Blue Ridge, GA
Several threads on this already. Levi, where's your cut and paste list? 
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Quoted from pinzrfun:One of my 401k accounts has lost 20 grand this year - when it bounces back I'll have to pay tax on that 20k even though I already did once.
You need to research how a 401K works.
Quoted from Methos:Seriously. Where else can you get the services we do from Government at the cost we do? The value is immense.
Problem is the spending is even more immenser.
I'm good with paying for essential services, but the definition of essential has grown exponentially in the last 70 years.
Quoted from SantaEatsCheese:Let me clarify my concern and how this effects my ability to support my hobby.
One of the items I sold was an Atari 2600 copy of Defender, complete in box with manual. I sold it for about $20 (plus shipping) on ebay. I paid $1 for it an estate sale... so that is $19 in "capital gains" and "personal income". Well, that copy of Defender has already been taxed. I'm using this example, because the handwritten receipt for it from 1982 for $64.95 plus tax, was in the box. Taxes were paid on that item, at a higher rate mind you, before I was born that helped support the fall of the Soviet Union. Everything I purchased and sold was already taxed in the 1980s. The items I'm selling largely went to video game resellers from what I could tell based off of addresses, where I'm sure taxes will be collected at a retail establishment. The models will probably be consumed by the buyers. So these items are now being taxed 2 or 3 times. On top of that, the 1099 makes it an absolute pain. I will probably end up spending more time on paperwork than I did buying, selling, wrapping, and shipping by the time I'm done.
I'm going to probably continue using ebay this year because I'm already comitted to the 1099 but I'm done December 31st. Invest/short sell accordingly.
Couple of things to unwind.
Your $19 is taxed either as capital gains OR personal income based on the length held and asset class, not both.
Second, sales taxes are not paid On items. Sales Tax is a tax on the transaction and is based on the value of the transaction.
So products are not 'really' taxed multiple times. A little esoteric I know.
Quoted from Methos:hypocrites - all of them.
So Elon’s $11b in taxes is hypocritical?
You are right no one needs $200k. In fact millions of people in the US live on a fraction of that. Billions in the world live on less that 10% of that.
But all of the conveniences you have an most of the necessities you have were produced because someone wanted more than $200k.
Quoted from Methos:The inequity in this country continues to be the worst in the world
You’ve never been to India or China have you.
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