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Thread: Long term capital gains and income averaging.

  1. #1
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    Long term capital gains and income averaging.

    Long term capital gains and income averaging.

    Profits due to the sale of anything owned by the seller for at least the full year prior to the sales transaction are granted extraordinary and unjustified tax reductions for their long term capital gain incomes.

    I do not argue that incomes of those who continuously reinvest into and strive to nurture their enterprises are MORE worthy but they are CERTAINLY NOT LESS economically worthy than those who choose to “take the money and run”.

    Income is income; reduced rates for long term capital gains are unjustified.

    //////////////////////////////////////////

    There was an “income averaging” provision within our income tax regulations that mitigated progressive tax rate’s excesses when applied to the filing’s year’s taxable income but only IF the filing year’s taxable income was significantly greater than that of the prior year.

    This tax reduction rewarded but was not limited to wealthy investors or those that sold their homes. It benefitted lottery or quiz program winners, sport or entertainment figures, inventors or anyone else that hit ANY KIND of financial jackpot within the taxable year for which they were filing an income tax return. It compensated those who were lucky or daring or devoted years for study or practice of their chosen professions.
    It was of no particular benefit to those with comparatively level annual incomes; (such as a Buffett, Romney or your mailman).

    I advocate elimination of the long term capital gains tax loophole. If the U.S. Congress’s opinion a similar tax reduction is called for, I suggest restoring the income averaging provisions within our tax regulations.

    Refer to the topic
    ”Capital gains income’s tax discount is unjustified”,
    Posted @ August 27, 2012, last posted @


    Respectfully, Supposn

  2. #2
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    Quote Originally Posted by Supposn View Post
    Long term capital gains and income averaging.

    Profits due to the sale of anything owned by the seller for at least the full year prior to the sales transaction are granted extraordinary and unjustified tax reductions for their long term capital gain incomes.

    I do not argue that incomes of those who continuously reinvest into and strive to nurture their enterprises are MORE worthy but they are CERTAINLY NOT LESS economically worthy than those who choose to “take the money and run”.

    Income is income; reduced rates for long term capital gains are unjustified.
    The reduction for long term capital gains encourages long term investment rather than short term "day-trader" style of investment. Long term investment leads to market stability and growth.
    "Guns don't kill people, people kill people, and monkeys do too (if they have a gun)". -Eddie Izzard

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    And hard, that out of Hell leads up to Light. -Milton

  3. #3
    Join Date
    Jan 2004
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    Quote Originally Posted by snakespit View Post
    The reduction for long term capital gains encourages long term investment rather than short term "day-trader" style of investment. Long term investment leads to market stability and growth.
    A better solution would be to tax stock transactions. We pay sales tax on everything else. No reason stock transactions should be any different.
    If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel, nor your arms. Crouch down and lick the hand that feeds you; May your chains set lightly upon you, and may posterity forget that ye were our countrymen. —Samuel Adams

  4. #4
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    Capitol Gaming is revolutionizing the world of online betting with a laundry list of benefits designed to make it that much more convenient for the average customer.

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