Run, Run Millionaires (sales, college, incomes)

[sunshine7793]

Sad times. When envy trumps common sense.

Californians Prefer Millionaires

13.3% and 15.3% state tax rates. Are they nuts?! What person who has sacrificed and worked hard for his success will stand for this? Add to this the top federal rate of 41% (including Medicare and Obamacare tax). Then add sales and property tax, and the never ending potpourri of other taxes and fees.

Are we determined to chase away the people whose hard work and success will be needed to drag us out of the economic hole we are in? Talk about killing the Golden Goose.

[TrueTimbers]

I support the millionaire tax...................

So does Trump.. Wealth is consolidating too rapidly... Not healthy for rich or poor..

How they spend it, now that is another story...

[.highnlite]

Originally Posted by sunshine7793

Are we determined to chase away the people whose hard work and success will be needed to drag us out of the economic hole we are in? Talk about killing the Golden Goose.

This is a belief only held by those that do not understand economics. The Republican switcheroo, from "millionaires" to "job creators" is voodoo economics.

Any society where 1% of the population controls 90% of the wealth is doomed.

[user_id]

Originally Posted by sunshine7793

Are we determined to chase away the people whose hard work and success will be needed to drag us out of the economic hole we are in? Talk about killing the Golden Goose.

Start hanging around some wealthy folks and it will shatter, rather quickly, the notion that their monetary success is due to "hard work", etc. Its largely about family, winning the genetic lottery, etc.

Between the 1930's and the 1980's the top federal tax rates were between 70~90%....

Increasing the top tax rate in California isn't going to drive anybody out of the state, though I'm not so sure it would increase revenue much.

[NewToCA]

I disagree with the tax increase on million plus incomes.

You need to keep in mind what other states have in terms of taxes on that level of income. California will be way out of line here, far in excess of other states.

A bad idea.

[sunshine7793]

"Winning the genetic lottery". What rubbish. The liberal view of success is that it falls into a few fortunate peoples' hands. Or that the successful person stole his rewards from the "unfortunate". This is what they teach our kids in college.

[user_id]

Originally Posted by sunshine7793

"Winning the genetic lottery". What rubbish. The liberal view of success is that it falls into a few fortunate peoples' hands.

What exactly do you find to be rubbish? Do you believe that intelligence has nothing to do with success? Do you believe that intelligence has nothing to do with genetics? Which? I don't know about the "liberal view", but the reality based view is that those that are wealthy aren't wealthy because they "work hard", instead they are very intelligent, they were born into a good family, etc.

Do you work hard? I don't....and yet I make more than the vast majority of Americans.

[EclecticEars]

Originally Posted by user_id

Start hanging around some wealthy folks and it will shatter, rather quickly, the notion that their monetary success is due to "hard work", etc. Its largely about family, winning the genetic lottery, etc.

Between the 1930's and the 1980's the top federal tax rates were between 70~90%....

Increasing the top tax rate in California isn't going to drive anybody out of the state, though I'm not so sure it would increase revenue much.

Ever listen to Dave Ramsey? I have and do. According to him, 90% of millionaires in America today earned their money through hard work and wise investing, not "winning the genetic lottery."

This is where my conservative side really kicks in: LOWER the damn taxes. Yep, that's what Ronald Reagan did during his first term (even though there were very marginal tax increases in his second term). A high marginal tax rate of 15% won't necessarily run all the wealthy out of California since this state does have a lot of sex appeal. However, an increased number will become official residents (minimum of six months and one day of the year) in states like Arizona, Washington or Texas which are more respectful of peoples' earned incomes, and only the wealthiest of the wealthy will be able to continue immigrating here in droves without concern about taxation.

I'll repeat myself: LOWER the damn taxes. I'm a po ******* that paid less than $50 in income taxes to the State of California in 2011. Yes, I'm a poor guy that wants rich peoples' taxes lowered. Forget the notions that the rich "horde" and "stash away" money from the "little man" as the people that believe that are ignorant in that respect. It IS the wealthy, and often self-made (read: small business owners) that create approximately 90% of the jobs in the United States.

NOTE: Why does C-D asterisk s-c-h-m-u-c-k? Aw, haaaaail naaaaaw!

Originally Posted by NewToCA

I disagree with the tax increase on million plus incomes.

You need to keep in mind what other states have in terms of taxes on that level of income. California will be way out of line here, far in excess of other states.

A bad idea.

Agreed!

Originally Posted by sunshine7793

"Winning the genetic lottery". What rubbish. The liberal view of success is that it falls into a few fortunate peoples' hands. Or that the successful person stole his rewards from the "unfortunate". This is what they teach our kids in college.

Agreed!

[EscapeCalifornia]

Originally Posted by user_id

What exactly do you find to be rubbish? Do you believe that intelligence has nothing to do with success? Do you believe that intelligence has nothing to do with genetics? Which? I don't know about the "liberal view", but the reality based view is that those that are wealthy aren't wealthy because they "work hard", instead they are very intelligent, they were born into a good family, etc.

Do you work hard? I don't....and yet I make more than the vast majority of Americans.

Intelligence is useless without hard work. There's plenty of smart people who won't get past mediocrity because they have no work ethic or drive to succeed. Everyone I know with money worked for it.

[18Montclair]

Originally Posted by sunshine7793

What person who has sacrificed and worked hard for his success will stand for this?

Any rich person in the United States that attained their wealth here in the United States who thinks they didnt have any help getting to where they are needs to get over themselves.


Elizabeth Warren on Fair Taxation - YouTube