Tax the Rich!

[steveox]

That is really untrue.

If your position is "Give the rich more tax breaks, but lets sock it to the old, the poor, and the middle class" then yes, you can bet your belly button that Republicans will get voted out of office.

But if you say "we all have to share the pain" then you'll get a deal and your Republicans stand a chance of getting reelected.

Remember what Hillary said?

Why should a person on wall street get a tax break but teachers and construction workers dont get a tax break?

That came after Bush sign tax breaks for the wealthy.

 

[ProudLefty]

Remember what Hillary said?


That came after Bush sign tax breaks for the wealthy.

I am not sure that I understand where you are going with that comment?

 

[steveox]

I am not sure that I understand where you are going with that comment?

Well Wall Street people get Tax breaks,, YOU THE ORDINARY GUY GET NO BREAKS!! YOU PAY!!

 

[ProudLefty]

Well Wall Street people get Tax breaks,, YOU THE ORDINARY GUY GET NO BREAKS!! YOU PAY!!

??? Course we do. We all get tax breaks. I have no idea where you are going with this line of comments.

 

[BigRob]

" ...$10,000 a month to cover everything..."!!! For God's sake, calculate what a person making minimum wage and a kid or two makes. You are the most out-of-touch person...wait, then there is Gipper.

Mortgage, cars, insurance, etc etc. $10,000 a month is not a ton of money.

 

[BigRob]

• You mentioned 8% for FICA. Not true. That is capped at $106k
• The Income taxes have generous deductions, meaning their taxable income will be well below $250,000. Probably in the $200k to $225k range.
• The Income Tax is a progressive tax. With today's rates the tax is $52k. With proposed rates it would jump up to $56k. Or less, if you pay any attention at all to your tax liabilities

Here is a calculator so you can try it out for yourself.

http://www.moneychimp.com/features/tax_brackets.htm

If we are going to have a discussion, lets at least have it based upon some where near relevant examples.

If you are going to sit here and pretend that a "relevant" example is one that only accounts for federal income tax, and pretend a person has no other taxes to pay..then there will never be a good discussion on the issue.

 

[Openmind]

If you are going to sit here and pretend that a "relevant" example is one that only accounts for federal income tax, and pretend a person has no other taxes to pay..then there will never be a good discussion on the issue.

I agree with you! It is important to consider all the tax someone has to pay:

For exemple, people who need 100% of their income to survive (the lower middle class, even middle middle class these days!), have to pay taxes (one sort of another, property taxes, sales taxes, transportation taxes, city taxes, country taxes, state taxes, federal taxes, airport taxes, etc. . .) on 100% of their income.

However, people who make so much money that they can select to spend as little as 20 or 40% of their income, and save the rest, will NOT pay taxes on 100% of their income. . .they will have plenty of loopholes to benefit from! AND even the taxes they pay on "dividends" or "long term gain" are a LOT lower than pay role taxes! To begin with, as Proudlefty notes, they will ONLY pay FICA taxes on the first $106,000 of their income.

People on the top 2% of wealth will reach that amount in the first two months or less (much less!) of the year. . .while the other workers will continue to pay that tax EVERY type they get a pay check!

 

[Openmind]

Mortgage, cars, insurance, etc etc. $10,000 a month is not a ton of money.

Okay, if you believe that. . .HOW do you think a person making $5,000 a month manages?

Do you think that person is "just lazy, and if he/she was more willing to work hard, they would make more money?"

Do you have any idea what the average income in America is?

IT is FAR below that $10,000 a month! In fact, only 15% of household income in the US is above $100,000 a year, which is still lower than your "not a ton of money" point of reference!

But. . .obviously, those 85 to 90% of households (not individuals. . .households!) that do NOT make $10,000 a month must be lazy, stupid, or they just want "the government" to take care of them!!!

That's the GOP line!

 

[Openmind]

Ha. Thanks for sharing. I suppose you are new so welcome to the board.

I am fairly new. . .I guess about 30 days new. . .But if I had listened to "some" people, I would already be gone!

I was not exactly welcomed with open arms, and was given the "big bang" statement, called every name in the book, belittled, and promised that I would be gone before my 30 days were over.

Well, I may be new on this board. . .I wasn't born yesterday to internet forums!

So, thank you.

 

[Mr. Shaman]

Well Wall Street people get Tax breaks,, YOU THE ORDINARY GUY GET NO BREAKS!! YOU PAY!!

You just heard-about-that, huh?

*

Not to worry. Obama covered that.....

 

[BigRob]

I agree with you! It is important to consider all the tax someone has to pay:

For exemple, people who need 100% of their income to survive (the lower middle class, even middle middle class these days!), have to pay taxes (one sort of another, property taxes, sales taxes, transportation taxes, city taxes, country taxes, state taxes, federal taxes, airport taxes, etc. . .) on 100% of their income.

So it is your assertion that all those people will be vastly better off by making someone else pay more?

However, people who make so much money that they can select to spend as little as 20 or 40% of their income, and save the rest, will NOT pay taxes on 100% of their income. . .they will have plenty of loopholes to benefit from! AND even the taxes they pay on "dividends" or "long term gain" are a LOT lower than pay role taxes! To begin with, as Proudlefty notes, they will ONLY pay FICA taxes on the first $106,000 of their income.

People on the top 2% of wealth will reach that amount in the first two months or less (much less!) of the year. . .while the other workers will continue to pay that tax EVERY type they get a pay check!

And yet they have still paid the same percent, and the "rich" person has paid in far more in terms of real dollars.

Somehow, you argue that the person paying in less is the one getting screwed?

 

[Mr. Shaman]

Mortgage, cars, insurance, etc etc. $10,000 a month is not a ton of money.

'Tis true!!

HERE'S how Republicans regard a TON O' MONEY.

 

[BigRob]

Okay, if you believe that. . .HOW do you think a person making $5,000 a month manages?

Do you think that person is "just lazy, and if he/she was more willing to work hard, they would make more money?"

No, I do not think such a person is lazy..I think they are being paid according to what the market says they are worth.

As for how they manage, they take out a smaller mortgage, not as nice a car, or they wallow in debt (which seems to be case more often than not).

That said, making me pay more in taxes will in no way change their lives, so it is somewhat bogus to argue about this specific point.

Do you have any idea what the average income in America is?

IT is FAR below that $10,000 a month! In fact, only 15% of household income in the US is above $100,000 a year, which is still lower than your "not a ton of money" point of reference!

I am well aware of that, but the fact remains, if I go out and earn $500,000 a year, why should I have to live on $10,000 a month?

But. . .obviously, those 85 to 90% of households (not individuals. . .households!) that do NOT make $10,000 a month must be lazy, stupid, or they just want "the government" to take care of them!!!

That's the GOP line!

No, that is Democratic talking point about the GOP line. The GOP line is that people should be able to keep more of the money they earn.

The simple fact is this...you can raise my taxes, and it will make zero difference in the life of someone making $40,000 a year.

 

[BigRob]

'Tis true!!

HERE'S how Republicans regard a TON O' MONEY.

Shaman, obviously someone making more will get a larger cut, because they paid the majority of the taxes to begin with.

 

[Mr. Shaman]

I agree with you! It is important to consider all the tax someone has to pay:

For exemple, people who need 100% of their income to survive (the lower middle class, even middle middle class these days!), have to pay taxes (one sort of another, property taxes, sales taxes, transportation taxes, city taxes, country taxes, state taxes, federal taxes, airport taxes, etc. . .) on 100% of their income.

However, people who make so much money that they can select to spend as little as 20 or 40% of their income, and save the rest, will NOT pay taxes on 100% of their income. . .they will have plenty of loopholes to benefit from! AND even the taxes they pay on "dividends" or "long term gain" are a LOT lower than pay role taxes!

REAL AMERICANS say:​

It's Time to Tax Wealth Like Work​