I think we should redefine rich as $170k or more

[Lithium381]

If obama wants to raise taxes "on the rich" i think the cutoff point should be $170k. New taxes will be based on gross income, ie you're not allowed deductions.

 

[Blackjack200]

I think Obama should take your computer away.

 

[Macamus Prime]

Tax the people who make $25K to $45K - like 90%. I mean, they use all that money to buy drugs anyway! Why let them have drug money?!

 

[dank69]

I gross 169,999 and I approve this message. Next year when I get a raise I will change my mind because it is class warfare.

 

[Apple Of Sodom]

Bahahaha at the idea that $170K/year is rich. Trust me, it is not. Well off? Sure. Doing better than most? You bet. Filthy stinking rich and never have to balance a check book or worry about money? Far from it.

 

[spidey07]

Well according to Obama it's 200k, so you're not that far off from his policies.

 

[dullard]

Bahahaha at the idea that $170K/year is rich. Trust me, it is not. Well off? Sure. Doing better than most? You bet. Filthy stinking rich and never have to balance a check book or worry about money? Far from it.

Since when does rich = stinking rich and never have to balance a check book or worry about money?

If your engine runs rich does that mean you are burried in gasoline and never have to fill up your gas tank again? Or does it mean you have a bit more inflow of fuel than absolutely necessary?

 

[Nintendesert]

We should just tax the uber rich like the Kardashians and other celebrity trashers like 90+%.

 

[Infohawk]

Per taxpayer or per household?

We need some more tax brackets at the top. I don't think people making $250 per household should see their taxes go up too much at this point. People making over 1 million I'm fine with taxing more. And we need to match up capital gains taxes with regular income taxes.

 

[dank69]

Bahahaha at the idea that $170K/year is rich. Trust me, it is not. Well off? Sure. Doing better than most? You bet. Filthy stinking rich and never have to balance a check book or worry about money? Far from it.

I don't make over 170k and I don't have to balance a checkbook or worry about money. Maybe you are doing it wrong.

 

[Apple Of Sodom]

I am a hard working business man. I have a day job and am the sole proprietor of a tech company. I do almost all of my own work, with help from a 1099 contractor that I pay in excess of $40/hour. I make gross somewhere around $500K/year and don't outsource, play dirty, or try to hide my money. I just sell my ass off and provide excellent service and support. I end up paying somewhere around $100K+/year in taxes.

Someone - please explain how I am abusing the system and how it is fair that I pay so much when I truly use so little.

HENRYs (high earner not rich yet) are NOT the problem. The problem are these bastards making millions of dollars in capital gains, only paying 15% tax, and unfairly lowering tax burden by writing off their jets, yachts, ski trips and vacation homes. The people who can afford to have 50 CPAs on staff to lower their tax burden and find loopholes need to be targeted, not the high earners.

 

[dank69]

I am a hard working business man. I have a day job and am the sole proprietor of a tech company. I do almost all of my own work, with help from a 1099 contractor that I pay in excess of $40/hour. I make gross somewhere around $500K/year and don't outsource, play dirty, or try to hide my money. I just sell my ass off and provide excellent service and support. I end up paying somewhere around $100K+/year in taxes.

Someone - please explain how I am abusing the system and how it is fair that I pay so much when I truly use so little.

HENRYs (high earner not rich yet) are NOT the problem. The problem are these bastards making millions of dollars in capital gains, only paying 15% tax, and unfairly lowering tax burden by writing off their jets, yachts, ski trips and vacation homes. The people who can afford to have 50 CPAs on staff to lower their tax burden and find loopholes need to be targeted, not the high earners.

Are you having trouble getting by on 400k free and clear a year? Would you be roughing it on 350k? Would you be willing to invest more on 450k? How many supermodels do you have draped on your arms on any given friday night?

 

[Apple Of Sodom]

I don't make over 170k and I don't have to balance a checkbook or worry about money. Maybe you are doing it wrong.

No, I am being responsible. I worry about funds and the possibility of work drying up, worry about investments. I can't go out and pay cash for a new Rolls. That is rich.

You think Warren Buffet worries about this shit? No. He is sitting on so a lot of money and if he never "worked" a day in his life again he would be set.

 

[Lithium381]

We should just tax the uber rich like the Kardashians and other celebrity trashers like 90+%.

Baseball players with their 25+ million dollar contracts and such?

 

[Patranus]

How about the "progressives" stop playing class warfare and start addressing the real problems of this country?

 

[Apple Of Sodom]

Are you having trouble getting by on 400k free and clear a year? Would you be roughing it on 350k? Would you be willing to invest more on 450k? How many supermodels do you have draped on your arms on any given friday night?

I'm not having trouble, no. But it is by no means rich. I live a great life, but it doesn't mean I sleep on a mattress full of money. I am penalized in certain ways. I don't get a lot of deductions others get. I cannot contribute to an IRA because of income limits. I pay a shit ton in taxes.

Seeing how the median income for the entire earth is around $7,000/year, maybe everyone who is making more than that should contribute to those less fortunate. Could I live on $350K? Certainly. $200K? Yep. $50k? Yes, although lifestyle habits would need to change. My point is, we can ALWAYS look at someones income and drop a few bucks off it. Oh, if you can make it by on $45K/year, SURELY you could make it by on $44K/year...

 

[JTsyo]

Baseball players with their 25+ million dollar contracts and such?

Yes, the guys that end up broke after playing should be taxed at 90% and then they can get 100K per year for retirement. win/win :whiste:

 

[dank69]

I'm not having trouble, no. But it is by no means rich. I live a great life, but it doesn't mean I sleep on a mattress full of money. I am penalized in certain ways. I don't get a lot of deductions others get. I cannot contribute to an IRA because of income limits. I pay a shit ton in taxes.

Seeing how the median income for the entire earth is around $7,000/year, maybe everyone who is making more than that should contribute to those less fortunate. Could I live on $350K? Certainly. $200K? Yep. $50k? Yes, although lifestyle habits would need to change. My point is, we can ALWAYS look at someones income and drop a few bucks off it. Oh, if you can make it by on $45K/year, SURELY you could make it by on $44K/year...

I am curious, if you don't mind me asking, what kind of lifestyle changes would you have to make if you suddenly cleared only 350k/yr?

 

[xBiffx]

I am curious, if you don't mind me asking, what kind of lifestyle changes would you have to make if you suddenly cleared only 350k/yr?

I am curious, what business is it of yours what he does with his money? Who are you to judge whether or not him buying a car, boat, or plane is right or wrong. People really need to butt out of other people's lives/business and start appreciating their own. This would fix half of the problem. "Thou shall not covet thy neighbor's goods" are fine words and I am about as agnostic as they come before you try going down that road.

 

[Apple Of Sodom]

I am curious, if you don't mind me asking, what kind of lifestyle changes would you have to make if you suddenly cleared only 350k/yr?

I meant lifestyle change for $50K. Even for $200K. $350K? Probably not very much. I understand the utility of the dollar, and that me losing $50K/year is much more detrimental than Joe the Plumber even losing $10k/year... What changes would I make? I would sell one of my cars, probably. It is a luxury summer car I don't really need...but worked for.

However, I work hard for that money. I take on a lot of risk, headache, and spend a good amount of time working. While I can afford vacation, I cannot afford to be away from my phone/e-mail for very long. I've made trade-offs. For someone to tell me that they want to take another $50K is a slap in the face because *I* fucking made that money. *I* sat in my hotel on vacation trying to rectify problems, not them. *I* worked late for 2 weeks straight on a project, not them. Who the fuck are they to come along and say $350K is enough. And then what? $300K would be enough, surely...

This thought process can be extended the other way, of course. Who am I to say the billionaire's should be taxed more? I'm not, really...I'm just advocating for them to have the loopholes closed. I don't write off my luxury car as a business expense, even though for 5 months of the year I use it for business. I don't find phony reasons to visit vacation spots and write the trips off.

Increase capital gains taxes. Close loopholes. Make it so your $55 million jet isn't deductible. THEN we can talk about taxing me a little bit more.

 

[randomrogue]

I think politicians are winning. They have all of you preaching "rich" vs "poor" and making you pick a "team". Left and right. Rich and poor. It completely distracts you from the real problem: The politicians aren't doing their job.

 

[Apple Of Sodom]

I am curious, what business is it of yours what he does with his money? Who are you to judge whether or not him buying a car, boat, or plane is right or wrong. People really need to but out of other people's lives/business and start appreciating their own. This would fix have of the problem. "Thou shall not covet thy neighbor's goods" are fine words and I am about as agnostic as they come before you try going down that road.

This is what happens when you start making more money...you get acclimated to it. You find a new normal. It would also happen if you started making less money. What I consider normal is not normal for someone making $100K, which in turn is not normal for someone making $30K. How do I know? Because I wasn't just given a half-a-mil job. I've been that guy. I've been the broke college student.

At $30K, $20 dinner at Taco Bell is a bit expensive and you bring a coupon for a free taco. You would never spend $150 on food at an expensive restaurant!
At $100K, an occasional $150 dinner and night out is great. You don't worry about it.
At $500K, $150 dinner several times per month is normal.

$30K, you drive a used Focus.
$100K, you drive a 3-series BMW.
$500K, you drive an S class Benz.

And I'm sure at a few million, thousand dollar bottles of wine, new Bentleys and flying in a chartered jet is pretty normal.

Do I want to make less? No. Does more money make me happy? Not really. It makes life easier and I get nicer things, but now it is pretty normal and I've become acclimated. But should someone take my money from me because someone else drives a focus and I drive a Benz? No... when they take the same risks as I do, have the same luck I do, and work the same hours I do, they can afford their S550.

 

[dank69]

I am curious, what business is it of yours what he does with his money? Who are you to judge whether or not him buying a car, boat, or plane is right or wrong. People really need to butt out of other people's lives/business and start appreciating their own. This would fix half of the problem. "Thou shall not covet thy neighbor's goods" are fine words and I am about as agnostic as they come before you try going down that road.

It is none of my business, hence the 'if you don't mind me asking' part. He is free to not answer just as I am free to ask. I also did not judge him, although I think it is odd that he cannot afford to pay cash for a RR. However, I don't know how many years he has been making that sort of cash, so maybe he will be able to in a few years.

 

[Lithium381]

This is what happens when you start making more money...you get acclimated to it. You find a new normal. It would also happen if you started making less money. What I consider normal is not normal for someone making $100K, which in turn is not normal for someone making $30K. How do I know? Because I wasn't just given a half-a-mil job. I've been that guy. I've been the broke college student.

At $30K, $20 dinner at Taco Bell is a bit expensive and you bring a coupon for a free taco. You would never spend $150 on food at an expensive restaurant!
At $100K, an occasional $150 dinner and night out is great. You don't worry about it.
At $500K, $150 dinner several times per month is normal.

$30K, you drive a used Focus.
$100K, you drive a 3-series BMW.
$500K, you drive an S class Benz.

And I'm sure at a few million, thousand dollar bottles of wine, new Bentleys and flying in a chartered jet is pretty normal.

Do I want to make less? No. Does more money make me happy? Not really. It makes life easier and I get nicer things, but now it is pretty normal and I've become acclimated. But should someone take my money from me because someone else drives a focus and I drive a Benz? No... when they take the same risks as I do, have the same luck I do, and work the same hours I do, they can afford their S550.

hear hear!

 

[dank69]

I meant lifestyle change for $50K. Even for $200K. $350K? Probably not very much. I understand the utility of the dollar, and that me losing $50K/year is much more detrimental than Joe the Plumber even losing $10k/year... What changes would I make? I would sell one of my cars, probably. It is a luxury summer car I don't really need...but worked for.

...

I am sorry, am I reading that right?