""It was determined that work activities in the immediate area were likely mistaken for gunshots,"
America, am I right?
"The Tacoma woman who torched five police cars in May 2020 during Seattle protests following George Floyd's murder pleaded guilty, and a judge sentenced her to five years in federal prison."
Geez she should've just tried to overthrow the federal government, she'd be spending way less time in prison
Explain to me how being taxed on your earnings from the sale of stocks, capital (the capital gains tax) is actually an excise tax? That argument makes no sense (from the IRS):
“What is meant by excise tax?
Excise taxes are taxes that are imposed on various goods, services and activities. Such taxes may be imposed on the manufacturer, retailer or consumer, depending on the specific tax.
https://www.irs.gov › businesses › e...
Excise Tax | Internal Revenue Service
More results
What is an example excise tax?
An excise tax is a tax imposed on a specific good or activity. Excise taxes are commonly levied on cigarettes, alcoholic beverages, soda, gasoline, insurance premiums, amusement activities, and betting, and make up a relatively small and volatile portion of state and local tax collections.”
@4 except they are not taxing the transaction but the profit you made from the sale of the asset. That my friend is income. Now if the tax was leveled on the entire amount or was a fixed dollar amount you may have an argument but as constructed taxing “gains” is income. The federal government and every state that has such a tax classifies it as such. No worries though this charade was all part of the plan and the Dems were counting on it getting thrown out so they can get to the Supemes.
@6, 9, fine, let's not raise taxes, let's eliminate government bloat and waste and use the savings from that to fund better things.
Hmm, how about we start with DHS? It's cost us about a trillion dollars since it's inception and it couldn't stop a bunch of domestic terrorist rednecks from storming the Capitol. It's best ideas to fight terrorism were to limit how much shampoo you could bring on a plane and fondle your genitals.
What about DoD? Nearly a trillion A YEAR and we can't win a war.
What about the DEA? Three billion a year and we all know how successful they've been fighting drugs.
With all that savings it would be way harder for the voices in your head to tell you your pocket is being picked.
@5 My point is that semantic hair-splitting is pointless because one can construct an argument around some combination of technical and vernacular definitions of words that breaks either way. But this is a political determination.
The state constitution doesn't say "no income tax". Rather, it forbids a graduated tax - that's the uniformity clause. But there's nothing graduated about capital gains.
@22 yes there is. It only applies to amounts above $250k so there are two tiers which is the definition of graduated. I agree about the uniformity clause which is why the judge threw it out but the constitution also limits the tax to 1% and this is at 7%.
I think the construction of this tax is moot though. It was designed for one purpose and one purpose only. To get challenged and give the supremes an opportunity to reverse the 1930s ruling that income is property. Anything else is just window dressing. On that regard it’s doing exactly what it was designed for and now we just need to wait until the court weighs in. For my part I hope they turn down the case. The legislature are being chicken shits with this amd trying to get the court to do their dirty work.
To be fair, de-institutionalizing the mentally ill preceded Reagan. The 1975 Donaldson decision by the Supreme Court, while just, gave the states (including ours), an excuse to empty out their mental health facilities. I don't recall any of the states stumping up the funding needed to provide care to those they turned out onto the streets.
@36 Toe Tag: Holy SHIT--!!!--the Donaldson decision was signed into law 47 years ago! WTF was the U.S Supreme Court thinking back then? This miscalculation has been further exacerbated by the rise of slasher movies largely following Alfred Hitchcock's Psycho from 1960, spawning the Halloween, Nightmare on Elm Street, and Friday the 13th franchises in the 70s and 80s into the present day. In addition, unaddressed mental health issues are only getting even worse, exponentially with the growing number of addicted homeless people now. This dystopian nightmare cannot be our future.
""It was determined that work activities in the immediate area were likely mistaken for gunshots,"
America, am I right?
"The Tacoma woman who torched five police cars in May 2020 during Seattle protests following George Floyd's murder pleaded guilty, and a judge sentenced her to five years in federal prison."
Geez she should've just tried to overthrow the federal government, she'd be spending way less time in prison
Explain to me how being taxed on your earnings from the sale of stocks, capital (the capital gains tax) is actually an excise tax? That argument makes no sense (from the IRS):
“What is meant by excise tax?
Excise taxes are taxes that are imposed on various goods, services and activities. Such taxes may be imposed on the manufacturer, retailer or consumer, depending on the specific tax.
https://www.irs.gov › businesses › e...
Excise Tax | Internal Revenue Service
More results
What is an example excise tax?
An excise tax is a tax imposed on a specific good or activity. Excise taxes are commonly levied on cigarettes, alcoholic beverages, soda, gasoline, insurance premiums, amusement activities, and betting, and make up a relatively small and volatile portion of state and local tax collections.”
I freakin’ love Sticker Patrol.
@2 The "activity" is selling an asset for more than it cost at purchase. That was easy.
If you're going all according to websters, its certainly not "income". That word refers to pay for work. And IRS doesnt tax it as such.
@4 except they are not taxing the transaction but the profit you made from the sale of the asset. That my friend is income. Now if the tax was leveled on the entire amount or was a fixed dollar amount you may have an argument but as constructed taxing “gains” is income. The federal government and every state that has such a tax classifies it as such. No worries though this charade was all part of the plan and the Dems were counting on it getting thrown out so they can get to the Supemes.
jackkay- You make over $400K?
Who gets to be Smithers?
@6, 9, fine, let's not raise taxes, let's eliminate government bloat and waste and use the savings from that to fund better things.
Hmm, how about we start with DHS? It's cost us about a trillion dollars since it's inception and it couldn't stop a bunch of domestic terrorist rednecks from storming the Capitol. It's best ideas to fight terrorism were to limit how much shampoo you could bring on a plane and fondle your genitals.
What about DoD? Nearly a trillion A YEAR and we can't win a war.
What about the DEA? Three billion a year and we all know how successful they've been fighting drugs.
With all that savings it would be way harder for the voices in your head to tell you your pocket is being picked.
Just a minor point, but, there is no Russian embassy in Seattle. There is, however, a consulate.
"Let's not defund the police, let's FUND the police" was a stupid line.
@14 Yes! Thank you.
@5 My point is that semantic hair-splitting is pointless because one can construct an argument around some combination of technical and vernacular definitions of words that breaks either way. But this is a political determination.
The state constitution doesn't say "no income tax". Rather, it forbids a graduated tax - that's the uniformity clause. But there's nothing graduated about capital gains.
@22 yes there is. It only applies to amounts above $250k so there are two tiers which is the definition of graduated. I agree about the uniformity clause which is why the judge threw it out but the constitution also limits the tax to 1% and this is at 7%.
I think the construction of this tax is moot though. It was designed for one purpose and one purpose only. To get challenged and give the supremes an opportunity to reverse the 1930s ruling that income is property. Anything else is just window dressing. On that regard it’s doing exactly what it was designed for and now we just need to wait until the court weighs in. For my part I hope they turn down the case. The legislature are being chicken shits with this amd trying to get the court to do their dirty work.
"let's FUND the police"
--Smokin Joe
it had 'repubs' on their feet
so: Messenging!
it's what Dems
do not DO.
sadly
he also said: 'let's Train them.'
Not to beat the Citizenry'd
be a Good place to start
To be fair, de-institutionalizing the mentally ill preceded Reagan. The 1975 Donaldson decision by the Supreme Court, while just, gave the states (including ours), an excuse to empty out their mental health facilities. I don't recall any of the states stumping up the funding needed to provide care to those they turned out onto the streets.
@17 is correct.
@36 Toe Tag: Holy SHIT--!!!--the Donaldson decision was signed into law 47 years ago! WTF was the U.S Supreme Court thinking back then? This miscalculation has been further exacerbated by the rise of slasher movies largely following Alfred Hitchcock's Psycho from 1960, spawning the Halloween, Nightmare on Elm Street, and Friday the 13th franchises in the 70s and 80s into the present day. In addition, unaddressed mental health issues are only getting even worse, exponentially with the growing number of addicted homeless people now. This dystopian nightmare cannot be our future.