Unemployment falls to 7%

No, you are. I said that the FICA is a social security tax. It may be employed by the federal government and hence a federal tax, but it has but one purpose in its law. Again, what elected officials do with it is something completely different. The fact remains that IRS taxes are not paid by the 50. When they file their tax returns any federal withholdings are returned to them. The 1% are allowed deductions, but they pay into IRS taxes.

 

Capital gains taxes are driven by stock market performance. Even a relatively large capital gains tax cut (like in 1997 and 2003) can be offset by a growing market. But lower cap gains tax rates brings in lower tax revenues for the equivalent amount of cap gains income.

 

Again, no they're not with whatever you found. Simply put, if that were indeed the case, then the debt ceiling wouldn't have to be increased. The debt is spending and interest. It is what our tax dollars go toward.

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Wrong, it is a part of it, but any interest is covered under Capital Gains. C'mon man!

Ever hear of selling a home? Investment properties?

 

Now you're just trying to change what you claimed because you've been proven wrong. What you said, multiple times, is a matter of record:

The IRS is responsible for FICA taxes as well. FICA taxes are just as much "IRS taxes" as any other kind of federal tax.

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Employment-Taxes-2

 

What are not with whatever I found?

Again, you are demonstrating ignorance on the budget. The debt ceiling is a function of govt borrowing. Govt borrowing is largely driven by whether the govt runs a deficit and how large. A deficit is a function of both spending and tax revenues.

You can cut spending, but if tax revenues also fall, you may end up with a bigger deficit, and borrowing more.

You can absolutely have a situation where the Govt has cut spending but is still borrowing more money. Which in fact has been the case over the past four years.

What is wrong in your view? Interest is considered capital gains? By whom?

What about it?

 

Please give me some of what you're smoking! Please!

 

BTW, tell me which line the FICA money goes in on for the tax form?

32
Retirement savings contributions credit. Attach Form 8880.
32
33
Child tax credit. Attach Schedule 8812, if required.
33
34
Add lines 29 through 33. These are your total credits.
34
35
Subtract line 34 from line 28. If line 34 is more than line 28, enter -0-. This is your total tax.
35
36
Federal income tax withheld from Forms W-2 and 1099.
36
37
2013 estimated tax payments and amount applied from 2012 return.
37
If you have a qualifying child, attach Schedule EIC.
38
a
Earned income credit (EIC).
38a
b
Nontaxable combat pay election.
38b
39
Additional child tax credit. Attach Schedule 8812.
39
40
American opportunity credit from Form 8863, line 8.
40
41
Add lines 36, 37, 38a, 39, and 40. These are your total payments. ▶
41

 

You're original statement was wrong, that is what was wrong. Interest isn't just from the stock market.

Do you know the taxes one pays for property gains?

 

Wow, I'm going to agree with you. yep you lower the capital gains and you take in more money because people will spend the money and pay the lower tax. Right on! And when they spend more, more product is produced and employers have to hire. Way to go!

 

Form 4137, Social Security and Medicare Tax on Unreported Tip Income
http://www.irs.gov/uac/Form-4137,-Social-Security-and-Medicare-Tax-on-Unreported-Tip-Income

Form 1040-SS, U.S. Self-Employment Tax Return
http://www.irs.gov/uac/Form-1040-SS...redit-for-Bona-Fide-Residents-of-Puerto-Rico)

Form 843 Claim for Refund and Request for Abatement
http://www.irs.gov/pub/irs-pdf/f843.pdf

Form 8316 Information Regarding Request for Refund of Social Security Tax Erroneously Withheld on Wages
http://www.irs.gov/pub/irs-pdf/f8316.pdf

From 8919 Uncollected Social Security and Medicare Tax on Wages
http://www.irs.gov/pub/irs-pdf/f8919.pdf

Just some examples

 

Since I never claimed interest is just from the stock market or anything like it, how could it be wrong?

Depends.

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What "transfer payments" do you claim are not in the figures I cited?

 

Seriously? the tips and self employment documents? Really? That is for people who don't have taxes taken out and for services people who receive unreported tips. These are nothing more then having them report their earned income without taxes being taken out on their earned money and tips as wages so they now pay into the FICA and Medicare programs. I will give you an E for effort on that one. LOL.

 

None of them.

 

Those and other IRS forms are specifically for FICA federal taxes. LOL.

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Why did you dodge the question?

Name those "transfer payments" you think have been excluded and should be included in the data I cited from the CBO and BEA.

 

Because they are not taken out in a payroll check that's why. Again, E for effort.

What did I dodge? I said the transfer payments were not included in the numbers you showed. you showed GDP figures. GDP does not include transfer payments.

 

I suppose one need not reveal oneself to be a complete Communist in order to hold fast to Marxian precepts. From each..to each is sufficient to show where your heart is.

 

Yes. It has been about as long as Progressivism has been around. W. Wilson, T. Roosevelt and FD Roosevelt were all monsters.

We can repair their damage if we win the Article V fight.

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I will pass. There is no point having a discussion with you.

 

We can compare periods of equivalent cap gains returns and see the difference.

Year - Realized LT CG - Taxes paid on CG
1996 - 260,696 - 66,396
2009 - 263,460 - 36,686

We can see that in 1996 and 2009 CG realizations were roughly equivalent, yet taxes paid in 2009 were roughly half the amount paid in 1996.

Same realizations, very different tax receipts.

As one would expect when we had a 28% max CG tax rate in 1996 and a 15% max rate in 2009.

 

"Because they are not taken out in a payroll check that's why" is why the data in my post here was wrong?

Your claim doesn't make a lot of sense to me. Maybe it does to others.

Why should it?

 

Could be. Feel free to show where I ever made such a statement.

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Thanks for sharing your baseless opinions. Maybe there are others who care about them.

 

If I may ask, what is "realized LT"? Is it total revenue received in?

 

C'mon man. Really. So you present forms and then go here. If you're not going to be serious in a discussion, i will stop discussing.

Welfare is spending. It just isn't included in the GDP.

 

It should be total realized cap gains, from this source:

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=161

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Like I said, maybe your comments make sense to others.

Why should it and so what?