Rich People In This Country Are Getting Away With Murder (minimum wage, Whitehouse)
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A poor person pays payroll takes, excise taxes, gasoline taxes, state sales or income taxes, telephone/cable/power/utility/fishing/hunting/ etc. fees or other add ons and ends up, if he/she's lucky being out about half of what they earn on the front end.
A rich person sloughs off a sales tax, an income tax, a gasoline tax, various fees and hires an accountant to be sure he doesn't pay more than 20% total.
The screwing continues...the screwing goes on.
Yes but you need to listen a bit to libertarians pointing out that the screwing began in the very design of our monetary system. Since that day it's been R's & D's arguing over peanuts while the real crooks were skimming the entire economy in large nets. It's a whole other tax and R's siding with them only gave them permission to use a bigger net. D's siding with the underdog missed the broader view chasing things down with band aids. We need to rise above all ideology, work smarter and work together for a fair deal.
By Kay Bell · Bankrate.com
Thursday, September 30 Posted: 2 pm ET
"...But, the study also says, even if the rich get to keep their lower tax rates, don't depend on them for economy-boosting spending. Tax-cut history and data from the Federal Reserve's Flow of Funds reports indicate that high-income earners prefer to save the money rather than spend it.
That was the case in both instances of tax cuts under former President George W. Bush...."
You can own a dozen cars, but since you can not drive all of them at the same time. You can only drive one car at a time. So if you commute to work, you can only commute using one car per day. ie, the same amount of gasoline as a person with one car.
Yachts tend to suck through a lot of fuel though.
Ah, but the poor either have to use public transportation or can only afford 1 car. And that car I'm sure is a very fuel efficient one. The rich have a car for the husband, Porsche, the wife, Cadillac Escalade and each of the kids, Corvette, Mustang.
Plus the rich live way out in the suburbs so thier commute is much longer than the poor who have to live in or near the city.
And I forgot the big gas guzzler pick up truck to haul the trailer for the 4 wheelers and the jet skis.
I know I'm being silly but, the point is the rich pay a lot more in gas tax than the poor. They are not getting away with murder.
Ah, but the poor either have to use public transportation or can only afford 1 car. And that car I'm sure is a very fuel efficient one. The rich have a car for the husband, Porsche, the wife, Cadillac Escalade and each of the kids, Corvette, Mustang.
Plus the rich live way out in the suburbs so thier commute is much longer than the poor who have to live in or near the city.
And I forgot the big gas guzzler pick up truck to haul the trailer for the 4 wheelers and the jet skis.
I know I'm being silly but, the point is the rich pay a lot more in gas tax than the poor. They are not getting away with murder.
Could be. I have rarely lived in any urban city that had public transport. So I just never think of it.
To get to work everyone rural has a vehicle.
What I see also is that the poor can not afford to buy fuel efficient vehicles.
My truck is a '92 I paid $1200 for it a few months ago,
it sucks down the fuel.
My wife bought her car brand new from a Chevy Dealer in '08 she bought an '08 Aveo. But to have bought a fuel efficient car she would have had to pay 3 times more cash.
By Kay Bell · Bankrate.com
Thursday, September 30 Posted: 2 pm ET
"...But, the study also says, even if the rich get to keep their lower tax rates, don't depend on them for economy-boosting spending. Tax-cut history and data from the Federal Reserve's Flow of Funds reports indicate that high-income earners prefer to save the money rather than spend it.
That was the case in both instances of tax cuts under former President George W. Bush...."
Here we go again. Define "rich"? The article says $250K. That's unrealistic as it depends on where you live.
Like Hawkeye said upthread.
You can have spent more than 20 years in school, lost your 20's and even your early 30's to finally end up making some decent money. Or you could have lost your 20's and early 30's to starting a business and never seeing your family. Then once the money starts coming in, you find out you owe the government $500K or more (even outside of property taxes,etc.), just for giving up your life to help others or to take care of yourself and your own, because you should be punished for doing so. Unlike the people who drop out of high school, don't go to college (refuse to take out a loan or work through), have more kids than they can afford, play victim and think everyone should be on a level playing field when it comes to everything...
In my state, those who make around the "rich" mark (as defined by the government), well, I don't blame them for saving their "tax cuts".
Those who are super-rich, let's just say those who make millionS of dollars a year, who REALLY have a fleet of cars, drivers, live in multi-million dollar fully staffed homes with houses here, there and everywhere, hop on a private plane to go to dinner in Italy... don't need a few extra thousands in tax cuts to afford one more car, one more house, one more vacation, one more Gucci bag, one more trip to France....what are they going to spend it on? They're already spending big time because they can. Is that considered "saving it" because their spending habits don't change with a few extra bucks added to their millionS?
Don't hate the game and don't even hate the player. Just learn how to play the game better.
This is also why I think that complaints about corproate taxes being too high are just people "Tallking Their Book". Very few corporations in this country pay the full taxable amount based on the tax bracket of their net income. Very few individuals pay the full taxable amount of their income either. The more money you make the opportunites and resources you have available to you to help you shelter your income.
well said the key is working smarter not harder.
Quote:
Originally Posted by sailordave
My total gross income is somewhere in the $35,000 range. I live in a small mobile home with my wife who has multiple spinal problems and her 84 year old father with ongoing medical problems. Money's tight but we make do with what we have. Though my job doesn't pay much, it's steady reliable work with benefits. I work in a hospital boiler room working with the fire alarm system, boilers, generators, heating/cooling system, medical gas system, and on nights and weekends general building maintenance is part of our job. On nights and weekends, only one of us is here to cover all 11 floors of this hospital. I enjoy making the patients comfortable and fixing the little problems that come up. I envy people who make more money and live in a better home and drive a better car. I don't envy their 50 or 60 hour work week on salary and the huge stress they put themselves under. If I earned such huge paychecks and saw nearly 50% of my income going to taxes, I too would be doing whatever I could to reduce that amount and keep the money I earn. I don't whine about my place in life. We're on our way to paying down our debt (much of which is due to all the ongoing medical problems) so that we can put money aside for a better home/car.
50-60 hour work weeks? that is a short week for the rich, try 80-100 hour work weeks. when i worked as a night auditor and night manager on duty in shenandoah national park, i worked a 60 hour week, and my boss worked 80 hours a week.
Quote:
Originally Posted by DanoTex
By this line of reasoning, the consumer pays all of the taxes. The cost of the employees wages and employer paid taxes are added into the cost of the product and paid by the purchaser/user
Dano
and the light is coming on. yes everything that a business pays out is included in the cost of a product, either at the wholesale or retail level. you really dont think that ford sells a base mustang to it dealers for what you see as the sticker price do you? tell me you really do know that the retail price has a substantial mark up so that the retailer can pay their employees, the lease on the store, the power and gas, the property taxes they pay the state, etc. a can of tuna might cost you $1.50 at the retail level, but the store buys that can for something more like 60 cents depending on the brand and the supplier. and when you head down to the hardware store to buy a cooler pump for your evaporative cooler, and pay the $15-20 retail price, do you really think that cooler pump costs more than $4.00 at the wholesale level?
By Kay Bell · Bankrate.com
Thursday, September 30 Posted: 2 pm ET
"...But, the study also says, even if the rich get to keep their lower tax rates, don't depend on them for economy-boosting spending. Tax-cut history and data from the Federal Reserve's Flow of Funds reports indicate that high-income earners prefer to save the money rather than spend it.
That was the case in both instances of tax cuts under former President George W. Bush...."
OMG..the horror..somebody actually SAVING money and not wastefully spending it....OMG
By Kay Bell · Bankrate.com
Thursday, September 30 Posted: 2 pm ET
"...But, the study also says, even if the rich get to keep their lower tax rates, don't depend on them for economy-boosting spending. Tax-cut history and data from the Federal Reserve's Flow of Funds reports indicate that high-income earners prefer to save the money rather than spend it.
That was the case in both instances of tax cuts under former President George W. Bush...."
Of course the rich are saving their money because they know with this administration they will be taxed to death! See all you people who constantly bash the rich really have NO CLUE how much they spend and boost they economy. Now they'll just park their money on the sidelines and wait a few years and see what happens!
If the rich spent all their money they wouldn't be rich anymore..right ?
The rich invest their extra money to make more money.
And they do spend or all these luxury stores, resorts, car/boat dealers would all be out of jobs.
They just don't spend it all like the typical consumer minded middle and below Americans do.
The people who should be saving and not spending are the very ones that show up at 7AM for a Walmart special.
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Rich People In This Country Are Getting Away With Murder
