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.
The House is scheduling a vote on a new top tax rate for the highest-paid employees, presently to be applied only to employees of companies that get big Federal bailout packages.
The new tax rate is supposedly for people getting bonuses, but seems to be worded in such a way that it will be levied on ANYONE in the company whose income exceeds $250,000.
Joe the Plumber raised the issue of Obama raising taxes for people like himself, who might purchase a business whose receipts could be legally interpreted by the IRS as "income" above that level. But no one dreamed the increase would be so draconian.
There's even a quote from Charlie Rangel, who seems happy that state governments can tax away the other 10% of people's incomes.
We get the government we deserve.
Not since the depths of World War 2 have tax rates been so high.
Elections have consequences. And when you elect a bunch of extreme leftists to the national government, as we did last November, tax increases are one of those consequences. Even shockingly high ones.
As mentioned, some of the leftists are assuring us that these 90% tax rates are presently only for people getting bonuses the leftists don't approve of. The fact that this sets an ominous precedent, is to be dismissed.
The measure, which also applies to bonuses at other large bailed-out companies, passed 328-93. There were 85 Republicans who voted yes, and most interestingly enough, Eric Cantor.
Who would have thought that Eric Cantor was a leftist along with 85 other Republicans.
Me three. Let the government change the rules to keep the public at bay.
Nevermind that they passed that flawed bill to begin with; they'll just change the laws "this time", "for this reason", "for these people".
No other banks buy out other banks, everytime a business that big would file chapter 11 another bank buys them out. Happens all the time.
Yes, it does happen, but not all the time. No buyer was found for Bear Stearns, which is what started the ball rolling downward.
Quote:
People already did lose their homes and jobs because the government was irresponsible and lowered the interest rates and created "fannie mae and mac" and gave homes to people who probably never could afford them. Then the banks used the idealogy and HAD TO give the homes to them because the government told them they had to and now your surprised when a huge financial corporation might fail because of these practices.
Again once government "decides" who fails and who doesn't it starts a trend and one that never should be practiced in a free society.
Government power is to be limited they are not the judge and jury on corporations and business failures and success.
Agreed, but the banking industry is just as much at fault as is the government. Regardless, who is at fault is irrelevant to my point that the bleeding must be stopped before we can save the patient.
Keeping people working and off the streets is paramount to a free society as well.
90% is applied to the amount you make OVER $250,000. So if your salary or whatever is $250,001, the govt takes 90% of that one dollar you made over $250K, or 90 cents. Plus the (lower) tax on the rest of your pay, of course.
Graduated tax rates always work that way.
What it really means is, if you're in one of these companies, and your boss asks you to work you arse off over a couple weekends on an emergency, and you miss you're kid's Little League championship game and the other things you had scheduled, but he promises you a $1,000 bonus to compensate you for it... you wind up taking home $100 of that bonus.
And according to Charlie Rangel, your State govt will then reach out and pluck that out of your hand, thankyouverymuch, and you get nothing for your extra effort.
And people wonder why high tax rates discourage people from working hard, and result in decreased productivity. (BTW, if you refuse your boss's request for that sacrificial weekend for obvious reasons, guess how much extra the Fed gets from you as a result of its tax increase to 90%? Nothing...)
Almost every post you make is full of lies. 39% is the tax levy for income over $250,000. Precisely 3% more than the 36% required under Bush.
Frankly if you're an executive in a company that requires a bailout to stay afloat you should be thankful that your crappy company didn't get nationalized and that you're not on your ass looking for another job that will throw money at you for being bad at what you do.
People up top need to start feeling some pain for making poor decisions, this admittedly goes for everyone, but at least in politics you can vote someone out.
Haha... one thousand dollar bonus? As if, better jump that up to 1 million+. I'd work my ass off for a 100k dollar bonus, maybe someone young, hungry and competitive will take the position away from these morons.
Finkie, as new shareholder of AIG, I'd like to invite you to take the position of CEO and don't be sparing with the rod.
Little acorn-
Obama using the precedent of unlimited executive power opened by Bush... tax ALL registered republicans and the horse they came on 90%?
Yes, I suppose he absolutely could do that.
Perhaps y'all shouldn't annoy him with nuisance complaints when he's cleaning up your loot, plunder, & scorched earth policy hero's???
(Oh I'm so wicked! 5 hail mary's- it was totally WORTH IT hehehehee)
-------------
Quote:
My enemy is not my fellow citizens. My enemy is lies.
Every time I find a conservative who is an enemy of lies, I find my America.
Every time I find a liberal who is an enemy of lies, I find my America.
I do not care what their religion is, what generation, what color state or skin. This for me is the only 'for me or against me' affinity argument worthy of enlistment.
Let my America stand on truth. ~Harborlady
This country needs to start taxing stupidity. We wouldn't be in this mess right now if we did so.
You got that right. I'm still trying to figure out how taxes make me lazy.
The obsession some have with taxes seems to approach pathology. I wonder if this pathology crosses over into other costs of living? Maybe I'll start a thread with "High gasoline prices 'discourage people from working hard, and result in decreased productivity.'"
or...
..."Honey, the landlord has raised the rent. Shouldn't you be taking some overtime?"
"Nah. Higher rents discourage me from working hard. I think I'll call in sick today."
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.
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.
