Obama's Millionaire Tax

See the responses in BLUE above.

 

So you agree with Paul Ryan and Herman Cain that we should not require folks making over a mill a year to pay the same rates as the middle class and that Obama's payroll tax cuts for both employers and employees be allowed to expire which will amount to a 50 percent tax hike on workers making less than $106,000 per year?

 

Well I think there is no correlation unlike most liberals (thus my sarcasm) otherwise y'all would be floating tens of millions to me for my evil nature :tut:

 

Pardon the interruption, but not all income is tax at the same rate.

Educate me, clear things up for me, me if you wood please: the argument that Warren pays less tax (rate) than his secretary is not a fair comparison. Is this not the case?

 

Fair in what way? As a portion of each total income? IIRC, the statement referred to the fact that he paid 15% on the majority of his income from investments while she paid a considerably higher rate on her salary.

 

Is that wrong? Are you suggesting, implying, supporting, that the rich/wealthy pay one rate for income, regardless of source?

Mind you, a distinction can be made between rich and wealthy.

 

And the distinction in this case is people who have an annual income OVER 1 meeeeeeeeeeelyun dollars!

 

People in the different income brackets pay a given % on their gross income in the bracket. That's seperate from other earnings on investments unless I'm missing something here.

If I'm understanding things correctly AGI does not include money earned from investments, stocks, etc.

 

Does that matter?
Perhaps, salaries are inflated? Maybe, moreso if tax rates go up. We, the consumer always pay, rich or poor. Government almost always benefit, if only short term when salaries, property, and taxes go up. Things tend to return to a status that generates the same discussion but at a higher level.

And no. I don't make $ 1M.

 

This is nothing but a political stunt meant to rally Obama's base. Obama is an asshole. That's all that needs to be said.

 

And how, Mr Rider, is that different that the `publican posturing?

 

he is a black guy? (sort of)

 

AGI starts with gross income which includes income from any source and then specific deductions are made. http://en.m.wikipedia.org/wiki/Adjusted_gross_income

 

What specific posturing? We have lots of different politicians doing lots of different posturing. We also might not want to know what some of those postures are. Barney Frank, for example. Mark Foley on the Republican side before he got the boot. We don't want to know what those guys did...

This doesn't change the fact that President Obama is an asshole, and that his tax proposal isn't serious policy, it's politicking for the sake of his re-election.

Do you want proof of this? Answer this: Is Obama so stupid that he doesn't understand the difference between capital gains taxes and taxes on ordinary income? Is he also so stupid that he does not understand the difference between marginal and nominal tax rates? If he doesn't understand these things, then he's too stupid and ignorant to be President. (I'm of the opinion that he's a highly intelligent little bastard). If he does understand these things, then the only possible explanation is that he is deliberately misconstruing the issues for some purpose, likely being his re-election chances.

 

And there are no black guys in the `publican party? :wow:

 

They had to give up their black card to join.

 

And again I ask, how is this different from the `publican politicians?

 

I see. I had that basically backwards. Thanks. :up:

 

What specific 'publican politicians? Just like the Democrats, some Republicans are serious statesmen who propose real policy for what they believe to be the benefit of the Republic, and some are serious asshole politicians who propose fake policy for personal political gain. President Obama is firmly in the latter group.

One asshole not being behaviorally distinguishable from other assholes doesn't negate the fact that he is an asshole.

 

So you like the President are not really worried about fair as long as he can stick it to a class that gets him the most votes next time around............yep, a clear leader of a nation he is.

People making over the evil $1m mark do pay a higher percentage on the income the earn. They pay the same as anybody on the cap gains, and write off the cap losses they make, just like anybody else that takes the risk of investing.

Seems like a fair share to me, actually less fair for them since these are the same people that are carrying almost 50% of the population on their shoulders bearing most of the tax burden.