Crunk Times, My friend.....Crunk Times

[Lugnutz 10+ year member]

$250K isn't that much money.
And consider the lifestyle one has set up for themselves...they probably have long term obligations due under the idea that their income wouldn't be reduced.

If you got a job making $250k, bought a nicer house, nicer cars, etc. Then you develop that lifestyle. If a tax increase reduced their "take home" income, then why wouldn't they have to tighten their belts. No, they are going to move to the slums, or buy an old clunker, but they will have to change their spending habits, thus tightening the belt.

The amount extra they will be taxed will be about the cost of an night out so one night they'll have macaroni and cheese instead of a fancy restaurant.

 

[Lugnutz 10+ year member]

Its already been said that $250k isnt realistic and that $150k is likely with his plan. Thus, both my mother and father will both have higher taxes.
Tightening the belt is a term of not having as much freedom as before or as use to...they wont be hurting by anymeans, but still...They worked long and hard for years to get that money. I dont believe that they should have to pay a higher percentage of income because they make more. They already pay more in taxes than you and I combined.

Two newspapers did a study on Obama's tax plan and on average anyone making between 250-600k would pay roughly $12 a year. If they have to tighten their belts over $12 I don't know what to say.

 

[Lugnutz 10+ year member]

But if they worked for GM, they recieve other benefits, correct?

Health care. Don't tell me someone making 250k doesn't get health care.

 

[Lugnutz 10+ year member]

Let's pretend that's accurate.
The question is why? and how does that help long term?

If his family was going without a nice meal because it was going to build a bridge, road, lake, something real, then it would be high value. But if his family is going without the nice meal so another family can buy a big screen TV, then it doesn't seem to provide value.

How do you know it's going to a poor person's TV fund? Do you think Obama invented taxes? Do you think McCain was going to do away with all government programs? People take this redistribution too far.

 

[Lugnutz 10+ year member]

They pay for it. I don't know what a GM worker in the past paid, but the workers here that make that much pay for healthcare, nor do they have a pension.

UAW employees pay for their union dues and partial health care.

 

[Lugnutz 10+ year member]

How can the newspapers reasearch the ways and means in which a person gets that income?
If I hit the lotto and made $250k it's different than if I made it working for wage.

It's a problem with how newspapers define average. The variety of ways people making $250k earn an income is vastly different from the variety of ways people make $50k.

It was on personal income.

 

[Johnny Drama 5,000+ posts]

Two newspapers did a study on Obama's tax plan and on average anyone making between 250-600k would pay roughly $12 a year. If they have to tighten their belts over $12 I don't know what to say.

What is 5% of $350k?

Not to mention 5% of all Capital gains.

 

[Lugnutz 10+ year member]

They pay union dues as well (I have no idea how much they are).
What do you mean "partial healthcare"? Like insurance that gets deducted from my check every two weeks?

They pay for part of their health care. Two hours of pay gets deducted for union dues and health care. It does not equal the full cost and Ford picks up the rest.

 

[Lugnutz 10+ year member]

What is 5% of $350k?
Not to mention 5% of all Capital gains.

Where did you get he was raising taxes 5% //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif He is repealing Bush's tax cuts and restoring them to Clinton levels. Where your parents belts tight in the 90's?

 

[Banana Balls 5,000+ posts]

How did Obama suddenly turn into an African American last night?

 

[Lugnutz 10+ year member]

I see. But do many people make that much as a salary? The reason why I ask is different forms of income are taxed differently; and it's those changes that matter.
For instance, chaning capital gains tax from 1 year to 2 years, even with a costant rate, is a tax increase.

If they don't then it makes Obama's tax increases moot.

 

[Johnny Drama 5,000+ posts]

Where did you get he was raising taxes 5% //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif He is repealing Bush's tax cuts and restoring them to Clinton levels. Where your parents belts tight in the 90's?

They didnt make the money they are making now in Clinton's administration. They were self employed in the Small Business catagory.

Ove teh 8 years of the Bush administration IIRC tax breaks for the wealthy have been in the 5% range and Capital Income cuts were in the 5% range as well.

 

[mokedaddy 5,000+ posts]

It shall be interesting to see for sure.

However the downfall of free enterprise has begun....

 

[Lugnutz 10+ year member]

They didnt make the money they are making now in Clinton's administration. They were self employed in the Small Business catagory.
Ove teh 8 years of the Bush administration IIRC tax breaks for the wealthy have been in the 5% range and Capital Income cuts were in the 5% range as well.

The income brackets went down 3% during Bush. Under McCain, I don't think I should be taxed because my employer gives me health coverage, so I guess we'll be at a stalemate on that one.

 

[mokedaddy 5,000+ posts]

The income brackets went down 3% during Bush. Under McCain, I don't think I should be taxed because my employer gives me health coverage, so I guess we'll be at a stalemate on that one.

See you are only thinking in terms of blue collar workers.

Most have no money in the stock market, nor have worries of inheritance or capital gains, thus think this is fantastic.