Confirmed! Rich People Live Off The Work Of Others!

[Sunshine]

The IRS report for the richest 400 Americans shows that only 6.5% of their income came from wages and salaries. The rest - 93.5% - came from unearned income. "Unearned income" is the profits that accrue to the rich by virtue of their ownership of things. When corporate profits, for example, go up, the wealth of the rich increases.

The rich themselves do not create those profits, though. The profits are mostly created by the people who work at the corporations - the profit "creators", so to speak. The rich benefit from the hard work of others, but they mostly don't participate - not unless they feel like, anyway.

Link: http://www.irs.gov/pub/irs-soi/07intop400.pdf

The richest Americans live off the work of other? Well so do the poorest Americans. And your point is.............?

 

[SAT2]

The IRS report for the richest 400 Americans shows that only 6.5% of their income came from wages and salaries. The rest - 93.5% - came from unearned income. "Unearned income" is the profits that accrue to the rich by virtue of their ownership of things. When corporate profits, for example, go up, the wealth of the rich increases.

The rich themselves do not create those profits, though. The profits are mostly created by the people who work at the corporations - the profit "creators", so to speak. The rich benefit from the hard work of others, but they mostly don't participate - not unless they feel like, anyway.

Link: http://www.irs.gov/pub/irs-soi/07intop400.pdf

According to this, the effective tax rate for this group has declined from almost 30% in the 90s to about 16 or 17% today - Evan as their share of all income has increased.

So why is it that our tax code favors income gotten through speculation over honest work?

I'm guessing it has something to do with Congress. Both sides of the aisle.

But keep voting for the same ol' people.

Yes, both sides do it. Except that they don't.

 

[alan1]

So why is it that our tax code favors income gotten through speculation over honest work?

Why is it that dis-honest work, like drug dealers, pay no income tax?

 

[Sunshine]

So why is it that our tax code favors income gotten through speculation over honest work?

Why is it that dis-honest work, like drug dealers, pay no income tax?

If they get caught, they ARE billed for the taxes. Their income is, after all, still income. That was a real law school shocker. I had no idea.

 

[Crackerjack]

The IRS report for the richest 400 Americans shows that only 6.5% of their income came from wages and salaries. The rest - 93.5% - came from unearned income. "Unearned income" is the profits that accrue to the rich by virtue of their ownership of things. When corporate profits, for example, go up, the wealth of the rich increases.

The rich themselves do not create those profits, though. The profits are mostly created by the people who work at the corporations - the profit "creators", so to speak. The rich benefit from the hard work of others, but they mostly don't participate - not unless they feel like, anyway.

Link: http://www.irs.gov/pub/irs-soi/07intop400.pdf

According to this, the effective tax rate for this group has declined from almost 30% in the 90s to about 16 or 17% today - Evan as their share of all income has increased.

So why is it that our tax code favors income gotten through speculation over honest work?

I'm guessing it has something to do with Congress. Both sides of the aisle.

But keep voting for the same ol' people.

Yes, both sides do it. Except that they don't.

What the hell are you talking about, son?

 

[SAT2]

Seems like the question scares some people.

 

[Crackerjack]

So why is it that our tax code favors income gotten through speculation over honest work?

Why is it that dis-honest work, like drug dealers, pay no income tax?

If they get caught, they ARE billed for the taxes. Their income is, after all, still income. That was a real law school shocker. I had no idea.

Yup. They are supposed to file and list their occupation as "Fifth Amendment" or something along those lines.

As if any drug dealer in the history of the US has ever done that.

 

[Oddball]

So why is it that our tax code favors income gotten through speculation over honest work?

Why is it sniveling little losers like you continue to support any kind of direct taxes on incomes?...Nothing flatter and fairer than no income tax.

And don't gimmie that crap about "how would we build roads and schools?"...Roads are funded via fuel taxes and schools through local property taxes.

 

[alan1]

So why is it that our tax code favors income gotten through speculation over honest work?

Why is it that dis-honest work, like drug dealers, pay no income tax?

If they get caught, they ARE billed for the taxes. Their income is, after all, still income. That was a real law school shocker. I had no idea.

I get caught working 5 days a week.

 

[SAT2]

So why is it that our tax code favors income gotten through speculation over honest work?

Why is it sniveling little losers like you continue to support any kind of direct taxes on incomes?...Nothing flatter and fairer than no income tax.

And don't gimmie that crap about "how would we build roads and schools?"...Roads are funded via fuel taxes and schools through local property taxes.

Depends on how you define fair, doesn't it?

 

[Oddball]

Yeah, I figured such a weasel-ish retort would come from the likes of you.

Fact is that you're a cowardly looter, who doesn't have the nerve to go rob your neighbor in person.

 

[SAT2]

Yeah, I figured such a weasel-ish retort would come from the likes of you.

Fact is that you're a cowardly looter, who doesn't have the nerve to go rob your neighbor in person.

You make some very ignorant assumptions about the world in general, and me in particular.

Again, why is it that we tax income gained through speculation at a lower rate than income gained through actual productive work?

 

[driveby]

The IRS report for the richest 400 Americans shows that only 6.5% of their income came from wages and salaries. The rest - 93.5% - came from unearned income. "Unearned income" is the profits that accrue to the rich by virtue of their ownership of things. When corporate profits, for example, go up, the wealth of the rich increases.

The rich themselves do not create those profits, though. The profits are mostly created by the people who work at the corporations - the profit "creators", so to speak. The rich benefit from the hard work of others, but they mostly don't participate - not unless they feel like, anyway.

Link: http://www.irs.gov/pub/irs-soi/07intop400.pdf

Confirmed! You're the 250th Newbie Marxist faggot to pass through USMB in the past 12 months.....

 

[SAT2]

Do you have any clue what the word Marxist means?

 

[Sundial]

Take an average, middle- class tax payer, like myself. The average household income in the US is $50k. I happen to be sel-employed, so I pay both sides of the payroll tax- a total of about 15%. The property tax rate, in my part of the world, is between 2.5 and 3%, and an average home is around $200,000 - maybe a bit more. Say $5000 per year. So far, I'm at 25%. Sales tax is 8.25, and I spend most of what I make. So I'm at maybe 30% before I pay a dime in Federal income tax - and I pay income tax on top of that.

Now take someone who makes, say, $10 million a year, and lives in a million dollar house. His property tax might be $25,000, or 0.25%. If his money is unearned - capital gains, for example - he pays 0% in payroll taxes.

So far we're at 0.25% vs. 25%.

How is that fair?

Why in the world should ordinary working folks have to the leisure class moaning about being taxed "too much"?

Why should we differentiate at all? Call it 5% across the board on all income above $20,000, no exceptions, no deductions, no credits.

5% is not near enough. A middle-income earner where I live pays 10% in property taxes alone. That's before sales tax, payroll, and income taxes. And some states have state income taxes as well.

 

[Oddball]

Yeah, I figured such a weasel-ish retort would come from the likes of you.

Fact is that you're a cowardly looter, who doesn't have the nerve to go rob your neighbor in person.

You make some very ignorant assumptions about the world in general, and me in particular.

Again, why is it that we tax income gained through speculation at a lower rate than income gained through actual productive work?

I'm making no ignorant assumptions in general and about you in particular.

I've seen enough of your posts to recognize that you're no different a brand of whiny, envious, Marxist little looter than any other of the other whiny, envious, Marxist little looters around here.

Life's not fair...Get the fuck over it.

 

[driveby]

Do you have any clue what the word Marxist means?

got a mirror?

 

[Crackerjack]

Take an average, middle- class tax payer, like myself. The average household income in the US is $50k. I happen to be sel-employed, so I pay both sides of the payroll tax- a total of about 15%. The property tax rate, in my part of the world, is between 2.5 and 3%, and an average home is around $200,000 - maybe a bit more. Say $5000 per year. So far, I'm at 25%. Sales tax is 8.25, and I spend most of what I make. So I'm at maybe 30% before I pay a dime in Federal income tax - and I pay income tax on top of that.

Now take someone who makes, say, $10 million a year, and lives in a million dollar house. His property tax might be $25,000, or 0.25%. If his money is unearned - capital gains, for example - he pays 0% in payroll taxes.

So far we're at 0.25% vs. 25%.

How is that fair?

Why in the world should ordinary working folks have to the leisure class moaning about being taxed "too much"?

Why should we differentiate at all? Call it 5% across the board on all income above $20,000, no exceptions, no deductions, no credits.

5% is not near enough. A middle-income earner where I live pays 10% in property taxes alone. That's before sales tax, payroll, and income taxes. And some states have state income taxes as well.

Sure it is.

If the government doesn't have enough money, I guess they'll have to make cuts. Sounds fair to me!

 

[Sundial]

So why is it that our tax code favors income gotten through speculation over honest work?

One possibility: people who are making lots of money have a powerful incentive to use some of it to influence the tax code.

 

[SAT2]

Yeah, I figured such a weasel-ish retort would come from the likes of you.

Fact is that you're a cowardly looter, who doesn't have the nerve to go rob your neighbor in person.

You make some very ignorant assumptions about the world in general, and me in particular.

Again, why is it that we tax income gained through speculation at a lower rate than income gained through actual productive work?

I'm making no ignorant assumptions in general and about you in particular.

I've seen enough of your posts to recognize that you're no different a brand of whiny, envious, Marxist little looter than any other of the other whiny, envious, Marxist little looters around here.

Life's not fair...Get the fuck over it.

Do you have any clue what the word Marxist means?

got a mirror?

Couple of guys throwing words around that they don't understand.