How about the "teahadists" stop playing class warfare and start addressing the real problems of this country?
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.
This exactly, there have always been tax loopholes (also in countries in the EU). The issue is to leave enough tax loopholes open as to make the greedy super rich not leave the country but close enough loopholes that the country as a whole has a positive financial balance. I feel that not only in the US but also in the EU it is the case that the super rich can make use of to much tax deduction. The tax system should always be transparent but it is obvious it is not and never can be to hide the always existing loopholes. A tax system without loopholes would make a lot of people very jumpy.
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.
Idiot
Thank you for your constructive input to the thread. If the idea is idiotic please propose an idea? Or do you follow the Democratic playbook of sitting back and just insult the other party and their plans while putting forth nothing viable of your own...?
your plan is fucking stupid and doesnt deserve any kind of credible response.
You are a idiot.
What does him working hard have anything to do with his greed and hate for the country?
I work just as hard, probably harder than him.
great idea, let's penalize success!
great idea, let's penalize the job creators!
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.
I don't post much but honestly this is pretty lame...
There are plenty of people who work far harder than you and make considerably less money, and I would be willing to bet are much smarter also.
To suggest that you somehow deserve what you have earned based off how "hard" you work somewhat makes me laugh, I virtually everyone I know, and have worked with directly doubles the hours you put in, takes less vacation, and probabily cares far more about their job and what they do.
The reality is that most aren't fast tracked or have as many opportunites as a few due, what is the saying or the statistic...the difference between those making 80K and upwards of 300K from an intellignece standpoint is virtually none, rather it is all connection, timing, and persistence.
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.
How about the "progressives" stop playing class warfare and start addressing the real problems of this country?
Class warfare? The rich have been waging and winning it for the last 30 years. Anybody with the sense to pour piss out of a boot should realize that.
http://www.nytimes.com/2011/09/23/o...ial-contract.html?_r=1&partner=rssnyt&emc=rss
Not to mention that the raving about high earners paying more is dishonest. Dems are talking about raising the marginal rate for people making over $250K/yr. It would only affect that portion of income over $250K, so for Apple of Sodom to pay an extra $50K, his marginal rate above $250K would have to go up by 20%, which nobody is advocating. It's really more like 5%, which means he'd pay an additional $12.5K.
Bolsheviks riding in & taking everything he owns, it ain't.
The loudest squealers are those whose enormous incomes are derived from capital gains, dividends, & carried interest provisions in the tax code. Steve Schwarzman recently compared efforts to raise his taxes from 15% to 20% to the invasion of Poland. As a multi billionaire, his sense of entitlement is a bit unseemly.
Apple of Sodom probably pays a higher rate. Go figure.
I would strongly disagree - with hard work and good education anyone can get to 6 figures. Anything over that is luck and great timing, but that doesn't mean that he hasn't earned it.
If that were actually true, a lot more hard working & well educated people would be breaking $100K, but they're not.
I'd kinda agree if you'd said dual income family, but that still approaching the 90th percentile of all filers, joint returns included.
90% of Americans are not poorly educated slackers, at all.
Heh funny. That being said, the focus is always millionaires and billionaires as you claim, but somehow it's HENRYs that get soaked at the end of the day.
When you look at the effective tax distribution of top 400 AGI filers over the last 20 years, you can see an obvious shifts to the left the same years long term cap gains deprogressed.
I'm not sure what your "left" reference means.
Read the link. If rising federal debt is an existential threat, as Repubs claim, the we all need to make meaningful sacrifice. What's meaningful for people at the $25K income level is different for those at the $250K level, obviously, and different again for those at the $25M level & above. When broad swaths of America are asked for sacrifice in one form or another, it's only reasonable to think that sacrifice should be meaningful for everybody.
When Repubs talk about cutting federal spending, they're really talking about cutting the jobs & incomes of many Americans. That's the truth of it. If those people need to make those sacrifices, then those above them in the foodchain need to make some sacrifices of their own, and such sacrifices need to be meaningful.
Paying an extra $12K in taxes on an income of $500K isn't exactly a ball breaker, and doubling Steve Schwarzman's tax rate wouldn't affect his lifestyle in the slightest, or that of his great grandchildren.
Let's tell the truth, OK?
Only 30% of U.S. has a college degree or better and there's a very strong correlation of income and educational attainment. Six figures for an individual falls in the top ~7% roughly and I would bet large parentage of that group is comes from the 30% with college degrees or better.
If you're just an "average" person with a 9-5 job you bring in some $56K a year, so working hard with education for six figures is definitely feasible.
http://en.wikipedia.org/wiki/Personal_income_in_the_United_States
Just admit you're backpedaling, shifting the goalposts. Lots of hard working well educated Americans won't get anywhere near that $100K.
In certain respects, the economy is like a giant corporation- there are only just so many $100K/yr job slots in the organization, and no amount of obfuscation or wishful thinking will change that.
Your $56K figure seems to be a misattribution. From your link, median personal income for all over the age of 25 was only $39.3K.
"Average" is a meaningless term when income is skewed sharply to the tippytop, as in this country.
The massive federal debt of today isn't the result of spending so much as it is of tax cutting, and the enormous and growing inequality of income & wealth is the same, the result of disproportionate tax cuts at the top. It's all been in support of a profound and damaging deception, that of supply side economics, trickledown economics, Reaganomics, Bushonomics. It's the greatest financial deception of all time, one that could only be supported by massive acquisition of governmental and private debt.