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Well, plenty of Americans would be living in near poverty if they actually lived within their means. Credit allows them to live far above their actual means.
This mindset is what causes people to get into credit problems in the first place. People who never use credit are much better off than people who use it. This may not be the case for 1 year, but after that it is, and the longer you live, the less credit helps you. It is also true for countries... If we force the Government into a balanced budget and eliminate government borrowing, we will be much better off.
Get rid of the payments and your lifestyle dramatically increases.
People who think $40,000 is anywhere near poverty
1) have never been to poverty stricken countries.
2) have never lived with $20,000 a year or less and figured out how to get the most out of it.
$250,000 is a lot for an individual, but not allot for a company. As a business owner, I pay taxes as an individual for the growth of my company. For example, If I want to hire another person, I have to buy a desk and a computer, programs office space etc. All these items are not expenses, they are capital investments. They add up to about 1 year's salary. So if I want to hire someone at $50,000, I have to earn about $100,000 that I never see until I sell the company because when I take taxable profits and leave them in the company for growth, I still have to write a big check to the IRS on April 15. So a tax increase at $250,000 pretty much means any business that wants to hire more than 3 people will be effected to the point that limits growth. BTW this exemplifies how wrong a capital gains tax is. Since I pay taxes on growth as I go, the only thing the capital gains tax does is taxes the inflation aspect. A tax on inflation is inherently unfair. The government realizes the negative public opinion on such a tax by not taxing gains on the sale of your house. Such a tax would not allow you to move up when you get significant raises.
This is another example of government telling you WHAT your ALLOWED TO keep.
Hmmm seems to me government is telling you "your my slave now get to work and pay me"
I don't know about you but it would see in a fair and free society the income tax should be removed and replaced with NOTHING!!!
I applied for that job, you know, the one that pays 44 mill a year, but didn't get it - not corrupt enough I guess.
Keep guessing... People who do not make allot have no idea of what it takes to become someone who does - otherwise they would.
If they broke any laws they should be prosecuted - otherwise the corruption is on the backs of the people who wrote the laws - and the people who elected them.
Keep guessing... People who do not make allot have no idea of what it takes to become someone who does - otherwise they would.
If they broke any laws they should be prosecuted - otherwise the corruption is on the backs of the people who wrote the laws - and the people who elected them.
They will lie cheat and steal all day if the government bails them out, like they are now and remember Charles Keating? Sometimes they get caught though, remember Ken Lay and Bernie Ebbers? Still, they get away with it 99% of the time, because they are in bed with the people you elected to office.
They will lie cheat and steal all day if the government bails them out, like they are now and remember Charles Keating? Sometimes they get caught though, remember Ken Lay and Bernie Ebbers? Still, they get away with it 99% of the time, because they are in bed with the people you elected to office.
Are you saying that 99% of executives lie cheat and steal or are you saying that 99% of liars, cheaters and thieves will do it? When they "get away with it" who is harmed? If housing prices continued to increase at historic rates, all the loans would have been paid back and now one is harmed. At the worst the stockholders who decide to pay the executives high salaries are harmed for their poor decisions.
Government is only doing what they said they would and yes Government is the largest part of this problem. So are you voting for the people espousing larger government or smaller government?
You're really breaking my heart - people who make a paltry 250K a year pay 30% in taxes??? My God - that must be the biggest inequity in the history of mankind...
WHo the heck do you think you're fooling??? If you're making 250, you have a lot more disposable income than someone making 75K - and should be expected to pay a higher percentage of your marginal income.
My wife and I make about 200K combined - and we pay about 40% in taxes - we don't have a mortgage or other major deductions - and most of our income is from wages. So I'm supposed to feel sorry for you???
Sorry - but no cigar.
I'm voting for Obama because I think people like me and my wife and you SHOULD pay higher taxes to help pay down the national debt and give our children a fighting chance at a good standard of living...
I guess you have a problem with math. It is about 36%. I pay it every year without a problem. I do have a problem with the mentality of you make more, give me some.
I do pay more taxes than most people. You see 36% of $250K is 90K, 40% of 200K is 80K.
So, the "rich" are paying more. And, I am sure that at 200K you are not paying 40% to Uncle Sam.
I don't think I asked you to feel sorry for me. I don't need it. But, don't expect me to feel warm and fuzzy about the " redistribution of my "wealth."
----Quotes All----
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Where is the representation for this taxation?
Could have heard a country was partly founded on something like this?
----Quotes All----
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Where is the representation for this taxation?
Could have heard a country was partly founded on something like this?
"The taxpayer - that's someone who works for the federal government but doesn't have to take the civil service examination."
I guess you have a problem with math. It is about 36%. I pay it every year without a problem. I do have a problem with the mentality of you make more, give me some.
I do pay more taxes than most people. You see 36% of $250K is 90K, 40% of 200K is 80K.
So, the "rich" are paying more. And, I am sure that at 200K you are not paying 40% to Uncle Sam.
I don't think I asked you to feel sorry for me. I don't need it. But, don't expect me to feel warm and fuzzy about the " redistribution of my "wealth."
I don't have any problems with math - thanks for your concern anyhow. My 40% is the total of my federal and state income taxes.
By having the rich pay more, I mean they should pay a larger percentage - not just a larger absolute dollar amount...
I'm sorry you feel that even though you make more than most - you should pay a lower effective tax rate than the average American...
Luckily that will change next year with an Obama administration. Taxes on the well to do will go up - as they should - to balance out the low rates they've been paying ever since Reagan, and especially under W.
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