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Old 11-28-2011, 06:54 PM
 
1,130 posts, read 2,022,655 times
Reputation: 700

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Quote:
Originally Posted by wolden View Post
Whoa! This article had nothing to do with the "poor" -- did you read it? Unless you think someone owning a house worth 150,000--250,000 is poor?
I read it, and whether it was explicit or not, that was the message...the haves vs the have nots, and somebody who already has everything is getting something that the rest of us don't. It's a popular theme in our country today.
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Old 11-29-2011, 06:40 AM
 
405 posts, read 753,593 times
Reputation: 140
Quote:
Originally Posted by t45209 View Post
I read it, and whether it was explicit or not, that was the message...the haves vs the have nots, and somebody who already has everything is getting something that the rest of us don't. It's a popular theme in our country today.
True, they are probably stirring the pot some, to get more people to buy their paper!
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Old 11-29-2011, 09:18 AM
 
Location: Cincinnati
171 posts, read 294,976 times
Reputation: 116
This whole debate of the top 1% vs everyone else just make me livid. Why does no one ever point out how much the top 1% pay in taxes and use the same services as everyone else. It's not like the top 1% take up a higher percent of the schools, police, roads, etc.

In 2009, the top 1 percent of tax returns paid 36.7 percent of all federal individual income taxes and earned 16.9 percent of adjusted gross income (AGI).

The top-earning 5 percent of taxpayers (AGI equal to or greater than $154,643) paid far more than the bottom 95 percent. The top 5 percent earned 31.7 percent of the nation's adjusted gross income, but paid approximately 58.7 percent of federal individual income taxes.

I don't get why everyone is so mad at the top 1%. They earn it, pay more taxes and still get the burden. I wish someone could explain it to me. It seems we no longer aspire to earn more, but rather envy the ultra rich and expect them to pick up the bill for those who are not as successful.

fyi...people spend way more than 10k a year in Hamilton county who live here. My family spends at least triple that in a year, if not more. I have no answers (and not enough knowledge about the stadium tax). I'm not sure even what my rollback is on the stadium tax. The one thing I always felt was unfair is why should Hamilton county residents pay for all of the stadium? When I lived in Warren County I still used the stadium as much as I do now that I live in Hamilton County (we are Bengals season ticket holders).
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Old 11-29-2011, 10:13 AM
 
Location: Mason, OH
9,259 posts, read 13,358,349 times
Reputation: 1919
Jen35... Perhaps a better question would be why should the public be paying for the stadiums at all? Both teams are profit oriented organizations, so why are they not paying for their own facilities? Let's make it simple, because of the claimed total economic impact they have on the area. This is a ruse used all over the country to get voters to agree to pay for facilities for professional, profit oriented, sports teams. Build us a new stadium, etc. or we will leave for somewhere who will.

I will take issue with your claim of spending $30K a year in Hamilton County on sales taxable purchases. Not saying you don't spend that amount in Hamilton Country, just question whether it is all sales taxable. I will pretty well guarantee you the average Hamilton Co. resident does not spent $30K in sales taxable expenditures.

The question herein is not concerning the top 1% as you put it. It is simply one issue, that many people are receiving a property tax rebate far exceeding the 0.5% stadium sales tax they pay on purchases in Hamilton Co. This is independent of any other tax issue. Don't forget, this is not total sales tax paid, but only the 0.5% stadium sales tax for which the property tax rebate was intended. As I stated earlier, the original intent was to have non-Hamilton Co. residents pay for the stadiums via the 0.5% stadium sales tax, while county residents got reiumbursed via property tax rebates.

So Hamilton Co. residents were not supposed to actually pay for the stadiums, but people from outside of the county. So when you lived in Warren Co. it was what you spent in Hamilton Co. with the 0.5% stadium sales tax which paid the bill.

Of course, like everything else politicians do it was based on increasing revenues. Since that has not materialized, Hamilton Co. is facing a shortfall on paying for the stadiums but is still liable for the bill. So how do you propose they get out of this bind? Where is the money to come from? All we are saying here is restructure the property tax rebate to be more in line with the sales taxable amount spent in Hamilton Co. Not a so difficult concept. It is not a total solution, but may reduce the deficit.
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Old 11-29-2011, 11:46 AM
 
Location: Cincinnati
171 posts, read 294,976 times
Reputation: 116
I have a family of 4 and we do most of our spending locally. So, when I was in Warren county, I mostly shopped in Lebanon, South Lebanon and Mason. Now that I'm in Hamilton county, I mostly shop in Hamilton County. Considering clothes, household goods and eating out, I would say 30k is correct per year.

Like I said before, I have no solution for the issue. I was just supporting someone else's claim that people who have a more expensive house than 250k probably spend more than 10k/year in the County.

With that being said, I don't think once again we need to put all the burden on the wealthier home owners. Lots of people benefit from the Bengals/Reds and they don't all own houses over 250k within Hamilton Co.

I think it's useless to claim that the public shouldn't pay for the stadium as it's already done. It was voted on, and nothing can be done to take it back. I think people are crazy to think that we don't see revenue due to having 2 professional sports teams in town. Downtown sees a huge lift when either team is in town. Head out to the Holy Graile while the Reds are in town and you will see it. Families like mine, drive downtown, pay for parking and eat lunch out. Vendors are selling shirts, drinks etc. Hotels are filled up with out of town visitors spending money in our city. I just think it's not quantifiable how much money is brought into a city by professional teams. Not only that, but team payrolls are huge. You are adding 55+ multi millionaires to the area for the Bengals alone. They are paying crazy amount of taxes to the city for their paychecks and have to live somewhere locally (at least during the season). As they are all young, I imagine they pump a ton of money into the economy with eating out, buying crazy amounts of whatever they want, etc.

I would love to see a fix, but I hope it will impact everyone in the region and not just hit the wealthy of Hamilton Co as we always seem to turn to the rich to bail out everyone's money issues.
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Old 11-29-2011, 04:14 PM
 
405 posts, read 753,593 times
Reputation: 140
Quote:
Originally Posted by Jen35 View Post
I don't get why everyone is so mad at the top 1%. They earn it, pay more taxes and still get the burden. I wish someone could explain it to me.
There's two ways to look at it: what percent they pay or how much total money they pay. For example, Warren Buffet pays much less percent tax than me, because I have to pay payroll taxes and he makes most of his money on investments. But, of course, he pays a lot more total than me.

There is not a good way to resolve these two points of view. Some people simply believe a progressive tax (pay more the wealthier you are, i.e. the income tax rate rises to a cap with earnings) is just wrong-- you seem to be in that camp.

But the very very wealthy are a different matter. They can spend millions each year to exploit loopholes to enable them to avoid taxes altogether. (Corporations can do the same thing) That is the sort of thing that I think is unfair. Here is a recent example:

"When billionaire Billy Joe “Red” McCombs, co-founder of Clear Channel Communications Inc., reported a US$ 9.8-million loss on his tax return, he failed to include about US$ 259-million from a lucrative stock transaction."

U.S. billionaires avoiding the taxman | Best Financial News
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Old 11-29-2011, 05:00 PM
 
Location: Cincinnati
171 posts, read 294,976 times
Reputation: 116
Looks like they may have found a solution.
Hamilton County to sell Drake Hospital | Cincinnati.com | cincinnati.com|

I personally agree that cities should stick to core functions and not be running/owning hospitals. I have no idea if it's a fair price or not, but glad that the city is able to come up with some money so maybe they can put this to bed.
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