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Old 03-02-2012, 11:15 PM
 
Location: Conejo Valley, CA
12,460 posts, read 20,035,115 times
Reputation: 4365

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Quote:
Originally Posted by native56 View Post
Every dollar that they steal is one dollar less available to grow our business and hire more employees.
This is nonsense, income taxes are paid on profits and wages and investments are tax deductible....


Quote:
Originally Posted by native56 View Post
Pay no attention to the losers who say success is impossible unless you come from a wealthy family or have super genes.
Nobody has claimed that its "impossible", just that wealth is highly correlated with family origin, genes, etc. At some point your income starts to be more about who you are (family, genes, etc) then what you do...
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Old 03-03-2012, 12:12 AM
 
7,150 posts, read 10,866,083 times
Reputation: 3806
Quote:
Originally Posted by native56 View Post
Interesting to see losers say that you can't get rich except by inheritance or by having super genes. Maybe it is hopeless for them. But it does not have to be for you. Do something better than anyone else, work hard at it and keep improving. Find a field where what you are doing is scalable - capable of being expanded. From one barber shop to 5 then to 20 then to 50.

My wife and I started a business with $5000 of our cash plus $5000 more borrowed from her parents. Neither of us came from wealthy families. Neither of us had a college degree. We worked 12-14 hour days for ten years before we could afford to hire good help to take over some of the work load. Our company has created six millionaires. And more to come. That is if we can keep the stinkin liberals from stealing our hard-earned money. Every dollar that they steal is one dollar less available to grow our business and hire more employees.

Pay no attention to the losers who say success is impossible unless you come from a wealthy family or have super genes. That is just bs that they throw out to paint successful people as not deserving the wealth they have earned. They tell you that successful people are just a bunch of lazy investors who lucked into their success.

We are not alone. I know several other families who have achieved success in their fields. And they did it through hard work. Not by getting government hand-outs or by sitting around crying that it is too hard.
This is how you have chosen to spend your precious earthly time?
Those who weigh life's worth by [money] are this world's poorest folks by any measure.
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Old 03-03-2012, 12:55 AM
 
28,110 posts, read 63,531,084 times
Reputation: 23235
Quote:
Originally Posted by user_id View Post



Who is belittling the wealthy? The generation you are talking about is the generation that supported top federal tax rates of 70~90%, those rates weren't decreased until the 1980's when the next generation (the baby boomers) started to gain political power.

So contrary to the picture you are trying to paint the people from that era were more uncomfortable, not less, with wealth and its distribution throughout society.

So let's bring up some of that lovin'....and increase the top federal taxes back up to ~70% and we can increase the state rates while we are at it.
The tax rate didn't kick in till $20,000 at a time when a fair wage was $1200...

And the rate was 1%
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Old 03-03-2012, 09:24 AM
 
Location: Conejo Valley, CA
12,460 posts, read 20,035,115 times
Reputation: 4365
Quote:
Originally Posted by Ultrarunner View Post
The tax rate didn't kick in till $20,000 at a time when a fair wage was $1200...

And the rate was 1%
Huh? What era are you talking about? In 1950 the lowest federal tax bracket was 20% and it applied to taxable income between $0~$18,000 and the top tax rate was 91% and it applied to income above $1,860,000

You have to go back to the 1920's to find federal tax rates in the 1% range, but that period was marked by extreme income inequalities and was followed by the great depression...which is precisely my point here. The generation you are speaking of supported very high tax rates on the wealthy because they saw what happened when you allow the distribution of income to become lopsided. Your story shows the opposite of what you want it to show....
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Old 03-03-2012, 10:37 AM
 
Location: Police State
1,472 posts, read 2,404,797 times
Reputation: 1232
Quote:
Originally Posted by TrueTimbers View Post




This simply boils down to you feel the working class should carry the bulk of the burden, while "entities" should continue to act as cover for wealthy individuals.

No other first world nation takes this approach! Why on earth should we???????????????
Oh, are we done dabbling in the right/left paradigm now? Can we go back to talking like adults?

Well considering mostly everyone works, the "working class" already carries the burden. I'm not sure what you mean by "working class," but I'll take that to mean any person regardless of income who works at a paying job of some sort.
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Old 03-03-2012, 12:15 PM
 
28,110 posts, read 63,531,084 times
Reputation: 23235
Quote:
Originally Posted by user_id View Post
Huh? What era are you talking about? In 1950 the lowest federal tax bracket was 20% and it applied to taxable income between $0~$18,000 and the top tax rate was 91% and it applied to income above $1,860,000

You have to go back to the 1920's to find federal tax rates in the 1% range, but that period was marked by extreme income inequalities and was followed by the great depression...which is precisely my point here. The generation you are speaking of supported very high tax rates on the wealthy because they saw what happened when you allow the distribution of income to become lopsided. Your story shows the opposite of what you want it to show....
Yes... the generation I'm talking about is from the teens and twenties...

And... this is why I said the folks I know that lived through this time bear no animosity to the wealthy... and it is interesting to hear them speak of the well to do... typically it would be so and so had a factory that employed a 100 men... or his company developed a section of town, or built the street car system...etc...

I still use the local Carnegie Library in East Oakland that was built with a grant from one of the wealthiest individuals at the time... the old timers never forgot it was the civically minded wealthy that helped to build parks and libraries and institutions of higher learning as well as employ millions...

The widow across the street is 97... the couple next door just celebrated their 70th wedding anniversary. I'm going to two birthday celebrations this afternoon... first is for a one year old and later down the block for a 95 year old...

Two door up my neighbor is 104 and her daughter, who is still working is 73...

Don't want to bore anyone with the demographics of those around me...

I have posted often most of my circle of friends are seasoned citizens where the depression and WWII was very real and instilled life lessons.

The 104 year old... whose favorite TV show is jeopardy... says each generation thinks they are the only ones to face troubles and if you have been around long enough you see history is continually repeating...

The high tax rates you speak of are only a blip in the history of this country... we have had many times the number of years with no tax or very low tax rates...

Last edited by Ultrarunner; 03-03-2012 at 12:28 PM..
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Old 03-03-2012, 12:36 PM
 
Location: Quimper Peninsula
1,981 posts, read 3,143,714 times
Reputation: 1771
Quote:
Originally Posted by ZhugeLiang View Post
Oh, are we done dabbling in the right/left paradigm now? Can we go back to talking like adults?

Well considering mostly everyone works, the "working class" already carries the burden. I'm not sure what you mean by "working class," but I'll take that to mean any person regardless of income who works at a paying job of some sort.
Yes..
Answer the question...
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Old 03-03-2012, 12:53 PM
 
Location: Police State
1,472 posts, read 2,404,797 times
Reputation: 1232
Quote:
Originally Posted by TrueTimbers View Post
Yes..
Answer the question...
I did. You were speaking as to whether the "working class" should carry the tax burden and I responded that they already do. The top 10% of wage earners account for 70% of the tax burden. And to think there are so many people out there who claim that they should be paying even more.

Amazing.
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Old 03-03-2012, 12:58 PM
 
Location: Quimper Peninsula
1,981 posts, read 3,143,714 times
Reputation: 1771
Quote:
Originally Posted by ZhugeLiang View Post
I did. You were speaking as to whether the "working class" should carry the tax burden and I responded that they already do. The top 10% of wage earners account for 70% of the tax burden. And to think there are so many people out there who claim that they should be paying even more.

Amazing.

This is actually funny.. Thanks for the laugh... Try the question with the question marks...

"Originally Posted by TrueTimbers

This simply boils down to you feel the working class should carry the bulk of the burden, while "entities" should continue to act as cover for wealthy individuals.

No other first world nation takes this approach! Why on earth should we???????????????"
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Old 03-03-2012, 01:39 PM
 
Location: Police State
1,472 posts, read 2,404,797 times
Reputation: 1232
Quote:
Originally Posted by TrueTimbers View Post
This is actually funny.. Thanks for the laugh... Try the question with the question marks...

"Originally Posted by TrueTimbers

This simply boils down to you feel the working class should carry the bulk of the burden, while "entities" should continue to act as cover for wealthy individuals.

No other first world nation takes this approach! Why on earth should we???????????????"
I already answered it.
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