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Because your numbers don't add up. You say you rent and have minimal bills, yet you'd have to be taking home $12-15k every month... yet have to take a loan to pay taxes? Like I said, my housing bill is $4k, $1.5k in car payments/insurance, yet not taking loans out here... you need to talk to an accountant.
Yup.
Either JennySquirrel is making stuff up (that would be my guess) - or she is pretty incompetent with her money - especially considering how low cost her lifestyle seems to be. She is (so she claims) making a salary that pays more than 90% of Americans make (and she claims it pays OVERTIME at that - a claim that smells pretty bogus to me) and yet can't pay her taxes.
I got news for her - if she's making $250,000 a year (as she claims) and needs to take out a loan to pay her taxes, then the PROBLEM IS NOT HER TAXES.
Give me break.
Ken
PS to Jenny - what do you do that pays $250,000/year and requires overtime? Maybe a bit more information would make me a believer of your claims. Right now though, I don't buy it one bit.
This kind of answer comes from people that don't know multi millionaires or billionaires and think they all sit around having a great life of leisure and they dial their broker once in a while.
You got me there. I know no millionaires. I can, however, read statistics.
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I worked directly for a long list of multi or mega millionaires and billionaires, some of which are public names, and I know first hand how they live their life and how they make their money.
Good for you.
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For starters, yes there are the limo liberal trust fund babies that have wealth and yes they jet around doing much of nothing.
I sense a tad bit of bias. Is it only "liberals" who jet around?
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However the reality is the vast majority of wealthy or high income people work their ass off.
Most of us work our asses off. So what? The point isn't how hard we work, but how we spend our money.
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Whether it is owning a chain of car dealerships, heavy equipment rental stores, a manufacturing company, several restaurants, etc. they invest and take risk and use their brain and hard work and make something of themselves. And in return create jobs and employ a lot of people.
Uhhh...jobs are in steep decline.
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What makes this country go around is small and large business not guvment bureaucracy.
Agreed. However, what makes business go around is customers, not tax cuts.
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And that small and large business just didn't drop out of someones butt one day. It is the result of a lot of hard work, effort and risk taking.
Agreed. Point?
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Also the notion of buying stock or real estate or whatever doesn't create jobs is dumb. Really dumb in fact. Because investment is what drives the economy. It puts the money back in the system for people to grow their business and hire more people.
Speaking of dumb, how many jobs are created when you put in an order for 10,000 shares of Microsoft common stock? Answer: zero.
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We need to stop vilifying wealthy or successful people in this country. Success not failure should be rewarded.
Who's villifying anyone?
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Don't like people making more than you then get off your ass and get to work. Get a better education, start a business, get a better job. I started my first business with absolutely nothing. And when I mean nothing, nothing. And I always made money. Was a W-2 guy for a while, now I am back owning my business. My sister works for a woman that started her business with $1800. It was a struggle for seven years and then business started to expand. She now employs 60 people and is a millionaire. She worked her butt off to get it.
So why punish success? Stop sitting around waiting for everyone to do everything for you and make something of your own life.
I think what is clear is our high school education is lacking as clearly people don't understand economics and math.
Yes, mas'sa. I'll get off my lazy ass as soon as I get back from work tonight.
I'm no tax expert, but those sound like deductible business expenses. I would not count those amounts as "income."
See that is what I would think. BUT our interest on the mortgage was so high and our property tax ,etc. maxed out our deductions. SOOOO we never get to claim malpractice ins, books, classes,etc.
Now this next year we will lose the house deductions so we should be able to claim donations, education etc. But we will neer have that much in deductions compared to the house and all the taxes,etc.
A couple years ago I took a 1 week class at Loyola Marymount and stayed in LA. I had the price of the class, the air, hotel, car meals, books, etc. and I never got to claim a cent. UGH
I just hate taxes. I wish we would go to a flat tax.
Yup.
Either JennySquirrel is making stuff up (that would be my guess) - or she is pretty incompetent with her money - especially considering how low cost her lifestyle seems to be. She is (so she claims) making a salary that pays more than 90% of Americans make (and she claims it pays OVERTIME at that - a claim that smells pretty bogus to me) and yet can't pay her taxes.
I got news for her - if she's making $250,000 a year (as she claims) and needs to take out a loan to pay her taxes, then the PROBLEM IS NOT HER TAXES.
Give me break.
Ken
PS to Jenny - what do you do that pays $250,000/year and requires overtime? Maybe a bit more information would make me a believer of your claims. Right now though, I don't buy it one bit.
Thanks for calling me a liar without even knowing anything about me. That is always nice.
I am a PharmD at a Hospital. (Doctor of Pharmacy) I can get plenty of OT since there are always call offs. But, I am TIRED of working OT.
Once again I will tell you and the others, I am not bad with my money. We do not blow money nor are we materialistic.
Thanks for calling me a liar without even knowing anything about me. That is always nice.
I am a PharmD at a Hospital. (Doctor of Pharmacy) I can get plenty of OT since there are always call offs. But, I am TIRED of working OT.
Once again I will tell you and the others, I am not bad with my money. We do not blow money nor are we materialistic.
Then where does the $15k a month go if you have no mortgage or car payment? $15k a month and taking out loans for taxes is crazy, without debt you should have that banked. Figure out how much you will owe, figure out how much is taken out of your check, and adjust your W-2. No one here is going to cry tears for you about taxes because you can't manage your $15k a month.
There are those who are successful, both people & corporations, who take full advantage of the system, including illegal shortcuts.
There are those that are unsuccessful that take advantage of the system via welfare, medicare and social security fraud or government grant fraud. Or countless other ways.
Ultimately there are people in society from all strata that are abusive.
That doesn't mean however that we use the old class warfare playbook to demonize success and reward sloth.
There are those that are unsuccessful that take advantage of the system via welfare, medicare and social security fraud or government grant fraud. Or countless other ways.
Ultimately there are people in society from all strata that are abusive.
That doesn't mean however that we use the old class warfare playbook to demonize success and reward sloth.
Success? What success? The economy is tanking. Time for something different.
The Bush tax cuts will expire back to levels that they were at....during the Clinton era. I don't know about you, but I remember getting rich during the dot com Clinton years when tax rates were higher. But the economy was also healthier back then, we had budget surpluses, inflation was non-existent, and unemployment was very low.
Modesty aside, I'm already at the 35% tax bracket, so it will go up to 39.6% in 2011. Big deal. I'm not that greedy.
Well, I'm in the highest bracket too. Obama is saying we can afford it. I am not Obama voter but i can use his words "yes we can" But i don't like this idea. Yes i can but why? I studied so many years, I'm working hard. i feel like i am punished. I don't think we need to buy this Obama's argument "we can afford it." He has pretty stupid reasoning. It sounds like "give me 100% raise because you are rich and I am poor."
Say, you have a small business and your gross is just 500.000 a year. 35 vs 39.6% is $23000. It's enough for secretary's annual salary. So, how Obama's tax hike could be a stimulus? I believe my small example is clear- less taxes creates jobs. higher taxes eliminate them. When taxes go up I won't give raise to my workers, will cut their benefits maybe even cut their salaries. How will it help economy??? An finally, $23000 is a good chunk of money even for a person who makes 500k.
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But i don't like this idea. Yes i can but why? I studied so many years, I'm working hard. i feel like i am punished. I don't think we need to buy this Obama's argument "we can afford it." He has pretty stupid reasoning. It sounds like "give me 100% raise because you are rich and I am poor." 