Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 09-13-2010, 03:12 PM
 
Location: Long Island (chief in S Farmingdale)
22,194 posts, read 19,476,372 times
Reputation: 5305

Advertisements

Quote:
Originally Posted by aneftp View Post
The point is $250k, while well off, doesn't get you very far in expensive areas. Clarksville neighborhood would be equivalent to a $300K area in my part of Florida. So your money goes much further in different parts of the country.

If they truly wanted to hit the "rich" They need to start at 1 million. We gotta remember inflation here. Look at the prime example of the AMT. It was intended for people making over $200K back in the late 1960s. Now it hits over 90% of people making over 200K in high state income taxes areas. $200K in 1969 is more like 1 million in today's market.

The reason the Dems like to target $250K is not because it represents the top 5% of incomes. It's because they know people making $250k to around $500K is much harder to high/defer income or live off passive income as opposed to someone making over 1 million.
It still gets you quite far. Not to mention that for the most part the actual increases in taxes will not start until you are a bit over $300,000 for most people with kids, and the increases would be quite small. For example according to Bloomberg, (the company, not the mayor) for those who will see an increase and make under $500,000, the average increase would be $538.
Reply With Quote Quick reply to this message

 
Old 09-13-2010, 03:26 PM
 
2,409 posts, read 3,042,746 times
Reputation: 2033
Quote:
Originally Posted by JazzyTallGuy View Post
Actually the Federal Reserve has help stabilized the economy. If it wasn't for the actions taken by the Federal Reserve Board in October 2008 the global economic system might have collapsed., I trade currencies and the panic created by the global credit crises was extraordinary in its severity.

Yes, the Federal Reserve is a part of the federal government but it operates independently. The members of the Federal Reserve Board of nominated by the President and confirmed by the Senate. The Chairman of the Federal Reserve Board is REQUIRED to come before both the House Finance Committee and the Senate Finance Committee twice a year for hearings. The Federal Reserve Board was created by an act of Congress and the Federal Reserve Act was signed by Woodrow Wilson in 1913. To say the Federal Reserve Board is not a part of government when it is created by an act of Congress which was signed by a President is false.

The independent nature of the Federal Reserve Board allows it to act WITHOUT POLITICAL INTERFERENCE FROM THE PRESIDENT OR CONGRESS. This is actually in the nation's best interest. The current partisan nature of Washington D.C. would lead political motivated actions which would be in some cases economically disastrous not only for the country but for the global economic system.

LMAO! Oh wow you are truly a brainwashed kool aid drinker. The Federal Reserve is made up of PRIVATE BANKS! Who cares if it was initiated by an act of Congress. It's a private group of banks that is given the power to create money out of thin air without ANY PUBLIC oversight. This is the EXACT type of institution the founding fathers warned us about. The power to create our money should be in the hands of the people i.e. the government not a bunch of private banks. That is why the national debt is permanent and will never be paid off. It's impossible to pay off the national debt as long as private banks demand interest on the money they give us i.e. print out of thin air. It's the biggest fraud ever perpetrated agains the American populace and your ignorance about how money is created and the backdoor workings of the Fed is all too common unfortunately. Oh and just so you know when Woodrow Wilson passed the Federal Reserve act it was on December 23rd when most of the voting Congress was away for the Holidays.
Reply With Quote Quick reply to this message
 
Old 09-13-2010, 03:28 PM
 
2,409 posts, read 3,042,746 times
Reputation: 2033
Haha you trade currencies.....so basically you make your living off the backs of other people. This thread is a great tribute to pukes like you. Do nothing aholes who've speculated the American economy to death. You should be proud Mr. Forex! Don't worry buddy because when things go from bad to worse in the coming years people like you who have ruined the American economy will have a big fat bullseye on your forehead. Good luck! I hope you have a safe house in your mansion and you better read up on the French Revolution. Those days will be here shortly!
Reply With Quote Quick reply to this message
 
Old 09-13-2010, 03:46 PM
 
Location: Texas
44,259 posts, read 64,397,970 times
Reputation: 73937
Before you think taxes 'hurt' all the people...let's remember how 50% of the population pays next to no income tax. On those lines, I am one of those 'top 3%' who makes right about $250k, and I paid over 33% of my income in taxes - just to the fed. Forget property taxes, sales taxes, etc.


The idea that the average American is overtaxed is a nice piece of populist pandering. In fact, federal taxes as a percentage of the economy are at their lowest level since the presidency of Harry Truman. Chuck Marr and Gillian Brunet of the Center on Budget and Policy Priorities have calculated that a family of four at the exact middle of the income spectrum will pay only 4.6 percent of its income in taxes. Remember, almost half of the country pays no income taxes at all. The top 3 percent of Americans contribute almost 50 percent of federal income taxes.

The middle of the pack is paying 4%, I'm paying over 33% and I am not doing my fair share? You can't argue with people who are that greedy and demanding, especially when the real numbers are not on their side.
Reply With Quote Quick reply to this message
 
Old 09-13-2010, 03:49 PM
 
Location: Inis Fada
16,966 posts, read 34,733,011 times
Reputation: 7724
Quote:
Originally Posted by Wapasha View Post
You are looking at all of these people as if they are an employee, and their take home pay is $250k.

Someone who owns a small business and files as a Sub Chapter S will put all their business income on their tax returns. It may look like a lot of money, but once they pay employees, and expenses, they may actually be living off $70k a year.
You and I both know that, but the Government is counting on the employees (who are unfamiliar with tax law and small business) to be of the impression that $250K is what they are taking home.

Great way to turn the people on themselves.
Reply With Quote Quick reply to this message
 
Old 09-13-2010, 03:53 PM
 
Location: Long Island (chief in S Farmingdale)
22,194 posts, read 19,476,372 times
Reputation: 5305
Quote:
Originally Posted by stan4 View Post
Before you think taxes 'hurt' all the people...let's remember how 50% of the population pays next to no income tax. On those lines, I am one of those 'top 3%' who makes right about $250k, and I paid over 33% of my income in taxes - just to the fed. Forget property taxes, sales taxes, etc.


The idea that the average American is overtaxed is a nice piece of populist pandering. In fact, federal taxes as a percentage of the economy are at their lowest level since the presidency of Harry Truman. Chuck Marr and Gillian Brunet of the Center on Budget and Policy Priorities have calculated that a family of four at the exact middle of the income spectrum will pay only 4.6 percent of its income in taxes. Remember, almost half of the country pays no income taxes at all. The top 3 percent of Americans contribute almost 50 percent of federal income taxes.

The middle of the pack is paying 4%, I'm paying over 33% and I am not doing my fair share? You can't argue with people who are that greedy and demanding, especially when the real numbers are not on their side.

Nice way to lie.... If you are making $250,000 you are not paying 33% to income taxes.
Reply With Quote Quick reply to this message
 
Old 09-13-2010, 03:54 PM
 
10,854 posts, read 9,306,984 times
Reputation: 3122
Quote:
Originally Posted by SoCalCroozer View Post
Haha you trade currencies.....so basically you make your living off the backs of other people. This thread is a great tribute to pukes like you. Do nothing aholes who've speculated the American economy to death. You should be proud Mr. Forex! Don't worry buddy because when things go from bad to worse in the coming years people like you who have ruined the American economy will have a big fat bullseye on your forehead. Good luck! I hope you have a safe house in your mansion and you better read up on the French Revolution. Those days will be here shortly!
Anybody can enter the financial markets provided they have the necessary resources. If you are skillful enough you can profit. I'm not any different than anybody else that has a skill that is able to profit from it. Actually I'd rather be in the position to have a skill and profit from it than in the position of many people who are dependent on an employer to determine if they get a wage and what that wage will be.

Yes I used to be in the corporate world. Corporate America basically uses people and throws them away when they are no longer wanted or they can find somebody to do the job cheaper. Now they are no longer throwing people away they are throwing jobs to the cheapest source of labor they can find. More often than not that is not in America. People need to realize that businesses and corporation no longer care about people. You are really nothing more than a number on a financial statement that they are trying to make as small as possible. You can continue to be used by an employer and make him or her rich. I'd rather not do that anymore. But hey everybody's got a choice.
Reply With Quote Quick reply to this message
 
Old 09-13-2010, 03:55 PM
 
2,409 posts, read 3,042,746 times
Reputation: 2033
Quote:
Originally Posted by stan4 View Post
Before you think taxes 'hurt' all the people...let's remember how 50% of the population pays next to no income tax. On those lines, I am one of those 'top 3%' who makes right about $250k, and I paid over 33% of my income in taxes - just to the fed. Forget property taxes, sales taxes, etc.


The idea that the average American is overtaxed is a nice piece of populist pandering. In fact, federal taxes as a percentage of the economy are at their lowest level since the presidency of Harry Truman. Chuck Marr and Gillian Brunet of the Center on Budget and Policy Priorities have calculated that a family of four at the exact middle of the income spectrum will pay only 4.6 percent of its income in taxes. Remember, almost half of the country pays no income taxes at all. The top 3 percent of Americans contribute almost 50 percent of federal income taxes.

The middle of the pack is paying 4%, I'm paying over 33% and I am not doing my fair share? You can't argue with people who are that greedy and demanding, especially when the real numbers are not on their side.
What bullcrap!

Most people pay more in wage taxes than they do in income taxes. When wage taxes are figured in, the burden assumed by lower income groups rises.

Let's not forget the loop holes in our tax system. Most of the very wealthy in this nation do not report their earnings as individuals but under the umbrella's of corporate tax shelters. The side of the argument syaing that the top 1% has only 21% of the gross adjusted income is naive. Unless of course you've never hired the cervices of a CPA.
with laughable contempt for the government, and shirking of personal responsiblity, the rich... the truly rich claim to own hardly any of their actual wealth, and instead write of their expenses to businesses and charitable trusts that they invest in. Show me a rich man who isn't trying to reduce his apparent income to the IRS, and I'll vote him in as Pope.
Reply With Quote Quick reply to this message
 
Old 09-13-2010, 03:59 PM
 
2,409 posts, read 3,042,746 times
Reputation: 2033
Quote:
Originally Posted by JazzyTallGuy View Post
Anybody can enter the financial markets provided they have the necessary resources. If you are skillful enough you can profit. I'm not any different than anybody else that has a skill that is able to profit from it. Actually I'd rather be in the position to have a skill and profit from it than in the position of many people who are dependent on an employer to determine if they get a wage and what that wage will be.

Yes I used to be in the corporate world. Corporate America basically uses people and throws them away when they are no longer wanted or they can find somebody to do the job cheaper. Now they are no longer throwing people away they are throwing jobs to the cheapest source of labor they can find. More often than not that is not in America. People need to realize that businesses and corporation no longer care about people. You are really nothing more than a number on a financial statement that they are trying to make as small as possible. You can continue to be used by an employer and make him or her rich. I'd rather not do that anymore. But hey everybody's got a choice.
Currency traders do not have a valuable skill. They are the same thing as a bum in a casino who's good at blackjack. An ex con with enough time on his hands can open up a forex account and if he's good enough can make lots of money. Thats' the entire point........people like you that make money speculating on WallStreet don't add any value to an economy. You simply manipulate and suck off value from the economy. If you want to learn a real skill learn how to farm, weld or build something. Hell be a doctor. I don't care......but try to argue that people on WallStreet are highly 'skilled'. That's a bunch of crap. WallStreet is a game and you learn how to play it. It's not a skill. Wallstreet doesn't build, grow, or mine anything. The banks, the investment firms, the real estate firms have been siphoning off the wealth of America for 50+ years.
Reply With Quote Quick reply to this message
 
Old 09-13-2010, 04:20 PM
 
9,408 posts, read 11,937,825 times
Reputation: 12440
$250k per yr is a hell of a lot of money to me. I would feel like I hit the lottery if I were pulling down that much. That said, I do not favor taxing them more. I will never favor any additional taxes. My head spins that people actually want more taxes. Here's a novel idea: severely reduce the size of our gov't, make them quit spending our money and bankrupting our future, and let each person, no matter their income, keep and spend their own money as they see fit!
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6.

¬© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top