Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What will the unintended consequences of that action be?
How do we distinguish between the people who earn high income every year and those who have a onetime windfall that they could use to better their lives over the following years?
One of the consequences is it will cost jobs.
I recently bid a job for $230,000 that would have kept five people employed at good ($18 to $26/hr) for four months resulting in $85,000 in payroll. On top of this we would have purchased materials that would have kept another 5 people employed whether in the manufacturing sector, warehousing being a delivery truck driver.
I need the work and had highest of high hopes until when a few days ago the owner told me he had to put the project on indefinite hold due to .... drum roll please.... his tax bill ended being higher than what he thought and the IRS always comes first if you are smart.
So government gets the money which they can pay out to people that were employed by me but aren't because government took the money first.
But then what would you rather have, a job paying $800/week with full benefits or unemployment paying $340 and you get to pay COBRA? But by God they showed the evil rich guy who was boss!
I recently bid a job for $230,000 that would have kept five people employed at good ($18 to $26/hr) for four months resulting in $85,000 in payroll. On top of this we would have purchased materials that would have kept another 5 people employed whether in the manufacturing sector, warehousing being a delivery truck driver.
I need the work and had highest of high hopes until when a few days ago the owner told me he had to put the project on indefinite hold due to .... drum roll please.... his tax bill ended being higher than what he thought and the IRS always comes first if you are smart.
So government gets the money which they can pay out to people that were employed by me but aren't because government took the money first.
But then what would you rather have, a job paying $800/week with full benefits or unemployment paying $340 and you get to pay COBRA? But by God they showed the evil rich guy who was boss!
But don't you feel good that the money will go to China as interest payments or the salary of a D.C. bureaucrat?
The Obama administration's energy policy is in the midst of transition from being stubbornly ideological to being wholly incoherent. That much was clear when President Obama unveiled his Blueprint for a Secure Energy Future this week.
With gasoline prices climbing above $4 a gallon, the administration is talking about tapping our Strategic Petroleum Reserve in a desperate attempt to hold down pump prices. It's also expanding subsidies and incentives for energy supplies that cost a lot more than oil, and it's aiming to reduce our dependency on foreign oil by one-third over the next 10 years.
Meanwhile, in a bizarre ...
oh yeah, that would be a great gift for Switzerland : an army of rich Americans fleeing the US !
It's so stupid, some people should learn economics, and quick, because they're extremly dangerous.
The marginal tax rate for the upper class should be increased but 100% is ridiculous. If we increased the tax rates for the upper class slightly, to say 40%, it would help.
But, and this is the big one, this is only if we fix/repair/adjust Medicare/Medicaid. Health Insurance costs are rising sharply and have been for the past 10 years. Easiest way to fix this: tort reform.
I recently bid a job for $230,000 that would have kept five people employed at good ($18 to $26/hr) for four months resulting in $85,000 in payroll. On top of this we would have purchased materials that would have kept another 5 people employed whether in the manufacturing sector, warehousing being a delivery truck driver.
I need the work and had highest of high hopes until when a few days ago the owner told me he had to put the project on indefinite hold due to .... drum roll please.... his tax bill ended being higher than what he thought and the IRS always comes first if you are smart.
So government gets the money which they can pay out to people that were employed by me but aren't because government took the money first.
But then what would you rather have, a job paying $800/week with full benefits or unemployment paying $340 and you get to pay COBRA? But by God they showed the evil rich guy who was boss!
Your boss should just sell off one of his yachts or private jets that all people who make over $250,000 have.
The tax rate paid today by wealthy people hasn't been this low since the 1950's. How low does it have to be to make them happy? How much do the other classes have to sacrifice in paying off the deficit? The only way to fix the deficit is for all to share in sacrifice. So far the only sacrifices have been by the middle and lower classes. It's time for the Republicans to make some sacrifices too and expect the wealthy to give up their most recent tax break. The deficit can't be fixed by spending cuts alone. It requires increased revenue. Time for the wealthy to own up to their fair share. Did you really think we were going to solve this deficit by only taking from the poor, the middle class, and the elderly?
The tax rate paid today by wealthy people hasn't been this low since the 1950's. How low does it have to be to make them happy? How much do the other classes have to sacrifice in paying off the deficit? The only way to fix the deficit is for all to share in sacrifice. So far the only sacrifices have been by the middle and lower classes. It's time for the Republicans to make some sacrifices too and expect the wealthy to give up their most recent tax break. The deficit can't be fixed by spending cuts alone. It requires increased revenue. Time for the wealthy to own up to their fair share. Did you really think we were going to solve this deficit by only taking from the poor, the middle class, and the elderly?
What in your mind is a "fair share". You aware that the top 10% of earners already pay 70% of all taxes.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
