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Originally Posted by freemkt
how the heck are wage slaves supposed to get non-wage income?
Instead of whining freemkt asked a legitimate question and by doing so took the first step toward increasing his or her wealth. The next step is to educate yourself on personal finance. From that knowledge take action accordingly. We all heard the saying, give a poor man allot of money and he will be poor again. Knowing how to handle your income level at any amount is just as important. Understanding personal finance and learning how to handle your money will set you on a path to a much better life. Do you have a poor mans or rich mentality? This statement sounds like a bunch of mumbo but once being poor I am living proof so I understand.
Change your thinking, read on the subject, take action accordingly. Some may disagree but the book I started with was Rich Man Poor Man.
Income over $100K generally comes from sources other than wages, so a relevant question here is, how the heck are wage slaves supposed to get non-wage income?
Instead of whining freemkt asked a legitimate question and by doing so took the first step toward increasing his or her wealth. The next step is to educate yourself on personal finance. From that knowledge take action accordingly. We all heard the saying, give a poor man allot of money and he will be poor again. Knowing how to handle your income level at any amount is just as important. Understanding personal finance and learning how to handle your money will set you on a path to a much better life. Do you have a poor mans or rich mentality? This statement sounds like a bunch of mumbo but once being poor I am living proof so I understand.
Change your thinking, read on the subject, take action accordingly. Some may disagree but the book I started with was Rich Man Poor Man.
ps get out of bad debt too
Been there, better off but still working at it.
For those who want to live "The American Dream" but are voting to tax the rich you are squelching your own dream. You will NEVER be rich getting freebies or welfare.
This administration knows that most Americans do not understand basic personal finance and they are playing on your anger for their own agenda. They have you believing that taxing the rich and the BIG corporations is the answer but the big corporations will either go elsewhere to a business friendly country and take their jobs with them or they will lawyer up and find a way around it. They will NOT pay more. On the other hand, middle and higher income people, if they still have a job don't have the means and are the people who are really going to be hit with this huge tax increase.
If you dream of becoming financially well off or rich, as your income increases you will pay a higher percentage of taxes because you will still not be able to afford an attorney to guide you to reduce your taxes and will not have the money to make the moves that the big corporations can.
Taxes keep me and you down keeping middle America in middle America and will make most people even more poor. If every time you increase your income a bigger portion goes to the government how are you supposed to put yourself in a better financial position? Try working two jobs and notice how much more taxes they will take. Worse yet, the government spends our hard earned money friviously.
Don't vote for an administration that thinks its right to take money from people who work too damn hard for their money so they can give to people who don't want to get off their duffs also throwing your chances for a better life out a window so the lazy can continue to sit on their duffs while you bust your a**
Never do anything for jealousy or for spite. I am telling you, if you vote to tax the rich, you are going to hit the wrong group of people as it always does and you can kiss your chances for a better life good bye.
I happened to catch this from Mark Levin the other day, found it striking, and decided to look it up on line when I got home. Mark Levin
Economist Mark J Perry found this interesting factoid. According to 2009 IRS data, the 400 top taxpayers in 2009 shelled out $16.1 billion, while the bottom 50% of taxpayers totaled $19.5 billion in taxes, or less than 25% more.
Something to cite next time someone claims that the rich don't pay their fair share in taxes.
Note also how inherently unstable this structure is. What happens if just a few of those 400 decide to take their money and go to some small offshore tax haven? Wouldn't it be more stable to have a much more broad-based structure instead of trying to drain so much dough from such a tiny group?
And I bet the top 400 have more cash than bottom 50% combined so there not paying a fair share regardless. In fact the wealthiest in America (Gates & Buffett) are for paying higher taxes, so...
If I were in the top 400, I'd think it's only right for me to pay more taxes. I'm not saying everyone in the top 400 should pay higher taxes though, if your creating jobs then ok here's a little tax break but if your inheriting money you deserve to pay higher taxes for your doing absolutely nothing for society.
For those who want to live "The American Dream" but are voting to tax the rich you are squelching your own dream. You will NEVER be rich getting freebies or welfare.
Most Americans got into trouble because they did not understand their own personal finance or the economy even on the most basic level.--------------------------------------------
Don't vote for an administration that thinks its ok to take away from people who work too damn hard for their money so they can give to people who don't want to get off their duffs. Never do anything for jealousy or for spite. I am telling you, if you vote to tax the rich, you can kiss your chances for a better life good bye.
Yeah taking from lower class workers to give to the "duff-sitting" investor class. Give it a rest.
So you are making the case for zero taxes on the rich.
So you believe that "the more you have the more you deserve" from others.
So you apparently believe that lower-class American taxpayers should give money to businesses through subsidies, even though neocon bluster says businesses should "sink or swim" on their own merits.
You have no problem with welfare for the wealthy?
All these old phony Fox mantras designed for it's dullard audience.
Yeah taking from lower class workers to give to the "duff-sitting" investor class. Give it a rest.
So you are making the case for zero taxes on the rich.
So you believe that "the more you have the more you deserve" from others.
So you apparently believe that lower-class American taxpayers should give money to businesses through subsidies, even though neocon bluster says businesses should "sink or swim" on their own merits.
You have no problem with welfare for the wealthy?
All these old phony Fox mantras designed for it's dullard audience.
Who is doing that ? The taxes you pay do not get sent to the "investor class". They make their money from investing in companies. Sometimes you win, sometimes you lose.
Income ? Well that comes from a job or investments that pay dividends. Plenty of retired folks are in the "investment class" so their 401K/IRA/retirement funds can generate money for them to live off of.
Do you think the USG cuts checks and mails them directly to this 1% ?
As other posters said..sitting there waiting for the USG to take money from the wealthy and hand it to you is not something you should be striving for. That's a welfare class.
Disparity in income ? Well that was in the works for years as we became more global. The US cannot compete for "producer type" jobs when they are more cost effective to do so in other countries.
Offshoring started in the 60's and ramped up in the 90's and is now full blown..if it can be done by someone in another country then it is or will be.
Your best bet is to get a job that requires your physical presence, lower your expectations for the American dream and get on with life.
For crying out loud, your own local and state governments are contracting out work and it's going offshore because it's more cost effective.
And I bet the top 400 have more cash than bottom 50% combined so there not paying a fair share regardless. In fact the wealthiest in America (Gates & Buffett) are for paying higher taxes, so...
If I were in the top 400, I'd think it's only right for me to pay more taxes. I'm not saying everyone in the top 400 should pay higher taxes though, if your creating jobs then ok here's a little tax break but if your inheriting money you deserve to pay higher taxes for your doing absolutely nothing for society.
If you're in the top 400 after you inherited an estate trust me, you paid plenty of taxes at the local, state and federal levels.
But let's look t this from an income POV.
The top 400 AGI amounted to $81 billion dollars, they paid $16.12 billion in taxes or 1.86% of the total taxes paid for all AGI. Even if you taxed them at 100% that would only account for about 9.3% of total income taxes paid for all returns ($866 billion dollars).
The total for all AGI returns was $7.626 trillion or 1.06% of total.
You can tax them till the cows come home but you're barking up the wrong tree if you want to do anything to the liabilities and deficits that are being ran now and are being planned to be run in the foreseeable future.
The top .7% all returns for 2009 had an income of $1.059 trillion dollars for 2009. They accounted for 29.7% of total income taxes paid or $315 billion dollars.
You still would have a deficit each year larger than all of their combined incomes.
Income ? Well that comes from a job or investments that pay dividends. Plenty of retired folks are in the "investment class" so their 401K/IRA/retirement funds can generate money for them to live off of.
Yes I did forget to mention this. If you invested for retirement and the companies pay dividends then you are earning money from those investment even when that money is re-invested in your 401K.
How about the people who are retired, they worked and saved all their lives and now living off the dividends. The dividends will be reduced which means less income to the retirees. So those of you who think this administrations way of thinking is the way to go, don't bother putting money into your 401K. If you do, your investing and hoping to live off your investment some day. Your also being a hypocrite.
Yeah taking from lower class workers to give to the "duff-sitting" investor class. Give it a rest.
So you are making the case for zero taxes on the rich.
So you believe that "the more you have the more you deserve" from others.
So you apparently believe that lower-class American taxpayers should give money to businesses through subsidies, even though neocon bluster says businesses should "sink or swim" on their own merits.
You have no problem with welfare for the wealthy?
All these old phony Fox mantras designed for it's dullard audience.
I don't believe I said any of the above?
You have the mindset of a poor person. And your 3 1/2 years and your still waiting for the windfall lol. Go play the lottery.
Here's another fun fact that can be derived from the link in post #1. In 2009 there were about 137 million tax returns filed in the US. If you take the ratio of 68.5 million (the bottom 50%) to 400, it's about a 171,000 to 1 ratio. So it's like you've got a big load to transport (say rocks for a pyramid). The master takes the biggest, strongest slave and says, "here's an 85 ton pile of rocks. You move these by yourself;" while the weakest smallest 171,000 slaves are given an average of about 1 lb. each of rocks to carry. Yet the left still feels that this is "fair."
Last edited by wutitiz; 06-24-2012 at 12:38 PM..
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