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What are you even talking about? Did the OP even state how much they pay in taxes? And why would someone who lives in CA pay income taxes to NY?
A Californian would owe New York State or City taxes if their income is earned and paid to them in New York or the City . With things like the red eye flights from LAX to Newark Liberty or NY-JFK its quite possible to have a nice place in Mallibu or La Jolla spend a long weekend there and jet back to NYC for 3 or 4 days of work while crashingint a fine midtown hotel suite and then flying back West to socialize and chill out. The only way you might be exempt is if New York and California have signed a reciprocal tax agreement so paying California taxes would be taken as a tax credit by New York and so you would not have to pay New York .
And what happens to stock prices when a corporation isn't profitable? Hmmm...?
A corporation's stock price doesn't always go down when it isn't profitable. And it doesn't always go up when it is profitable. This is ESPECIALLY true of technology stocks.
In fact, there are tons of companies out there right now which have NEVER earned a profit.
Take the case of "Tesla Motors". It has been around since 2003, and has basically never turned a profit. And isn't predicted to even start making a profit until 2020.
This is a company with no earnings, and almost no assets, but with a market cap of nearly $33 billion. Yeah, makes sense.
And its entire business model is formulated around government subsidies for electric cars.
In fact, there is very little relationship between "price" and "earnings". Or even price and growth, or price and assets. Stock price can fluctuate significantly, and completely independently of all of these factors.
Look at it like this, a company normally only releases a "quarterly report". But within the three-month cycle, the price of the stock could double in price. Why? Well, there are a lot of factors. They could have debuted a new product, or another company in the same market might have released their quarterly reports, and were better than expected. Or the market in general could be going up(in trading, its called "A rising tide floats all boats").
If you think the stock market makes any sense at all, then you've obviously never did any trading. The stock-market is really nothing more than a sophisticated form of gambling. And where the "chips" are supplied through loans from the Federal Reserve(IE a margin account, for the typical day-trader).
The western world is coming to end that means its balance has gone too far with too many dependent on to few. As far as welfare class if you are getting subsidized by government healthcare; that is welfare. Many are paying full price buying same at same sites or thru a broker. For others their employer provides it as part of their compensation but its not taxed as income. That why its a matter of degree and what you contribute from nothing to paying for most government services if wealthy enough. We don't have debt because we has nation live on the taxes we pay; plain and simple. The rich will only pay for so much until they adjust and things like jobs are cut for cheaper automation etc. Why even invest to pay more taxes to produce in the end really. Its clear looking at profits made in foreign countries held there where they see the future. They have options of moving their entire corporate head quarters foreign for better tax rates in this world economy and would be welcomed as we have seen even in Europe now days. This isn't the 50's where most of the world was destroyed and not competitive with US. Greece can happen to any nation over time.
the fact is the bottom 50%....that is those households earning (under 52k nationwide is the bottom 50%) within the bottom 50% pay nearly nothing in federal income taxes
I myself earn just over 60K and pay NOTHING in federal income tax OR payroll tax...
quit trying to make the bottom 50% seem like they are only min wage workers
I hadn't thought about that. Whenever I hear people talking about the group not paying much in taxes is usually when they're referring to the lower classes. It's true that there is a big difference between someone who makes 40 to 50k compared to someone who makes 10-20k.
The stock market is nothing but speculation. The entire system is based on trying to guess whether one stock or another will go up in price, or go down in price. There are factors at play, but the factors themselves are only loosely correlated with the value of any particular stock.
Speculation in the stock-market isn't functionally different than speculation in oil, or in real-estate. The price of oil can actually double in price, without supplies or demand changing at all. Or changing in such a slight degree, that it can't explain such a drastic change.
If we use real-estate as a reference. The value of any given piece of real-estate, is based upon one thing alone, how much someone is willing to pay for it. All other factors are moot.
The amount of money someone is willing to pay for a given piece of property is related to two things, the supply and demand, and the availability of capital.
Most people tend to focus only on supply and demand. Which plays the biggest role. But without capital, no purchases can be made. And having access to capital, and especially at artificially low rates of interest, plays as big a role, or a bigger role in some cases, than supply and demand.
The reason why there was a massive housing bubble, was from one thing alone, the increasing availability of capital through easy to get loans, with incredibly low interest rates. It had almost nothing to do with supply and demand. The demand only came because houses were seen as investments, because of the speculation which occurred from the easy-to-get loans and the low interest rates.
Without an expansion of the money supply, the value of absolutely anything is always going to be limited. But if you can infinitely expand the money supply, then the value of absolutely anything can increase to infinity.
The Federal Reserve continues to do everything it can to expand the money supply(or at least prevent it from contracting), so it continues to provide endless capital at practically 0% interest. And this capital primarily enters the system "at the top", and as I said, is funneled into some form of assets. Either real-estate, commodities, or stocks. Which is why the value of all of these things can be inflated, regardless of the overall health of the economy.
But the entrance of this money at the top, also creates a very "lopsided" economy(and therefore a lopsided economic-recovery). The people at the top are doing VERY WELL, and the luxury real-estate market is booming. But all of this wealth created at the top takes longer to "trickle-down".
My objection to this, is from asking the question, is this "Wealth" created through the machinations of the Federal Reserve and Wall Street, really wealth at all? Does Wall Street produce wealth? What is wealth? Is wealth money? Or can wealth only be those things with actual tangible value?
Isn't it actually true, that Wall Street doesn't actually produce any wealth at all? But merely creates a bunch of "funny-money" called "legal tender", which can be used to purchase the real wealth from "the people"? In effect, aren't the machinations of Wall Street and the Federal Reserve, nothing but a "redistribution of wealth" away from the lower and middle-classes, and into the hands of the rich?
Last edited by Redshadowz; 06-24-2015 at 09:22 AM..
I'd say many in the bottom 50% pay their fair share by working for unlivable wages so the rich could live off their backs.
Naw. The bottom 50% work just enough so that they can maximize on getting as much free government handouts as possible. They feel that Section 8 vouchers are owed to them. Not only do they want to keep theirs for life, but then they coach their children, family and friends how to to the same. I've also seen where if someone doesn't need to claim their children as dependents on their tax forms for extra tax discounts, they give their friends their children's SSN# so that they can claim them instead. It's scary.
And these are the same people who use their elder parents' cars with the handicap tags to go to work so that they can park for free all day long.
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When are the bottom 50% going to start paying their fair share?
