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Our current state of economic doldrums are clearly rooted in early 2000/2001.
Doesn't matter which administration was at the helm since or during. All I know is everything changed around 2001.
It may not be a result of 9-11 but for me, working has never been the same since that event.
increased outsourcing, increased work loads, maximum 2% raises if I was lucky enough to get a raise that year, but the rich continued to get richer.
I don't understand why politicians are still trying to protect the tax increases for the rich.
We had to pay for the wars some way. In this case it was indirect. The feds borrowed over $1 trillion to finance their military adventurism, and spent much of that money overseas. Among other things, they had to maintain our 700 military bases in other countries, and in many cases we spent $billions expanding them. Much of that money was sucked out of US business investment, which resulted in a stagnant economy and a recession that caused a lot of pain.
The WTC was a great rallying point, but it was a pretty minor attack. We have killed a lot more Americans as a matter of US foreign policy than the Saudis managed in NYC.
We had to pay for the wars some way. In this case it was indirect. The feds borrowed over $1 trillion to finance their military adventurism, and spent much of that money overseas. Among other things, they had to maintain our 700 military bases in other countries, and in many cases we spent $billions expanding them. Much of that money was sucked out of US business investment, which resulted in a stagnant economy and a recession that caused a lot of pain.
The WTC was a great rallying point, but it was a pretty minor attack. We have killed a lot more Americans as a matter of US foreign policy than the Saudis managed in NYC.
Taxes on most of the middle class working population in the US are high enough
Here is a sample of what I pay
35% federal
6% state
SS 6%
1% on property value/yr
4.5 % PPT (Car Tax/yr)
5.1% on gas
7% sales tax
of course I get credits that reduce the Fed rate to maybe 22% but by any measure that is quite enough in taxes and hat does not include the tolls I pay to drive to work ($6/day)
I prefer not to be in Europe where folks regularly pay 50% income taxes and on top of that they get VAT of 15-20% put on most purchases (not usually food in a grocery store). Although, one could argue the tax burden is similar compared to CA, NY or some high tax places.
You've just blown all your credibility. There isn't a middle class person in the United States paying 35% of their gross income in Federal income taxes. $200K, single, standard deduction is a bit less than 24%.
My 2015 effective tax rate was 24%. I think it's my societal duty as one of the fortunate 5%ers to pay my fair share. Why are you so greedy?
You've just blown all your credibility. There isn't a middle class person in the United States paying 35% of their gross income in Federal income taxes. $200K, single, standard deduction is a bit less than 24%.
My 2015 effective tax rate was 24%. I think it's my societal duty as one of the fortunate 5%ers to pay my fair share. Why are you so greedy?
Based on my back of envelope calculation. if that person actually had 35% federal income tax on gross income, they have to make slightly more than a million (using 2015 tax brackets and single filer).
Clearly they don't. Republicans have a better marketing department. I'm sure it pays better, which of course makes sense they attract more skilled marketers. It's economics. And they have to. To convince the plebs to vote to make the rich richer, and continue believing Fox. Including the out of context soundbite about building things.
GeoffD well played. Most people, regardless of party, probably couldn't even name what bracket they're in. It's surprising to me also that most people pay hundreds for someone to do their taxes. You learn a lot by doing them yourself.
When people get their paycheck their eye goes straight to take home pay (now how much is deposited into their bank account). They ignore how much the federal government takes. It is a withholding, pay-as-you-go, system is a system where smaller amounts are taken before the worker even gets their money and the company you work for is a unpaid tax collector.
I'll bet! if people had to pay quarterly taxes like business owners do they would pay more attention to how much government takes.
People demand higher pays but never look at the other side of the coin. It's better for the gov to take less and let people keep money they already worked to earn. Of course the government wants you to ignore this, they want you to make higher wages instead of reducing taxes, that means they get more of your money.
This HITS the nail on the head and is the exact reason why more aren't up in arms. In fact, there are those duped into thinking they actually 'get' money from the government in the form of tax refunds. Somehow they missed catching on what refund means. It does not mean gift. It means the government took too much of YOUR money, freely used it, and is forced to give some back. I can only wish we got refunds. Once again, after having all monies taken out that we thought would keep us about even (and zero dependents), we owe $$$$.
It's the same mentality we see the car salesmen hawking... Payment per month instead of looking at the total cost of a car. Actually, it's the whole credit card mentality. But again, that's a whole 'nother thread.
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