Current Events > Fuck the government taxing me.

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Patty_Fleur
02/13/21 12:10:30 PM
#1:


Why do I have to pay taxes for selling stock? It makes no fucking sense. It's my money and I invested it.

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#2
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Solid Snake07
02/13/21 12:14:26 PM
#3:


Oh buddy, you don't have any money, or anything really. The government just let's you pretend like you do so long as you keep giving them their cut.

Welcome to the real world

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Doom_Art
02/13/21 12:15:20 PM
#4:


Tough luck.

pay your fair share, chump.

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Patty_Fleur
02/13/21 12:16:36 PM
#5:


Solid Snake07 posted...
Oh buddy, you don't have any money, or anything really. The government just let's you pretend like you do so long as you keep giving them their cut.

Welcome to the real world

First they tax my regular income. Then they are going to take my money again I earned by smartly investing. Fuck them.

I'm basically their bitch boy.

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yunalenne10
02/13/21 12:16:42 PM
#6:


What State? I lose about 1/3 of my annual salary to the government.

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Damn_Underscore
02/13/21 12:17:17 PM
#7:


that's why holding long term >>> day trading

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krazychao5
02/13/21 12:17:27 PM
#8:


heh, if they didn't tax capital gains, then the rich would never be taxed.

is that what you want?

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R1masher
02/13/21 12:17:30 PM
#9:


Civic duty

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Patty_Fleur
02/13/21 12:18:34 PM
#10:


yunalenne10 posted...
What State? I lose about 1/3 of my annual salary to the government.

I live in Florida.

I've just started buying and selling stocks in January. I've made about $700 so far. I have to keep in mind though they will tax me apparently.

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lww99
02/13/21 12:18:51 PM
#11:


If you didnt come out ahead, you wouldnt have to pay taxes

/s

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krazychao5
02/13/21 12:19:05 PM
#12:


Patty_Fleur posted...
I live in Florida.

I've just started buying and selling stocks in January. I've made about $700 so far. I have to keep in mind though they will tax me apparently.
oh boo hoo ;_;

go cry about not paying state taxes elsewhere

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Patty_Fleur
02/13/21 12:19:54 PM
#13:


krazychao5 posted...
heh, if they didn't tax capital gains, then the rich would never be taxed.

is that what you want?

Yes if it means more money for me.

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DirkDiggles
02/13/21 12:20:03 PM
#14:


The funny thing is that you are teaching our children. Jesus Christ....

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#15
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Damn_Underscore
02/13/21 12:23:29 PM
#16:


Patty_Fleur posted...
I live in Florida.

I've just started buying and selling stocks in January. I've made about $700 so far. I have to keep in mind though they will tax me apparently.

$700 is nothing compared to what you could make holding long term.

The more money you have, the more it makes sense to focus on the short term. Let's say you invested $7000 and you made $700... If you had invested $70 million you would have made $7 million.

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Solid Snake07
02/13/21 12:24:31 PM
#17:


Patty_Fleur posted...
I'm basically their bitch boy.


We all are if it makes you feel better.

As I like to say, I don't even really own my house. Sure I paid for it and get to live here. But stop paying property taxes and the real owners will come and let you know who who really owns it.

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Patty_Fleur
02/13/21 12:25:01 PM
#18:


What happens if I make $5000 this year with my stock investments and I fail to report it? Will I get in trouble?

If I've made 700+ already I'm certain I can reach 5000 buy Dec.

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krazychao5
02/13/21 12:26:17 PM
#19:


Patty_Fleur posted...
What happens if I make $5000 this year with my stock investments and I fail to report it? Will I get in trouble?

If I've made 700+ already I'm certain I can reach 5000 buy Dec.
unless your stock broker is a shady bookie, then yes, you will be in trouble not reporting taxable stock transactions.

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Patty_Fleur
02/13/21 12:28:22 PM
#20:


But is it a crime? Don't they only audit a select few? I'm just a regular ass dude. I should fly under the radar.

If I luck out and make a ton of money of course I will report it though.

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Solid Snake07
02/13/21 12:30:07 PM
#21:


Patty_Fleur posted...
What happens if I make $5000 this year with my stock investments and I fail to report it? Will I get in trouble?

If I've made 700+ already I'm certain I can reach 5000 buy Dec.


You could be audited and have to pay penalties and late fees.

Boss man wants his money and he wants it on time

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krazychao5
02/13/21 12:32:17 PM
#22:


depending on the gains vs your gross income, they would have to audit you in 3 years or forever if it is 25% of income.

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Patty_Fleur
02/13/21 12:33:17 PM
#23:


I'm finally understanding why people commit tax fraud.

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yunalenne10
02/13/21 12:35:12 PM
#24:


Patty_Fleur posted...
I'm finally understanding why people commit tax fraud.
Careful now!

https://www.youtube.com/watch?v=G56VgsLfKY4

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Patty_Fleur
02/13/21 12:37:45 PM
#25:


I'm not saying I will. But God damn. Is disheartening knowing they will take even more of my money.

I'm fucking poor. Stop taxing me.

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Balrog0
02/13/21 12:38:03 PM
#26:


Nice pay up

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CARRRNE_ASADA
02/13/21 12:38:39 PM
#27:


Isnt it 25% for selling only under a year? Seems fair? Dont you have a regular job? Sucks if youre middle class, but imagine the really rich people keeping even more, investing even more and having even more control.

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vigorm0rtis
02/13/21 12:40:23 PM
#28:


https://www.youtube.com/watch?v=cr6eFl7hCiA

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jason19192
02/13/21 12:40:24 PM
#29:


If you don't like taxes, then go live in a island.
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Dark_SilverX
02/13/21 12:40:37 PM
#30:


Liberty

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Patty_Fleur
02/13/21 12:40:50 PM
#31:


CARRRNE_ASADA posted...
Isnt it 25% for selling only under a year? Seems fair? Dont you have a regular job? Sucks if youre middle class, but imagine the really rich people keeping even more, investing even more and having even more control.

Only tax the really really rich people. Don't tax the poor people like me until we become rich.

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bkkorps
02/13/21 12:40:50 PM
#32:


Patty_Fleur posted...
But is it a crime? Don't they only audit a select few? I'm just a regular ass dude. I should fly under the radar.

If I luck out and make a ton of money of course I will report it though.

https://www.propublica.org/article/irs-now-audits-poor-americans-at-about-the-same-rate-as-the-top-1-percent

you are low hanging fruit.

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yunalenne10
02/13/21 12:41:24 PM
#33:


Dark_SilverX posted...
Liberty
Limu Emu!

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Balrog0
02/13/21 12:41:38 PM
#34:


bkkorps posted...
https://www.propublica.org/article/irs-now-audits-poor-americans-at-about-the-same-rate-as-the-top-1-percent

you are low hanging fruit.

That's because of the EITC not investment income lol

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Shablagoo
02/13/21 12:42:32 PM
#35:


Every material comfort in your life was created by other people. Did you personally craft the sewers, the roads, the food that you eat, the utensils you use to eat it? Did you invent the refrigerator? The microwave? The stove? Fire?

Literally hundreds of thousands of people sustain your lifestyle every day.

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bkkorps
02/13/21 12:45:05 PM
#36:


Balrog0 posted...
That's because of the EITC not investment income lol

doesnt mean that OP isnt an easy target. his brokerage is going to report it, and its not hard for a computer to make a quick comparison against OP's tax return to see if it was included. and since OP is poor, he cant afford a lawyer to defend him, or a CPA to try to exploit loopholes.

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krazychao5
02/13/21 12:54:09 PM
#37:


bkkorps posted...
doesnt mean that OP isnt an easy target. his brokerage is going to report it, and its not hard for a computer to make a quick comparison against OP's tax return to see if it was included. and since OP is poor, he cant afford a lawyer to defend him, or a CPA to try to exploit loopholes.
there are no loopholes related to recording investment income lmao

although, if you are single and agi less than 40k after LT capital gains, those cap gains are taxed at 0% 80k for filing MFJ

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#38
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Patty_Fleur
02/13/21 12:57:37 PM
#39:


shockthemonkey posted...
lmao Im a teacher but I dont know if tax evasion is a crime

I've never had a reason to evade taxes because I always get money back.

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bkkorps
02/13/21 12:58:34 PM
#40:


Patty_Fleur posted...
I've never had a reason to evade taxes because I always get money back.

please tell me you dont teach math.

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emblem boy
02/13/21 1:00:39 PM
#41:


I'd rather then tax capital gains higher than income tax higher
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ChocoboMogALT
02/13/21 1:06:42 PM
#42:


What tax bracket are you in?
Florida has no income tax, so you probably have to pay 20-25% of your gains. You're crying over paying max $175 because you sold within a year.

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yunalenne10
02/13/21 1:07:29 PM
#43:


ChocoboMogALT posted...
What tax bracket are you in?
Florida has no income tax, so you probably have to pay 20-25% of your gains. You're crying over paying max $175 because you sold within a year.
Whoa...

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ChocoboMogALT
02/13/21 1:10:28 PM
#44:


Florida, Alaska, Tennessee, Wyoming, Nevada, Washington, Texas, South Dakota, and New Hampshire all have no state income tax.

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ThePieReborn
02/13/21 1:11:42 PM
#45:


Patty_Fleur posted...
I've never had a reason to evade taxes because I always get money back.
This is a beautiful post.

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treewojima
02/13/21 1:12:54 PM
#46:


Yeah, i lived in Florida, there's no income tax nor sales tax on certain items. Boo hoo, pay your fucking gains taxes, you're still literally gaining a profit.
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Drpooplol
02/13/21 1:15:55 PM
#47:


It's a shame someone as dumb as tc is teaching america's youth

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#48
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Number090684
02/14/21 1:43:33 AM
#49:


Solid Snake07 posted...
Oh buddy, you don't have any money, or anything really. The government just let's you pretend like you do so long as you keep giving them their cut.

Welcome to the real world

Yup. Modern day version of slavery.
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SevenTenths
02/14/21 1:56:58 AM
#50:


Guess you should stop investing since you don't want to pay additional tax.

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