- Joined
- Oct 12, 2005
- Messages
- 281,619
- Reaction score
- 100,389
- Location
- Ohio
- Gender
- Male
- Political Leaning
- Libertarian - Right
Not sure I follow your math, but I know an increase from 36% to 39% is not nearly double. Nor is it a hardship. It will have little to no effect on anything other than the deficit.
1) you didn't read my post
2) if you are paying 36% rate and it goes to nearly 40% that is a ten percent rate increase in the amount of money taken from each additional dollar
3) if your income is mainly investment income (which is taxed twice) your net taxes will double (at least) because your rate will go from 15cents out of every dollar to almost 40Cents
4) you are not able to say if its a hardship or not-you have no idea what those targeted for the dem tax hikes are spending now.
I know several families that have 3 kids in elite colleges and or grad schools. If their income is 400K a year their net income is often in the 250K range after state local and federal taxes and they are pumping out 150K in tuition. a ten or twenty thousand dollar increase in income taxes is going to be a hardship
are you willing to pay a rate of 39.6%?
36 from 40 is 4. 36 from 39 is 3. I'm just saying.
I guess you cannot figure out the difference between a 3% increase in the tax rate versus a 10% increase in the amount of taxes someone pays on each additional dollar.
Let me try this to help you understand
if you pay 36 cents on your next dollar today and 40 cents on that dollar tomorrow how much of an increase is 4 cents? Not 4 percent
So the middle class should subsidize these poor rich folks?1) you didn't read my post
2) if you are paying 36% rate and it goes to nearly 40% that is a ten percent rate increase in the amount of money taken from each additional dollar
3) if your income is mainly investment income (which is taxed twice) your net taxes will double (at least) because your rate will go from 15cents out of every dollar to almost 40Cents
4) you are not able to say if its a hardship or not-you have no idea what those targeted for the dem tax hikes are spending now.
I know several families that have 3 kids in elite colleges and or grad schools. If their income is 400K a year their net income is often in the 250K range after state local and federal taxes and they are pumping out 150K in tuition. a ten or twenty thousand dollar increase in income taxes is going to be a hardship
are you willing to pay a rate of 39.6%?
again the issue isn't just billionaires and its intellectually dishonest for you to constantly frame the debate in that terms
To live off of investment income alone, just the interest and dividends, means you have to have a LOT of money invested.
Figure a 5% withdrawal rate, that means to have $50K a year, you need a million bucks invested. Taking out 5% a year, and a reasonable long term growth rate of 8%, grandma will never run out of money. And hopefully she does that on her own, instead of buying an annuity, which is a ripoff.
So why should we worry about millionaires living off of dividends and interest?
You play with numbers almost as if you understand math. Yes, it is about a 10% RATE increase, but it is only a 4% increase in taxes paid.
now, i do defer to your expertise in things intellectually dishonest
but you have failed to recognize that focusing on billionaire$ to describe the high income category who the "fiscally conservative" republicans insist on providing tax breaks to, while paying for it with borrowed money, exposes the stupidity of the current crop of republicans ... and their adherents
So the middle class should subsidize these poor rich folks?
I don't have much use for your attitude that its ok to keep raising taxes on a small minority just as long as they still have more money than you do
you need to start paying the same tax rate as those you think can handle more and more taxes or you are a hypocrite
GE, Exxon Paid No U.S. Income Taxes in 2009 - ABC News... The most egregious example is General Electric. Last year the conglomerate generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion. ...
[emphasis added by bubba]... Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas. ...
I don't have much use for your attitude that its ok to keep raising taxes on a small minority just as long as they still have more money than you do
you need to start paying the same tax rate as those you think can handle more and more taxes or you are a hypocrite
let's look at an example:
GE, Exxon Paid No U.S. Income Taxes in 2009 - ABC News
here's another: [emphasis added by bubba]
So reworded, The United States' greedy tax policy has driven corporations to other countries. Only a few reasons exist for companies to stay here in the U.S. many of those are going away. Raising, instead of lowering taxes on corporations will only drive them (and any jobs they provide) to other countries quicker.Those low-tax countries are almost anywhere but the U.S. "When you add in state taxes, the U.S. has the highest tax burden among industrialized countries," says Hodge. In contrast, China's rate is just 25%; Ireland's is 12.5%.
The answer can be found in the article you linked.
So reworded, The United States' greedy tax policy has driven corporations to other countries. Only a few reasons exist for companies to stay here in the U.S. many of those are going away. Raising, instead of lowering taxes on corporations will only drive them (and any jobs they provide) to other countries quicker.
I guess you cannot figure out the difference between a 3% increase in the tax rate versus a 10% increase in the amount of taxes someone pays on each additional dollar.
Let me try this to help you understand
if you pay 36 cents on your next dollar today and 40 cents on that dollar tomorrow how much of an increase is 4 cents? Not 4 percent
Sounds to me like you're exploiting the system like a mutha'.
I wasn't aware that people could draw SS and retirement pensions. Sounds like bulllllllllllllllllllllllllllll****. That, or you're defrauding the government. Someone probably needs to look into what you're doing.
Ultimately, I see why you support more taxation. So you can make sure your meal ticket keeps coming in.
How does this policy fit with the Adam Smith's The Wealth of Nations? In keeping with that question, why is our trade balance always negative? We used to be the biggest creditor nation, now we are one of the biggest debtor nations. This makes no sense, Sam Walton used to advertise "American made," now when you enter Walmart or any other store most things are made in China.The answer can be found in the article you linked.
So reworded, The United States' greedy tax policy has driven corporations to other countries. Only a few reasons exist for companies to stay here in the U.S. many of those are going away. Raising, instead of lowering taxes on corporations will only drive them (and any jobs they provide) to other countries quicker.
I also will end up quad dipping while my wife will be double dipping AND enjoying the benefits of a pretty healthy and safe investment portfolio that has been pretty much bullet proof. If you retire from the military...you will at least be double dipping and if you do get a career after military life (a certainty, because retirement from the military really equals 'unemployed').
The thread has centered on tax cuts which is a shame because tax cuts dont have a THING to do with the gap between the rich and the poor. The left clamors for more taxes on the wealthy to pay for more social programs for the crippled and dependent pets that keep voting them in power...but that does NOT create the gap. The poor are not poor because some rich guy or gal is successful. The poor are poor because they FAIL. They failed to prepare, they failed to recover, and now they simply whine about how unfair life is.
When I saw peoples comments that the poor are poor because the rich 'steal' from them, I laughed. I snorted in disgust too...but mostly...I just laughed. When i saw peoples comments that the rich try to make people poor or keep people poor...again...nothing but pure derisive laughter. How people can be that pathetic and stupid is beyond me. I am in the top 5% and if you think I spend even a second devising diabolical and devious plans to keep people poor, then you are sadly mistaken. I WANT people to succeed. I WANT people to get off their lazyu pathetic whiny asses and start doing for themselves and providing for their families (and all those children they create and dont take care of). I WANT them to stop being such a drain on society. I WANT them to be succesful. And some...MANY actually do. Tragically...far too many dont. And thats a tragedy for all of us...because they suffer...the children they invariably spawn suffer...and overall we as a society also suffer. The ONLY people that win with the poor are democrat politicians that exploit their poverty for their votes.
One thing I agree with you on is that tax cuts have little to nothing to do with the gap. Very true.
But the problem isn't envy or lazy poor or any of those easy sound bite answers. Left with no controls, every society will eventually lead to such a division. Keeping a strong middle class doesn't actually happen naturally. But to our system, it is essential that we have one. The greater the divide, the harder it will be to sell the myth of equal opportunity, that anyone can reach the top.
One thing I agree with you on is that tax cuts have little to nothing to do with the gap. Very true.
But the problem isn't envy or lazy poor or any of those easy sound bite answers. Left with no controls, every society will eventually lead to such a division. Keeping a strong middle class doesn't actually happen naturally. But to our system, it is essential that we have one. The greater the divide, the harder it will be to sell the myth of equal opportunity, that anyone can reach the top.
You both are right on so much. But really there are way too many people in this nation feeling that someone should be supporting them. They look to the government for that and that is not right. You do not hand out money just so that people who do not want to work won't.
I also will end up quad dipping while my wife will be double dipping AND enjoying the benefits of a pretty healthy and safe investment portfolio that has been pretty much bullet proof. If you retire from the military...you will at least be double dipping and if you do get a career after military life (a certainty, because retirement from the military really equals 'unemployed').
The thread has centered on tax cuts which is a shame because tax cuts dont have a THING to do with the gap between the rich and the poor. The left clamors for more taxes on the wealthy to pay for more social programs for the crippled and dependent pets that keep voting them in power...but that does NOT create the gap. The poor are not poor because some rich guy or gal is successful. The poor are poor because they FAIL. They failed to prepare, they failed to recover, and now they simply whine about how unfair life is.
When I saw peoples comments that the poor are poor because the rich 'steal' from them, I laughed. I snorted in disgust too...but mostly...I just laughed. When i saw peoples comments that the rich try to make people poor or keep people poor...again...nothing but pure derisive laughter. How people can be that pathetic and stupid is beyond me. I am in the top 5% and if you think I spend even a second devising diabolical and devious plans to keep people poor, then you are sadly mistaken. I WANT people to succeed. I WANT people to get off their lazyu pathetic whiny asses and start doing for themselves and providing for their families (and all those children they create and dont take care of). I WANT them to stop being such a drain on society. I WANT them to be succesful. And some...MANY actually do. Tragically...far too many dont. And thats a tragedy for all of us...because they suffer...the children they invariably spawn suffer...and overall we as a society also suffer. The ONLY people that win with the poor are democrat politicians that exploit their poverty for their votes.
Common sense is your friend, use it.
If you don't have the money to spend, then don't borrow it so you can.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?