Biden: Wealthy Americans Must Pay More Taxes to Show Patriotism

[lvjeffro 10+ year member]

Well ant, the rich are around 40% and the common person is around 25% unless the rich person is an idiot... Also when you take into consideration a 250,000.00/year -40%=100k and with the tax breaks non taxible contributions to pension funds/iras and normal deductions they pay around 75k so they make after taxes 175,000.00 Not too bad a living...

And I am sure that with the proper accountant and the tax laws and loopholes it might even be less then what i outlined above...I am not rich so I don't know exactly all of the ins and outs but know enough that pro atheletes pay around 40% taxes... My cousin was a pro baseball player...

Now the average person makes 50k - 25%=12.5k and after deductions and contributions etc...it comes out to about 10K taxed so about 40,000.00 income...

40k is just enough to survive in most of urban america, tax the average guy any more and he will not be able to survive...

Tax the rich another 10% or 25,000.00 and they are still doing well, tax the average guy another 10% and he is starting to get into poverty....See the difference???

 

[Banana Balls 5,000+ posts]

The only solution would be to license people's right to reproduce and that would be looney on the scale of "Ron Paul for president".

//content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

 

[Rashaddd 5,000+ posts]

How is making it getting lucky?
randomly your parents just moved you out of your area to a nicer area? Or did they work hard at it and make smart decisions?

I'm lucky. I'm lucky I have a father who works his *** off to get my brother and I to a better place. I'm lucky he got the breaks that he did, and things worked out in our/his/my favor to get us where we are today. Just because you try to become something, doesn't mean you will. There are plenty of people who spend their whole lives trying to make something of themselves, some are luckier than others...

The sooner you realize the world is not all fluffy white clouds the better off you will be.

the world is a pos...I've seen that since I was like seven...but I've also been in countries like the UAE (dubai), and seen how people actually CAN be kind and help eachother out and make for an overall positive society, even when the people helping are not even that much better off in the first place...

Feel free to care about them all you want. There's nothing you can do about it. There will always be worthless people. That is a fact by design of the human being.



WTF? That's the first time you said that. How in the hell are rich kids getting better education than the poor kids from the government??

Where do schools get the majority of their funding? Property tax dollars in their district. Yes, TECHNICALLY...you could argue that its the parents' money anyway thats going to taxes and then going back into THEIR schools...but its a government service...it should be equally distributed regardless of its source. thats what private schools are for.

 

[Flipx99 5,000+ posts]

Interesting. You really could have a split opinion on this as you realize that you can make cash from being considered "not rich" but your source of income could greatly be punished for being "higher income".
I think you bring up the main point though. You would benefit but do not need it. Poor/middle class, what have you seem to have a problem with being alloted more funds and then using them up and then yelling "the gov't is screwing me". How many people actually paid bills with the stimulus check (redundant question people, how hard would it be for you to say you did pay a bill but how long would it take before you bought something because you had "extra cash)? Very few I'm sure paid bills and didn't buy something soon after.

We as a middle class society complain how the rich are just getting richer while we are getting poorer. Fact is, they are investing and saving and we buy buy buy.

I feeel the same way about the housing bail out.

 

[Pl8er 5,000+ posts]

QFT

I'm not sure if you mean quit freaking talking or quoted for truth //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

 

[Banana Balls 5,000+ posts]

Well ant, the rich are around 40% and the common person is around 25% unless the rich person is an idiot... Also when you take into consideration a 250,000.00/year -40%=100k and with the tax breaks non taxible contributions to pension funds/iras and normal deductions they pay around 75k so they make after taxes 175,000.00 Not too bad a living...
And I am sure that with the proper accountant and the tax laws and loopholes it might even be less then what i outlined above...I am not rich so I don't know exactly all of the ins and outs but know enough that pro atheletes pay around 40% taxes... My cousin was a pro baseball player...

Now the average person makes 50k - 25%=12.5k and after deductions and contributions etc...it comes out to about 10K taxed so about 40,000.00 income...

40k is just enough to survive in most of urban america, tax the average guy any more and he will not be able to survive...

Tax the rich another 10% or 25,000.00 and they are still doing well, tax the average guy another 10% and he is starting to get into poverty....See the difference???

Yes, the difference is that middle class is average, and upper class is getting the crap taxed out of them so they end up average.

Seems logical to me. //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif

 

[Flipx99 5,000+ posts]

Well ant, the rich are around 40% and the common person is around 25% unless the rich person is an idiot... Also when you take into consideration a 250,000.00/year -40%=100k and with the tax breaks non taxible contributions to pension funds/iras and normal deductions they pay around 75k so they make after taxes 175,000.00 Not too bad a living...
And I am sure that with the proper accountant and the tax laws and loopholes it might even be less then what i outlined above...I am not rich so I don't know exactly all of the ins and outs but know enough that pro atheletes pay around 40% taxes... My cousin was a pro baseball player...

Now the average person makes 50k - 25%=12.5k and after deductions and contributions etc...it comes out to about 10K taxed so about 40,000.00 income...



40k is just enough to survive in most of urban america, tax the average guy any more and he will not be able to survive...

Tax the rich another 10% or 25,000.00 and they are still doing well, tax the average guy another 10% and he is starting to get into poverty....See the difference???

And these people cannot move?

And I am not even going to list your flawed accounting analysis errors.

 

[Banana Balls 5,000+ posts]

Where do schools get the majority of their funding? Property tax dollars in their district. Yes, TECHNICALLY...you could argue that its the parents' money anyway thats going to taxes and then going back into THEIR schools...but its a government service...it should be equally distributed regardless of its source. thats what private schools are for.

If it was equally distributed, the poor schools wouldn't get as much money as they do now.

You're arguement dismisses your stance. Rethink that one, captian.

I'm not sure if you mean quit freaking talking or quoted for truth //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

LAWLZ! Considering that you and I are pretty much on the same page in this discussion, it was probably the latter. //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

 

[Pl8er 5,000+ posts]

If it was equally distributed, the poor schools wouldn't get as much money as they do now.
You're arguement dismisses your stance. Rethink that one, captian.

LAWLZ! Considering that you and I are pretty much on the same page in this discussion, it was probably the latter. //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

Ha ha ha! Ok You can never be too sure

 

[Flipx99 5,000+ posts]

the world is a pos...I've seen that since I was like seven...but I've also been in countries like the UAE (dubai), and seen how people actually CAN be kind and help eachother out and make for an overall positive society, even when the people helping are not even that much better off in the first place...

Where do schools get the majority of their funding? Property tax dollars in their district. Yes, TECHNICALLY...you could argue that its the parents' money anyway thats going to taxes and then going back into THEIR schools...but its a government service...it should be equally distributed regardless of its source. thats what private schools are for.

Actually, suburban schools get the lowest % of funding because they display the lowest need.

 

[duece212 5,000+ posts]

the world is a pos...I've seen that since I was like seven...but I've also been in countries like the UAE (dubai), and seen how people actually CAN be kind and help eachother out and make for an overall positive society, even when the people helping are not even that much better off in the first place...

Don't you realize we can't have a country of just middle and upper class? We need a lower class to function as well, no getting around it. Circumstance as well as personal choices dictate which class you are in...its just how it works.

 

[denim 5,000+ posts]

Keep in mind that MANY small businesses are sole proprietors and would fit under the tax increase for ~250k income. Small business is pretty important to the economy so penalizing them is really not a good way to raise more money for the government, IMO. Not all of that money is for them, but the structure of the company appears that way when taxable income is calculated - that is total business income after expenses. Pretty hard to grow a business with current tax rates as a sole prop much less higher rates.

I agree. You should come up to MD and pay our taxes. //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif:laugh://content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

 

[Rashaddd 5,000+ posts]

I'll be back in a few hours if this thread is still goin lol...i got class

 

[duece212 5,000+ posts]

I'll be back in a few hours if this thread is still goin lol...i got class

lies....you have no class

 

[Anthony Collova 10+ year member]

Well ant, the rich are around 40% and the common person is around 25% unless the rich person is an idiot... Also when you take into consideration a 250,000.00/year -40%=100k and with the tax breaks non taxible contributions to pension funds/iras and normal deductions they pay around 75k so they make after taxes 175,000.00 Not too bad a living...
And I am sure that with the proper accountant and the tax laws and loopholes it might even be less then what i outlined above...I am not rich so I don't know exactly all of the ins and outs but know enough that pro atheletes pay around 40% taxes... My cousin was a pro baseball player...

Now the average person makes 50k - 25%=12.5k and after deductions and contributions etc...it comes out to about 10K taxed so about 40,000.00 income...

40k is just enough to survive in most of urban america, tax the average guy any more and he will not be able to survive...

Tax the rich another 10% or 25,000.00 and they are still doing well, tax the average guy another 10% and he is starting to get into poverty....See the difference???

I am not arguing lifestyle, reasonable living or survival.

What I am saying is that the rich pay a far higher percentage that the other tax brackets. Regardless of how much the rich make or they still pay a higher percentage of their income towards taxes. To argue that because the rich make more they can afford to give more does have some credence but it is also a very flawed and unfair system. The entire systems is unfair. The fact that the rich pick up the slack of 80% of the country is just one example of this...

The fact that the poor contribute very little to the system and continue use the majority of the governments public resources that are paid for by the rich, is another example.

And that CPA that is creative enough to find those loopholes and work the system costs me $250 per hour... If I have to spend $20k per year to save $100k per year, just to get to that 40%. I would much rather have H&R block do my stuff for $100 and see that I only had to pay 25% this year, but I guess that is the price I have to pay for the choices I have made that led me to this income tax bracket..