on food stamps, everyone needs help sometimes.

Okay Mr. Big time stock market but wants to pay higher taxes
 
I must admit that through the glorious market run of Obama and now the first year of Trump, my portfolio has done very well. It looks like the wealthy in the US have as well as Capgemeni is reporting the US has increased it's millionaire count to 4.8 million households!

http://fortune.com/2017/09/28/millionaires-capgemini-world-wealth-report/

Anna Zakrzewski, a partner at BCG, said the share of wealth held by millionaires is growing. BCG expects millionaires will own half of total global private wealth by 2021, up from roughly one-third 10 years ago. It looks like the rich are getting richer and gaining a larger and larger slice of the total worlds wealth... So why do we need a taxcut?

Cause Trump needs to leave his estate to the kids in the near future. Sure the market has done great the last few years, it should have considering it took 1/3 of most 401s in 08.
 
As of now the tax reform framework doesn’t impact capital gains. But 401k contributions are on the cutting board so depending on how he’s gained from the market he could end up paying more tax. They want to eliminate or cap tax deductible 401k contributions.

The more you know.

But I specifically mentioned earning capita (assuming via income) to enter the market with. He will assumingly benefit from that.

I guess until plan is finalized or until TS informs us of his portfolio, it's a nebulous point -- either way, good to keep more of what you have.

I'm sure people will be appreciative when you give them your total gains.
 
Okay Mr. Big time stock market but wants to pay higher taxes

I'm very small time when it comes to wealth in this country but I can see how easy it is for wealth, to bring in more and more and more and compound until eventually only the top few have everything.
 
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