Devo182
"Well Known Member" TWSS
- Joined
- Jan 25, 2015
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One other way to look at it. You've saved 10k and decide to start a small business. You take all the risk and earn 5k your first year. This will all be taxed as regular income, along with 15.3% employment taxes.I hate that crap too, I have always understood it, but until I actually got some capital to invest it dodn't mean much to me...talking to my EJ person the other day and she was explaing a lot if stuff and it hit me...I said...So I take all the risk, with money that has already been taxed before, and the government gets a piece? That is some bullextortion right there.
If, instead, you invest in a business and earn the same 5k off your 10k investment (passively), you should pay zero taxes?
Some think capital gains are "double taxed" when this is completely untrue. It is no different than the risk in starting your own business, while plenty of peoples' capital gains are earned off their inheritance, previous capital gains, etc. At the end of the day, there is no "hard earned money" being taxed twice.