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Thread: Politics and religion.

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  1. #1
    Join Date
    Jul 2006
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    Lancaster, PA - USA
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    Quote Originally Posted by Bonny View Post
    I care! Please explain in laymens language so a person can understand what you are saying.
    Just to add a little to what LH said....


    Income tax = What working stiffs understand. A tax paid on money you earn in the traditional way, generally a salary paid by an employer to an employee.

    Capital Gains tax = You buy something (stocks, buildings, companies, etc....) and sell it for a profit. You invested capital and made a gain on that investment by selling it for a higher price than you paid.
    "Unlike most of you, I am not a nut."

    - Homer Simpson


    "If the enemy opens the door, you must race in."

    - Sun Tzu - Art of War

  2. #2
    Join Date
    Mar 2004
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    Quote Originally Posted by Puckstop31 View Post
    Just to add a little to what LH said....


    Income tax = What working stiffs understand. A tax paid on money you earn in the traditional way, generally a salary paid by an employer to an employee.

    Capital Gains tax = You buy something (stocks, buildings, companies, etc....) and sell it for a profit. You invested capital and made a gain on that investment by selling it for a higher price than you paid.
    But then isn't your gain taxed? Isn't that also considered income?

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