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I really would like to know what percentage of their income the early Americans were paying in taxes just before they decided to throw the tea in the harbor.
Does anyone have any insight on that? Would it be a greater or lesser percentage than today?
0%. Income tax didn't come until 1913. Without an imcome tax, we (a) fought the revolutionary war, (b) founded this nation, and (c) BUILT this nation from the time that West Virginia was the "west coast" (i.e. we had never been further west) until the time that California had huge cities.
Kind of makes you wonder why the heck we need one nowadays.
I find it funny that most people in this thread that make the assertion that 250k a year isn't that much, do so on the basis of their current location. Please, tell me where 250k at the very least isn't upper middle class? Even in California, in most locations, you can own pretty damn nice homes for that kinda income. In the rest of the country you could own mansions. Gimme a break. Don't go whinning to me that 250k a year isn't a sheet ton of money just because you wanna live in the heart of some major city.
It's not a ton of money and it absolutely DOES depend on where you live. If you live in the surrounding areas of Austin, Tx, for example...you can buy a brand-spanking new 4-5 bed/3-4 bath house starting at $299. Same house where I live (and I don't like in the heart of any city)....$700K+. And then you'd have to add things on (and get charged for them) like the roof and windows. Not to mention property taxes in the $20K range.
I am sorry. The government wants their 1/5 of your pie. FINE. You feel that you need more money, so you make a bigger pie. Since you had THE NERVE to go ahead and make a bigger pie, the government now wants 1/4.
How far is it going to go?
If your standing is that "rich" people should pay more, then I guess one issue that we need to look at is how much money makes one rich? I would say that someone is not "rich" until they make at least 500,000.
What percentage do you want to see the rich pay? if they are making $500,000 do you want them to pay 40%? 30%? how much is rich and what percentage do these rich people have to pay.
I think it is all bull$hit. Maybe more people would work if the government wasn't taking so much. I can tell you right now, they are losing money on me. Like hell am I going to go to work and inconvenience my family so my income can be rolled up w/my DH's and we can pay out 40% of my income to taxes. (plus gas, daycare, etc...) No, I don't think so.
And I don't care how much disposable income I have, it doesn't mean the government should be the one taking it and spending it.
On your stats, the top 1% making 23% of the income, what is the salary of the top 1%? Just curious......
It's hard to define 'rich' in terms of income - to me it's more a function of net worth. However the income tax does not touch accumulated wealth, so I would have to say anyone in the top 2-3 percentiles of the income distribution should be considered 'rich'.
The 1% stat that I quoted did not break income down into earned vs unearned. I'd venture that the vast majority of income to the top 1% is from capital gains - which are taxed at a very low rate.
I think there should be more upper income brackets - maxing out at a 40% marginal tax rate. I'd apply that rate to income in excess of $300,000/year and index that amount by inflation.
Location: Democratic Peoples Republic of Redneckistan
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Quote:
Originally Posted by gjs4786
first off, if you're ok with making 42 a year, then why are you whining about taxing over 250k? Furthermore, it's not that obama wants to put a tax on you, as a tax is already in play. Why the 250k business you ask? I'll tell you.
I'm a young male. I am poor. Therefor, i am taxed because of that. I have less money, don't have insureance, yet i have to pay more because a richer person can afford insurance? That makes sense.
The rates i do pay whilst uninsured, are as high as they are because i'm also paying for the doctors malpractice insurance. Yes, they see it fit to charge me more to cover their premiums. That makes sense.
I challenge you to explain to me why an asprin costs 10 bucks in a hospital.
Businesses should be taxed more, why? Well, it is the people that give you business! We can't usually deduct the expense, but you businesses sure have more than many ways to work around that.
Without the people, you wouldn't have 250k per year. Excuse me, but why is tax on this substantial amount an issue? Can't buy that 50k car you wanted? Yeah, i'm still over here uninsured busting my hump not knowing what i'm going to eat a day in advanced. I lick my plate clean. I eat fake potatoes.
Furthermore, a properly run business will only figure out a way to recoup that money lost from tax increases. There are many cost cutting options available with that kind of income. Me however, well, let's just say it's a shame.
The majority of small businesses don't even break 250k. If you turn a 250k profit, after the tax increase, you're still going to have your million dollar house, so why do you care when there are people out there eating rice-o-roni? My ex girlfriend baby sat for a guy who owned a construction company in michigan. He not only laid off 6 guys a week before christmas, he continued to bloat about the 700 or 800 bucks he spent every friday night. Over 4 people. 80 dollar bottles of wine. Are you saying people such as he who have a profitable business do not deserve a tax increase?!?!
Meanwhile, back in reality, i was eating spinach out of a damn can. Atleast i have a clue though. Those who are more financially fit to handle the burden should handle the burden! It's as simple as that. 95% of the country makes below 250k, and the 5% that fall into that category are mostly lucrative businesses. Stop complaining and get busy writing off that million dollar yacht as a business expense as i've seen happen, personally! It's time for the trickle up, if that! God banish the trickle down effect, in fact, banish the enitire philosophy be it up or down. Let it be about who's financially sound to carry the weight, not those who are stuck cooking rice-o-roni. And yes, it happens every day in america.
Don't preach about how it should be until you know what it's like.
Furthermore, you need to read this, hopefully it snaps you out of the mine mine mine attitude you partake in.
a boat docked in a tiny mexican village. An american tourist complimented the mexican fisherman on the quality of his fish and asked how long it took him to catch them. "not very long," answered the mexican. "but then, why didn't you stay out longer and catch more?" asked the american. the mexican explained that his small catch was sufficient to meet his needs and those of his family. the american asked, "but what do you do with the rest of your time?" "i sleep late, fish a little, play with my children, and take a siesta with my wife. In the evenings, i go into the village to see my friends, have a few drinks, play the guitar, and sing a few songs. I have a full life." the american interrupted, "i have an mba from harvard and i can help you! You should start by fishing longer every day. You can then sell the extra fish you catch. With the extra revenue, you can buy a bigger boat." "and after that?" asked the mexican. "with the extra money the larger boat will bring, you can buy a second one and a third one and so on until you have an entire fleet of trawlers. Instead of selling your fish to a middle man, you can then negotiate directly with the processing plants and maybe even open your own plant. You can then leave this little village and move to mexico city, los angeles, or even new york city! From there you can direct your huge new enterprise." "how long would that take?" asked the mexican. "twenty, perhaps twenty-five years," replied the american. "and after that?" "afterwards? Well my friend, that's when it gets really interesting," answered the american, laughing. "when your business gets really big, you can start buying and selling stocks and make millions!" "millions? Really? And after that?" asked the mexican. "after that you'll be able to retire, live in a tiny village near the coast, sleep late, play with your children, catch a few fish, take a siesta with your wife and spend your evenings drinking and enjoying your friends." and the moral of this story is: ......... Know where you're going in life... You may already be there.
i was gonna give you a chance until i came to this and realized you are a complete idiot
Right. I forgot -- even though tens of thousands of poorer-than-dirt-poor Irish and Italian and Jewish immigrants managed to come to New York City and get jobs and start businesses and have kids that went to college (in most cases, the first in the family lineage to ever do so), those who are richer (the middle class and lower-middle-class) are now-a-days completely incapable of coming up with the ingenuity and hard work to start a successful business or work up the financial ladder in some other fashion.
Global warming is probably to blame. Right, lib-tard?
It's not a ton of money and it absolutely DOES depend on where you live. If you live in the surrounding areas of Austin, Tx, for example...you can buy a brand-spanking new 4-5 bed/3-4 bath house starting at $299. Same house where I live (and I don't like in the heart of any city)....$700K+. And then you'd have to add things on (and get charged for them) like the roof and windows. Not to mention property taxes in the $20K range.
Where is this place that you live hmmm? The beach? Silicon valley hmmm? Gimme a break. Just because you supposedly live in an area of the country where that much money doesn't buy you the most opulent house you want doesn't, therefore, lower that value of said income. At 250k a year you can rent a small apartment, work for 10 years and then retire. Just from saving as much as you can with a 250k a year income you could live comfortably for the rest of your life in most of the country.
OK, I've read 10 pages of this.
From the experts who are big into redisribution, if I make 25,000 a year, how much should the federal government pay me back?
If I make $50,000 a year, do I have to pay income tax or do I get some free money back?
If I make $100,000 a year, do I still have to pay income tax or do I still get free money back from the government?
If I have worked my ass off for 25 years to make $250,001 a year, what percentage do I have to give to the federal government to redistribute to the "more unfortunane" to make them happy?
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