Democrats' tax bill moves toward vote in US Senate

[Gaspar]

Oh!  Happy day!

http://www.reuters.com/article/idUSN1422565120100614

65% to 75% on fund managers.

[Cats Cats Cats]

Oh!  Happy day!

http://www.reuters.com/article/idUSN1422565120100614

65% to 75% on fund managers.

You might want to re-read that. 

[Townsend]

The legislation's so-called carried interest tax proposal would require fund managers to pay the much higher ordinary income tax rate on a majority of their income from managing investors' money.

The Senate version would tax 65 percent of fund managers' income at the higher rate. A tougher House version would tax 75 percent at ordinary income rates.

Currently, they only pay a 15 percent capital gains tax rate on this income, while ordinary income is taxed at a maximum of 35 percent. The top tax rate is set to rise to 39.6 percent in 2011, the year this legislation would take effect.

[guido911]

A trip down memory lane..Reid says paying income taxes is voluntary:

[nathanm]

A trip down memory lane..Reid says paying income taxes is voluntary:

As an attorney who regularly parses words, I'd think you could understand what he's saying, in a legal sense.

[guido911]

As an attorney who regularly parses words, I'd think you could understand what he's saying, in a legal sense.

You cannot be serious.

[Breadburner]

You cannot be serious.

[guido911]

More Reid gems that I guess in a legal sense I do not understand

36,000 lost jobs is good:

The war is lost:

Smelly tourists:

No Negro dialect:

[nathanm]

You cannot be serious.

Yeah, I can't be serious. I'm having to point out to an attorney that the definition one finds for a word or phrase in Black's is often quite different than colloquial use or what one might find in the OED. That's just ridiculous on its face.

In one sense, all taxes are voluntary. You can choose not to engage in behavior that will result in a tax being assessed. However, what Reid (and the IRS) mean is what they've meant since 1913: you compute the amount owed and file your return yourself, rather than it being done for you.

Perhaps you should look up the word "voluntary" in an early 1900s dictionary.

You might also note that I'm not defending the stupid things Reid has said, I'm excoriating your completely asinine interpretation of something he said that wasn't actually stupid.

[guido911]

Yeah, I can't be serious. I'm having to point out to an attorney that the definition one finds for a word or phrase in Black's is often quite different than colloquial use or what one might find in the OED. That's just ridiculous on its face.

In one sense, all taxes are voluntary. You can choose not to engage in behavior that will result in a tax being assessed. However, what Reid (and the IRS) mean is what they've meant since 1913: you compute the amount owed and file your return yourself, rather than it being done for you.

Perhaps you should look up the word "voluntary" in an early 1900s dictionary.

You might also note that I'm not defending the stupid things Reid has said, I'm excoriating your completely asinine interpretation of something he said that wasn't actually stupid.

Nathann channeling Nixon from Futurama:

http://theinfosphere.org/Pain_Monster

[nathanm]

It's OK, this thread was started by a lack of reading comprehension, so it's not like you're the only one.

[Red Arrow]

The accepted meaning of words change over time.  Otherwise I wouldn't have to put the word real in front of trolley so people won't think I mean that bus thing.

[Conan71]

As an attorney who regularly parses words, I'd think you could understand what he's saying, in a legal sense.

You mean like:

Which meaning of "is" are you referring to?

[nathanm]

You mean like:

Which meaning of "is" are you referring to?

No. As far as I know there's only one accepted meaning of the word "is," although there may be colloquial uses I'm not aware of. The word "voluntary" has quite a few different definitions.

[Red Arrow]

People in the public eye should probably not use obscure meanings of words or technical jargon when speaking to the general public or if those speeches are expected to get to the general public.