Obama's Millionaire Tax

Ya, like totally that'll work.

 

Its like the EU suggesting higher taxes on German workers to solve the crisis caused by the PIIGS. Party on fat Greek bastard.

 

You know what I did in 2008 when I had less money at the end of each month?

I gave some employees their walking papers. The survivors haven't received a raise in three years either. Nobody is getting assistance with their health insurance anymore either.



This president is a fukkin' genius. He knows how to fix things. :up:

 

For us mere mortals this whole issue has become so confusing that it's difficult to know who is right or wrong. Some leading economists say that raising the taxes on the wealthy will not come close to solving our problems yet Obama continues to advance that idea. Maybe he really is just trying to soak the wealthy although I would wonder why since he would be cutting his own throat. I do not have a problem with making the wealthy pay a minimum percentage of their income in taxes but is Obama trying to take it too far? I really don't know.

Since Buffet is so insistent on making the uberwealthy pay more taxes maybe one answer is to tax the living hell out of them and leave everybody else alone. That way everyone would be happy.

 

I say we continue to give the richest Americans tax breaks, and continue to give corporations every opportunity to send jobs overseas, whilst keeping their tax burden low...and while those same corporation post record profits...we can keep taxing our disappearing middle class at a higher percentage then everyone else.

I'm sure glad there is a lot of people on here making $1M or more per year.

Makes complete sense to me. I love the fact that I can help make sure the disparity between me and the rich can continue to grow...

Obama is asking that the rich pay the same tax rate as you and I....how can that not be fair? Doesn't that sound like a start to the flat tax?


And Dits....if your paycheck gross is $1m + per year....good for you bro.

 

It's not. I never said I was. I've been very blessed, but not that damn blessed.

But I feel very strongly about this: It's the people that earn $200,000+ a year that employ the great bulk of of the workforce. When the economy went to shit, legions of people went from $280,000 a year to $130,000 or so. When that happens, people lose their jobs because there are bills to pay at home. Gotta remember too, at the end of the day, 40% or so of that is flying out the window to federal income tax, self employment tax, state income tax, real property tax... the list goes on and on.

Then you have this asshole president on top of all this who wants to play class warfare and points his finger at the people making $280,000, or $500,000 or a million and calls them the problem.

Fuck that. This is why I get angry.

Yeah, I'm not making the money I used to... and there was a bunch of collateral damage as a result.

 

Funny really, he and his wife are members of that class. He's forgetting to mention that.

 

While I am certainly no expert, I feel that the break currently afforded to the "rich" is overblown. What personal knowledge does anybody on here have of the subject other than the regurgitated MSM media blather? You know: "I know a guy who makes $2M and pays two grand a year..."

I just know plenty of goeverment rip-off stories at the low (welfare/UE abuse end). Maybe I don't hang with the right crowd or something...

What about the 50% plus of Americans who pay NO income tax or even see a net gain from the IRS - should we raise their taxes too?

 

Understood, but he's not talking about people who make $280k to $999K.

I'm offended (not at you) that I pay a higher tax rate then other people.

I like the flat tax idea.

 

Do all you commies really think that more taxes is going to curb spending. change you vote.

 

He has the the past iirc.

 

What tax breaks do the wealthy have that no one else can take advantage of? Their only advantage is that they earn enough money to live off a smaller percentage of their income where us lessor earners can't. Is that the fault of someone that makes a lot of money, or is it just the way it works out in this land of a really convoluted tax code. They can use just about all the deductions that exist where we cannot. If you or I give away 90% of our income there isn't enough left to live on while a person making one million bucks can give away 90% of his income and it still leaves him one hundred thousand to live on. It's nothing more complicated than that.

Should we set up a system where everyone has to live on the same amount of take home pay? What's that called?

Why do you suppose that so many companies end up going offshore to do their business? Is it perhaps because the anti business climate in this country encourages it? Is it perhaps because of the tendency to allow unions to control a lot of what those companies can, or cannot, do here? Don't forget, a company's first priority is to earn a profit for the investors. If we continue to drive up the cost of doing business here then they will continue to go overseas to do business over there because it simply costs less.

If you and I had a dollar for every time this subject has been discussed we would be able to be in that magic wealthy group ourselves.

 

Orvis what is the tax rate for people making $1M per year -vs- someone making $99K or less? What is the actual amount of taxes, in a percentage, that is paid for each of those two numbers?

I think what Warren Buffet was saying is that he pays less of a % in tax then his asst....Buffet didn't think that was fair, nor do I.


I'm NOT talking about charging the rich more $$$ in taxes, I'm wanting the rich to pay the % that I do.

Isn't that America? Isn't that the dream, that I can do what they do? Well how can I when I'm burden with paying a larger % of my income in taxes?

 

A big part of what Buffet is talking about is that a large part of wealthy peoples income is from capitol gains on investments, which are taxed at 15%, not as regular income. What you need to remember is that a lot of the money they are using to invest, has already been taxed as income once, now they are using what's left and investing it, and paying tax on it again. So if you make $100K, you pay 35% in tax. If you can afford to invest some of the $65K you keep, and make a profit on that, you pay an additional 15% on the profit when you take it. Maybe fair, maybe not, depending on where you are. The argument is that only the rich can afford to invest, but the vast majority had to earn enough first, and pay taxes on it, to become rich in the first place.

 

I recently read an article which stated that about 200k people make in excess of $1 Million a year. Even if the government taxed these super-earners at a 100% rate, that would only generate $200 billion in revenue. At the current rate of government spending, that would last less than two months. Keep in mind the $15 Trillion tab already officially on the books. We are beyond hosed.

Unitil bullshit government spending on bullshit wars and bullshit entitlement programs and bullshit bailouts and bullshit stimulus is brought in line, the problems will go unsolved. PERIOD.

 

So wait. Badbeak can do this math on a Sunday morning. I'm sure somebody in the whitehouse is smart enough to do the same.

So what's Obama's agenda for proposing to tax the shit out of the "super wealthy?" It's not going to accomplish anything. When I feel like my money is at risk, I park it where it's safe. The super wealthy folks will do the same. Parked money doesn't stimulate the economy at all.

Fukker loves to engage in class warfare, I'm telling ya. I swear he's a god damn socialist. He's gotta be. It's the million dollar club first... then he'll keep going down the line.

 

nobody is stopping Warren Buffet from paying more taxes. He can add as much as he wants on his tax form, he should put his money where is mouth is.

 

Sweet!!

Somewhere down the line in this I should get a huge decrease in my tax rate. Woot! <sarcasm>

 

This is always my favorite RWN argument about taxes.

 

Yep! If it is unfair for the rich to pay a smaller percentage than the masses then it is unfair for people to pay nothing. Set tax percentage with no deductions is the best progressive way to do it. It is still unfair to the rich as they are paying for way more shit than they are using but it is exponentially better than what we have now.